Reliant Bancorp, Inc. (RBNC) Tops Q1 EPS by 5c

Reliant Bancorp, Inc. (NASDAQ: RBNC) reported Q1 EPS of $0.73, $0.05 better than the analyst estimate of $0.68.

DeVan Ard, Jr., Reliant Bancorp\'s Chairman and CEO stated, “I am very pleased with our first quarter earnings, which were driven by a strong and improving net interest margin, superior asset quality, and good expense control. Nashville’s economy also started showing signs of a robust recovery late in the quarter as evidenced by a significant increase in loan demand.”

Ard continued, “Our team delivered another outstanding quarter. Loan production topped $253.6 million, a 69% increase over the first quarter of 2020, and many of those loans will fund throughout 2021. Deposit growth was also strong. Balances in non-time deposits - checking, savings, and money market deposits - grew 8.1%, or 32.7% annualized, during the first quarter, a tribute to the effort by our team to build lasting relationships with our customers. We also continued to build shareholder value. Our book value and tangible book value per share increased 3.1% and 4.0%, respectively, from the prior quarter, or 12.4% and 16.1%, respectively, when annualized. Reliant\'s board also voted to increase our cash dividend per share by 20.0%.”

For earnings history and earnings-related data on Reliant Bancorp, Inc. (RBNC) click here.

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