Pinnacle Bancshares Q3 profit rises, net interest margin improves
Pinnacle Bancshares Q3 profit rises, net interest margin improves
Overview
US community bank's Q3 net income and EPS rose yr/yr
Company's Q3 net interest margin increased to 3.26% from 3.20% last year
Nine-month results included a loss on sale of securities, offset by purchase of higher-yielding assets
Outlook
Company did not provide specific guidance for future quarters or the full year in its press release
Result Drivers
NET INTEREST MARGIN - Co said Q3 net interest margin rose to 3.26% from 3.20% last yr, reflecting higher yields on loans and securities
INCOME TAX CREDITS - Amortization of solar income tax credits reduced income tax expense by $62,000 in Q3, with no comparable benefit last yr
Company press release: ID:nBwbhQbHna
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Interest Margin |
| 3.26% |
|
Q3 EPS |
| $1.4 |
|
Q3 Net Income |
| $1.26 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.)