Signature Bank (SBNY) Reports In-Line Q2 EPS
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Signature Bank Reports 2017 Second Quarter Results
July 19, 2017 5:00 AM EDTNet Income for the 2017 Second Quarter Was $14.0 Million, or $0.26 Diluted Earnings Per Share Versus $102.2 Million, or $1.90 Diluted Earnings Per Share, Reported in the 2016 Second Quarter. Excluding Provision Expense and Write-Downs for the Taxi Medallion Portfolio, Net Income Would Have Been $120.2 Million, or $2.21 Diluted Earnings Per Share The Bank Took Significant Measures to Address the New York City Taxi Medallion Portfolio By Reserving For or Writing Down Each New York City Medallion Loan To a Value of Approximately $358,000 Leaving the Bank With a Total Net Exposure of $324.5 Million, or 80 Basis Points of... More
