Calvin B Taylor Bankshares Q2 net income falls on higher operating expenses
TYCB•No specific guidance provided
The company did not provide specific financial guidance for the current or upcoming periods.
Q2 net income falls as expenses rise
Calvin B Taylor Bankshares said second-quarter net income declined year over year and quarter over quarter as higher operating expenses weighed on earnings. The company reported Q2 net income of $3.7 million.
Higher salaries, benefits and professional fees impacted results.
Loan and deposit growth supports asset expansion
The company said strong organic loan and deposit growth drove asset expansion and supported higher net interest income. Calvin B Taylor Bankshares also surpassed $1 billion in assets.
Net interest margin expanded during the quarter, helped by higher yields on loans and investment securities.
