Farmers National Banc reports higher Q2 profit
Overview
Farmers National Banc Q2 net income rises to $13.9 mln from $11.8 mln yr/yr
Net interest margin improves to 2.91% from 2.71% yr/yr
Pretax profit misses analyst expectations, per LSEG data
Outlook
Company anticipates continued rate volatility in bond market affecting portfolio value
Farmers expects net interest margin expansion in 2025 contingent on Fed rate cuts
Company highlights growth in fee-based lines of business for future revenue
Result Drivers
LOAN GROWTH - Strong loan growth, particularly in commercial loans, contributed to higher net interest income
NET INTEREST MARGIN - Improvement driven by higher yields on earning assets and lower funding costs
NONINTEREST INCOME - Increase due to improved performance in fee-based lines and reduced securities losses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.37 |
|
Q2 Net Income |
| $13.91 mln |
|
Q2 Net Interest Income |
| $34.92 mln |
|
Q2 Pretax Profit | Miss | $16.32 mln | $16.90 mln (2 Analysts) |
Q2 Credit Loss Provision |
| $3.55 mln |
|
Press Release: ID:nBw3jCmjMa
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