KS Bancorp Q2 net income rises on loan growth
KS Bancorp Q2 net income rises on loan growth
Overview
US community bank's Q2 net income rose 27% yr/yr on higher net interest income
Q2 EPS climbed to $2.57 from $2.02 a year earlier
Company raised quarterly dividend by 13.3% to $0.34 per share
Outlook
Company says future performance will be influenced by interest rates, Fed policy, and market volatility
Company notes economic outlook remains uncertain
Company remains committed to disciplined growth and prudent risk management
Result Drivers
NET INTEREST INCOME - Q2 net interest income rose 19.1% yr/yr, driven by loan growth and balance sheet management
OPERATING EXPENSES - Higher expenses from investment in personnel, technology, and infrastructure offset some income gains
LOAN AND DEPOSIT GROWTH - Net loans grew 7.5% and deposits rose 4.6% since year-end, supporting asset and income growth
Company press release: ID:nACSFpqjya
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $2.57 |
|
Q2 Net Income |
| $2.90 mln |
|
Q2 Net Interest Income |
| $8.20 mln |
|
Q2 Credit Loss Provision |
| -$285,000 |
|
Reuters Recommended Reads
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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.)