Overview
US community bank's Q1 net income rose 47% yr/yr to record $2.5 mln
Earnings per share for Q1 increased 46% yr/yr to $0.82
Net interest income grew 33% yr/yr, with net interest margin expanding to 3.80%
Outlook
Company did not provide specific guidance or outlook for future quarters or the full year
Result Drivers
LOAN GROWTH - Q1 results driven by 4% increase in total loans, led by commercial real estate and construction lending
NET INTEREST MARGIN - Net interest margin expanded to 3.80%, supporting higher net interest income
GAINS ON SBA LOANS - Non-interest income rose due to gains on sale of SBA loans
Company press release: ID:nPnS2g16a
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.82
Q1 Net Income
$2.50 mln
Q1 Net Interest Income
$7.30 mln
Q1 Net Interest Margin
3.80%
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.)