Loan growth and interest income - Co said higher loan balances and increased interest income and fees on loans drove net interest income growth, with additional benefit from accelerated deferred loan fee income on a loan payoff
Wealth management income - Wealth management income rose due to a new client fee schedule and estate fee income
Commercial deposit and market expansion - Co cited commercial deposit growth and expansion into new and existing markets as strategic priorities, contributing to business development costs and marketing expense increases
Q2 earnings and dividend increase
US community bank's Q2 net income rose 60% yr/yr, with adjusted EPS up 54%
Company attributes record earnings to loan growth, higher net interest margin, and wealth management income
Quarterly dividend raised 15% from prior quarter to $0.15 per share
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