Q3 core operating net income of $7.7M or $0.01 per share vs. $14.4M and $0.13 in Q2.
Net interest income of $64.4M vs. $62.4M, with growth in earning assets of 5% offset by NIM slipping seven basis points to 2.91%.
Core noninterest income of $95.6M vs. $92.5M, with loan fees and charges up 22% thanks to a 20% boost in loan originations.
Core noninterest expense of $140.8M vs. $128.5M, thanks to a big jump in the fair value of DOJ liability, litigation reserves, and the establishment of a reserve for unfunded loan commitments.
CEO DiNello: "We took significant action during the quarter to reduce risk. First, we settled with the CFPB for claims arising out of loss mitigation practices and default servicing operations dating back to 2011. We also recognized additional expense related to certain government insured loans. Adjusting for these items, we would have achieved a modest profit in a difficult mortgage market."
Royal Dutch Shell (RDS.A, RDS.B) says it found a gas field under a layer of salt in deep water off the coast of Gabon, in a discovery which could help confirm hopes that parts of west Africa's geology are similar to Brazil's.
The Leopard-1 well encountered a substantial gas column, with ~200 meters net gas pay in a pre-salt reservoir, and Shell now plans an appraisal program to further determine resource volumes.
Shell is the operator of the well with a 75% interest, while Cnooc (NYSE:CEO) owns the remaining 25%.
Q3 GAAP earnings of $120.3M or $0.27 per share vs. $114.2M and $0.26 one year ago.
Multi-family loans held for investment of $22.9B up an annualized 13.9% through the year's first nine months.
Net interest income of $289M vs. $294M one year ago, with NIM of 2.69% down 35 basis points.
Noninterest income of $41.3M vs. $50.7M one year ago, thanks to an FDIC indemnification expense this quarter vs. indemnification income last year. Mortgage banking income of $16.6M up slightly from a year ago.
Noninterest expense of $145.2M vs. $150.3M a year ago.