Overview

• US community bank's Q2 net income and diluted EPS rose 40% yr/yr

• Net interest income for Q2 rose 21%, driven by higher average loans and loan yields

• Asset quality remained strong with zero non-performing assets for seventh straight quarter

Outlook

• Company did not provide specific guidance or outlook for future quarters or the full year

Result Drivers

• LOAN GROWTH AND YIELDS - Net interest income rose due to higher average loans and a 10 basis point increase in loan yields

• NONINTEREST INCOME - Increase driven by higher service charges and debit card income from more deposit accounts

• ASSET QUALITY - Zero non-performing assets for seventh consecutive quarter

Company press release: ID:nPn3rbYp0a

Key Details

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