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 |
|
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(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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