Overview
US community bank's Q1 EPS rose 6.7% yr/yr to $0.83
Q1 net interest income grew 14.5% yr/yr, driven by higher rates and lower funding costs
Company declared quarterly dividend of $0.21 per share, up from $0.20 prior quarter
Outlook
Company did not provide specific guidance or outlook for future quarters in its press release
Result Drivers
NET INTEREST INCOME - Growth driven by higher yields on loans and investments and lower funding costs
DEPOSIT COSTS - Deposit costs declined due to lower rates on money market, checking accounts, and certificates of deposit
NON-INTEREST EXPENSES - Decrease from prior quarter due to lower compensation and benefits and reduced valuation allowances on repossessed assets
Company press release: ID:nGNX8yflDG
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.83
Q1 Net Income
$5.07 mln
Q1 Net Interest Income
$15.02 mln
Q1 Dividend
$0.21
Q1 Net Interest Margin
4.24%
Q1 Pretax Profit
$6.32 mln
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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.)