Reports Q3 net interest income increased approximately $0.1M or 0.2%, from $55.5M during the second quarter of 2023 to $55.6M during the third quarter of 2023. The Company’s tax equivalent net interest income increased $0.1M or 0.2%, from $55.8M for the second quarter of 2023 to $55.9M for the third quarter of 2023. Due to recent increases in the Federal Funds rate, net interest income increased by $2.6M due to an increase in loan yields (net of loan fees and accretion) of 22 basis points and by $0.8M due to an increase in the yield on investment securities of 19 basis points. ..The Company’s reported net interest margin increased from 4.00% for the second quarter of 2023 to 4.03% for the third quarter of 2023.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CHCO: