Company did not provide specific guidance or forecasts for future quarters or full yr
Overview
U.S. community bank's Q2 net income rose 20% yr/yr on higher net interest income
Q2 basic EPS increased to $2.12 from $1.76 a year ago
Non-performing assets rose, mainly from commercial and construction real estate loans
Result drivers
Net interest income - Higher net interest income, driven by increased investment income and lower interest expense, supported Q2 results
Loan and investment growth - Growth in average loans and investment securities contributed to higher interest income
Credit loss provision - Provision for credit losses reflected updated loss driver analysis, economic impact of Iran conflict, and higher reserves for non-performing loans
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
$10.20 mln
The one available analyst rating on the shares is "buy"
CZFS•
