Third Century Bancorp's Q4 net income rises 11.68% yr/yr
Overview
Bank holding company's Q4 net income rose 11.68% yr/yr
Company's non-interest income grew 65.90% due to higher residential loan sales and Trust revenue
Net interest income increased due to higher average loan balances
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
NET INTEREST INCOME - Increased due to higher average loan balances and cash balances, and improved yields on interest-earning assets
NON-INTEREST INCOME - Grew significantly from residential loan sales, Trust revenue and service charge income
INTEREST EXPENSE - Slight decrease contributed to net interest margin expansion
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS |
| $0.47 |
|
Q4 Net Income |
| $550,000 |
|
Q4 Net Interest Income |
| $2.39 mln |
|
Q4 Basic EPS |
| $0.47 |
|
Press Release: ID:nBw5qjQ16a
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