March 30, 2017 9:34 PM ET

Banks

Company Overview of MUFG Americas Holdings Corporation

Company Overview

MUFG Americas Holdings Corporation operates as the bank holding company for MUFG Union Bank, N.A. that provides banking and financial services to consumers, small businesses, middle-market companies, and corporations. The company’s Regional Bank segment offers mortgages, home equity lines of credit, consumer and commercial loans, deposit accounts, financial planning, and investments; and accounts receivable, inventory, and trade financing; and insurance. The company’s U.S. Wholesale Banking segment offers commercial loans, lines of credit, and project financing; and treasury management and capital markets solutions, foreign exchange services, and various interest rate and commodity risk mana...

1251 Avenue of the Americas

New York, NY 10020

United States

Founded in 1864

12,400 Employees

Phone:

212-782-5911

Key Executives for MUFG Americas Holdings Corporation

Executive Chairman
Age: 60
Chief Financial Officer
Age: 49
Chief Information & Operations Officer and Policy Making Officer
Age: 58
Chief Executive Officer of MUFG Union Bank NA and President of MUFG Union Bank NA
Age: 60
President of Retail Banking of Northern California
Compensation as of Fiscal Year 2016.

MUFG Americas Holdings Corporation Key Developments

MUFG Americas Holdings Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Net Loans Charged-Offs for the Fourth Quarter of 2016

MUFG Americas Holdings Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net interest income of $802 million compared to $730 million a year ago. Total revenue was $1,418 million compared to $1,212 million a year ago. Pre-tax, pre-provision income was $462 million compared to $249 million a year ago. Income before income taxes and including non-controlling interests was $503 million compared to $57 million a year ago. Net income attributable to the company was $334 million compared to $84 million a year ago. Return on average assets was 0.89% compared to 0.22% a year ago. Return on average equity was 7.69% compared to 2.03% a year ago. Total revenue, as adjusted was $1,151 million compared to $1,063 million a year ago. For the full year 2016, net income was $990 million, compared with net income of $644 million in 2015. The increase in net income was primarily due to growth in total revenue (net interest income plus noninterest income). Total revenue for the full year 2016 was $5.3 billion, up $536 million, or 11%, compared with 2015. Net interest income increased $161 million, or 6%, due to expansion of the net interest margin, partially offset by a decrease in earning assets. Pre-tax, pre-provision income was $1,496 million compared to $995 million a year ago. Income before income taxes and including non-controlling interests was $1,341 million compared to $768 million a year ago. Return on average assets was 0.66% compared to 0.42% a year ago. Return on average equity was 5.82% compared to 4.00% a year ago. Total revenue, as adjusted was $4,604 million compared to $4,217 million a year ago. For the fourth quarter of 2016, the company reported net loans charged-off of $19 million compared to negative net loans charged-off of $6 million a year ago.

Mitsubishi UFJ Financial Group, Inc. Appoints Johannes H. Worsoe as Chief Financial Officer of MUFG Americas Holdings Corporation and MUFG Union Bank, N.A

Mitsubishi UFJ Financial Group Inc. announced the appointment of Johannes H. “Johs” Worsoe as Chief Financial Officer of MUFG Americas Holdings Corporation and its banking subsidiary MUFG Union Bank, N.A., effective immediately. Mr. Worsoe, 49, joined the company in 2001 and most recently served as Head of Investment Banking & Markets (IB&M). He will continue to be based in New York reporting to U.S. CEO Steve Cummings. Mr. Worsoe succeeds former MUFG Americas Chief Financial Officer John F. Woods, who is leaving the company. Prior to his most recent role as head of IB&M, Mr. Worsoe was Chief Administrative Officer for the Americas for The Bank of Tokyo-Mitsubishi UFJ. Ltd.

MUFG Americas Holdings Corporation Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2016; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2016

MUFG Americas Holdings Corporation announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. The company reported net income for the quarter of $260 million, compared with $334 million for the prior quarter and $188 million for the year-ago quarter. For the third quarter of 2016, total revenue (net interest income plus noninterest income) was $1.3 billion, up $24 million from the second quarter of 2016. Net interest income for the third quarter of 2016 was $773 million, up $19 million compared with the second quarter of 2016 due to an increase in the net interest margin. Return on average assets was 0.70% compared to 0.50% a year ago. Return on average muah stockholders' equity was 6.03% compared to 4.66% a year ago. Return on average muah tangible common equity was 7.60% compared to 6.10% a year ago. Total revenue as adjusted was $1,192 million compared to $1,047 million a year ago. For the nine months net income attributable to the company was $656 million, compared to $560 million a year ago. Net interest income was $2,251 million compared to $2,162 million a year ago. Return on average assets was 0.58% compared to 0.49% a year ago. Return on average muah stockholders' equity was 5.15% compared to 4.67% a year ago. Return on average muah tangible common equity was 6.54% compared to 6.14% a year ago. Total revenue was $3,860 million compared to $3,530 million a year ago. Total revenue as adjusted was $3,453 million compared to $3,158 million a year ago. The company announced net loans charge-offs of $124 million for the third quarter of 2016, compared with $11 million for the third quarter 2015.

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