Pacific Valley Bancorp Q2 net income rises on higher loan interest income
PVBK•Outlook
Pacific Valley Bancorp did not provide specific guidance for the current or future periods in the press release.
Quarterly results
Pacific Valley Bancorp's second-quarter net income rose 52% year over year on higher loan interest income.
- Q2 basic EPS increased to $0.24 from $0.19 a year earlier.
- Total assets, loans, and deposits all saw double-digit year-over-year growth in the quarter.
Key financial details
| Metric | Actual |
|---|---|
| Q2 net income | $1.40 million |
| Q2 net interest income | $5.80 million |
| Q2 basic EPS | $0.24 |
| Q2 net interest margin | 3.82% |
Drivers of the increase
Higher loan interest income was the main driver of increased net income and net interest margin.
Growth in C&I, land, and CRE loans, along with increased money market and demand deposits, contributed to balance sheet expansion.
