Overview

• US regional bank's Q2 net earnings were flat yr/yr at $5.2 mln

• Net interest income rose due to higher loan balances and lower interest expense

• Earnings offset by higher provision for credit losses and lower non-interest income

Outlook

• Company did not provide specific guidance or outlook for future periods in the press release

Result Drivers

• NET INTEREST INCOME - Higher net interest income driven by increased loan balances and lower interest expense

• CREDIT LOSS PROVISION - Higher provision for credit losses reflecting loan growth and increased net charge-offs

• NON-INTEREST INCOME - Lower non-interest income mainly due to a decrease in appraisal management fee income from reduced appraisal volume

Company press release: ID:nACSl4JxPa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Income		$5.23 mln
Q2 Net Interest Income		$15.97 mln
Q2 Pretax Profit		$6.73 mln
Q2 Provision for Credit Losses		$293,000

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