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July 2021
May 2021
May 2021
May 2021
April 2021
April 2021
April 2021
March 2021
January 2021
January 2021
Summary Financial Results - Reported | ||||||||||||||||||||||||||||||||
% Change | ||||||||||||||||||||||||||||||||
($ in millions, except for per share data) | 2Q20 | 1Q20 | 2Q19 | LQ | Y/Y | |||||||||||||||||||||||||||
Net income/(loss) | $(3.3) | $0.8 | $19.4 | nm | nm | |||||||||||||||||||||||||||
Diluted earnings/(loss) per share | $(0.04) | $0.01 | $0.22 | nm | nm | |||||||||||||||||||||||||||
Non-GAAP Financial Measures: | ||||||||||||||||||||||||||||||||
Pre-tax, pre-provision income | $20.1 | $17.9 | $26.2 | 13 | % | (23) | % | |||||||||||||||||||||||||
Return on average common equity ("ROACE") | (1.6) | % | 0.4 | % | 9.8 | % | ||||||||||||||||||||||||||
Return on average tangible common equity ("ROATCE") | (1.4) | % | 0.7 | % | 11.1 | % | ||||||||||||||||||||||||||
nm = not meaningful | ||||||||||||||||||||||||||||||||
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Boston Private Financial Holdings Inc.
Boston Private Financial Holdings Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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The decreases were primarily driven by decreases in depreciation expense on leasehold improvements and rent expense due to lease expirations that were not renewed.
Total operating expense for the six months ended June 30, 2020 increased $6.1 million, or 5%, compared to the same period in 2019, primarily due to increases in Other expense, Information systems expense, Marketing and business development expense, and Salaries and employee benefits expense, partially offset by decreases in Restructuring expense, Occupancy and equipment expense, and FDIC insurance expense.
Key items that affected the Company's results in the second quarter of 2020 compared to the same period of 2019 include: Provision expense for loan losses increased $21.2 million to $22.6 million for the three months ended June 30, 2020, compared to the same period of 2019.
When credit quality declines and loans are placed on nonaccrual status, NIM can decrease because the same assets are earning less income.
The Company estimates credit losses on a collective basis for loans sharing similar risk characteristics using a quantitative model combined with an assessment of certain qualitative factors designed to address forecast risk and model risk inherent in the quantitative model output.
Although the Bank's capital currently...Read more
Total other liabilities, which consist...Read more
The increase in Total operating...Read more
The increase in shareholders' equity...Read more
During the second quarter of...Read more
The increase in AUM was...Read more
The increases in the average...Read more
We are also focused on...Read more
At June 30, 2020 and...Read more
Interest income on other consumer...Read more
These items were partially offset...Read more
Goodwill and intangible assets, net...Read more
The Bank pays dividends to...Read more
For the six months ended...Read more
The increase was primarily driven...Read more
The SBA has issued an...Read more
Restructuring expense decreased for the...Read more
Investment maturities, redemptions, principal payments,...Read more
Occupancy and equipment expense decreased...Read more
For instance, when there is...Read more
The sale of such loans...Read more
Total interest expense for the...Read more
For the six months ended...Read more
Lease liabilities decreased $9.0 million,...Read more
At June 30, 2020, consolidated...Read more
Interest income on home equity...Read more
The decreases in the average...Read more
Critical Accounting Policies Critical accounting...Read more
Interest paid on non-deposit interest-bearing...Read more
For the six months ended...Read more
The Company utilized cash to...Read more
The increase in Total other...Read more
Loans that evidence weakness or...Read more
Net interest income remained relatively...Read more
"Notes to Unaudited Consolidated Financial...Read more
Loans graded as substandard but...Read more
The Company believes that its...Read more
In order to qualify for...Read more
Net interest margin ("NIM") was...Read more
Accordingly, there can be no...Read more
As of June 30, 2020,...Read more
For the six months ended...Read more
For the six months ended...Read more
In addition, the Bank collects...Read more
46 Executive Summary The Company...Read more
The effective tax rate for...Read more
In certain instances, although very...Read more
The decreases in the average...Read more
Interest income on residential mortgage...Read more
The Company recorded Net loss...Read more
As of June 30, 2020,...Read more
Due to the relatively low...Read more
Interest rate spread is the...Read more
The provision/(credit) for loan losses...Read more
Capital Resources Total shareholders' equity...Read more
Total borrowings (consisting of Securities...Read more
A Federal Reserve-supervised institution, such...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Boston Private Financial Holdings Inc provided additional information to their SEC Filing as exhibits
Ticker: BPFH
CIK: 821127
Form Type: 10-Q Quarterly Report
Accession Number: 0000821127-20-000189
Submitted to the SEC: Thu Aug 06 2020 4:02:29 PM EST
Accepted by the SEC: Thu Aug 06 2020
Period: Tuesday, June 30, 2020
Industry: State Commercial Banks