TriState: 4Q Earnings Snapshot
PITTSBURGH (AP) _ TriState Capital Holdings Inc. (TSC) on Wednesday reported fourth-quarter profit of $15.1 million.
The Pittsburgh-based bank said it had earnings of 50 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The holding company for TriState Capital Bank posted revenue of $69.7 million in the period. Its revenue net of interest expense was $41.1 million, missing Street forecasts. Four analysts surveyed by Zacks expected $43.5 million.
For the year, the company reported profit of $54.4 million, or $1.81 per share. Revenue was reported as $161.3 million.
TriState shares have climbed roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.19, a drop of 13 percent in the last 12 months.