C&F Financial Q2 net income rises on loan growth - CFFI News | RalliesC&F Financial Q2 net income rises on loan growth
C
CFFI• Outlook
- Provision for credit losses may increase if loan performance deteriorates
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Net Income | | $8.63 mln | |
| Q2 Basic EPS | | $2.63 | |
| Q2 Dividend | | $0.48 | |
Result drivers
- Loan growth - Community banking segment loans grew, driven by commercial real estate and land acquisition lending
- Mortgage originations - Higher volume of mortgage loan originations contributed to increased gains on sales of loans and fee income
Quarterly results
- U.S. regional bank's Q2 net income rose 11% yr/yr on loan and mortgage growth
- Adjusted net income for Q2 up 1.5% excluding one-time items
- Company declared Q2 dividend of $0.48 per share and repurchased $312,000 in stock
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