First US Bancshares Q2 profit rises on loan growth, lower deposit costs

Overview

• US regional bank's Q2 net income rose sharply yr/yr, driven by lower credit loss provisions

• Net interest income and margin increased from Q1, supported by loan growth and lower deposit costs

• Company repurchased 91,000 shares in Q2 and opened a new banking center in Alabama

Outlook

• Company says geopolitical and economic environments remain uncertain

Result Drivers

• LOAN GROWTH - Co said loan growth in construction and indirect consumer lending portfolios drove results

• DEPOSIT COST MANAGEMENT - Margin improvement from Q1 attributed to managing deposit costs downward

• SECURITIES GAINS - Non-interest income increased due to gains on sale of investment securities

Company press release: ID:nPn75Wx3a

Key Details

Reuters Recommended Reads

• July 29 - Stock Yards Bancorp Q2 net income rises on loan, margin growth

• July 29 - Potomac Bancshares Q2 net income rises on loan growth; lifts dividend

• July 29 - First Commerce Bank Q2 net interest income rises on loan and asset growth

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.)