Reliant Bancorp, Inc. (RBNC) Tops Q3 EPS by 23c
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Reliant Bancorp, Inc. (NASDAQ: RBNC) reported Q3 EPS of $0.69, $0.23 better than the analyst estimate of $0.46.
DeVan Ard Jr., Reliant Bancorp's Chairman and CEO stated, “I am very proud of the value our team has been able to build for shareholders and the service they have provided to our community despite the many economic and operating challenges presented by the COVID-19 pandemic. Third quarter 2020 net interest income increased 1.9% over the second quarter of 2020 as improvement in our funding costs offset a modest drop in loan yields. Gross loans grew organically at a 1.8% pace for the quarter or 7.0% annualized, a strong pace given the current environment. Our credit quality continues to be a source of strength as well, with no net charge-offs reported for the quarter and a decrease in nonperforming assets of 15.9% compared to the prior quarter. We provided additional reserves for potential COVID-19-related risks, but at a lower level than in the prior two quarters.”
For earnings history and earnings-related data on Reliant Bancorp, Inc. (RBNC) click here.
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