Home Federal Bancorp's Q1 profit surges on higher net interest income

Reuters
Oct 24
<a href="https://laohu8.com/S/HFBL">Home Federal Bancorp</a>'s Q1 profit surges on higher net interest income

Overview

  • Home Federal Bancorp fiscal Q1 net income rises to $1.599 mln from $941,000 yr/yr

  • Company's net interest income increases by $834,000, contributing to higher profitability

  • Non-interest income rises by $350,000, driven by reduced real estate losses

Outlook

  • Company did not provide specific guidance for future periods in press release

Result Drivers

  • NET INTEREST INCOME - Increase driven by a $565,000 reduction in interest expense and a $269,000 rise in interest income

  • NON-INTEREST INCOME - Growth due to a $254,000 decrease in real estate sale losses and a $50,000 gain on loan sales

  • NON-INTEREST EXPENSE - Decrease attributed to reduced compensation and benefits, audit fees, and taxes

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

$1.59 mln

Q1 Net Interest Income

$5.26 mln

Q1 Pretax Profit

$2.01 mln

Press Release: ID:nGNX6PZxT5

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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.)

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