White River Bancshares' Q2 profit rises as interest margin expands

Overview

• U.S. community bank's Q2 net income and EPS rose yr/yr and sequentially

• Net interest income and margin increased, driven by lower deposit costs and stable asset yields

• Total deposits grew 14.5% yr/yr; credit quality remained sound despite slight rise in nonperforming loans

Outlook

• Company did not provide specific financial guidance for the current or future periods in press release

Result Drivers

• NET INTEREST MARGIN - Co said margin expanded due to lower deposit costs while asset yields remained stable

• NONINTEREST INCOME - Co reported higher noninterest income, including increases in wealth management and secondary market fees

Company press release: ID:nGNX1z2FQp

Key Details

Reuters Recommended Reads

• July 21 - Peoples Bancorp Q2 net interest income rises on lower costs

• July 21 - Southern First Bancshares' Q2 profit rises on loan growth and margin expansion

• July 20 - MainStreet Bancshares Q2 profit rises on higher interest margin

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)