Pinnacle Bancshares Q2 net income edges up
PCLB•Outlook
- Company did not provide specific guidance for future quarters or the full year
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 EPS | $1.14 | ||
| Q2 Net Income | $1.03 mln | ||
| Q2 Net Interest Margin | 3.2% |
Result drivers
- Securities sale loss - Co recorded $268,000 loss on sale of securities, proceeds reinvested in higher-yielding, shorter-duration assets
- Interest rate impact - Co said rising interest rates led to unrealized losses in securities portfolio, but does not expect these to be permanent
Quarterly results edge higher
- U.S. community bank's Q2 net income and EPS rose modestly yr/yr
- Company recorded a $268,000 loss on securities sale, reinvested in higher-yielding assets
- Q2 net interest margin improved to 3.20% from 3.13% yr/yr
