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SNV spun off TSYS and paid a one time dividend of $13.61 on 1-02-08. The forward div has not been adjusted. ASBC Reports Net Income of $0.51 vs. $0.57 in Q4-06 Business Wire 1-17 Associated Banc-Corp reported Q4-07 net income of $64.8 million [$0.51/share] compared to $74.501 million [$0.57/share] in Q4-06. ROA was 1.23% compared to 1.38% in Q3-07. ROE was 11.23% compared to 12.69% in Q3-07. Book value at the end of Q4-07 was $18.32 compared to $18.04 at the end of Q3-07. Net interest income was $164 million compared with $163 million for Q3-07. the net interest margin was 3.62% for Q4-07 and Q3-07. Net interest income benefited from stronger average loan growth and improved spreads. Earning assets yield was 6.88% compared to 7.05% in Q3-07. The Interest-bearing liabilities rate was 3.82% compared to 4.02% in Q3-07. Total noninterest income was $85.673 million compared with $74.535 million in Q4-06, with solid growth in deposit service charges (10%), trust service fees (14%), and card-based and other fees (11%). Trust service fees in Q4-07 were $10.723 million; Service charges on deposit accounts $25.866 million; Card-based and other nondeposit fees $12.088 million; Retail commissions $14.917 million; Bank owned life insurance income $4.240 million; and Asset sale gains, net $11.062 million. Q4-07 Net charge offs to average loans were 40 basis points and 27 basis points for 2007. Commercial nonperforming loans were $109 million at year end compared to $110 million at year-end 2006. Total consumer nonperforming loans of $54 million were up $21 million between year ends. The ratio of total nonperforming loans to total loans was 1.05% and 0.96% at year-end 2007 and 2006, respectively. Total NPAs represented 0.88% of total assets at year-end 2007, compared to 0.75% at year-end 2006. BBT Reports Net Income of $0.75 vs. $0.46 in Q4-06 PRNewswire 1-17 BB&T Corporation reported Q4-07 net income of $411 million [$0.75/share] compared with $251 million [$0.46/share] earned during Q4-06. Q4-06 net income was negatively affected by a $139 million after-tax charge associated with providing additional tax reserves related to leveraged lease transactions, $47 million in after-tax losses resulting from restructuring a portion of the securities portfolio and $5 million in net after-tax merger-related and restructuring charges. In Q4-07 BB&T recorded a net after-tax liability of $9 million relating to the Visa antitrust lawsuit. Excluding the impact of these items from both 2007 and 2006, operating earnings totaled $415 million [$.75/share] compared with $442 million [$.81/share] in Q4-06. ROA in Q4-07 was 1.26% compared with 1.48% in Q4-06. ROE in Q4-07 was 13.00% compared with 14.70% in Q4-06. Book value per share at the end of Q4-07 was $23.14 compared to $22.58 at the end of Q3-07 and $21.69 at the end of Q4-06. FTE net interest income was $1.008 billion compared to $978 million in Q4-06. FTE Net yield on earning assets was 3.46% compared to 3 .70% in Q4-06. Average yield on earning assets was 6.95%, 7.11% in Q3-07 and 7.14% in Q4-06. Average yield on interest-bearing liabilities was 3.98%, 4.20% in Q3-07 and 4.02% in Q4-06. Noninterest income was $718 million compared to $677 million in Q4-06. Insurance commissions in Q3-07 was $221 million; Service charges on deposits $165 million; Other nondeposit fees and commissions $133 million; and Investment banking and brokerage fees and commissions $85 million. Nonperforming assets as a percentage of total assets increased to .52% at 12-31-07 [$696 million], compared to .42% at 9-30-07 [$547 million], and .29% at 12-31-06 [$349 million]. Annualized net charge-offs were .48% of average loans and leases for Q4-07 [$111 million], up from .33% [$68 million] in Q4-06. From the Conference Call Alt-A loans totaled 734 first mortgages - charge offs of only 0.13%. Small real estate subprime, which is 0.6% of loans, from Lend-Mark subsidiary, and it had a.78% loss ratio in Q4-07. 1.9% of portfolio in sub-prime auto loans [Regional Acceptance]. 9% losses in Q4-07 with run rate of 5% losses - and BBT expects 7% losses in 2008. The Break-even on this portfolio is at 10.25% due to loan returns of 20%. BBT has banking franchises in North Carolina, South Carolina, Maryland, Virginia, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, DC. BBT has a 74% LTV ratio and .08% charge offs for whole mortgage portfolio in Q4-07. Real estate is 10% of total loans and Florida was 10% of that. Thus Florida residential lending represents less than 1% of the total loan portfolio. BBT has a larger portion of loans secured by real estate, but they are not real estate loan. Two examples: a commerial accounts recievable loan could have real estate as collateral or a car loan could have real estate as collateral. Looking forward: BBT is not looking for acquisition in regional banks, but looking for insurance agencies. BBT does not take the insurance risk but does do the underwriting. We use a 40% to 50% chance of a recession in our models. Fed expected to aggressively cut - and we should benefit from that. Expect NPAs and loan losses to rise. Charge 0.50 to .60 range - did .40 in 2007. BBT does expect to increase its dividend in 2008. Where are the weaker real estate markets? BBT: In Atlanta the residential is weak but the commercial is strong. Commercial development in Florida has slowed, but there has been no deterioration of credit quality. There is no weakness in Maryland. But in the panhandle of West Virginia - where it is close to DC. In the metro DC suburbs, problems are rising. In response to a question on mortgage renegotiations - BBT: We have done only 200 mortgage 'modifications' out of the thousands of mortgage loans that we have. We do not do low quality loans. CBH Reports Net Income of $0.17 vs. $0.32 in Q4-06 PRNewswire 1-25 Commerce Bancorp reported Q4-07 net income of $33.360 million [$0.17/share] compared to $62.827 million [$0.32/share] in Q4-06. ROA was 0.27% compared to 0.57$ in Q4-06. ROE was 4.52% compared to 9.05% in Q4-06. Book value per share at the end of Q4-07 was $13.79 compared to $14.20 at the end of Q4-06. Net interest income was $370.7 million compared to $325.7 million in Q4-06. FTE net interest income was $377.8 million, an increase of $45.2 million over Q4-06. The net interest margin was 3.32% compared to 3.13% for Q3-07 3.25% for Q4-06. The Cost of funds [or average yield on liabilities] was 2.65% compared to 2.76% in Q4-06. Total Non-Interest Income was $197.045 million compared