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Christopher Menkin
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Christopher "Kit" Menkin is of editor (, an internet trade publication for the finance/leasing industry. He has 46 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on several company... More
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  • 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
    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

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

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