Seeking Alpha

Christopher Menkin's  Instablog

Christopher Menkin
Send Message
Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 41 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on... More
My company:
Leasing News
  • CapitalSource Reports $11 Million Decrease 0 comments
    Jul 24, 2013 6:18 PM

    Capital Source reported a Second quarter reported net income of $29 million compared to a $40 million net income in 2012, same period.

    "Net Income was $30 million, a decline of $5 million from the prior quarter, due to increased provision for loan loss related primarily to loan growth and non-interest expenses returning to a more normalized level.

    • Loans and Leases increased $404 million or 6.8%, including $58 million of loans purchased from the Parent.

    • New funded loan and lease production was $710 million, excluding the Parent loan purchase, compared to $575 million in the prior quarter.

    • Total loans and leases were $6.4 billion at quarter end, an increase of 20% from one year ago.

    PacWest reported second quarter income of $4.3 million, a decrease of $9.2 million from net earnings for the first quarter of 2013 of $13.5 million; net income for second quarter of 2012 was $15.6 million.

    NYSE Tuesday Close

    11.97 Up 2.14 (21.77%)
    Prev Close: 9.83
    Open:11.94
    Bid:11.92 x 1200
    Ask:12.02 x 100
    1y Target Est: 9.73
    Day's Range: 11.59 - 12.09
    52wk Range: 6.22 - 12.09
    Volume: 30,319,637
    Avg Vol (3m):1,370,130

    CapitalSource Second Quarter Results Press Release
    http://www.leasingnews.org/PDF/CapitalSource_2Qtr_72013.pdf

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Christopher Menkin's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.