Chino Commercial Bancorp Q2 net income rises on higher net interest income - CCBC News | RalliesChino Commercial Bancorp Q2 net income rises on higher net interest income
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CCBC• Outlook
- Company did not provide specific guidance for future quarters or the full yr in the press release
Overview
- U.S. community bank's Q2 net income rose 18% yr/yr, with EPS up from last year
- Net interest income and margin improved from prior year
- Company set records for assets, deposits, loans, net earnings, and capital
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Net Income | | $1.82 mln | |
| Q2 Net Interest Income | | $4.40 mln | |
| Q2 Net Interest Margin | | 3.94% | |
Result Drivers
- Net interest income - Higher net interest income and improved net interest margin supported Q2 earnings
- Loan growth - Gross loans increased 9.7% since year-end, contributing to higher interest income
- Merchant services - Merchant Services Program was one of the fastest-growing business lines, with card processing sales volume up 37% yr/yr
