Jeffersonville Bancorp Q2 profit rises to $0.79 per share
Regional lender Jeffersonville Bancorp posts second-quarter earnings of $0.79 per share, beating analyst estimates.
Jeffersonville Bancorp reported second-quarter earnings of $0.79 per share on Tuesday, exceeding market expectations.
The community bank, which operates primarily in the northeastern United States, said net income rose to $12.4 million in the three months ended June 30, up from $10.8 million in the same period last year. Earnings per share increased 12% year-over-year.
Analysts polled by Refinitiv had forecast average earnings of $0.75 per share for the quarter. Revenue totaled $34.2 million, in line with the prior-year period.
Jeffersonville Bancorp attributed the earnings growth to higher net interest income, driven by increased loan demand and a steeper yield curve. The bank’s net interest margin expanded to 3.45% from 3.20% in Q2 2023.
Loan growth accelerated to 4% year-over-year, while deposits increased 3%, reflecting stable core funding. The bank maintained its dividend at $0.20 per share, unchanged from the previous quarter.
Shares of Jeffersonville Bancorp were up 1.5% in premarket trading following the results.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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