Overview
US regional bank's preliminary Q1 net income rose 26% yr/yr, EPS up 27%
Net interest income and non-interest income both increased from prior year quarter
Company repurchased $0.4 mln in shares under its repurchase plan during Q1
Outlook
Company did not provide specific guidance or outlook for future quarters or the full year
Result Drivers
HIGHER NET INTEREST MARGIN - Co said improvement in net interest margin was due to higher rates on earning assets and lower deposit and borrowing costs
NON-INTEREST INCOME GROWTH - Non-interest income rose 25% yr/yr and 21% sequentially
EFFICIENCY RATIO IMPROVEMENT - Co attributed improved efficiency ratio to higher net interest margin and increased non-interest income
Company press release: ID:nGNXbHmPM0
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.98
Q1 Net Income
$6.8 mln
Q1 Net Interest Income
$17.1 mln
Q1 Dividend
$0.21
Q1 Net Interest Margin
4.07%
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.)