Overview
US regional bank's Q1 net income rose 25% yr/yr, driven by asset and loan growth
Diluted EPS for Q1 increased 24% yr/yr
Net interest income for Q1 grew 14% yr/yr on higher average balances and yields
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
LOAN GROWTH - Co said higher loan balances and improved yields drove increase in net interest income
FEE INCOME - Higher fees from commercial loans with interest rate hedges and increased wealth management revenue lifted non-interest income
CREDIT LOSS PROVISION - Increased provision for credit losses reflected loan growth and higher commercial construction commitments
Company press release: ID:nGNX5tf7j3
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$1.28
Q1 Net Income
$7.46 mln
Q1 Net Interest Income
$19.41 mln
Q1 Pretax Profit
$8.44 mln
Q1 Provision for Credit Losses
$875,000
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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.)