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Security Federal Q3 profit rises 13% on higher interest income

By Reuters News


Overview

  • US regional bank's Q3 net income available to common shareholders rose 13% yr/yr

  • Q3 profit growth driven by higher net interest and non-interest income

  • Company authorized repurchase of up to 124,035 shares


Outlook

  • Company did not provide specific guidance for future quarters or the full year


Result Drivers

  • HIGHER NET INTEREST INCOME - Co said Q3 net interest income rose 4.9% yr/yr, helping drive profit growth

  • HIGHER NON-INTEREST INCOME - Co said Q3 non-interest income increased 6.0% yr/yr


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$4.002 mln

Q3 Net Interest Income

$12.67 mln

Q3 Basic EPS

$1.16

Q3 Pretax Profit

$5 mln


Reuters Recommended Reads

  • Oct 30 - US regional bank Inscorp's Q3 revenue rises on loan growth

  • Oct 30 - Bank of the James' Q3 profit rises on higher interest income

  • Oct 30 - Peoples Financial Services Q3 net income rises on higher loan volume, yields


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.)

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