Redwood Capital Bancorp Q2 net interest income rises on loan growth

Overview

• US community bank's Q2 net income rose 41% yr/yr, EPS up 50% yr/yr

• Net interest income for Q2 increased 14% from a year earlier

• Company declared quarterly dividend of $0.10 per share

Outlook

• Company says it continues to provide consistent earnings for its shareholders

Result Drivers

• LOAN GROWTH - Co said solid loan growth contributed to Q2 results

• NET INTEREST MARGIN - Co said expanded net interest margin supported Q2 performance

• NON-INTEREST INCOME - Non-interest income increased 22% yr/yr, contributing to earnings

Company press release: ID:nBw6j0pywa

Key Details

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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.)