First Commerce Bank Q4 net income triples year-over-year
Overview
Financial services firm's Q4 net income rose yr/yr
Adjusted EPS for Q4 increased yr/yr
Company completed $38.9 mln subordinated note offering
Outlook
Company plans to explore business strategies to enhance franchise and shareholder value
Result Drivers
BALANCE SHEET GROWTH - Successful execution of balance sheet growth initiative and Federal Reserve's rate cuts enhanced operational results, per CEO Donald Mindiak
INCREASED INTEREST INCOME - Total interest and dividend income rose due to growth in average interest-earning assets
REDUCED NON-ACCRUAL LOANS - Reduction in non-accrual loan balances provided a conservative buffer for potential asset quality downturns
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Interest Income |
| $12.7 mln |
|
Q4 Net Interest Margin |
| 3.03% |
|
Press Release: ID:nACSbFZBza
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