Oshkosh, Metro Bank Q4 income up; Mid Penn Bank's down
Oshkosh Corp., the heavy truck manufacturer with a midstate presence, and Metro Bancorp Inc. both reported income increases for the quarter that ended Dec. 31, while Mid Penn Bancorp Inc. reported an income drop from last year.
Oshkosh, the Wisconsin-based parent of JLG Industries Inc., had net income of $46.5 million, or an 18 percent increase, from the same quarter a year ago, according to the company.
It posted earnings per diluted share of 51 cents, beating analyst estimates of 32 cents, according to Yahoo Finance.
The company's access equipment segment, which includes JLG and its facility in Cumberland County, saw its sales increase 15 percent on higher volumes and price increases with operating income tripling to $48.9 million, according to Oshkosh.
Metro Bancorp, the Swatara Township, Dauphin County-based parent of Metro Bank, reported net income of $3.5 million, a 39 percent increase from a year ago. Earnings per diluted share were 24 cents, while analysts had estimated 21 cents, according to Yahoo Finance.
Metro's year-end net income was $10.9 million, up from just $300,000 a year ago, a 3,670 percent increase, according to the company. Year-end income per share was 77 cents.
The bank reported an 8 percent increase in deposits and a 6 percent increase in loans for the fourth quarter.
Mid Penn Bancorp, the Millersburg, Dauphin County-based parent of Mid Penn Bank, reported fourth quarter net income available to shareholders of slightly more than $1 million, or a 13.2 percent drop from a year ago.
Earnings per diluted share were 30 cents, according to the bank. Analyst estimates were not available. Loans were up 0.6 percent, while deposits dipped 1.4 percent in the quarter.
Year-end income available to shareholders was $4.4 million, a more than 10 percent increase from 2011, according to the bank. Year-end earnings per share were $1.27, or a 9.5 percent increase.