Elmer Bancorp's annual net income rises on loan growth
Overview
Community bank's Q4 net income stable yr/yr at $718,000
Company's annual net income rose to $3.302 mln, driven by loan and deposit growth
Net interest income for Q4 rose $337,000 yr/yr due to higher loan fees
Outlook
Company did not provide specific guidance for future quarters or years
Result Drivers
NET INTEREST INCOME - Increase driven by higher interest and fees on loans and overnight investments, partially offset by higher interest paid on deposits
NON-INTEREST INCOME - Growth due to increases in BOLI and service fee income
NON-INTEREST EXPENSES - Rise attributed to higher employment and professional fees, partially offset by lower OREO expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Net Income |
| $718,000 |
|
Q4 Net Interest Income |
| $4.04 mln |
|
Q4 Investments |
| $23.22 mln |
|
Q4 Loan Loss Provision |
| $33,000 |
|
Q4 Pretax Profit |
| $964,000 |
|
Press Release: ID:nBw5rZPqka
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