White River Bancshares' Q2 profit rises as interest margin expands

WHITE RIVER BANCSHARES CO

WHITE RIVER BANCSHARES CO

WRIV

0.00


Overview

  • U.S. community bank's Q2 net income and EPS rose yr/yr and sequentially

  • Net interest income and margin increased, driven by lower deposit costs and stable asset yields

  • Total deposits grew 14.5% yr/yr; credit quality remained sound despite slight rise in nonperforming loans


Outlook

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


Result Drivers

  • NET INTEREST MARGIN - Co said margin expanded due to lower deposit costs while asset yields remained stable

  • NONINTEREST INCOME - Co reported higher noninterest income, including increases in wealth management and secondary market fees


Company press release: ID:nGNX1z2FQp


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 EPS

$1.70

Q2 Net Interest Margin

3.59%


Reuters Recommended Reads

  • July 21 - Peoples Bancorp Q2 net interest income rises on lower costs

  • July 21 - Southern First Bancshares' Q2 profit rises on loan growth and margin expansion

  • July 20 - MainStreet Bancshares Q2 profit rises on higher interest margin


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