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Alpine Banks Q2 net income rises as loan balances grow

Alpine Banks Q2 net income rises as loan balances grow


Overview

  • US regional bank's Q2 net income rose 13% yr/yr, driven by higher loan balances

  • Net interest margin improved to 3.79% from 3.50% a year earlier

  • Provision for credit losses rose to $4 mln from $1.6 mln a year ago


Outlook

  • Company did not provide specific guidance or outlook for future quarters or the full year


Result Drivers

  • LOAN GROWTH - Higher loan balances, particularly in commercial real estate, commercial and industrial, residential, and consumer loans, drove increased net interest income

  • NET INTEREST MARGIN - Repricing of loans and securities originated in 2020-2022 contributed to higher net interest margin

  • CREDIT LOSS PROVISION - Provision for credit losses rose mainly due to loan growth and adjustments to the allowance for credit losses


Company press release: ID:nGNX8SLQDP


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Net Income

$19.90 mln

Q2 Net Interest Margin

3.79%

Q2 Provision For Loan Losses

-$4 mln


Reuters Recommended Reads

  • July 29 - BankFirst Q2 net income rises on higher loan growth

  • July 29 - Stock Yards Bancorp Q2 net income rises on loan, margin growth

  • July 28 - Skyline Bankshares Q2 net income rises on loan growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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