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Mb Financial Inc Md (MBFI) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Mb Financial Inc Md

CIK: 1139812 Ticker: MBFI



EXHIBIT 99.1
                                    
mbfilogoblacka08.jpg
2Q18



MB FINANCIAL, INC. REPORTS SECOND QUARTER 2018 NET INCOME


CHICAGO, July 19, 2018 – MB Financial, Inc. (NASDAQ: MBFI), the holding company for MB Financial Bank, N.A., today announced second quarter 2018 net income of $38.5 million compared to $56.8 million last quarter and $44.5 million in the second quarter a year ago.  Diluted earnings per common share were $0.42 in the second quarter of 2018 compared to $0.81 last quarter and $0.50 in the second quarter a year ago.   
 
Operating Earnings (in thousands, except per share data)

The table below reconciles net income, as reported, to operating earnings excluding our Mortgage Banking Segment. As previously announced, we have discontinued our national mortgage origination business (substantially all originations outside of the Company's consumer banking footprint in the Chicagoland area). Therefore, we believe operating earnings excluding our Mortgage Banking Segment better reflect our primary operations until the wind down of the segment is complete, as we are retaining the mortgage servicing asset and residential mortgage loans on our balance sheet.
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30,
 
 
2Q18
 
1Q18
 
4Q17
 
3Q17
 
2Q17
 
 
2018
 
2017
Net income - as reported
 
$
38,533

 
$
56,757

 
$
144,194

 
$
60,843

 
$
44,466

 
 
$
95,290

 
$
99,003

Non-core items, net of tax (1)
 
18,679

 
614

 
(96,814
)
 
1,942

 
3,292

 
 
19,293

 
1,934

Operating earnings
 
57,212

 
57,371

 
47,380

 
62,785

 
47,758

 
 
114,583

 
100,937

Operating (loss) earnings - Mortgage Banking Segment
 
(3,359
)
 
(295
)
 
(815
)
 
2,217

 
2,413

 
 
(3,654
)
 
4,092

Operating earnings, excluding Mortgage Banking Segment
 
60,571

 
57,666

 
48,195

 
60,568

 
45,345

 
 
118,237

 
96,845

Dividends on preferred shares
 
3,000

 
3,100

 
2,000

 
2,002

 
2,002

 
 
6,100

 
4,005

Operating earnings available to common stockholders, excluding Mortgage Banking Segment
 
$
57,571

 
$
54,566

 
$
46,195

 
$
58,566

 
$
43,343

 
 
$
112,137

 
$
92,840

Diluted earnings per common share - as reported (2) (3)
 
$
0.42

 
$
0.81

 
$
1.67

 
$
0.69

 
$
0.50

 
 
$
1.23

 
$
1.12

Diluted operating earnings per common share, excluding Mortgage Banking Segment
 
$
0.68

 
$
0.64

 
$
0.54

 
$
0.69

 
$
0.51

 
 
$
1.32

 
$
1.10


(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 starting on page 25. Non-core items for the second quarter of 2018 include approximately $14 million, net of tax, related to the discontinuation of our national mortgage origination business and approximately $5 million, net of tax, related to the pending merger with Fifth Third Bancorp ("Fifth Third").

(2) 
The $0.81 diluted earnings per common share in the first quarter of 2018 were positively impacted by a $15.3 million, or $0.18 per common share, return from preferred stockholders due to the redemption of our 8% Series A non-cumulative perpetual preferred stock. The $15.3 million represents the excess carrying amount over the redemption price of the Series A preferred stock.

(3) 
The $1.67 diluted earnings per common share in the fourth quarter of 2017 were positively impacted by a $104.2 million, or $1.23 per common share, tax benefit due to the enactment of the Tax Cuts and Jobs Act of 2017 (the "TCJ Act").


