CIT Reports First Quarter 2013 Net Income of $163 Million ($0.81 Per Diluted

CIT Reports First Quarter 2013 Net Income of 3 Million (First Defiance Financial Corp. Announces 2013 First Quarter Earnings
The first quarter results include expense for provision for loan losses of $ 425,000, compared with $ 3.5 million for the same period in 2012 and $ 2.6 million in the fourth quarter of 2012. Non-performing loans totaled $ 35.3 million at March 31, 2013, a …
Read more on Business Wire (press release)


.81 Per Diluted

The allowance for loan losses, which relates entirely to the commercial portfolio, was $ 386 million at March 31, 2013, or 1.74% of total finance receivables, compared to $ 420 million (2.05%) at March 31, 2012 and $ 379 million (1.82%) at December 31, 2012.
Read more on Business Wire (press release)

National Penn christens new headquarters in Allentown
Despite the loss, which it attributed largely to the early repayment of a $ 400 million loan from the Federal Home Loan Bank, the bank announced a 10 cents-per-share second-quarter dividend. Earlier in the day, Fainor told shareholders at the company's …
Read more on Allentown Morning Call

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