Lexicon COGT reports Q1 EPS $2.07, consensus $1.74

Rick Sowers, President and CEO of the Company and the Bank stated, “The first quarter showed seasonally strong core deposit growth as a result of onboarding new profitable Client Relationships which continues to be our primary objective. This growth is supported by an outstanding Team of professionals who provide our Clients with exceptional service. Our net income, return on assets, return on equity and SBA gain on sale were up over the prior quarter as we focused on expense management amid tepid loan growth and an increasingly competitive credit market. Our discipline on pricing both in lending and deposits resulted in core NIM expansion.”