Mb Financial Inc Md (MBFI) 10-Q Quarterly Report Tue Nov 07 2017

CHICAGO, October 19, 2017 – MB Financial, Inc. (NASDAQ: MBFI), the holding company for MB Financial Bank, N.A., today announced third quarter 2017 net income of $60.8 million compared to $44.5 million last quarter and $44.4 million in the third quarter a year ago. Diluted earnings per common share were $0.69 in the third quarter of 2017 compared to $0.50 last quarter and $0.54 in the third quarter a year ago.

"Our record quarter is directly related to executing our long-term strategy," stated Mitchell Feiger, President and Chief Executive Officer of MB Financial, Inc. "We are intent on building a bank with superior returns and lower risk. Our results this quarter show our progress with solid performance across all business units. We believe our strategic combination of high quality low-cost deposits; strong and rapidly growing fee businesses; revenue, profit, loan, and deposit diversification; and close attention to credit quality will lead to peer-leading performance."

Mr. Feiger continued, "Our operating earnings increased by 31.5% to $62.8 million, this quarter, which is an all-time record. This can be attributed to several factors including an increase in net interest income, decreased provision for credit losses, increased lease financing revenues, controlled expenses and certain tax benefits. In addition, annualized loan growth was 8.5%, on top of the 21.2% recorded last quarter. Further, credit quality remained strong in the third quarter with net recoveries of $0.6 million and non-performing loans down two basis points to 0.36% of total loans."

Operating Earnings (in thousands, except per share data)



												Nine Months Ended
												September 30,
	3Q17		2Q17		1Q17			4Q16		3Q16		2017		2016
Net income - as reported	$	60,843	$	44,466	$	54,537		$	47,191	$	44,419	$	159,846	$	126,945
Non-core items, net of tax ⁽¹⁾	1,942		3,292		(1,358		)	4,656		7,496		3,876		11,705
Operating earnings	62,785		47,758		53,179			51,847		51,915		163,722		138,650
Dividends on preferred shares	2,002		2,002		2,003			2,005		2,004		6,007		6,004
Operating earnings available to common stockholders	$	60,783	$	45,756	$	51,176		$	49,842	$	49,911	$	157,715	$	132,646
Diluted earnings per common share - as reported	$	0.69	$	0.50	$	0.62		$	0.53	$	0.54	$	1.81	$	1.60
Diluted operating earnings per common share	$	0.72	$	0.54	$	0.60		$	0.59	$	0.63	$	1.86	$	1.75


⁽¹⁾	Non-core items represent the difference between non-core non-interest income and non-core non-interest expense net of tax.

See "Non-GAAP Financial Information" section for details on non-core items.

The following information was filed by Mb Financial Inc Md (MBFI) on Thursday, October 19, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Mb Financial Inc Md provided additional information to their SEC Filing as exhibits

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Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: MBFI
CIK: 1139812
Form Type: 10-Q Quarterly Report
Accession Number: 0001139812-17-000037
Submitted to the SEC: Mon Nov 06 2017 6:21:26 PM EST
Accepted by the SEC: Tue Nov 07 2017
Period: Saturday, September 30, 2017
Industry: National Commercial Banks

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Mb Financial Inc Md (MBFI) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

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