PSB Holdings Q2 EPS falls year over year
PSBQ•Outlook
- Company expects merger with Bank First to close in early fourth quarter, pending approvals
Overview
- US community bank's Q2 diluted EPS fell yr/yr to $0.81, net income declined
- Net interest income increased yr/yr, supported by higher loan balances and yields
Key details
| Metric | Actual |
|---|---|
| Q2 EPS | $0.81 |
| Q2 Net Income | $3.40 mln |
| Q2 Net Interest Income | $12.14 mln |
| Q2 Basic EPS | $0.82 |
| Q2 Pretax Profit | $4.23 mln |
Result drivers
- Net interest income - Higher loan balances and yields, along with lower deposit and FHLB advance costs, drove an increase in net interest income
- Noninterest income - Noninterest income declined, reflecting lower investment and insurance sales commissions and absence of prior quarter's one-off gains
- Operating costs - Noninterest expenses fell due to lower salary and benefit plan expenses from staff reductions and lower incentive accruals, despite higher merger-related costs
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