Chino Commercial Bancorp Q3 net earnings rise on higher net interest income, loan growth

By Reuters News


Overview

  • U.S. community bank's Q3 net income rose 22% yr/yr, basic EPS increased to $0.49

  • Net interest income for Q3 grew 16% yr/yr, net interest margin improved to 4.20%

  • Company reported no delinquent loans at quarter-end, loan quality remains strong


Outlook

  • Chino Commercial Bancorp did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • NET INTEREST INCOME - Co said higher net interest income, driven by increased interest and fees on loans, contributed to Q3 earnings growth

  • MERCHANT SERVICES - Co said growth in Merchant Service processing fees and card processing sales volume boosted non-interest income

  • EFFICIENCY IMPROVEMENT - Co said the core efficiency ratio decreased in Q3 as revenue growth outpaced expenses


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$1.88 mln

Q3 Net Interest Income

$4.70 mln

Q3 Net Interest Margin

4.2%


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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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