Q3 results include an $8.2M previously disclosed charge-off taken against a $13.7M office loan participation as a 79c drag to EPS. Reports Q3 pre-tax, pre-provision net revenue $9.0M, or $1.17 per share, fell 7% relative to the Q2 at $9.7M, or $1.25 per share. “Although we were disappointed with the elevated charge-off in the Q3, the Company’s go-forward outlook remains favorable. Our liability sensitive balance sheet leaves us well positioned for accelerating margin expansion in the coming quarters, and we believe that strategic investments in our commercial lending platform will help us diversify our assets and improve our profitability.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BWFG:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue