Great Western Bancorp (GWB) Misses Q2 EPS by 2c

Great Western Bancorp (NYSE: GWB) reported Q2 EPS of $0.60, $0.02 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $106.34 million versus the consensus estimate of $115.12 million.

Business Outlook

"We made some significant progress during the quarter managing through some of our more challenging agriculture loan relationships, which included recognizing charge-offs on a number of relationships with specific reserves that we had previously identified as problems,\" added Karels. "We also managed a number of weaker agriculture relationships out of the bank, which we believe is best for the long-term health of the Company but also led to lower loan growth for the quarter. We are starting to see more activity in our loan pipeline and remain confident we can deliver mid-single-digit loan growth for the full year, which will be supported by the great deposit growth we delivered this quarter."

For earnings history and earnings-related data on Great Western Bancorp (GWB) click here.

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