C&F Financial Q2 net income rises on loan growth
C&F Financial Q2 net income rises on loan growth
Overview
U.S. regional bank's Q2 net income rose 11% yr/yr on loan and mortgage growth
Adjusted net income for Q2 up 1.5% excluding one-time items
Company declared Q2 dividend of $0.48 per share and repurchased $312,000 in stock
Outlook
Provision for credit losses may increase if loan performance deteriorates
Result Drivers
LOAN GROWTH - Community banking segment loans grew, driven by commercial real estate and land acquisition lending
MORTGAGE ORIGINATIONS - Higher volume of mortgage loan originations contributed to increased gains on sales of loans and fee income
Company press release: ID:nGNX5JzDKN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $8.63 mln |
|
Q2 Basic EPS |
| $2.63 |
|
Q2 Dividend |
| $0.48 |
|
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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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