Oakworth Capital Q2 net income rises on higher net interest income and wealth fees

OAKWORTH CAPITAL INC

OAKC

0.00

Overview

U.S. commercial bank's Q2 net income grew 14% yr/yr, diluted EPS up 10%
Revenue for first half rose 15% from prior year, driven by lending and wealth fees
Profitability gains attributed to revenue growth and expense control

Outlook

Company did not provide specific guidance or forecasts for the current or future periods in the press release

Result Drivers

REVENUE GROWTH - Co said profitability gains were driven by higher revenue in banking and wealth management
WEALTH FEES - Trust and wealth fee income rose 22% yr/yr, supporting non-interest income growth
LOAN AND DEPOSIT GROWTH - Loans grew 15% and deposits 12% yr/yr, reflecting strength in core business

Company press release: ID:nPn5fjYz5a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$1.13
Q2 Net Income		$5.87 mln
Q2 Net Interest Income		$18.44 mln
Q2 Basic EPS		$1.15
Q2 Pretax Profit		$7.77 mln
Q2 Provision for Loan Losses		$2.007 mln

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