Citizens Banking Corporation Reports Higher Third Quarter 1998 Earnings.
Business Wire › October 12, 1998
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Citizens Banking Corporation Reports Higher Third Quarter 1998 Earnings.
FLINT, Mich.--(BUSINESS WIRE)--Oct. 12, 1998--Citizens Banking Corporation (Nasdaq:CBCF) earned net income of $14,589,000 for the three months ended September 30, 1998, an increase of 18.5% over third quarter 1997 operating earnings. Diluted earnings per share in the third quarter were $0.50 in 1998, compared with operating earnings of $0.43 per share in 1997. Returns on average equity and average assets during the third quarter of 1998 improved to 13.46% and 1.30%, respectively, from 11.99% and 1.10%, respectively, in the third quarter of 1997.
Noninterest income before investment securities gains, increased to $14,689,000 during the third quarter 1998, an improvement of 18.3% over the same period in 1997. Net interest income wa...See the full content of this document
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