Overview

• Maryland community bank's Q2 net income and EPS rose sharply yr/yr

• Net interest income increased, supported by a higher net yield on interest-earning assets

• Company recorded no provision for credit losses in Q2, versus a provision last year

Outlook

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

Result Drivers

• NET INTEREST INCOME - Higher net interest income driven by a wider net yield on interest-earning assets and increased yield on assets

• CREDIT LOSS PROVISION - No provision for credit losses recorded in Q2, compared to a provision last year

• LOWER INTEREST EXPENSE - Cost of interest-bearing liabilities decreased, supporting net interest margin

Company press release: ID:nGNX9B6Ngl

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Income		$1.90 mln
Q2 Net Interest Income		$6.78 mln
Q2 Basic EPS		$0.58
Q2 Pretax Profit		$2.51 mln

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