CB Financial Q2 Net Income Rises to $4.3M, NIM Slips to 3.68%
CBFV sits 21% above its 52-week low of $29.995.
Summary
CB Financial reported Q2 net income of $4.3 million, or $0.80 per diluted share, up from $3.9 million a year ago, with adjusted EPS of $0.81. Net interest income rose for the fifth straight quarter to $14.5 million, but net interest margin dipped to 3.68% from 3.83% last quarter as deposit growth boosted cash balances. Total assets climbed to $1.66 billion, and credit quality remains strong with nonperforming loans at just 0.29% of total loans. The company also declared a quarterly cash dividend. The results topped estimates on strong organic deposit growth, following a strong Q1 and a cybersecurity incident in May that had no material financial impact.
At the time of this announcement, CBFV was trading at $36.33 on NASDAQ in the Finance sector, with a market capitalization of approximately $184.3M. The 52-week trading range was $30.00 to $38.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.