Overview
Pacific West Bancorp Q3 net income rises 139.1% quarter-over-quarter
Net interest margin improves to 3.17% from 3.11% in prior quarter
Outlook
Pacific West Bancorp sees strong loan pipeline heading into Q4
Company expects full benefit to interest income from loan growth in future periods
Result Drivers
LOAN GROWTH - Significant loan growth of $11.7 mln in Q3 contributed to increased interest income
DEPOSIT MIX IMPROVEMENT - Strategic reduction of high-cost deposits improved net interest margin
INVESTMENT GAINS - Sale of an investment resulted in a gain of $182 thousand, contributing to earnings
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.11
Q3 Net Income
$310,000
Q3 Basic EPS
$0.11
Q3 Net Interest Margin (%)
3.17%
Q3 Provision for Credit Losses
$171,000
Press Release: ID:nPn8wH5BFa
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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.)