Capital Bank Financial Q1 Profit Rises - Quick Facts

(RTTNews) - Capital Bank Financial Corp. (CBF), a holding company for Capital Bank, National Association, Thursday posted net income for the first quarter of $11.4 million, or $0.22 per share, compared to $5.8 million, or $0.10 per share, a year earlier.

Core net income for the latest first quarter of 2014 was $12.4 million, or $0.24 per share, up from $9.9 million, or $0.18 per share, for the first quarter of 2013.

On average, eight analysts polled by Thomson-Reuters estimated the company's earnings to be $0.24 for the quarter. Analysts' estimates typically exclude one-time items.

Net interest income declined to $62.5 million from $67.1 million a year ago, mainly due to decreased loan balances and yields partially offset by increased securities average balances and yields, a decline in high-cost legacy time deposits and the extinguishment of debt through the prepayment of $42.5 million of high coupon trust preferred securities during 2013.

Total non-interest income rose to $11.4 million from $10.9 million a year ago.