Signature Bank (SBNY) Tops Q3 EPS by 7c
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Signature Bank Reports 2016 Third Quarter Results
October 20, 2016 5:00 AM EDTNet Income for the 2016 Third Quarter Was $76.1 Million, or $1.41 Diluted Earnings Per Share Versus $96.2 Million, or $1.88 Diluted Earnings Per Share, Reported in the 2015 Third Quarter. Excluding the $61.7 Million of Provision Expense for the Chicago Taxi Medallion Portfolio, Net Income Would Have been $113.7 Million, or $2.11 Diluted Earnings Per Share The Bank Took Significant Measures to Put the Chicago Taxi Portfolio Behind Us By Reserving For or Writing Down Each Chicago Taxi Medallion Loan Utilizing a Value of $60 Thousand Leaving the Bank with a Total Net Exposure of $45.8 Million or 12 Basis Points of... More
