JP Morgan Releases MBFI 2Q11 First Look

JP Morgan has issued a first look at MB Financial's MBFI 2Q11. According to the report, "MBFI reported 2Q11 results of ($0.18). Adjusting for largely offsetting one-time income and expense items, core EPS of ($0.16) was a narrower loss than our ($0.28) estimate and consensus of ($0.35). Compared to our projection, second quarter EPS coming in above forecast was tied to provision expense coming in nearly $14 million below expectations." MBFI has a Neutral Rating and closed at $20.23 a share yesterday.