Overview
Exchange Bank Q3 net income rises to $8.6 mln, up from $4.9 mln last year
Net interest income increased by $3.3 mln, driven by loan interest and reduced borrowings
Non-interest income up 25%, aided by $1.4 mln gain on sale of bank premises
Outlook
Exchange Bank did not provide specific future guidance in the press release
Result Drivers
NET INTEREST INCOME - Increase driven by higher loan volumes and reduced borrowing costs
NON-INTEREST INCOME - Boosted by $1.4 mln gain on sale of unused bank premises
ASSET QUALITY - Strong asset quality with reduced non-accrual loans
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
$8.55 mln
Q3 Net Interest Income
$23.28 mln
Q3 Basic EPS
$4.99
Q3 Pretax Profit
$11.74 mln
Press Release: ID:nBw9jr1Cwa
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.)