to $166.638 million in Q4-06. Included in Q4-07 income is a gain of $22 million on CBH's insurance brokerage business. Deposit charges and service fees were $126.964 million, Net investment securities losses were $1.912 million, and Other operating income was $71.993 million. Total non-performing assets were $108.738 million [0.59% of total loans or 0.22% of assets] compared to $100.814 million [0.58% and 0.20%] at the end of Q3-07 and $53.212 million [0.32% and 0.12%] at the end of Q4-06. Net charge-offs were $27.685 million [0.63% of average loans] compared to $4.503 million [0.12%] in Q3-07 and $14.895 million [0.11%] in Q4-06. CHCO Reports Net Income of $0.78 vs. $0.74 in Q4-06 PRNewswire 1-23 City Holding Company reported Q4-07 net income of $12.8 million [$0.78/share] compared to $12.9 million [$0.74/share] in Q4-06. ROA was 2.05% compared to 2.06% in Q4-06. The Return on Average Tangible Equity was 21.56% compared to 20.98% in Q4-06. Book value at the end of Q4-07 was $18.14 compared to $17.46 at the end of Q4-06. FTE net interest income was $24.3 million compared to $25.3 million in Q4-06. CHCO experienced a decrease of $0.3 million in interest income from previously securitized loans as compared to Q4-06 as the average balance of these loans decreased 56.4%. The net interest margin was 4.32% as compared to 4.43% in Q4-06. The average yield on loans (exclusive of Previously Securitized Loans) decreased from 7.14% in Q4-06 to 7.04% in Q4-07, while the average cost of interest bearing liabilities increased from 3.08% to 3.16% in Q4-07 due to an increase in the cost of time deposits of 16 basis points. Total interest-earning assets were $2.230 billion earning $39.215 million at an average yield of 6.97%. Total Non-Interest Income was $14.281 million compared to $13.586 million in Q4-06. Service charges made up $11.735 million of non-interest income. The ratio of non-performing assets to total loans and other real estate owned increased from 0.25% at December 31, 2006 to 1.20% at December 31, 2007 as a result of the downgrade of certain credit relationships. Net charge-offs were $1.0 million for Q4-07. Trends with respect to net charge-offs are improving, with annualized net charge-offs related to loans (excluding overdrafts) of 0.07% for 2007, as compared with 0.11% for 2006 and 0.22% for 2005. CMA Reports Net Income of $0.77 vs. $1.16 in Q4-06 Business Wire 1-17 Comerica reported Q4-07 income from continuing operations of $117 million [$0.77/share] compared to $180 million [$1.17/share] for Q3-07 and $185 million [$1.16/share] for Q4-06. Q4-07 included a $108 million provision for loan losses, compared to $45 million for Q3-07 and $22 million for Q3-06. Q3-07 also included $13 million of noninterest expense related to Comerica's membership in Visa and Q4-06 included $47 million of noninterest income from a lawsuit settlement. ROE was 9.34% compared to 14.38% in Q3-07 and 22.63% in Q4-06. ROA was 0.79% compared to 1.23% in Q3-07 and 2.07% in Q4-06. Book value per share at the end of Q4-07 was $34.18 compared to $33.62 at the end of Q3-07. Net interest income was $489 million compared to $503 million in Q3-07 and $502 million in Q4-06. Net interest margin was 3.43% compared to 3.66% in Q3-06 and 3.75% in Q4-06. This fall in NIM was largely due to securities purchases, competitive loan pricing, interest reversals on new nonaccrual loans, a competitive deposit pricing environment that had a muted reaction to recent Fed rate cuts and an increase in borrowings at higher market-driven costs due to disruptions in financial markets. Total earning assets in Q4-07 were $54.688 billion earning $3.733 billion at an average yield of 6.82%. Total interest-bearing sources were $40.924 billion costing $1.727 billion at an average yield of 4.22%. Noninterest income was $230 million compared to $230 million in Q3-07 and $262 million in Q4-06. Service charges on deposit accounts were $57 million; Fiduciary income $52 million; Commercial lending fees $23 million; Letter of credit fees $16 million; Foreign exchange income $10 million; Brokerage fees $11 million; Card fees $14 million; and Bank-owned life insurance $9 million. Nonperforming assets increased to $423 million [83 basis points of total loans and foreclosed property] from $291 million [0.59%] in Q3-07 and $232 million [0.49%] in Q4-06. Net credit-related charge-offs were $64 million, or 50 basis points as a percent of average total loans, for Q4-07, compared to $40 million, or 32 basis points as a percent of average total loans, for Q3-07. From the Conference call: Projections for 2008: NIM of 3.20% to 3.25% in Q1-08. 40-50 basis point of charge-offs, low single digit growth in non-interest income, and no share repurchases. CMA expects continued softness in western real estate markets. There remains a competetive market in deposit pricing, even with the fall in the Fed funds rate. At the same time, there has not been much change in loan pricing - but it appears to be moving up, especially with smaller loans. We see signs in recent weeks for banks bringing deposit pricing down - so we are becoming more optimistic. Are you using that improving assumption in your 3.20% - 3.25% margin projection? CMA: We believe we will return to more elasticity as 2008 continues. Will there be a catch-up in margins later in the year? CMA: No. Why were construction loans up in Q4? CMA: In Michigan it was down - and there was no growth in our western markets. Growth was in Texas and Florida. Growth tended not to be in residential construction. We did have previous commitments - and the developers increased their unfunded prior commitments. What is your future appetite for acquisitions? CMA: We are interested in acquisition if they fit our model, and in Texas and Arizona. It needs to fill where we want to be. Are you receiving more calls today? CMA: There has been no change. How will a more aggresive Fed in doing rate cuts effect margins? CMA: If the fed cuts more, the outlook for loan growth will change [if Fed cuts more, it will be the result of a worsening economy]. We have reduced our exposure to lowering rates. Your 90 day past due were stable in Q4-07. Is that a trend? CMA: We manage past dues well, so we do not read much into that current trend. Your Q4-07 credit quality metrics were relatively stable - are you selling NPA's before and not able to do so now? CMA: We have sold some real estate assets in 2007 - and expect to do more. If the pricing is right, we will do that. There is not a shortage of people wanting to buy those assets. CRBC