Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

Skyline Bankshares Q3 profit rises on loan growth

By Reuters News


Overview

  • US community bank's Q3 net income and EPS rose yr/yr on higher loan growth

  • Net interest margin improved to 4.61% from 4.27% a year earlier

  • Company opened new branch in North Carolina, supporting loan and deposit growth


Outlook

  • Skyline Bankshares expects loan growth to continue to positively impact earning assets and loan yields

  • Company anticipates interest expense on deposits could rise due to competitive pressures for deposits


Result Drivers

  • LOAN GROWTH - Co said higher interest income on loans was driven by organic loan growth, which management expects to continue

  • DEPOSIT REPRICING - Co said lower interest expense on deposits was due to deposit repricing, though expects deposit costs may rise with competition

  • NONINTEREST INCOME - Co said higher service charges and mortgage origination fees contributed to increased noninterest income


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.90

Q3 Net Income

$5.07 mln

Q3 Net Interest Income

$14.49 mln

Q3 Pretax Profit

$6.49 mln

Q3 Provision for Credit Losses

$245,000


Reuters Recommended Reads

  • Oct 26 - Lakeland Financial Q3 net income rises on commercial loan growth

  • Oct 26 - First Farmers Q3 net income rises on strong loan growth

  • Oct 26 - First Resource Bank Q3 profit rises on loan growth


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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.