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Mb Financial Inc Md (MBFI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Mb Financial Inc Md

CIK: 1139812 Ticker: MBFI


EXHIBIT 99.1
mbfilogoblacka10.jpg
4Q18


MB FINANCIAL, INC. REPORTS FOURTH QUARTER 2018 NET INCOME


CHICAGO, January 22, 2019 – MB Financial, Inc. (the "Company") (NASDAQ: MBFI), the holding company for MB Financial Bank, N.A., today announced fourth quarter 2018 net income of $75.9 million compared to $42.7 million last quarter and $144.2 million in the fourth quarter a year ago.  Diluted earnings per common share were $0.85 in the fourth quarter of 2018 compared to $0.47 last quarter and $1.67 in the fourth quarter a year ago.

Annual net income for 2018 was $213.9 million compared to $304.0 million for 2017. Diluted earnings per common share were $2.55 for 2018 compared to $3.49 for 2017.

Net income and earnings per common share for the fourth quarter of 2017 and full year 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"). Net income and earnings per common share for the fourth and third quarters of 2018 were also positively impacted by TCJ Act tax benefits of $8.2 million, or $0.10 per common share, and $2.2 million, or $0.03 per common share, respectively.

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 in April 2018, 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 certain residential mortgage loans on our balance sheet and continue to originate residential mortgage loans in the Chicagoland area.
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31,
 
 
4Q18
 
3Q18
 
2Q18
 
1Q18
 
4Q17
 
 
2018
 
2017
Net income - as reported
 
$
75,911

 
$
42,714

 
$
38,533

 
$
56,757

 
$
144,194

 
 
$
213,915

 
$
304,040

Non-core items, net of tax (1)
 
(3,696
)
 
12,889

 
18,679

 
614

 
(96,814
)
 
 
28,486

 
(92,938
)
Operating earnings
 
72,215

 
55,603

 
57,212

 
57,371

 
47,380

 
 
242,401

 
211,102

Operating earnings (loss) - Mortgage Banking Segment
 
3,141

 
1,067

 
(3,359
)
 
(295
)
 
(815
)
 
 
554

 
5,494

Operating earnings, excluding Mortgage Banking Segment
 
69,074

 
54,536

 
60,571

 
57,666

 
48,195

 
 
241,847

 
205,608

Dividends on preferred shares
 
3,000

 
3,000

 
3,000

 
3,100

 
2,000

 
 
12,100

 
8,007

Operating earnings available to common stockholders, excluding Mortgage Banking Segment
 
$
66,074

 
$
51,536

 
$
57,571

 
$
54,566

 
$
46,195

 
 
$
229,747

 
$
197,601

Diluted earnings per common share - as reported (2)
 
$
0.85

 
$
0.47

 
$
0.42

 
$
0.81

 
$
1.67

 
 
$
2.55

 
$
3.49

Diluted operating earnings per common share, excluding Mortgage Banking Segment
 
$
0.77

 
$
0.60

 
$
0.68

 
$
0.64

 
$
0.54

 
 
$
2.70

 
$
2.33


(1) 
Non-core items represent the difference between non-core non-interest income and non-core non-interest expense net of tax as well as other non-core tax items. See "Non-GAAP Financial Information" section for details on non-core items starting on page 25.

(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.


