Southwest Georgia Financial (SGB) Reports Q1 EPS of $0.42

Southwest Georgia Financial (NYSE: SGB) reported Q1 EPS of $0.42. Revenue for the quarter came in at $1.07 million, versus $0 reported last year.

First Quarter Income Highlights

• Net income increased to $1.1 million, or $0.42 per diluted share, up from $1.0 million, or $0.41 per diluted share, in the first quarter of 2016.
• Net interest income improved $172 thousand to $4.1 million, primarily due to increased loan volume.
• Higher net interest income and noninterest income were partially offset by a $173 thousand increase in noninterest expenses. Personnel and data processing expenses grew, primarily due to continued Valdosta and Tifton expansion and preparation for migration to a new core processing vendor.

For earnings history and earnings-related data on Southwest Georgia Financial (SGB) click here.

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