Signature Bank announced Q2/13 net income reached a record $53.6 million versus $45.3 million in Q2/12. The bank said the record net income was primarily due to an increase in net interest income fueled by strong deposit and loan growth.
SunTrust Banks reported Q2/13 net income was $365 million, up 35% or $95 million higher than Q2/12. The bank noted its provision charge of $146 million, was $154 million lower compared to the same quarter in 2012.
Bank of America reported second-quarter 2013 net income rose 63% to $4 billion from $2.5 billion in the same year-ago quarter. The bank said net credit loss rates were below 1% for the first time since second quarter of 2006.
Signature Bank announced net income in Q1/13 reached a record $50.6 million, up 19% from $42.4 million in Q1/12. The bank said the increase was fueled by growth in average interest-earning assets.