First Capital Q3 net interest income rises on higher yields, asset balances
Overview
U.S. bank holding company's Q3 net income and EPS rose yr/yr
Q3 net interest income increased yr/yr, net interest margin improved
Provision for credit losses rose in Q3 compared to prior year
Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release
Result Drivers
HIGHER YIELDS AND ASSET BALANCES - Co said increased interest income was driven by higher yields and larger average balance of interest-earning assets
LOWER INTEREST COSTS - Co attributed decreased interest expense to lower average cost of interest-bearing liabilities
RISING OPERATING COSTS - Co said higher expenses were mainly due to increased compensation, benefits, and inflationary pressures
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $1.53 | ||
Q3 Net Income | $5.11 mln | ||
Q3 Net Interest Income | $12.51 mln | ||
Q3 Net Interest Margin | 4.01% | ||
Q3 Provision For Credit Losses | $355,000 |
Reuters Recommended Reads
Oct 22 - Amerant Bancorp Q3 net income rises on solid loan growth
Oct 22 - Glacier Bancorp Q3 net income jumps on higher loan yields
Oct 22 - 1st Source Q3 net income 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.)