Company expects Q3 results to benefit from recent securities purchases funded at favorable rates
Pathfinder says nonperforming loan levels may fluctuate near term as resolution activities continue
Company continues to focus on leveraging core deposits to fund future loan growth
Overview
U.S. community bank's Q2 net income rose sequentially and year-over-year
Net interest income grew from Q1, but fell compared to prior year
Loans and deposits declined from both previous quarter and year-ago period
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.42
Q2 Net Interest Margin
3.08%
Result drivers
Securities redeployment - Net interest income rose from Q1 as the company shifted underutilized liquidity into available-for-sale securities, generating incremental earnings
Provision benefit - Q2 results included a provision benefit, attributed to prior risk-based reserve builds and stabilization of credit costs
PBHC•
