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The margin move explains the earnings decline. Gross margin of 33.4% is 360 basis points below the 37.0% of the second quarter, which had risen 280 basis points year over year, and is slightly below the consolidated 33.8% of the first quarter. Volume was …
Core operating metrics improved while credit and funding costs rose. Net interest income increased 5% sequentially, net interest margin expanded 4 basis points and adjusted pre-provision net revenue rose 6%. Mr. Otting cited headwinds including a higher interest rate environment, deposit competition, persistent inflation …
Margin improved while credit and balance sheet growth softened. Net interest margin increased 5 basis points to 3.30%. Total loans and leases decreased USD 115.1 million to USD 14.5 billion, total deposits rose USD 50.4 million to USD 20.2 billion, and noninterest income of …
The year-over-year comparison is flattered by one-time costs in the prior year, which included USD 2.7 million in gross profit and USD 3.0 million in operating income from facility optimization. Adjusting for those, EPS rose from USD 0.52 to USD 0.86, about 65%, simple …
Net interest income expansion came from the Core Banking segment, which increased net interest income by USD 4.8 million, or 8%, despite a lower-rate environment for most of the past year. President and CEO Logan Pichel attributed the margin gain, 25 basis points to …
Margin expansion drives the earnings. Net interest margin of 3.65% compares with 3.58% in the second quarter and 3.20% a year earlier. Net interest income of USD 77.3 million rose USD 3.3 million, or 4.5%, sequentially, and USD 13.4 million, or 21.0%, year over …
Management set expectations in July. The second-quarter net interest margin of 3.73% was boosted by interest recovery and was 3.60% excluding it. Chief Financial Officer Edward Czajka expected the third-quarter margin in the mid-3.50% range and said tighter loan pricing and difficult deposit pricing …
Profitability is high but unit economics eased slightly. Net interest margin of 4.07% fell four basis points sequentially but remains 39 basis points above the 3.68% of a year ago. Interest income of USD 69.7 million fell USD 678,000, or 1.0%, sequentially, primarily because …
Revenue growth was modest and credit costs helped. Total revenues of USD 139.2 million rose from USD 134.8 million. Insurance income eased to USD 11.6 million from USD 11.9 million, other income rose 8.3% to USD 4.3 million, and the provision for credit losses …
Balance sheet growth is concentrated in construction. Net loans rose USD 160.0 million since year end, after a USD 31.8 million decline in the first quarter and a USD 59.4 million increase in the second quarter, so growth accelerated through the year. Chairman and …
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