Fidelity D&D Bancorp Q3 net income rises on loan growth
Fidelity D&D Bancorp Q3 net income rises on loan growth
Overview
US regional bank's Q3 net income rose 21% yr/yr, driven by higher net interest income
Adjusted EPS for Q3 increased to $1.53 from $1.27 a year earlier
Company attributed results to loan growth, improved yields, and lower funding costs
Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in the press release
Result Drivers
LOAN GROWTH AND YIELDS - Co said higher average loan balances and improved loan yields, along with lower funding costs, drove net interest income
NON-INTEREST INCOME - Co said higher wealth management revenue, gains on property sales, and increased commercial loan fees contributed to non-interest income growth
HIGHER OPERATING COSTS - Co said increased staffing, technology expenses, and one-time donation raised non-interest expenses
Company press release: ID:nGNXbXZrH0
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| $1.53 |
|
Q3 Net Income |
| $8.92 mln |
|
Q3 Net Interest Income |
| $21.81 mln |
|
Q3 Pretax Profit |
| $10.77 mln |
|
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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.)