Hawthorn Bancshares prelim Q2 net income rises 20% - HWBK News | RalliesHawthorn Bancshares prelim Q2 net income rises 20%
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HWBK• Outlook
- Company did not provide specific guidance or outlook for future periods
Result drivers and key details
- Higher net interest margin - Co said improvement was driven by higher rates on earning assets and lower deposit costs
- Non-interest income gain - Q2 non-interest income rose due to a gain on sale of a bank administrative office
- Efficiency ratio improvement - Improved efficiency ratio mainly due to higher net interest margin and increased non-interest income
| Metric | Actual |
|---|
| Q2 EPS | $1.06 |
| Q2 Net Income | $7.3 mln |
| Q2 Net Interest Income | $17.3 mln |
| Q2 Dividend | $0.21 |
| Q2 Net Interest Margin | 4.16% |
Preliminary second-quarter results
- US regional bank's preliminary Q2 net income rose 20% yr/yr, EPS up 20%
- Net interest margin for Q2 improved to 4.16% from 3.89% a year ago
- Company raised share repurchase authorization to $10 mln, $8 mln remains available
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