Southern Banc Q4 net income jumps on higher loan interest

By Reuters News


Overview

  • US community bank's unaudited fiscal Q4 net income rose sharply year-over-year

  • Q4 net interest income increased, driven by higher interest and fees on loans and securities

  • Company's Q4 non-interest income declined, mainly due to lower miscellaneous income


Outlook

  • Company did not provide specific guidance or outlook for the current quarter or year


Result Drivers

  • LOAN GROWTH - Co said higher interest and fees on loans drove Q4 net interest income increase

  • SECURITIES INCOME - Co said higher interest on securities contributed to Q4 net interest income growth

  • LOWER NON-INTEREST EXPENSE - Co said Q4 non-interest expense fell, mainly due to reduced salaries, benefits and professional services


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Net Income

$493,000

Q4 Pretax Profit

$651,000


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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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