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Boston Private Q3 Profit Tops Estimates

Oct 26, 2011 | Reprints | Unlock Link | Print

BostonPrivateFinancialHoldings_Logo Boston Private Financial Holdings Inc. posted better-than-expected third-quarter profit, helped by improved credit quality.

The bank posted a net income attributable to common stockholders of $11.4 million, or 14 cents per share, compared with a loss of $7.1 million, or 10 cents per share, a year ago.

Analysts expected the company to earn 10 cents per share, according to Thomson Reuters I/B/E/S.

Net interest income fell 3 percent to $45.1 million, compared with last year.

Boston Private’s operating expenses fell 9 percent to $55.4 million, while its loan loss provision fell 86 percent to $4.5 million.

Shares of the company closed at $6.85 on Tuesday on Nasdaq.

Banking & Lending