Overview
Louisiana-based bank's Q2 net income rose yr/yr, driven by higher net interest income
Company's Q2 earnings per share increased yr/yr
Company reported zero dependency on wholesale funding
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
NET INTEREST INCOME - Increase in net interest income by $777,000, or 16.9%, driven by higher interest income and lower interest expense
NON-INTEREST INCOME - Non-interest income rose by $150,000, or 30.7%, mainly due to gains on loan sales and increased service charges
NON-INTEREST EXPENSE - Reduction in non-interest expense by $43,000, driven by lower compensation and benefits, and audit fees
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
$1.68 mln
Q2 Net Interest Income
$5.38 mln
Q2 Pretax Profit
$2.11 mln
Press Release: ID:nGNX9Vp1MF
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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.)