* Q3 EPS $0.08 in line with estimates
* Q3 net interest income down 9 pct to $145.3 mln
* Q3 loan loss provision $21.5 mln vs $6.8 mln yr ago
Oct 15 (Reuters) - People's United Financial Inc posted a third-quarter profit, which came in line with market view, helped by growth in its core loan portfolios and deposits, but said loan loss provisions tripled on higher net loan charge-offs.
The savings and loan holding company earned $26.8 million, or 8 cents a share, compared with $25.3 million, or 8 cents a share, a year earlier.
Analysts on average were looking for a profit of 8 cents a share, before items, according to Thomson Reuters I/B/E/S.
Net interest income at People's United, which was added to the S&P 500 Index last November, fell 9 percent to $145.3 million during the quarter.
Provision for loan losses was $21.5 million, up from $6.8 million last year. Net loan charge-offs jumped 63 percent to $16.0 million in the quarter, including $6.1 million related to one shared national credit.
Shares of the Bridgeport, Connecticut-based company closed at $15.87 Thursday on Nasdaaq.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Pradeep Kurup) Keywords: PEOPLESUNITED/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 net interest income down 9 pct to $145.3 mln
* Q3 loan loss provision $21.5 mln vs $6.8 mln yr ago
Oct 15 (Reuters) - People's United Financial Inc posted a third-quarter profit, which came in line with market view, helped by growth in its core loan portfolios and deposits, but said loan loss provisions tripled on higher net loan charge-offs.
The savings and loan holding company earned $26.8 million, or 8 cents a share, compared with $25.3 million, or 8 cents a share, a year earlier.
Analysts on average were looking for a profit of 8 cents a share, before items, according to Thomson Reuters I/B/E/S.
Net interest income at People's United, which was added to the S&P 500 Index last November, fell 9 percent to $145.3 million during the quarter.
Provision for loan losses was $21.5 million, up from $6.8 million last year. Net loan charge-offs jumped 63 percent to $16.0 million in the quarter, including $6.1 million related to one shared national credit.
Shares of the Bridgeport, Connecticut-based company closed at $15.87 Thursday on Nasdaaq.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Pradeep Kurup) Keywords: PEOPLESUNITED/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
