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
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
$14.30 mln
Q3 Net Interest Income
$39.80 mln
Q3 Net Interest Margin
3.66%
Press Release: ID:nBwbr3LJ9a
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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.)