Security Federal Q2 net income rises on higher interest income - SFDL News | RalliesSecurity Federal Q2 net income rises on higher interest income
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SFDL• Outlook
- Company did not provide specific guidance or outlook for future quarters or the full year in its press release
Overview
- U.S. regional bank's Q2 net income available to common shareholders rose 55% yr/yr on higher net interest and non-interest income
- Provision for credit losses increased to $240,000 from zero a year ago
- Allowance for credit losses to gross loans stood at 1.98%, little changed from a year earlier
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Net Income | | $4.11 mln | |
| Q2 Net Interest Income | | $12.51 mln | |
| Q2 Basic EPS | | $1.19 | |
| Q2 Pretax Profit | | $4.94 mln | |
Result drivers
- Net interest income - Co said higher net interest income, up 10.6% yr/yr, drove Q2 results
- Non-interest income - Co said non-interest income rose 23.7% yr/yr, contributing to earnings growth
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