Oakworth Capital Q3 net income rises on loan and wealth-management growth
OAKC•Oakworth Capital’s Q3 net income rose 19% year over year to $6.48 million, while diluted EPS increased 13% to $1.19. The company reported 16% growth in net interest income, 22% growth in trust and wealth fees, and completed a $15.4 million common equity raise.
1. Quarterly results
Oakworth Capital reported Q3 net income of $6.48 million, up 19% year over year, and diluted EPS of $1.19, up 13%. Net interest income increased 16% and trust and wealth fees rose 22% year over year.
2. Growth and capital
The company reported year-over-year increases of 17% in wealth assets, 16% in loans and 17% in deposits. It completed a $15.4 million common equity capital raise during the quarter and reported a 57% efficiency ratio.