Reports Net Income of $0.37 vs. $0.02 in Q4-06 PRNewswire 1-21 Citizens Republic Bancorp reported Q4-07 net income of $28.0 million [$0.37/share] compared to $31.8 million [$0.42/share] in Q3-07 and $0.7 million [$0.02/share] in Q4-06. ROA was 0.83% compared to 0.96% in Q3-07 and 0.04% in Q3-06. ROE was 7.11% compared to 8.20% in Q3-07 and 0.40% in Q4-06. Book value at the end of Q4-07 was $20.84 compared to $20.65 at the end of Q3-07 and $20.58 at the end of Q4-06. Net interest income was $92.2 million compared with $94.9 million for Q3-07 and $64.0 million for Q4-06. The decrease in NII from Q3 was due to the lower net interest margin, partially offset by a $116.1 million increase in average earning assets. The increase in NII over Q4-06 was the result of incorporating Republic's average earning assets, partially offset by the lower net interest margin. Net interest margin was 3.26% compared with 3.39% for Q3-07 and 3.67% for Q4-06. The decrease in NIM from Q3 was primarily the result of deposit price competition. The decrease in NIM from Q4-06 was primarily due to the merger with Republic. Total noninterest income was $29.296 million compared to $17.768 million in Q4-06. Service charges on deposit accounts were $12.350 million and Trust fees were $5.175 million. The increase over Q4-06 was primarily due to recording an other-than-temporary impairment charge of $7.2 million (investment security loss) incorporating Republic revenue. Total Nonperforming Assets at the end of Q4-07 were $251.5 million [1.99% of total loans] compared to $191.0 million [1.68%] at the end of Q4-06. Net charge-offs totaled $19.7 million [0.84% of total loans] compared with $7.9 million [0.34%] for Q3-07. FITB Reports Net Income of $0.07 vs. $0.12 in Q4-06 PRNewswire 1-21 Fifth Third Bancorp reported Q4-07 earnings of $38 million [$0.07/share] compared with $325 million [$0.61/share] in Q3-07 and $66 million [$0.12/share] for Q4-06. Reported results included (1) a non-cash charge of $155 million [$0.29/share] to lower the current cash surrender value of one of our Bank-Owned Life Insurance policies; (2) a non-cash charge of $94 million [$0.12/share] related to Visa litigation; and (3) $8 million [$0.01/share] in acquisition-related costs primarily associated with RG Crown. ROA was 0.14% and ROE was 1.6%. Book value per share at the end of Q4-07 was $17.24 compared to $17.45 at the end of Q3-07 and $18.02 at the end of Q4-06 FTE Net interest income was $785 million compared to $744 million in Q3-06. FTE Net interest margin was 3.29% compared to 3.16% in Q4-06. NIM was down 5 bps from Q3-07 due to the addition of R-G Crown to the balance sheet, which reduced the margin by approximately 3 bps, and the reversal of previously recognized interest on NPAs and the effect of third and fourth quarter trust preferred issuances. Average Yield on interest-earning assets was 6.52% compared to 6.58% in Q4-06. Average Yield on interest-bearing liabilities was 3.78% compared to 4.17% in Q3-06. Noninterest income of $576 million was lower by $146 million sequentially. The decline was driven by the non-cash $155 million insurance charge. Electronic payment processing revenue in Q3-07 was $268 million; Service charges on deposits $160 million; and Corporate banking revenue $106 million. Total net losses charged off were $174 million compared to $97 million in Q4-06. Net charge-offs as a percentage of average loans and leases were 89 bps in Q4-07 compared with 60 bps in Q3-07 and 52 bps in Q4-06. Nonperforming assets at quarter end were $1.1 billion [1.32% of total loans and leases and other real estate owned], up from $706 million [0.92%] in Q3-07 and $455 million [0.61%] in Q4-06. From the Conference call: Home equity loans have been stopped. FITB did not sell any NPAs in Q4-07 - which added to NPA growth. Michigan and Florida real estate [but not neccesarily the builders] were the main contributor to higher NPAs for both commercial loans and consumer loans. We expect Q1-08 to show simular trends in NPA growth. Florida $8.3 billion - most from deals FNB and Crown. LTV - do not have by region. HELOC [Home Equity Line of Credit] 25% of portfolio was brokered - there is $11 billion in book - $2 billion from brokered deals - $1 billion from HGCA business. Appetite for deals? We have a lot on our plate - and not a priority. Focus on integrating recent acquisitions and internal metrics. CNI - looks solid and do not see contagion in that book. Weaknes is only in real estate. And further weakness is mainly in real estate, but assume some softness in CNI during 2008. Fed cut 75 basis points - our balance sheet is somewhat neutral - but this will help our customers who were waiting for cuts - hoping that will spur activity. Should help re-fi book. FMBI Reports Net Income of - $0.11 vs. $0.63 in Q4-06 Market Wire 1-23 First Midwest Bancorp reported for Q4-07 a loss of $5.418 million [- $0.11/share] as compared to $31.528 million [$0.63/share] for Q4-06. A $32.5 million [$0.67/share] after-tax noncash charge associated with the impairment of FMBI's asset-backed collateralized debt securities portfolio was taken in Q4-07. A $.299 million charge was taken in Q4-07 for Visa litigation. Exclusive of the impairment charge, earnings per share performance for the current quarter amounted to $0.56 as compared to $0.55 in Q3-07. ROE was -2.91% compared to 14.57% for Q3-07 and 16.40% for Q4-06. ROA was -0.27% compared to 1.35% for Q3-07 and 1.47% for Q4-06. Book value per share at the end of Q4-07 was $14.94 compared to $14.94 at the end of Q3-07 and $15.01 at the end of Q4-06. Net interest income after provision for loan losses in Q4-07 was $56.056 million compared to $58.898 million in Q4-06. Net interest margin was 3.53% compared to 3.63% for Q3-07 and 3.57% for Q4-06. Yield on average earning assets was 6.67% and Cost of funds was 3.71%. Total noninterest income a loss of $22.465 million compared to a gain of $29.653 million in Q4-06. Security (losses) gains were a loss of $50.041 million compared to a gain of $3.371 million in Q4-06. Service charges on deposit accounts was $11.986 million and Trust and investment management fees were $4.061 million. Loan charge-offs as a percentage of average loans were 0.13% compared to 0.12% for Q3-07 and 0.30% for Q4-06. Nonperforming assets, including ninety-day past due loans totaled $45.9 million [or 0.92% of loans plus foreclosed real estate] at December 31, 2007, compared to $38.2 million [0.77%] at September 30, 2007 and $31.7 million [0.63%] at December 31, 2006. FMER Reports $0.39 