NewAlliance's excess capital is overshadowed by weak operating performance.
Management seems to have been overly aggressive in recent years in its quest for higher-yielding loans.The shift to commercial loans on the asset side of the balance sheet has not been accompanied by a comparable increase in commercial deposits.Webster's move into the Boston market will subject the
With its balance sheet woes behind it, State Street can focus on growing its core businesses.
Valley National's customers are concentrated in the New York metropolitan area. Troubles on Wall Street are likely to weaken the bank's customers.Intense competition in Valley National's market could make it hard to acquire or hold onto loan and deposit customers.Valley National's extreme
Connecticut-based NewAlliance Bancshares NAL posted $12.6 million in earnings for the third quarter. The 25% increase from second-quarter income was mostly due to a substantial drop in premiums paid to the FDIC, which charged insured banks a special assessment fee during the second quarter.
Despite its rapid growth, Boston Private has been unable to create any economies of scale that, in turn, could have led to positive operating leverage. Operating expenses have consistently kept pace with revenue growth.The firm's growth-through-acquisition model has not translated into robust
Fulton Financial FULT reported net income of $18.3 million, or $0.10 per share, for the third quarter of 2009, twice the profits reported by the bank in the second quarter. Nonperforming assets rose to 1.82% of the total from 1.73% in the previous quarter--a manageable rate of deterioration, in our
M&T Bank MTB reported net income of $128 million, or $0.97 per diluted share, for the third quarter of 2009, moderately ahead of our projections. However, the results are consistent with our positive long-term view of the bank, and we are leaving our fair value estimate unchanged. As we expected,