Company Reports $19.9 Billion in Total Loans, Expands Presence in Florida and Tennessee
What happened
The company reported total loans of $19.9 billion at the end of the third quarter, showing 5.1% year-over-year growth. Commercial and Industrial lending grew 11% year over year, and commercial loan production reached nearly $4 billion for the first nine months of the year. The company also reported developing $300 million in new loan relationships in Florida since the second quarter, and holds more than $750 million in total loans in Tennessee.
From fool.com
Why it matters
The third quarter net income was $86 million, excluding merger and restructuring charges. The total loan portfolio growth and the strong commercial loan production indicate active expansion in the lending market. The company also reported $370 million in Commercial Real Estate payoffs during the third quarter.
From fool.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- FloridaSpeculative
The new loan relationships in Florida might increase capital inflow into the state's financial sector.