vs. $0.07 in Q4-06 PRNewswire 1-22 FirstMerit announced Q4-07 net income of $31.5 million [$0.39/share] compared with $6.1 million [$0.07/share] for Q4-06. ROA was 1.21% compared with 0.24% in Q4-06. ROE was 13.87% compared with 2.66% in Q4-06. Book value was $11.24. FTE Net interest income was $87.6 million compared with $86.6 million in Q3-07 and $84.5 million in Q4-06. Net interest margin grew to 3.66% compared with 3.61% for Q3-07 and 3.58% for Q4-06 due to decreases in funding costs. Total earning assets were $9.493 billion earning $159.455 million at an average yield of 6.66%. Total interest bearing liabilities were $7.791 billion costing $71.808 at an average yield of 3.66%. Non-interest income was $49.993 million compared with $49.124 million in Q3-07 and $48.332 million in Q4-06. Trust department income was $5.896 million; Service charges on deposits $17.067 million; and Credit card fees $12.012 million. Net charge-offs totaled $8.9 million [0.51% of average loans] compared with $7.9 million [0.45%] in Q3-07 and $18.6 million [1.06%] in Q4-06. Nonperforming assets totaled $37.3 million [0.53% of period-end loans plus other real estate] compared with $64.177 million [1.06%] in Q3-07 and $37.038 million [0.45%] in Q4-06. FULT Reports $0.22 vs. $0.27 in Q4-06 Market Wire 1-22 Fulton Financial reported Q407 earnings of $38.179 million [$0.22/share] compared with $46.605 million [$0.27/share] in Q4-06. The two primary reasons for the decrease were an increase in the Provision for loan losses rising to $6.800 million from $1.068 million in Q4-06 and Investment securities losses of $0.537 million compared to gains of $1.915 million in Q4-06. ROA was 0.97% compared with 1.25% in Q4-06. ROE was 9.72% compared with 12.29% in Q4-06. Shareholders' equity per share was $9.07 compared to $8.73 at the end of Q4-06. The Net interest income before loss pervision was $123.651 million compared with $121.745 million in Q4-06. The Net interest margin was 3.56% compared with 3.62% in Q3-07 and 3.68% in Q4-06. Total Interest-earning Assets were $14.253 billion earning $243.629 million at an average yield of 6.80%. Total Interest-bearing Liabilities were $12.150 billion costing $116.418 million at an average yield of 3.80%. Other income or non-interest income was $35.748 million compared with $38.439 million in Q4-06. Investment management and trust services were $9.291 million; Service charges on deposit accounts $13.355 million; Other service charges and fees $8.405 million; and Gains on sale of mortgage loans $2.181 million. Non-performing assets were $120.9 million [0.76% of total assets] compared to $57.8 million [0.39%] at December 31, 2006 and $107.0 million [0.69%] at September 30, 2007. The $63.0 million increase in NPAs since December 31, 2006 was due in part to the repurchases of residential mortgage and home equity loans originated and sold to secondary market investors by Resource Bank due to early payment defaults by borrowers or misrepresentations of borrower information. Annualized net charge-offs were 0.15% of average total loans, compared to 0.06% for the quarter ended December 31, 2006 and 0.08% for the quarter ended September 30, 2007. HBAN Reports Loss of $0.65 vs. Gain of $.37 in Q4-06 PRNewswire 1-17 Huntington Bancshares reported Q4-07 net loss of $239.3 million [- $0.65/share] compared to earnings of $87.7 million [$0.37/share] for Q4-06. HBAN had charges equal to $1.00/share from costs associated with Franklin Credit Management Corporation (Sky Financial had loaned Franklin the money and HBAN bought Sky) [$0.75/share], market-related losses [$0.11/share], merger costs [$0.08/share], a VISA indemnification charge [$0.04/share], and increases to litigation reserves on existing cases [$0.02/share]. ROA was - 1.74% compared with + 1.02% in Q3-07 and + 0.98% in Q4-06. ROE was - 15.3% compared with + 8.80% in Q3-07 and + 11.30% in Q4-06. Book value was $16.24 compared with $17.08 at the end of Q3-07 and $12.80 at the end of Q4-06. FTE Net interest income was $388.296 million compared with $262.104 million in Q4-06. FTE net interest margin was 3.26% compared to 3.28% in Q4-06. The current quarter net interest margin included a one-time negative impact of 15 basis points, reflecting Franklin loans that were put on nonaccrual status from November 16, 2007 until December 28, 2007. Total non-interest income was $170.6 compared with $140.6 million in Q4-06. Service charges on deposit accounts were $81.3 million; Trust services $35.2 million; Brokerage and insurance income $30.3 million; Other service charges and fees $21.9 million; Bank owned life insurance income $13.3 million. Total net charge-offs were $377.9 million [3.77% of average total loans and leases] compared with $23.0 million [0.35%] in Q4-06. $308.5 million of those charges were due to the Franklin restructuring. The remaining $69.4 million of net charge- offs that were non-Franklin-related represented an annualized 0.72% of related loans. Non-performing assets were $1.660 billion at December 31, 2007 compared with $193.6 million at the end of 2006. Non-accrual loans were $319.8 million at December 31, 2007, and represented 0.80% of related assets. This compared with $144.1 million, or 0.55%, at the end of the 2006. One Time Gain of $0.81/share Boosts MBFI to $1.02 vs. $0.49 in Q4-06 Business Wire 1-25 MB Financial reported Q4-07 net income of $36.4 million [$1.02/share] compared to $18.1 million $.49/share] in Q4-06 and $18.3 million [$0.51/share] for Q3-07. Q4-07 contained a gain of $28.8 million [$0.81/share] from the sale of MBFI's Oklahoma City-based subsidiary bank, Union Bank.ROA was 0.40% compared to 0.86% in Q4-06. ROE was 3.68% compared to 8.08% in Q4-06. Book value per share was $24.91 compared to $23.10 at the end of Q4-06. While Net interest income was $53.972 million compared to $51.897 million in Q4-06, the NII after loan loss provision was $45.972 million compared to $48.084 million in Q4-06. FTE net interest margin was 3.28%. Total interest earning assets were $6.766 billion earning $116.842 million at an average yield of 6.85%. Total interest bearing liabilities were $5.900 billion costing $60.857 million at an average yield of 4.09%. Non-interest income was $22.981 million compared to $23.259 million in Q3-07 and $21.366 million in Q4-06. Deposit service fees were $6.635 million; Merchant card processing $4.293 million; Lease financing fees $4.155 million; Loan service fees $2.080 million; Trust and asset management fees $2.101; and Brokerage fees $1.846 million. Total non-performing