The following information was filed by Mb Financial Inc Md (MBFI) on Tuesday, January 22, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Mb Financial Inc Md's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual 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
Business Combinations
Business Combinations (Tables)
Business Combinations - American Chartered Merger Acquired Loans (Details)
Business Combinations - American Chartered Merger Assets Acquired And Liabilities Assumed (Details)
Business Combinations - American Chartered Merger Expenses Included In Net Income (Details)
Business Combinations - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Financial Instruments Outstanding Representing Off-Balance Sheet Credit Risk (Details)
Commitments And Contingencies - Narrative (Details)
Condensed Parent Company Financial Information
Condensed Parent Company Financial Information (Tables)
Condensed Parent Company Financial Information - Balance Sheets (Details)
Condensed Parent Company Financial Information - Statements Of Cash Flows (Details)
Condensed Parent Company Financial Information - Statements Of Operations (Details)
Definitive Merger Agreement
Definitive Merger Agreement (Details)
Deposits
Deposits (Tables)
Deposits - Composition Of Deposits (Details)
Deposits - Scheduled Maturities Of Certificates Of Deposit (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Financial Instruments That Are Eligible For Offset On The Balance Sheet (Details)
Derivative Financial Instruments - Instruments Eligible For Offset By Counterparty (Details)
Derivative Financial Instruments - Schedule Of Derivative Financial Instruments (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information About Financial Assets Measured At Fair Value (Details)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements - Estimated Fair Values Of Financial Instruments (Details)
Fair Value Measurements - Key Economic Assumptions Used In Measuring Fair Value (Details)
Fair Value Measurements - Unobservable Inputs Used In Fair Value Of Assets On A Nonrecurring Basis (Details)
Fair Value Measurements - Unobservable Inputs Used In The Fair Value Measurement (Details)
Goodwill And Intangibles
Goodwill And Intangibles (Tables)
Goodwill And Intangibles - Carrying Amount Of Core Deposit And Client Relationship Intangibles (Details)
Goodwill And Intangibles - Carrying Amount Of Goodwill (Details)
Goodwill And Intangibles - Estimated Amortization Expense (Details)
Goodwill And Intangibles - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Change In Unrecognized Tax Benefits (Details)
Income Taxes - Deferred Tax Assets (Details)
Income Taxes - Income Tax Attributable To Continuing Operations (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Income Tax Rate To Effective Tax Rate (Details)
Investment Securities
Investment Securities (Tables)
Investment Securities - Amortized Costs And Fair Values Of Investment Securities (Details)
Investment Securities - Mortgage-Back Securities Maturity Summary (Details)
Investment Securities - Net Losses Recognized On Investment Securities (Details)
Investment Securities - Unrealized Losses On Investment 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)
Lease Commitments And Rental Expense
Lease Commitments And Rental Expense (Details)
Lease Commitments And Rental Expense (Tables)
Lease Investments
Lease Investments (Tables)
Lease Investments - Income From Lease Financing (Details)
Lease Investments - Lease Investments By Categories (Details)
Lease Investments - Minimum Lease Payments Receivable (Details)
Lease Investments - Residual Values For Leases (Details)
Loans
Loans (Tables)
Loans - Accretable Yield For Loans Acquired And Accounted For Under Asc Topic 310-30 (Details)
Loans - Activity In Allowance For Loans And Lease Losses (Details)
Loans - Aging Of Recorded Investment In Past Due Loans By Class (Details)
Loans - Allowance For Credit Losses (Details)
Loans - Loans Acquired Through Business Combination (Details)
Loans - Loans Individually Evaluated For Impairment (Details)
Loans - Loans Restructured (Details)
Loans - Narrative (Details)
Loans - Non-Accrual Loans And Loans Past Due (Details)
Loans - Recorded Investment In Loan Classes Based On Payment Activity (Details)
Loans - Risk Category Of Loans By Class (Details)
Loans - Schedule Of Loans (Details)
Loans - Type Of Modification For Loans That Have Been Restructured (Details)
Long-Term Borrowings
Long-Term Borrowings (Tables)
Long-Term Borrowings - Narrative (Details)
Long-Term Borrowings - Schedule Of Long-Term Borrowings (Details)
Long-Term Borrowings - Schedule Of Principle Payments On Long-Term Borrowings (Details)
Operating Segments
Operating Segments (Details)
Operating Segments (Tables)
Preferred Stock
Preferred Stock (Details)
Premises And Equipment
Premises And Equipment (Details)
Premises And Equipment (Tables)
Regulatory Matters
Regulatory Matters (Details)
Regulatory Matters (Tables)
Restrictions On Cash And Due From Banks
Restrictions On Cash And Due From Banks (Details)
Short-Term Borrowings
Short-Term Borrowings (Tables)
Short-Term Borrowings - Narrative (Details)
Short-Term Borrowings - Schedule Of Short-Term Borrowings (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Reconciliation Of Number Of Shares Used In Calculation Of Earnings Per Common Share (Details)
Stock Incentive Plans
Stock Incentive Plans (Tables)
Stock Incentive Plans - Narrative (Details)
Stock Incentive Plans - Options Granted (Details)
Stock Incentive Plans - Restricted Shares (Details)
Stock Incentive Plans - Stock Options Outstanding (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: MBFI
CIK: 1139812
Form Type: 10-K Annual Report
Accession Number: 0001139812-19-000006
Submitted to the SEC: Fri Mar 01 2019 4:01:55 AM EST
Accepted by the SEC: Fri Mar 01 2019
Period: Monday, December 31, 2018
Industry: National Commercial Banks

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