First US Bancshares Q2 profit rises on loan growth, lower deposit costs - FUSB News | RalliesFirst US Bancshares Q2 profit rises on loan growth, lower deposit costs
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FUSB• Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 EPS | | $0.31 | |
| Q2 Net Interest Income | | $9.50 mln | |
| Q2 Basic EPS | | $0.31 | |
| Q2 Net Interest Margin | | 3.56% | |
Result drivers
- Loan growth - Co said loan growth in construction and indirect consumer lending portfolios drove results
- Deposit cost management - Margin improvement from Q1 attributed to managing deposit costs downward
- Securities gains - Non-interest income increased due to gains on sale of investment securities
Outlook remains uncertain
- Company says geopolitical and economic environments remain uncertain
Quarterly profit rises on lower credit loss provisions
- US regional bank's Q2 net income rose sharply yr/yr, driven by lower credit loss provisions
- Net interest income and margin increased from Q1, supported by loan growth and lower deposit costs
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