Pinnacle Bancshares Q3 profit rises, net interest margin improves

By Reuters News


Overview

  • US community bank's Q3 net income and EPS rose yr/yr

  • Company's Q3 net interest margin increased to 3.26% from 3.20% last year

  • Nine-month results included a loss on sale of securities, offset by purchase of higher-yielding assets


Outlook

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


Result Drivers

  • NET INTEREST MARGIN - Co said Q3 net interest margin rose to 3.26% from 3.20% last yr, reflecting higher yields on loans and securities

  • INCOME TAX CREDITS - Amortization of solar income tax credits reduced income tax expense by $62,000 in Q3, with no comparable benefit last yr


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Interest Margin

3.26%

Q3 EPS

$1.4

Q3 Net Income

$1.26 mln


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  • Oct 20 - White River Bancshares' Q3 profit rises on higher interest income


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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