Third Century Bancorp Q3 net income jumps 48% on higher net interest income

By Reuters News


Overview

  • U.S. bank holding company's Q3 net income rose 48% yr/yr, driven by higher net interest income

  • Q3 basic EPS increased yr/yr

  • Company reduced wholesale borrowings amid strong deposit growth and maintained liquidity


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year


Result Drivers

  • NET INTEREST INCOME - Co said higher net interest income was the main driver of increased Q3 net income

  • LOAN AND CASH BALANCES - Co attributed higher interest income to increased average loan and cash balances

  • NON-INTEREST INCOME - Co said increased Trust revenue, loan fees and service charges lifted non-interest income


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.63

Q3 Net Income

$735,000

Q3 Net Interest Income

$2.68 mln

Q3 Basic EPS

$0.63


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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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