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《巴克莱-美股-银行业-2017年二季度美国中型银行评论-20170817-barclays-u.s. mid cap banks 2q17 10-q review》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。
1、EquityResearch17August2017U.S.Mid-CapBanksINDUSTRYUPDATE2Q1710-QReviewU.S.Mid-CapBanksNEUTRALWiththelastofourcoveredbanksrecentlyfilingits2Q1710-Q,wearepleasedtoUnchangedprovideourcomprehensivefindingsfromthefilings.Ourcoverage’sassetsensitivitylevelswererelativelystablelinkedquarter(pleases
2、eeFigure1belowformoredetails).U.S.Mid-CapBanksAutoloanexposure:OurbankswiththemostsignificantautolendingexposureMatthewJ.Keating,CFAinclude:TCF(~18%oftotalloans),FHB(8%),CBSH(7%),FIBK(7%),andBOH(5%).+12125268572TCFandCBSH(thetwolargestautolendersbydollars)maintainedaverageautoFICOmatthew.kea
3、ting@barclays.comBCI,USscoresof716(732at1Q17)and747(743),respectively.Thesescorespositionthemintheprimelendingterritory(661–780)andshouldinsulatethemfromthemeaningfulJasonM.Goldberg,CFAcreditqualitydeteriorationthatisanticipatedinthesubprimeautolendingspace.+12125268580jason.goldberg@barclay
4、s.comCREconcentrations:Ourcoverage’saverageCREconcentrationdecreasedto240.5%BCI,USat2Q17from241.6%at1Q17.OurbankswiththegreatestCREconcentrationsare:JamesKurekDCOM(767%ofrisk-basedcapital),NYCB(720%),SBNY(559%),andISBC(372%).+12125267052Leaseaccountingchanges:InFebruary2016,theFASBissuedASU2
5、016-02,"Leases",james.r.kurek@barclays.cominordertoincreasetransparencyandcomparabilitybyrecognizingleaseassetsandBCI,USleaseliabilitiesonthebalancesheet.ThisASUiseffectiveonJanuary1,2019,withearlyadoptionpermitted.SNVexpectstorecognizeleaseliabilitiesandcorrespondingright-of-useassets(atthe
6、irpresentvalue)relatedtosubstantiallyallofits$282mnoffutureminimumleasecommitmentsasdisclosedinits201610-K.CBSHisthelesseein~200leaseagreementssubjecttothisASU.UMPQexpectsasignificantnewleaseassetandrelatedleaseliabilityonitsbalancesheet.AssociatedBanc-Corp(ASB):ASBrecentlydisclosedthatfromJ
7、uly21,2017throughAugust7,2017,ithadrepurchased~1.6mnsharesofcommonstockatanaveragepriceof$23.59pershare.ASBdidnotrepurchaseanysharesin2Q17.DimeCommunityBancshares,Inc.(DCOM):OnJuly24,2017,DCOMdecidedtosell$5.3mnofTRUPCDOs.ThesalewascompletedinAugus
