Ohio Valley Banc's Q2 net income up 41.7%, improves interest margin
Overview
Ohio Valley Banc Q2 net income rises 41.7% yr/yr, driven by higher net interest income
Company's net interest margin improves to 4.17% from 3.74% in prior year
Participation in Ohio Homebuyer Plus Program boosts average earning assets and securities
Outlook
Company did not provide specific future earnings or revenue guidance in the press release
Result Drivers
OHIO HOMEBUYER PLUS - Participation in program boosts average earning assets and securities
NET INTEREST MARGIN - Improvement driven by higher yielding securities and loans, and lower cost deposit sources
LOAN GROWTH - Focus on commercial and real estate lending segments contributes to increase in loan balances
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.89 |
|
Q2 Net Income |
| $4.21 mln |
|
Q2 Net Interest Income |
| $14.54 mln |
|
Q2 Net Interest Margin |
| 4.17% |
|
Q2 Pretax Profit |
| $5.19 mln |
|
Press Release: ID:nPn6CnWYYa
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