Ledyard Financial Group Q3 net income jumps on loan growth
Overview
U.S. community bank's Q3 net income rose 60% yr/yr, with diluted EPS up to $0.73
Company saw higher net interest income and wealth management revenue in Q3
Company declared a regular quarterly dividend of $0.21 per share
Outlook
Company expects momentum from strategic investments to continue into the final quarter
Company says wealth management remains a growth area and is exploring strategic partnerships
Ledyard says it remains committed to expanding retail funding base alongside loan growth
Result Drivers
NET INTEREST INCOME - Co said net interest income increased in Q3, supported by disciplined loan pricing and lower funding costs
WEALTH MANAGEMENT REVENUE - Co said wealth management revenue grew in Q3, attributed to market performance and business development
LOAN GROWTH - Co said strong loan growth across commercial, residential, and consumer segments contributed to Q3 results
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $0.73 | ||
Q3 Net Income | $2.47 mln | ||
Q3 Basic EPS | $0.74 | ||
Q3 Dividend | $0.21 | ||
Q3 Pretax Profit | $3.07 mln |
Reuters Recommended Reads
Oct 28 - Alerus Financial Q3 profit beats estimates on commercial lending growth
Oct 28 - John Marshall Bancorp Q3 profit up on core deposit growth
Oct 29 - First Business Financial Q3 revenue rises on core deposit 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.)