2023-07-24 16:53:26 ET
- Heartland BancCorp press release ( OTCQX:HLAN ): Q2 GAAP EPS of $2.39.
- Revenue of $18.43M.
- Provision for credit losses was $800,000, compared to $480,000 for the second quarter a year ago.
- Net interest margin was 3.61%, compared to 3.87% in the preceding quarter and 3.92% in the second quarter a year ago.
- Second quarter revenues (net interest income plus noninterest income) increased 13.9% to $18.4 million, compared to $16.2 million in the second quarter a year ago.
- Annualized return on average assets was 1.10%, unchanged compared to the second quarter of 2022.
- Annualized return on average tangible common equity was 14.19%, compared to 11.97% in the second quarter a year ago.
- Net loans increased $36.1 million during the quarter, or 2.5%, to $1.49 billion at June 30, 2023, compared to $1.45 billion three months earlier.
- Total deposits decreased $9.9 million during the quarter, or less than 1%, to $1.56 billion at June 30, 2023, compared to $1.57 billion three months earlier.
- Credit quality remains pristine, with nonperforming loans to gross loans of 0.14% and nonperforming assets to total assets of 0.12%, at June 30, 2023.
- Tangible book value was $68.54 per share, compared to $64.06 per share a year ago.
- Declared a quarterly cash dividend of $0.759 per share.
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Heartland BancCorp GAAP EPS of $2.39, revenue of $18.43M