PFS Bancorp Q2 net income slips 0.2% to $437,000; net interest income rises 9.7% to $1.6 million - PFSB News | RalliesPFS Bancorp Q2 net income slips 0.2% to $437,000; net interest income rises 9.7% to $1.6 million
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PFSB• Quarterly results and margin improvement
- PFS Bancorp posted Q2 net income of $437,000, down 0.2% from a year earlier.
- Net interest income rose 9.7% to $1.6 million, as net interest margin widened 26 basis points to 3.17%.
- Provision for credit losses fell to $25,000 from $57,000; allowance for credit losses was $860,000, or 0.77% of total loans.
- Noninterest expense climbed 19.3% to $1.2 million, driven mainly by higher salaries and benefits tied to stock incentive plan costs.
- At June 30, total assets were $208 million, up 0.5% from Dec. 31; deposits increased 0.6% to $167.5 million.