The following information was filed by Mb Financial Inc Md (MBFI) on Thursday, July 19, 2018 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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Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Definitive Merger Agreement
Definitive Merger Agreement (Details)
Deposits
Deposits (Details)
Deposits (Tables)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Additional Information (Details)
Derivative Financial Instruments - Financial Instruments Eligible For Offset In Consolidated Balance Sheet (Details)
Derivative Financial Instruments - Summary Of Derivative Financial Instruments (Details)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Assets Measured At Fair Value On Nonrecurring Basis (Details)
Fair Value Measurements - Assumptions Used In Measuring Fair Value Of Mortgage Servicing Rights (Details)
Fair Value Measurements - Estimated Fair Value Of Financial Instruments (Details)
Fair Value Measurements - Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Level 3 Financial Assets Measured At Fair Value (Details)
Fair Value Measurements - Unobservable Inputs Used In Fair Value Measurement (Details)
Goodwill And Intangibles
Goodwill And Intangibles (Tables)
Goodwill And Intangibles - Additional Information (Details)
Goodwill And Intangibles - Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangibles - Changes In Core Deposit And Client Relationship Intangibles (Details)
Goodwill And Intangibles - Estimated Future Amortization Expense (Details)
Investment Securities
Investment Securities (Tables)
Investment Securities - Amortized Cost And Fair Value Of Investment Securities (Details)
Investment Securities - Net Gains (Losses) Recognized And Amortized Cost And Fair Value By Contractual Maturity Of Investment Securities (Details)
Investment Securities - Unrealized Losses On Investment Securities And Fair Value Of Related Securities (Details)
Junior Subordinated Notes Issued To Capital Trusts
Junior Subordinated Notes Issued To Capital Trusts (Details)
Junior Subordinated Notes Issued To Capital Trusts (Tables)
Loans
Loans (Tables)
Loans - Additional Information (Details)
Loans - Allowance For Credit Losses (Details)
Loans - Carrying Amount Of Loans Acquired (Details)
Loans - Changes In The Accretable Yield (Details)
Loans - Contractual Aging Of Recorded Investment In Past Due Loans (Details)
Loans - Financing Receivable Modifications And Restructuring (Details)
Loans - Loans Individually Evaluated For Impairment By Class Of Loans (Details)
Loans - Loans That Have Been Restructured (Details)
Loans - Recorded Investment In Non-Accrual Loans And Loans Past Due (Details)
Loans - Risk Category And Recorded Investment Of Loans By Class (Details)
Loans - Schedule Of Composition Of Loans (Details)
Loans - Troubled Debt Restructuring Activity (Details)
Long-Term Borrowings
Long-Term Borrowings (Details)
Long-Term Borrowings (Tables)
New Authoritative Accounting Guidance
New Authoritative Accounting Guidance (Details)
New Authoritative Accounting Guidance (Policies)
Operating Segments
Operating Segments (Details)
Operating Segments (Tables)
Preferred Stock
Preferred Stock (Details)
Short-Term Borrowings
Short-Term Borrowings (Tables)
Short-Term Borrowings - Additional Information (Details)
Short-Term Borrowings - Schedule Of Short-Term Borrowings (Details)
Stock Incentive Plans
Stock Incentive Plans (Tables)
Stock Incentive Plans - Additional Information (Details)
Stock Incentive Plans - Assumptions Used For Options Granted (Details)
Stock Incentive Plans - Changes In Restricted Shares And Units (Details)
Stock Incentive Plans - Impact Of Share-Based Payment Plans (Details)
Stock Incentive Plans - Summary Of Impact Of Share-Based Payment Plans (Details)
Subsequent Events (Details)
Subsequent Events Subsequent Events

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

Ticker: MBFI
CIK: 1139812
Form Type: 10-Q Quarterly Report
Accession Number: 0001139812-18-000048
Submitted to the SEC: Thu Aug 09 2018 1:44:20 PM EST
Accepted by the SEC: Thu Aug 09 2018
Period: Saturday, June 30, 2018
Industry: National Commercial Banks

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