Citizens Holding Q2 net income climbs 69.4% to $3.2 million vs prior quarter

Loans increased 5.72% from Q1 to $892.79 million; deposits fell 2% to $1.32 billion, while noninterest-bearing balances rose 3.8% to $301.82 million.

CEO Stacy Brantley said the bank lifted its Tier 1 leverage ratio by 14 bps in Q2 to 9.11%, up 66 bps year-to-date.

Citizens Holding posted Q2 net income of $3.2 million, up 69.4% from Q1, with EPS of $0.56.

Net interest income rose 3.1% from Q1 to $11.64 million; net interest margin widened 3 basis points to 3.37%.

Noninterest income climbed 43.9% from Q1, driven by a $1.51 million pre-tax gain from a branch sale-leaseback.