ES Bancshares Q3 profit rises from prior quarter, margin improves on lower interest expense
Overview
US community bank's Q3 net income and EPS rose from prior quarter
Net interest margin increased to 3.21% from 3.10% in Q2
Book value per share rose for tenth consecutive quarter
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
NET INTEREST INCOME - Co said higher net interest income drove Q3 net income growth despite lower average loan balances
INTEREST EXPENSE - Net interest margin rose due to a decrease in interest expense on borrowings
NON-INTEREST INCOME - Higher service charges and fees on loans contributed to increased non-interest income
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $0.14 | ||
Q3 Net Income | $1 mln | ||
Q3 Net Interest Margin | 3.21% |
Reuters Recommended Reads
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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.)