BPFH reported fourth quarter diluted earnings per share of $0.15 compared to $0.19 in the third quarter of 2012.
For the full year of 2012, BPFH reported GAAP Net Income Attributable to the Company of $53.3 million, compared to $39.1million for the full year of 2011. BPFH reported diluted earnings per share of $0.61 compared to $0.46 for the full year of 2011.
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Earnings increase 36% year-over-year: Full year 2012 GAAP Net Income increased to $53.3 million from $39.1million in 2011. Full year diluted 2012 EPS increased to $0.61 from $0.46 in 2011.
Steady Net Interest Income: Net Interest Income increased 2% to $183.3 million for the full year of 2012. Full year NIM of 3.22% decreased 3 basis points year-over-year.
Core Fees and Income increase for the fourth straight quarter: Fourth quarter Core Fees and Income increased 13% year-over-year and 5% on a linked quarter basis. AUM increased 2% to $20.4 billion in the quarter, and 13% year-over-year. Fourth quarter AUM net inflows were $298 million, up from $223 million linked quarter, and up from AUM net outflows of ($142) million in the fourth quarter of 2011.
Provision decreases: Provision for Loan Losses was a credit of ($5.0) million in the quarter, compared to a provision credit of ($4.0) million in the third quarter of 2012.
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By GlobalDataCapital builds: Tangible Common Equity/Tangible Assets ratio increased by 30 basis points to 7.7% on a year-overyear
basis, and was flat on a linked quarter basis.
Dividend increase and share repurchase program announced: The Board of Directors approved a cash dividend of $0.05 per share, up from $0.01 per share last quarter, and a share repurchase program of up to 5% of the Company’s outstanding shares as of January 16, 2013.
"The year-over-year increases we saw in loan, deposit, and AUM balances confirm that the power of our Private Banking and
Wealth Management model is taking hold," said Clayton G. Deutsch, CEO and President. "We continue to be pleased with the
ongoing improvement in our quality metrics as evidenced by the 24% decline in criticized loans on a year-over-year basis, and
the continued strengthening of our capital base. In 2013, we remain committed to growing our fee-based revenues, defending
our Net Interest Margin and achieving our 11% ROE target."
