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Article: In Brief: Net Interest Income Dip at Nat Commerce.(National Commerce Financial Corp.)(Brief Article)
- Article from:
- American Banker
- Article date:
- April 19, 2004
- Author:
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National Commerce Financial Corp. said Friday that its first-quarter profits rose 41%, to $90.2 million, from a year earlier, when it took a $20 million charge to settle a lawsuit.
But the $23 billion-asset Memphis regional banking company's profits were flat from the fourth quarter, because a 7% increase in brokerage income, securities gains, and other fees could not fully offset a decline in net interest income. It attributed that decline to low interest rates and said it is waiting for rates to rise ...