assets $25.758 million with one loan of $8 million and the rest under $1.5 million [0.44% of total loans or 0.33% of total assets] compared to $24.755 million [0.44% and 0.31%] in Q3-07 and $24.504 million [0.44% and 0.31%] in Q4-06. Net charge-offs were $4.019 million [0.29% of average loans] commpared to $2.436 million [0.18%] in Q3-07 and $2.956 million [0.24%] in Q4-07. From the Conference Call: Charge-offs will be very lumpy, so quarter to quarter comparisons are frequently not a good barometer of trends. MBFI found prior loan spreads insufficient as those giving loans were not paid for the risk - and finds todays environment much more rational. But there still are exceptions. This we MBFI saw a local banks offering a 5.2% loan on real estate while also offering CDs at 5.1%. We think the deposit side is off and believe spreads will continue to grow. MI Reports Jump in Income from Metavante Sale PRNewswire 1-15 Marshall & Ilsley reported Q4-07 net income of $493.9 million [$1.83/share] as compared to $205.4 million [$0.79/share] in Q4-06. MI had a Q4-07 gain on the divestiture of Metavante Technologies of $526 million. MI reported a Q4-07 loss from continuing operations of $24.5 million [$0.09/share] as compared to $161.4 million [$0.62/share] in Q4-06. There was a load of things that made quarter to quarter comparisons difficult. [1] M&I sold three branches in the Tulsa resulting in an after-tax gain of $17 million. [2] M&I retired $1 billion of Puttable Reset Securities ("PURS") and incurred a one-time, after-tax charge of $48 million. [3] M&I accrued an after-tax liability of $17 million in connection with its share of the proposed settlement of the American Express antitrust litigation against Visa. [4] M&I posted charge-offs of $192 million and a loan loss provision of $235 million.ROA was 3.30% compared to 1.47% for Q4-06. ROE was 27.3% compared to 13.5% for Q4-06. Book Value at the end of Q4-07 was $26.86 compared to $24.24 at the end of Q4-06. FTE net interest income was $425.9 million - up 5% compared to Q4-06. The net interest margin was 3.13%, up 6 basis points on a linked quarter basis but down from 3.21% in Q4-06. Interest Earning Assets had an average yield of 6.87% compared to 7.08% in Q4-06. Interest Bearing Liabilities had an avearge cost of 4.45% compared to 4.53% in Q4-06. Total Non-Interest Revenues in Q4-07 were $203.7 million compared to $139.1 million in Q4-06. Wealth Management was $70.1 million vs. $57.9 million in Q4-06; Service Charge on Deposits $32.0 vs. $28.0 million; Mortgage Banking $5.4 vs. $12.1 million; Net Investment Securities Gains $4.9 vs. $3.1 million. Net charge-offs for the period were $191.6 million, or 1.67% of total average loans and leases outstanding this quarter, and $15.0 million a year ago or 0.14% of total average loans and leases. Non-accrual loans and leases were 1.48% of total loans and leases at December 31, 2007, compared to 0.63% at December 31, 2006. MTB Reports Net Income of $0.60 vs. $1.88 in Q4-06 BusinessWire 1-15 M&T Bank Corporation reported Q4-07 Net income of $65 million [$0.60/share] compared with $213 million [$1.88/share] in Q4-06. Earnings were inpacted by (1) an impairment of collateralized debt obligations backed by sub-prime residential mortgage securities of $127 million [$78 million after tax of $0.71/share] (2) Visa litigation accrual of $23 million [$14 million after tax or $0.13/share] and (3) a provision for credit losses in excess of net charge-offs of $48 million [$29 million after tax or $0.27/share. ROA was .42% vs. 1.50% in Q4-06. ROE was 4.05% compared with 13.55% in Q4-06. Stockholders' equity of $6.247 billion divided by the diluted shares outstanding of 109.034 million results in a calcuated book value of $57.29. FTE net interest income was $476 million compared to $472 million in Q4-06. Net interest margin was 3.45% compared with $42.5 3.73% in Q4-06 and 3.65% in Q3-07. The Yield on average earning assets was 6.65% compared to 6.92% in Q4-06. The Cost of interest-bearing liabilities was 3.75% compared to 3.83% in Q4-06. Noninterest income of $160 million was down 37% from $256 million in Q4-06 quarter due to the impairment charge. Excluding that charge, noninterest income was $288 million, up 12% from Q4-06. Mortgage banking revenues in Q4-07 were $30.831 million compared with $30.299 million in Q4-06; Service charges on deposit accounts were $105.847 compared with $96.211 million; and Trust income was $39.945 compared with $37.004 million. Net charge-offs of loans were $53 million [.46% of average loans outstanding] compared with $24 million [.23%] during Q4-06. Loans classified as nonperforming totaled $447 million, or .93% of total loans at December 31, 2007, compared with $224 million or .52% a year earlier and $371 million or .83% at September 30, 2007. NAL Reports Net Income of $0.11 vs. $0.11 in Q4-06 BusinessWire 1-29 NewAlliance Bancshares reported Q4-07 net income of $10.935 million [$0.11/share] compared with $10.909 million [$.11/share] in Q4-06. ROA was 0.53% compared with 0.37% in Q3-07 and 0.61% in Q4-06. ROE was 3.10% compared with 2.09% in Q3-07 and 3.21% in Q4-06. Book value per share at December 31, 2007 was $12.93, up from $12.71 at the end of Q3-07. Net interest income after provision for loan losses was $43.030 million compared with $39.321 million in Q4-06. Net interest margin remained level with the third quarter at 2.49% and improved one basis point from Q4-06. Total interest-earning assets were $7.277 billion earning $106.510 million at an average yield of 5.85%. Total interest-bearing liabilities were $6.254 billion costing $61.180 million at an average yield of 3.91%. Total non-interest income was $14.246 million compared to $12.567 million in Q4-06. Depositor service charges were $7.030 million; Trust fees $1.715 million; Investment management, brokerage & insurance fees $1.300 million; Bank owned life insurance $1.567 million. Nonperforming loans to total loans were $16.386 million [0.35% of total loans] as compared to $19.435 million [0.42%] in Q3-07 and $12.468 million [0.33%] in Q4-07. Nonperforming assets were $17.283 million [0.21% of total assets] as compared to $19.547 million [0.24%] for Q3-07 and $12.468 million [0.17%] in Q4-06. Net charge-offs did increase slightly to $1.5 million. NBTB Reports Net Income of $0.28 vs. $0.40 in Q4-06 Market Wire 1-28 NBT Bancorp reported Q4-07 net income of $9.0 million [$0.28/share] compared to $13.6 million [$0.40/share] in Q4-06. The decrease was primarily the result of a $10.0 million increase in the