Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Security Bancorp Q3 net profit rises on higher net interest income

By Reuters News


Overview

  • Tennessee bank holding company reported fiscal Q3 net income and EPS up yr/yr

  • Fiscal Q3 net interest income rose 14.5% yr/yr on loan growth and higher loan rates

  • Non-interest income fell in Q3 due to lower gains on secondary market loan sales


Outlook

  • Company did not provide specific guidance or outlook for the current or future periods in the press release


Result Drivers

  • LOAN GROWTH AND HIGHER RATES - Co said increased loan balances and higher loan rates drove net interest income

  • LOWER LOAN SALE GAINS - Co said non-interest income declined due to lower gains on secondary market loan sales

  • HIGHER OPERATING COSTS - Co said non-interest expense rose due to higher salary, employee benefits and occupancy costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$1.66 mln

Q3 Net Interest Income

$3.97 mln

Q3 Basic EPS

$4.40


Reuters Recommended Reads

  • Nov 5 - Triad Business Bank Q3 net interest income rises on loan growth

  • Nov 5 - United Bancorp Q3 net income falls on loan charge-off

  • Nov 5 - Commerzbank Q3 profit jumps 45%; backs FY forecast


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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.