Home Federal Bancorp Q2 net income rises on higher interest income
Overview
Louisiana-based bank's Q2 net income rose yr/yr, driven by higher net interest income
Company's Q2 earnings per share increased yr/yr
Company reported zero dependency on wholesale funding
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
NET INTEREST INCOME - Increase in net interest income by $777,000, or 16.9%, driven by higher interest income and lower interest expense
NON-INTEREST INCOME - Non-interest income rose by $150,000, or 30.7%, mainly due to gains on loan sales and increased service charges
NON-INTEREST EXPENSE - Reduction in non-interest expense by $43,000, driven by lower compensation and benefits, and audit fees
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $1.68 mln |
|
Q2 Net Interest Income |
| $5.38 mln |
|
Q2 Pretax Profit |
| $2.11 mln |
|
Press Release: ID:nGNX9Vp1MF
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