provision for loan and lease losses. ROA was 0.69% compared to 1.07% in Q4-06. ROE was 9.06% compared to 13.31% in Q4-06. Book Value Per Share was $12.29 compared to $11.79 at the end of Q4-06. The net interest income increased 1.0% to $41.9 million, from $41.4 million in Q4-06, which was attributable to a 1.7% growth in average earning assets. The net interest margin was 3.61%, down from 3.63% for Q4-06. Noninterest income was $16.5 million, up $4.2 million or 33.7% from $12.3 million for Q4-06. The increase was due primarily to an increase in fees from service charges on deposit accounts and ATM and debit cards, which collectively increased $3.0 million. Service charges on deposit accounts were $7.142 million; ATM and debit card fees $2.089 million; and Broker/dealer and insurance revenue $1.052 million. Nonperforming loans at December 31, 2007 were $30.6 million [0.88% of total loans and leases] compared with $30.7 million [0.90%] at September 30, 2007, and $15.3 million or 0.45% of total loans and leases at December 31, 2006. Total Nonperforming Assets were $31.139 [0.60% of total assets] compared with $15.696 million [0.31%] in Q4-06. Net charge-offs totaled $14.1 million and $3.5 million during the fourth quarters of 2007 and 2006. Net charge-offs to average loans and leases for the year ended December 31, 2007, were 0.77%, compared with 0.26% for the year ended December 31, 2006. NCC Reports Net Income of - $0.53 vs. + $1.36 in Q4-06 BusinessWire 1-18 National City Corporation reported a net loss for Q4-07 of $333 million [$0.53/share]. The loss resulted from a large provision for credit losses, losses on mortgage loans held for sale, charges related to Visa, and severance charges associated with employment reductions. In addition, NCC recorded a charge of $181 million representing the impairment of goodwill associated with the mortgage business. The goodwill impairment charge reduced net income by $.26 per diluted share but had no impact on cash flows, tangible book value or regulatory capital. ROE and ROA were negative and the numbers were not given, but a $333 million loss with equity of $13.408 billion calculates to a ROE of -2.48% and with assets of $150.374 billion calculates to a ROA of -0.22%. Book value at the end of Q4-07 was $21.15 compared to $21.86 at the end of Q3-07. FTE net interest income was $1.1 billion for Q4-07, about equal to the preceding quarter, and down slightly compared with Q4-06. Average earning assets for Q4-07 were $134.1 billion, an increase of 5% compared to Q3-07, and 10% compared to Q4-06. Net interest margin was 3.30% in Q4-07, compared to 3.43% in Q3-07, and 3.73% in Q4-06. The lower margin in the fourth quarter 2007 reflects higher LIBOR-based funding costs, narrower spreads on both commercial and consumer loans, and lower levels of noninterest-bearing funds compared to the fourth quarter a year ago. Noninterest income was $597 million for Q4-07, compared to $624 million in Q3-07, and $1.7 billion in Q4-06. Noninterest income for the last half of 2007 reflects losses on mortgage loans held for sale due to unfavorable or illiquid markets for many mortgage products. Noninterest income for Q4-06 included a $984 million pretax gain on the sale of the Corporation's former First Franklin unit. Net loan sale (loss)/revenue was $(149) million in Q4-07, $(74) million in Q3-07, versus $122 million in Q4-06. Net charge-offs in Q4-07 were $275 million [0.96% of average portfolio loans] compared with $141 million [0.54%] in Q3-07 and $128 million [0.54%] in Q4-06. Nonperforming assets were $1.5 billion [1.31% of portfolio loans] at December 31, 2007, up from $732 million [0.76%] a year ago, primarily due to a larger number of delinquent residential real estate loans. NTRS Reports Net Income of $0.55 vs. $0.77 in Q4-06 PRNewswire 1-16 Northern Trust reported Q4-07 Net income of $125.0 million [$0.55/share] compared with $170.8 million [$0.77/share] in Q4-06. Q4-07 was were significantly impacted by a $150 million charge [$.42/share] for Visa liltigation. ROE was 11.34% compared with 17.14% in Q4-06. ROA was 0.77% compared with 1.18% in Q4-06. Book Value at the end of Q4-07 was $20.44 compared with $18.03 at the end of Q4-06. FTE Net interest income was $246.8 million compared with $206.6 million in Q4-06. The net interest margin equaled 1.74% compared with 1.67% in Q4-06. Total Noninterest income was $726.0 million compared with $569.4 million in Q4-06. Trust, Investment and Other Servicing Fees were $547.2 million and Foreign Exchange Trading Income $111.2 million. NTRS divides Trust and service fees into two components. Corporate & Institutional Services (C&IS) increased 24% from the year-ago quarter to $314.6 million, reflecting strong new business and higher equity markets. C&IS assets under custody totaled $3.8 trillion, up 17% from a year ago. Fees from Personal Financial Services (PFS) in the quarter increased 14% and totaled a record $232.6 million compared with $203.8 million a year ago. The increase in PFS fees resulted primarily from strong new business and higher equity markets. PFS assets under management totaled $148.3 billion, a 10% increase from $134.7 billion last year. Nonperforming loans totaled $23.2 million [.09% of total loans and leases] at December 31, 2007, compared with $23.4 million at September 30, 2007 and $35.7 million at December 31, 2006. Net Charge-offs were $2.3 million [0.04% of average loans] compared with $2.0 million [0.03%] in Q3-07 and $0.4 million [0.01%] in Q4-06. ONB Reports Net Income of $0.34 vs. $0.27 in Q4-06 Press Release of 1-28 Old National Bancorp reported Q4-07 earnings of $22.0 million [$0.34/share] compared to [$0.27/share] in Q4-06 and unchanged from the $.34/share earned in Q3-07. Provision for loan losses recorded during Q4-07 was $1.7 million, compared to no provision recorded in both Q3-07 and Q4-06. ROA was 1.14% compared to .87% in Q4-06. ROE was 13.39% compared to 10.87% in Q4-06. Book Value was $9.86 compared to $9.66 at the end of Q4-06. The net interest income was $62.2 million compared to $59.5 million in Q3-07. The net interest margin was 3.56% compared to 3.37% for Q3-07 and 3.09% in Q4-06. The variance is even more significant given Q3-07 contained an interest recovery on loans which positively impacted the net interest margin by nine basis points. Contributing significantly was the interest-bearing deposit and brokered CD rate, declining from 3.47% in Q3 to 3.11% in Q4. In addition, the wholesale funding rate decreased from 5.55% in Q3 to 5.09% in Q4. Total fees, service