Cornerstone Bancorp Q2 Profit Jumps 14% on Expanding Loan Book and NIM
CNBP has more than doubled off its 52-week low of $52.51.
Summary
Cornerstone Bancorp delivered a strong Q2 with net income and EPS up 14% year-over-year, driven by a 12.5% increase in net interest income. The net interest margin widened to 3.97% from 3.65% a year ago, while the loan portfolio expanded 16%. Trust and wealth management assets under management surged 28%, boosting fee revenue. No forward guidance was provided, but the broad-based growth across lending and fee-based businesses signals solid execution in a favorable rate environment.
At the time of this announcement, CNBP was trading at $120.10 on OTC in the Finance sector, with a market capitalization of approximately $119.4M. The 52-week trading range was $52.51 to $150.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.