First US Bancshares Q2 profit rises on loan growth, lower deposit costs
First US Bancshares Q2 profit rises on loan growth, lower deposit costs
Overview
US regional bank's Q2 net income rose sharply yr/yr, driven by lower credit loss provisions
Net interest income and margin increased from Q1, supported by loan growth and lower deposit costs
Company repurchased 91,000 shares in Q2 and opened a new banking center in Alabama
Outlook
Company says geopolitical and economic environments remain uncertain
Result Drivers
LOAN GROWTH - Co said loan growth in construction and indirect consumer lending portfolios drove results
DEPOSIT COST MANAGEMENT - Margin improvement from Q1 attributed to managing deposit costs downward
SECURITIES GAINS - Non-interest income increased due to gains on sale of investment securities
Company press release: ID:nPn75Wx3a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.31 |
|
Q2 Net Interest Income |
| $9.50 mln |
|
Q2 Basic EPS |
| $0.31 |
|
Q2 Net Interest Margin |
| 3.56% |
|
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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.)
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