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AMBZ — American Business Bank News Story

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American Business Bank Q3 profit rises on higher interest income

Overview

American Business Bank Q3 net income rises 9% qtr/qtr to $14.3 mln

Net interest margin expands to 3.66% from 3.58% in prior quarter

Core deposits increase $169 mln, up 5% over prior quarter

Outlook

American Business Bank did not provide specific financial guidance for future quarters

Result Drivers

NET INTEREST INCOME - Growth in loans with higher interest rates and decreased deposit costs drove net interest income increase

CORE DEPOSIT GROWTH - Core deposits rose by $169 mln, mainly from existing customers, aiding financial performance

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Net Income$14.30 mln
Q3 Net Interest Income$39.80 mln
Q3 Net Interest Margin3.66%
Press Release: ID:nBwbr3LJ9a For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@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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