US Metro Bancorp Q2 profit rises as loans and deposits grow

Overview

• US bank holding company reported Q2 net income and EPS up yr/yr and qtr/qtr

• Total assets, loans, and deposits grew by double digits from a year earlier

• Provision for credit losses and non-performing assets both increased yr/yr

Outlook

• Company did not provide specific guidance for the current quarter or full year

Result Drivers

• NET INTEREST INCOME - Higher net interest income supported earnings growth, rising 10.8% qtr/qtr and 21.5% yr/yr

• LOAN AND DEPOSIT GROWTH - Double-digit increases in loans and deposits contributed to asset growth

Company press release: ID:nBwPrp1Ta

Key Details

Reuters Recommended Reads

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(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.)