Oak Ridge Financial Q2 net interest margin hits record high on lower funding costs
Oak Ridge Financial Q2 net interest margin hits record high on lower funding costs
Overview
U.S. community bank's Q2 EPS slipped yr/yr but rose from previous quarter
Company posted record quarterly net interest margin for Q2, driven by lower funding costs
Quarterly dividend rose to $0.16 per share from $0.14 a year ago
Outlook
Company did not provide specific financial guidance for the current quarter or full year
Result Drivers
RECORD NET INTEREST MARGIN - Co said Q2 net interest margin reached a record 4.51%, mainly due to lower funding costs
LOWER NONINTEREST INCOME - Co said noninterest income fell yr/yr due to absence of gains on sale of SBA loans and investment securities
HIGHER NONINTEREST EXPENSE - Co said noninterest expense rose from prior quarter, mainly due to higher salaries
Company press release: ID:nGNX2v6rzB
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.79 |
|
Q2 Dividend |
| $0.16 |
|
Q2 Net Interest Margin |
| 4.51% |
|
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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.)