Hawthorn Bancshares prelim Q3 net income rises on acquisition of FSC Bancshares
Overview
Missouri bank holding company's preliminary Q3 net income rose 15% from prior year quarter
Adjusted EPS for Q3 rose 38% yr/yr, driven by acquisition of FSC Bancshares
Loans and deposits grew sharply after FSC Bancshares acquisition completed in September
Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release
Result Drivers
ACQUISITION IMPACT - Loans, deposits and investments increased mainly due to the acquisition of FSC Bancshares
HIGHER NET INTEREST INCOME - Net interest income rose from prior quarter and prior year quarter, driven by higher rates on earning assets and lower deposit costs
LOWER NON-INTEREST INCOME - Non-interest income fell from prior quarter due to absence of gain on sale of bank administrative office
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | $1.23 | ||
Q3 EPS | $1.01 | ||
Q3 Net Income | $7.10 mln | ||
Q3 Net Interest Income | $19.30 mln | ||
Q3 Dividend | $0.21 | ||
Q3 Net Interest Margin | 4.41% |
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(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.)