NET INTEREST INCOME - Higher loan interest income drove a 2.9% increase in net interest income from the prior qtr, partially offset by higher interest expense
CREDIT LOSS PROVISION REVERSAL - Q2 included a $0.2 mln provision reversal, compared with a $2.0 mln expense in the prior qtr, reflecting net recoveries and lower delinquencies
HIGHER NONINTEREST EXPENSES - Noninterest expense rose $1.2 mln from the prior qtr, mainly due to investments in personnel and professional services for the planned NASDAQ uplisting
Quarterly results
U.S. community bank's Q2 net income and EPS rose yr/yr and sequentially
Company authorized $10 mln share repurchase program
Credit metrics improved with declines in non-performing assets and criticized loans
Key details and analyst coverage
Metric
Actual
Q2 EPS
$2.27
Q2 Net Income
$13.12 mln
Q2 Net Interest Income
$33.55 mln
Q2 Basic EPS
$2.29
Q2 Pretax Profit
$17.89 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
PBAM•
