Allegiance Bancshares, Inc. (ABTX) Misses Q2 EPS by 6c

Allegiance Bancshares, Inc. (NASDAQ: ABTX) reported Q2 EPS of $0.40, $0.06 worse than the analyst estimate of $0.46.

"We are extremely proud to report another record quarter of high-quality organic loan production," commented George Martinez, Allegiance's Chairman and Chief Executive Officer. "Our linked second quarter core loan growth of $118.8 million represents an annualized increase of 24.7% and reflects the hard work and dedication of our talented team of legacy lenders who, in collaboration with our recently added lenders, continue to build strong relationships in the vibrant Houston market. At the same time, our asset quality continues to be solid with net charge-offs of 0.13%, which reflects our disciplined underwriting," continued Martinez.

"In addition to enhancing our lending team, we have hired key personnel to strengthen our infrastructure and support the operational and regulatory requirements applicable to a larger bank as we pursue our ambitious growth goals. While net income declined in the second quarter 2017 compared to the linked quarter, primarily due to an increased provision for loan loss expense as a result of robust loan growth and prior nonperforming credit relationships, we are pleased to see gains in both efficiency and pre-tax pre-provision earnings in our second quarter 2017 performance,” concluded Martinez.

For earnings history and earnings-related data on Allegiance Bancshares, Inc. (ABTX) click here.

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