charges and other revenue totaled $43.7 million, compared to $37.9 million in Q3-07 and $37.3 million in Q4-06. Non-Performing Loans were $40.8 million in Q4-07 compared to $49.3 million in Q3-07 and $41.6 million in Q4-06. Net Charge-Off Ratio was .79% compared to 0.28% in Q4-07 and 0.37% for full year 2006. SNV Reports Net Income of $0.23 vs. $0.31 in Q4-06 PRNewswire 1-24 Synovus reported Q4-04 net income was $81.9 million [$0.25/share] compared to $175.5 million [$0.54/share] for Q4-06. The Q4-07 results include $25.0 million [$0.07/share] in expenses related to the distribution of Synovus’ ownership interest in TSYS to Synovus’ shareholders in a spin-off transaction and $15.2 million [$.05/share] in Visa litigation expenses. ROA was 0.96% compared to 1.70% in Q3-07 and 2.22% in Q4-06. ROE was 7.97% compared to 14.02% in Q3-07 and 19.03% in Q3-06. Book value per share at the end of Q4-07 was $10.42 compared to $12.34 at the end of Q3-07 and $11.39 at the end of Q4-06. Net interest income after provision $216.043 million compared to $232.069 million in Q3-07 and $270.196 million in Q4-06. The Net Interest Margin was 3.86% compared to 3.97% in Q3-07 and 4.16% in Q4-06. Average yield of Interest Earning Assets was 7.42%. Average yield on Interest Bearing Core Deposits 3.87%. Total non-interest income was $98.998 million compared to $106.194 million in Q3-07 and $97.594 million in Q4-06. Nonperforming Assets at the end of Q4-07 were $443.569 million [1.67% of loans & ORE] compared to $300.569 million [1.16%] in Q3-07 and $122.545 million [0.39%] in Q4-06. Net Charge-Offs were $59.916 million [0.46% of average loans] compared to $33.013 million [0.30%] in Q3-07 and $24.190 million [0.26%] in Q4-06. SUSQ Reports Net Income of $0.27 vs. $0.41 in Q4-06 Business Wire 1-22 Susquehanna Bancshares reported Q4-07 Net income of $18.7 million [$0.27/share] compared to $21.4 million [$0.41/share] for Q4-06. Q4-07 includes $13.1 million of pre-tax charges [$0.13/share] related to the acquisition of Community Banks and a $13 million increase in the loan loss provision. ROA was 0.69% compared to 1.05% in Q4-06. ROE was 10.94% compared to 14.96% for Q4-06. Book Value per Share was $20.12 compared to $17.98 at the end of Q4-06. Net interest income was $83.344 million compared to $63.792 million in Q4-06. The Provision for loan and lease losses was $15.497 million compared to $2.488 million in Q4-06. The Net interest margin increased 5 basis points to 3.69% from 3.64% in Q3-07 and 3.67% in Q4-06. Total interest-earning assets were $9.144 billion earning FTE $158.698 million at an average yield of 6.89%. Total interest-bearing liabilities were $8.113 billion earning $73.539 million at an average yield of 3.60%. Noninterest income was $36.938 million compared to $35,303 million in Q4-06. Service charges on deposit accounts were $10.378 million; Vehicle origination, servicing, and securitization fees $2.759 million; Asset management fees $5.205 million; Income from fiduciary-related activities $2.542 million; Commissions on property and casualty insurance sales $3.163 million; and Income from bank-owned life insurance $3.341 million. Net charge-offs were $4.734 million [0.26% of average loans and leases] compared to $0.988 million [0.07%] in Q4-06. Total nonperforming assets were $71.251 million [1.01% of total loans and leases] compared to $37.245 million [1.13%] in Q4-06. UCBI Reports Net Income of $0.13 vs. $0.44 in Q4-06 Market Wire 1-23 United Community Banks reported Q4-07 revenues of $59.3 million [$0.13/share] compared to $72.1 million [$.44/share] for Q4-06. ROE was 2.01% compared with 10.66% in Q3-07 and 13.26% in Q4-06. ROA was 0.20% compared with 1.11% in Q3-07 and 1.10% in Q4-06. Book value was $17.73 compared with $17.53 at the end of Q3-07 and $14.37 at the end of Q4-06. Net interest revenue before provision was $69.247 million compared to $62.034 million in Q4-06. The Provision for loan losses was $29.500 million compared to $3.700 million in Q4-06. Net interest margin was 3.73% compared to 3.89% in Q3-07 and 3.99% in Q4-06. Total interest-earning assets were $7.425 billion earning $140.768 million at an average yield of 7.53%. Total interest-bearing liabilities were $6.577 billion costing $71.038 million at an average yield of 4.29%. Total fee revenue was $16.100 million compared to $13.215 million in Q4-06. Service charges and fees were $8.350 million. Net charge-offs were $31.0 million [2.07% of average loans] compared with $5.2 million [0.35%] for Q3-07 and $1.9 million [0.15%] for Q4-06. Non-performing assets totaled $46.3 million [0.56% of total assets], compared with $63.3 million [0.77%] at September 30, 2007 and $13.7 million [0.19%] at December 31, 2006. USB Reports Net Income of $0.53 vs. $0.66 in Q4-06 Business Wire 1-15 U.S. Bancorp reported Q4-07 net income of $942 million [$0.53/share] compared with $1,194 million [$0.66/share] for Q4-06. ROA was 1.63% vs. 2.18% in Q4-06. ROE was 18.3% compared with 23.2% in Q3-06. Several significant items impacted USB’s quarterly results, including the pretax charges of $215 million for USB’s proportionate share of a contingent obligation to indemnify Visa for certain litigation matters and $107 million for valuation losses related to securities purchased from certain money market funds managed by an affiliate. The cumulative impact was approximately $.13/share. Q4-06 included a $52 million gain related to the sale of a 401(k) recordkeeping business, a $22 million debt prepayment charge and a reduction in tax liabilities related to the resolution of various income tax examinations. Book value per share at the end of Q4-07 was $11.60 compared to $11.41 and the end of Q3-07 and $11.44 at the end of Q4-06. FTE Net interest income in Q4-07 grew to $1.763 billion [compared to $1.685 billion in Q3-07] due to growth in average earning assets of $5.4 billion. The net interest margin was 3.51% compared with 3.44% in Q3-07 and 3.56% in Q4-06. USB had declining net free funds relative to Q4-06 primarily due to a decline in noninterest-bearing deposits, an investment in bank-owned life insurance, share repurchases and the impact of acquisitions. An increase in loan fees from a year ago and improved wholesale funding rates partially offset these factors. NIM [compared to Q3-07] benefited by an increase in net free funds and higher yield-related loan fees. The average yield on earning assets was 6.81% compared to 6.90% in Q3-07 and 6.79% in Q4-06. The average rate paid on interest-bearing liabilities was 3.83% compared to 4.01% in Q3-07 