CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Century Next Financial Q3 net income rises on deposit growth

By Reuters News


Overview

  • US community bank's Q3 net income rose 6.6% yr/yr, with diluted EPS up to $2.41

  • Net interest income for Q3 increased 5.1%, net interest margin improved to 4.64%

  • Noninterest income fell 22.7% in Q3, mainly due to lower gains on foreclosed assets


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • NET INTEREST MARGIN - Co said Q3 net interest margin improved to 4.64% as yield on earning assets increased and cost of interest-bearing liabilities decreased

  • DEPOSIT GROWTH - Co attributed increase in cash and cash equivalents to strong deposit growth during the period

  • NONINTEREST INCOME DECLINE - Co said lower noninterest income in Q3 was mainly due to reduced gains on repossessed foreclosed assets compared to prior year


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$2.41

Q3 Net Income

$4.55 mln

Q3 Net Interest Income

$10.49 mln

Q3 Net Interest Margin

4.64%

Q3 Pretax Profit

$5.74 mln

Q3 Provision for Credit Losses

$0


Reuters Recommended Reads

  • Oct 22 - Glacier Bancorp Q3 net income jumps on higher loan yields

  • Oct 22 - OP Bancorp Q3 net income rises 16% on loan growth

  • Oct 22 - Community bank USCB Q3 net interest income rises on loan growth


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.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.