Peoples Bancorp of North Carolina Q2 net interest income rises - PEBK News | RalliesPeoples Bancorp of North Carolina Q2 net interest income rises
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PEBK• Outlook
- Company did not provide specific guidance or outlook for future periods in the press release
Key details
| Metric | Actual |
|---|
| Q2 Net Income | $5.23 mln |
| Q2 Net Interest Income | $15.97 mln |
| Q2 Pretax Profit | $6.73 mln |
| Q2 Provision for Credit Losses | $293,000 |
Result drivers
- Net interest income - Higher net interest income driven by increased loan balances and lower interest expense
- Credit loss provision - Higher provision for credit losses reflecting loan growth and increased net charge-offs
- Non-interest income - Lower non-interest income mainly due to a decrease in appraisal management fee income from reduced appraisal volume
Quarterly results
- US regional bank's Q2 net earnings were flat yr/yr at
$5.2 mln
Net interest income rose due to higher loan balances and lower interest expenseEarnings were offset by higher provision for credit losses and lower non-interest income•
