Overview

• US community bank's Q2 net income rose 5.3% yr/yr, with diluted EPS up

• Net interest income for Q2 increased 4.8% yr/yr, net interest margin improved to 4.6%

• Nonperforming assets declined, mainly due to sale of a foreclosed asset

Outlook

• Company did not provide specific guidance or outlook for future periods

Result Drivers

• NET INTEREST INCOME - Higher yields on interest-earning assets and lower cost of interest-bearing liabilities drove a 4.8% increase in net interest income and improved net interest margin

• NONINTEREST INCOME - Noninterest income rose 14.4% yr/yr, contributing to overall earnings growth

Company press release: ID:nGNXbNJ4D9

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$2.20
Q2 Net Income		$4.14 mln
Q2 Net Interest Income		$10.19 mln
Q2 Net Interest Margin		4.6%
Q2 Pretax Profit		$5.16 mln
Q2 Provision for Credit Losses		$438,000

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