Company says it is well positioned to continue to produce solid results in final fiscal qtr
Overview
US community bank's fiscal Q3 net income rose 25% yr/yr on higher net interest income
EPS for fiscal Q3 increased to $0.50 from $0.40 a year earlier
Company declared a quarterly dividend of $0.10 per share
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Dividend
$0.10
Result drivers
Net interest margin - Higher net interest margin and increased average interest-earning assets drove net interest income growth
Other income - Gains on the sale of SBA loans contributed to higher other income, partly offset by lower service charge and swap fee income
Credit loss provision - Higher provision for credit losses due to growth in commercial real estate loans, partly offset by lower mortgage and construction loan activity and improving economic data
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