Hawthorn Bancshares prelim Q2 net income rises 20%
Hawthorn Bancshares prelim Q2 net income rises 20%
Overview
US regional bank's preliminary Q2 net income rose 20% yr/yr, EPS up 20%
Net interest margin for Q2 improved to 4.16% from 3.89% a year ago
Company raised share repurchase authorization to $10 mln, $8 mln remains available
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
HIGHER NET INTEREST MARGIN - Co said improvement was driven by higher rates on earning assets and lower deposit costs
NON-INTEREST INCOME GAIN - Q2 non-interest income rose due to a gain on sale of a bank administrative office
EFFICIENCY RATIO IMPROVEMENT - Improved efficiency ratio mainly due to higher net interest margin and increased non-interest income
Company press release: ID:nGNXbSLLpF
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $1.06 |
|
Q2 Net Income |
| $7.3 mln |
|
Q2 Net Interest Income |
| $17.3 mln |
|
Q2 Dividend |
| $0.21 |
|
Q2 Net Interest Margin |
| 4.16% |
|
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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.)