Alpine Banks Q2 net income rises as loan balances grow
Outlook
- Company did not provide specific guidance or outlook for future quarters or the full year
Overview
- US regional bank's Q2 net income rose 13% yr/yr, driven by higher loan balances
- Net interest margin improved to 3.79% from 3.50% a year earlier
- Provision for credit losses rose to $4 mln from $1.6 mln a year ago
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Income | $19.90 mln | ||
| Q2 Net Interest Margin | 3.79% | ||
| Q2 Provision For Loan Losses | -$4 mln |
Result drivers
- Loan growth - Higher loan balances, particularly in commercial real estate, commercial and industrial, residential, and consumer loans, drove increased net interest income
- Net interest margin - Repricing of loans and securities originated in 2020-2022 contributed to higher net interest margin
- Credit loss provision - Provision for credit losses rose mainly due to loan growth and adjustments to the allowance for credit losses
