Home Federal Bancorp Q3 profit rises on higher net interest, non-interest income
HFBL•Home Federal Bancorp reported Q3 net income of $1.91 million. Net interest income rose 12.2% year over year to $5.90 million, while non-interest income increased 31.2%.
1. Income gains
Home Federal Bancorp's Q3 net income rose year over year, supported by higher net interest and non-interest income. Net interest income increased 12.2% to $5.90 million, driven by higher interest income from loans and investment securities.
2. Other results
Non-interest income rose 31.2%, mainly due to gains on sales of real estate and fixed assets. The provision for credit losses increased 539.5% year over year, partly offsetting the income gains; Q3 pretax profit was $2.40 million.
