Redwood Capital Bancorp's Q1 net income rises 19%, lifts dividend

REDWOOD CAP BANCORP

REDWOOD CAP BANCORP

RWCB

0.00


Overview

  • US community bank's Q1 net income rose 19% yr/yr

  • Interest income for Q1 increased 8% yr/yr

  • Company raised quarterly dividend to $0.10 per share from $0.09


Outlook

  • Company did not provide specific guidance for future quarters or full-year results


Result Drivers

  • HIGHER INTEREST INCOME - Q1 interest income rose 8% yr/yr, contributing to overall earnings growth

  • LOWER INTEREST EXPENSE - Interest expense fell 14% yr/yr, supporting net interest income growth

  • NON-INTEREST INCOME GROWTH - Non-interest income increased 12% yr/yr, aiding profitability


Company press release: ID:nBw29WVRLa


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

$1.37 mln


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