Oxford Bank Corporation posted Q2 net income of USD 2.71 million, down 2.63% from a year earlier; EPS slipped to USD 1.09.
Net interest income rose 9.61% to USD 11.63 million, with average earning asset yields increasing to 7.15% from 6.93% in the prior quarter.
Deposits increased USD 29 million from Q1 to USD 769.8 million, while loans grew USD 21 million to USD 722.91 million.
Provision for credit losses totaled USD 240,000, reflecting specific reserve allocations tied to certain nonperforming credits; net recoveries were about USD 130,000.
Management said Oxford Commercial Finance loans and leases reached a record USD 147 million, with municipal banking deposits at about USD 65 million.
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