Chino Commercial Bancorp Q2 net income rises on higher net interest income

Overview

• U.S. community bank's Q2 net income rose 18% yr/yr, with EPS up from last year

• Net interest income and margin improved from prior year

• Company set records for assets, deposits, loans, net earnings, and capital

Outlook

• Company did not provide specific guidance for future quarters or the full yr in the press release

Result Drivers

• NET INTEREST INCOME - Higher net interest income and improved net interest margin supported Q2 earnings

• LOAN GROWTH - Gross loans increased 9.7% since year-end, contributing to higher interest income

• MERCHANT SERVICES - Merchant Services Program was one of the fastest-growing business lines, with card processing sales volume up 37% yr/yr

Company press release: ID:nGNX872MQh

Key Details

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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.)