and 3.84% in Q4-06. Noninterest income in Q2-07 was $1.777 billion compared to $1.844 billion in Q3-07. Credit and debit card revenue in Q4-07 was $281 million compared to $235 million in Q3-07 and $210 million in Q4-06; Corporate payment products revenue $165 vs. $164 and $141 million; Merchant processing services $279 million vs. $287 and $244 million; Trust and investment management fees $344 vs. $331 and $319 million; and Deposit service charges $272 vs. $271 and $259 million. Total net charge-offs in Q4-07 were $225 million, compared $199 million in Q3-07 and $169 million in Q4-06. Nonperforming assets at December 31, 2007, totaled $690 million [0.45% of loans and ORE], compared with $641 million [0.43%] at September 30, 2007, and $587 million [0.41%] at December 31, 2006. USB expects nonperforming assets to increase moderately over the next several quarters due to continued stress in residential mortgages and residential construction. From the Conference Call: Mathew O'Connor with UBS - how will you take advantage of the current downturn on the commercial lending side? USB: The majority of pere focused on internal items - we are not. We have ability to focus on offense. Peers could be cutting staff and expenses. We want to take advantage of this opportunity. We have a financial advantage - a P/E advantage. We have no need to make acquisitions to grow, but we will not overlook an acquisition opportunity. We are the 6th largest US bank in size. We are big - but not too big enough to manage [implying Citi is too big to manage?]. Chris Mastochio with Steffel Nicholas - what helped Q4 margin and by how much? USB: [1] We did not purchase stock. [2] We benefited from downward trends in rates. [3] The turbulence in financial markets helped us cut the wholesale funding costs. Chris asked "How many basis points of help was that? USB: Around 7 basis points. Chris: If Fed cuts? USB: We are liability sensitive and that will help. But that help will diminish as rates go down. Chris: The 90 days past dues were up? USB: It is a concern. Bankrupcies can come at you faster than in the past because the market has more and faster moving dymanics. VLY Reports Net Income of $0.23 vs. $0.31 in Q4-06 PRNewswire 1-24 Valley National Bancorp reported Q4-07 net income of $27.7 million [$0.23/share] as compared to $38.1 million [$0.31/share] in Q4-06. The results of Q4-07 include impairment charges on securities and goodwill totaling $11.9 million [$0.10/share]. ROA was 0.89% compared to 1.24% in Q4-06. ROE was 11.68% compared to 15.89% in Q4-06. Book value at the end of Q4-07 was $7.92 compared to $7.84 at the end of Q4-06. FTE Net interest income increased $866 thousand to $96.8 million compared to Q3-07 as the decline in Valley's funding costs more than mitigated the lower yield on loans. FTE net interest margin was 3.41%, one basis point greater than Q3-07, primarily due to lower funding costs on deposits. Total non-interest income was $5.186 million compared to $19.795 million in Q4-06. Losses on securities transactions were $15.894 compared to $2.259 million in Q4-06. Service charges on deposit accounts were $7.028 million compared to $5.943 million in Q4-06. Bank owned life insurance fees were $3.291 million compared to $2.076 million in Q4-06. Insurance premiums were $2.438 million compared to $2.763 million in Q4-06. Trust and investment services fees were $1.863 million compared to $1.701 million in Q4-06. Net loan charge-offs were $4.6 million compared to $3.9 million for Q4-06 and $2.9 million for Q3-07. Total non-performing assets were $32.698 million [0.38% of total loans] compared to $28.867 million [0.35%] in Q4-06. WL Reports Net Income of $0.65 vs. $0.68 in Q4-06 BusinessWire 1-18 Wilmington Trust reported Q4-07 net income of $44.0 million [$0.65/share] compared to $47.5 million [$0.68/share] in Q4-06. Q4-07 contained $3.2 million of expenses from Wilmington Trust's share of Visa litigation. ROE was 15.96% compared to 17.66% in Q4-06. ROA was 1.57% compared to 1.73% in Q4-06. Book value at the end of Q4-07 was $16.55 compared to $15.47 at the end of Q4-06. Net interest income was $91.1 million compared to $92.4 million in Q4-06. The net interest margin fell 17 basis points from the third quarter, to 3.56%, compared to 3.65% in Q4-06. The average yield on total earning assets was 6.92% compared to 7.19% in Q4-06. The average cost of total interest-bearing liabilities was 3.80% compared to 4.00% in Q4-06. Noninterest income was $102.7 million compared to $92.5 million in Q4-06. Total Wealth Management Advisory Services generated $59.1 million in Q4-07; Corporate Client Services $26.2 million; and Service charges on deposit accounts $7.3 million. Net charge-offs totaled $9.7 million, or 12 basis points. Total nonperforming loans were $80.6 million [0.95% of loans] compared to $35.8 million [0.44% of loans] in Q4-06. NCC Cuts Dividend Forbes 1-02 Mortgage woes caused National City announced it would slash its quarterly dividend by 48.7% to 21 cents per share from 41 cents per share. National City will pay its next dividend on February 1st to shareholders who held its stock on January 14th. "Today's environment requires aggressive steps to overcome the near-term challenges facing the industry and our company, while positioning our businesses to continue delivering solid performance," said National City Chief Executive Officer Peter E. Raskind. During the third-quarter, National City's mortgage business lost $152 million as the value of its mortgage holdings plummeted. The mortgage woes chopped the company's profits 80% lower than a year ago. NOTE: Huntington Bancshares and FNB also cut their dividends. Ratings & Dividend Changes On 1-02 Janney Mntgmy Scott Downgraded NTRS from Buy to Neutral. On 1-08 Robert W. Baird Initiated coverage of BBT, MI and USB at Neutral. On 1-08 Robert W. Baird Initiated coverage of CMA and MTB at Outperform. On 1-15 Citigroup Upgraded MTB from Sell to Hold. On 1-16 Citigroup Initiated coverage of BBT at Hold. On 1-18 Keefe Bruyette Upgraded BBT from Underperform to Market Perform. On 1-16 SUSQ declared a dividend of $0.26/share payable on 2-20-08 to shareholders of record 2-01-08. On 1-16 HBAN declared a dividend of $0.265/share payable April 1, 2008, to shareholders of record on March 14, 2008. On 1-17 WL declared a dividend of $0.335/share to be paid 2-15-08 to stockholders of 2-01-08. On 1-29 NAL declared a dividend of $0.065/share to be paid on February 19, 2008 to shareholders of record on February 8, 2008. Home Page Factoids Previous Update |