Overview

• US regional bank's fiscal Q3 net income rose yr/yr on higher net interest income

• Company's non-interest income fell and non-interest expenses rose in fiscal Q3

• Increase in expenses mainly due to higher salaries and data processing costs

Outlook

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

Result Drivers

• HIGHER INTEREST INCOME - Increase in total interest income was a primary driver of higher net interest income in Q3

• LOWER INTEREST EXPENSE - Decrease in total interest expense contributed to higher net interest income

• LOWER PROVISION FOR LOAN LOSSES - Provision for loan and lease losses fell to $57,000 from $99,000 yr/yr, supporting net income growth

Company press release: ID:nGNX4YD197

Key Details

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