Mission Valley Bancorp Q2 profit rises on higher interest, noninterest income
MVLY•Outlook
- Company did not provide specific financial guidance for future quarters or the full year
Overview
- US commercial bank's Q2 net income and EPS rose yr/yr
- Net interest and non-interest income increased, aided by gains on loan sales
- Asset quality metrics weakened with higher charge-offs and more non-accrual loans
Result drivers and key details
- Loan sales - Co sold $18.4 mln in SBA loan principal, generating a $1.1 mln gain on sale that supported non-interest income
- Net interest income - Net interest income rose 7.5% yr/yr, supporting overall earnings
- Asset quality pressure - Higher net charge-offs were driven by partial charge-off of a downgraded loan
| Metric | Actual |
|---|---|
| Q2 EPS | $0.54 |
| Q2 Net Income | $1.80 mln |
| Q2 Net Interest Income | $8 mln |
| Q2 CET1 Capital Ratio | 10.24% |
| Q2 Net Interest Margin | 4.34% |
| Q2 Allowance For Credit losses | $8.20 mln |
Related News
Customers Bancorp Chairman Jay S. Sidhu disposes of 31,179 common shares valued at $2.47 million
CUBI•
CO2 Energy Transition Corp - Brady Rodgers Resigns As President, CEO, And Director Effective July 27, 2026 - SEC Filing
NOEM•
