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Fidelity D&D Bancorp Q1 net income rises 25% on loan growth

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

MetricBeat/MissActualConsensus 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
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@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.)

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