BNCCorp Q3 net income rises on higher loan yields
BNCC•BNCCorp’s third-quarter net income rose 15% year over year to $3 million, while earnings per share reached $0.85. Net interest income increased 11% to $9.80 million, and net interest margin rose to 3.83%.
1. Quarterly results
BNCCorp reported third-quarter net income of $3 million, up 15% year over year, and earnings per share of $0.85. Net interest income grew 11% to $9.80 million, and net interest margin increased to 3.83%.
2. Drivers and outlook
The company cited higher loan yields and lower core deposit costs as drivers of the margin gain. Loans held for investment grew by $14.7 million, or 2.0%, during the quarter despite elevated payoffs and prepayments. The company provided no specific financial guidance for future quarters or the full year.
