Overview
SB Financial Q3 net income rises 71.9% yr/yr, driven by strong loan growth
Net interest income for Q3 increases 21.1% yr/yr, reflecting higher loan interest
Company repurchased 101,000 shares, reflecting disciplined capital management
Outlook
Company did not provide specific financial guidance for future periods in its press release
Result Drivers
LOAN GROWTH - Total loans increased by $80.6 mln, or 7.8%, from the prior year, with $62.7 mln of organic growth, supported by the Marblehead acquisition
DEPOSIT GROWTH - Deposits rose $103 mln, or 8.9%, year-over-year, with $52.1 mln organic growth, reflecting strong client retention
NET INTEREST INCOME - Increased by 21.1% to $12.3 mln, driven by higher loan interest and stable funding costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Revenue | $16.57 mln | ||
Q3 EPS | $0.64 | ||
Q3 Net Income | $4.04 mln | ||
Q3 Net Interest Income | $12.33 mln | ||
Q3 Provision For Credit Losses | $124,000 |
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for SB Financial Group Inc is $23.00, about 18.4% above its October 29 closing price of $18.76
Press Release: ID:nGNX7vcCh6
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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.)