Spirit of Texas Bancshares Inc. (STXB) Tops Q3 EPS by 11c
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Spirit of Texas Bancshares, Inc. Reports Strong Third Quarter 2020 Financial Results
October 20, 2020 4:15 PM EDTCONROE, Texas, Oct. 20, 2020 /PRNewswire/ -- Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) ("Spirit", the "Company", "we", "our", or "us"), reported net income of $7.1 million in the third quarter of 2020, representing diluted earnings per share of $0.41, compared to net income of $5.3 million in the third quarter of 2019, representing diluted earnings per share of $0.34. Strong financial results for the third quarter of 2020 were assisted by $1.3 million net accretion of origination fees on Paycheck Protection Program ("PPP") loans offset by increased provision expense for potential loan losses related to the COVID-19 pandemic.
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