Calvin B Taylor Bankshares Q1 net income rises on loan growth, margin expansion
Calvin B Taylor Bankshares Q1 net income rises on loan growth, margin expansion
Overview
Community bank's Q1 net income rose 3% yr/yr, driven by loan growth and margin expansion
Net interest margin for Q1 expanded to 3.98% from 3.73% a year earlier
Company repurchased 25,892 shares and raised dividend 5.6% yr/yr in Q1
Outlook
Company did not provide specific guidance for current or future periods
Result Drivers
LOAN GROWTH - Co said organic loan growth was supported by diversification in commercial and residential real estate lending
NET INTEREST MARGIN EXPANSION - Co said higher yields on loans and investment securities drove net interest margin expansion
DEPOSIT GROWTH - Co said deposit growth was achieved through new customer acquisition and expansion of existing relationships, offsetting seasonal outflows
Company press release: ID:nACShvyRja
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Net Income |
| $3.80 mln |
|
Q1 Net Interest Margin |
| 3.98% |
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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.)