Landmark Bancorp Q2 revenue hits record level on higher net interest income, loan sales - LARK News | RalliesLandmark Bancorp Q2 revenue hits record level on higher net interest income, loan sales
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LARK• Outlook
- Landmark Bancorp did not provide specific guidance for the current or upcoming quarters in the press release
Overview
- U.S. community bank's Q2 EPS rose 6.1% yr/yr to $0.88, net income up to $5.4 mln
- Company posted record revenue above $19 mln, driven by higher net interest income and loan sales
- Board declared quarterly cash dividend of $0.21 per share
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 EPS | | $0.88 | |
| Q2 Net Income | | $5.39 mln | |
| Q2 Net Interest Income | | $15.08 mln | |
| Q2 Dividend | | $0.21 | |
| Q2 Net Interest Margin | | 4.22% | |
| Q2 Pretax Profit | | $6.71 mln | |
Result drivers
- Net interest income - Higher rates on investments and lower deposit and borrowing costs drove net interest income growth despite lower loan yields
- Loan sales - Increased gains on sale of loans boosted non-interest income as volume of loans sold in the secondary market rose
