Capital Bank Financial Reports Lower Profit In Q3 On Absence Of Tax Benefit

(RTTNews) - Capital Bank Financial Corp. (CBF) reported that its third-quarter net income attributable to company decreased to $11.44 million or $0.22 per share, from $35.08 million or $0.75 per share, last year. Core net income for the third quarter of 2013 was $12.7 million, or $0.24 per share.

The company recorded an income tax expense of $8.98 million for the quarter, compared to a benefit of $32.39 million, prior year.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $65.39 million, compared to $60.33 million prior year. Total non-interest income decreased to $15.28 million, from $20.27 million, a year ago. Analysts expected revenue of $79.69 million for the quarter.