2023-04-24 16:26:13 ET
- Heartland BancCorp press release ( OTCQX:HLAN ): Q1 GAAP EPS of $2.19.
- Revenue of $17.9M (-2.3% Y/Y).
- Provision for loan losses was $750,000, compared to $480,000 for the first quarter a year ago.
- Net interest margin was 3.87%, compared to 4.13% in the preceding quarter and 3.83% in the first quarter a year ago.
- Net loans increased $64.3 million during the quarter, or 4.6%, to $1.45 billion at March 31, 2023, compared to $1.39 billion three months earlier.
- Total deposits increased $111.4 million during the quarter, or 7.6%, to $1.57 billion at March 31, 2023, compared to $1.46 billion three months earlier.
- Credit quality remains pristine, with nonperforming loans to gross loans of 0.09% and nonperforming assets to total assets of 0.07%, at March 31, 2023.
- Tangible book value was $67.09 per share, compared to $66.92 per share a year ago.
- Declared a quarterly cash dividend of $0.759 per share.
- Total assets increased 21.3% to $1.77 billion at March 31, 2023, compared to $1.45 billion a year earlier, and increased 6.1% compared to $1.66 billion three months earlier.
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Heartland BancCorp GAAP EPS of $2.19, revenue of $17.9M