Chino Commercial Bancorp Q2 net income rises on higher net interest income

CHINO COMMERCIAL BANCORP (CA)

CHINO COMMERCIAL BANCORP (CA)

CCBC

0.00


Overview

  • U.S. community bank's Q2 net income rose 18% yr/yr, with EPS up from last year

  • Net interest income and margin improved from prior year

  • Company set records for assets, deposits, loans, net earnings, and capital


Outlook

  • Company did not provide specific guidance for future quarters or the full yr in the press release


Result Drivers

  • NET INTEREST INCOME - Higher net interest income and improved net interest margin supported Q2 earnings

  • LOAN GROWTH - Gross loans increased 9.7% since year-end, contributing to higher interest income

  • MERCHANT SERVICES - Merchant Services Program was one of the fastest-growing business lines, with card processing sales volume up 37% yr/yr


Company press release: ID:nGNX872MQh


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Net Income

$1.82 mln

Q2 Net Interest Income

$4.40 mln

Q2 Net Interest Margin

3.94%


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