Princeton Bancorp's Q2 net interest income rises as interest expenses decreased
BPRN•Outlook
- Company did not provide specific guidance or outlook for future quarters or full year
Overview
- U.S. community bank's Q2 net income and EPS rose sharply year-over-year and sequentially
- Net interest income grew 6% from Q1, aided by lower interest expense and higher interest income
- Company recorded a reversal of credit losses, supporting improved profitability
Result drivers
- Net interest income - Growth in net interest income was driven by a decrease in interest expense and an increase in interest income, aided by lower cost of funds and reduced interest-bearing deposits
- Credit loss reversal - A reversal of credit losses contributed to higher net income compared to both prior quarter and prior year
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 EPS | $1.04 | ||
| Q2 Net Income | $7.10 mln | ||
| Q2 Net Interest Income | $20 mln | ||
| Q2 Net Interest Margin (%) |
