First Capital Q2 profit rises on higher interest income
First Capital Q2 profit rises on higher interest income
Overview
U.S. community bank's Q2 net income and EPS rose yr/yr
Net interest income after provision for credit losses increased from prior year
Noninterest income rose, helped by gains on equity securities and higher service charges
Outlook
Company did not provide specific guidance or outlook for future periods in the press release
Result Drivers
HIGHER INTEREST INCOME - Co said increased average yield and higher balances of interest-earning assets drove interest income growth
NONINTEREST INCOME GAINS - Noninterest income rose, mainly due to gains on equity securities and higher service charges on deposit accounts
HIGHER OPERATING COSTS - Co reported increased noninterest expenses, driven by higher compensation and benefits, advertising, and general inflationary pressures
Company press release: ID:nGNXfCNTv
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $4.77 mln |
|
Q2 Net Interest Income |
| $12.09 mln |
|
Q2 Net Interest Margin |
| 3.91% |
|
Q2 Provision For Credit Losses |
| $425,000 |
|
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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.)