KS Bancorp Q4 net income surges on loan demand
Overview
North Carolina bank's Q4 net income rose 55% yr/yr, driven by loan demand
Company's total assets grew to $822.6 mln, reflecting strong loan and deposit growth
Company declared a quarterly dividend of $0.30 per share
Outlook
Company remains focused on disciplined balance sheet management and strategic investments
Result Drivers
LOAN DEMAND - Continued loan demand across the branch network drove net loan balances up by $109.7 mln to $664.2 mln
NET INTEREST INCOME - Net interest income before credit losses rose 24.3% to $7.7 mln, supporting earnings growth
DEPOSIT GROWTH - Total deposits increased by $131.4 mln, including a $35.3 mln rise in core deposits
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Income |
| $2.60 mln |
|
Press Release: ID:nACSgfVXBa
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