Overview

* Affinity Bancshares ( AFBI ) Q3 net income rises to $2.2 mln from $1.7 mln year-over-year

* Company's Q3 net interest income increases to $7.8 mln from $7.4 mln year-over-year

* Net interest margin for Q3 decreases to 3.49% from 3.52% year-over-year

Outlook

* Company did not provide specific guidance for future quarters or full year in press release

Result Drivers

* NET INTEREST INCOME - Increase in net interest income due to higher interest income on loans and deposits, partially offset by higher deposit costs

* NONINTEREST EXPENSES - Decrease in noninterest expenses mainly due to lower other fees

* LOAN GROWTH - Steady demand in construction, consumer, and commercial real estate loans

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.34

Q3 Net $2.21

Income mln

Q3 Net $7.77

Interest mln

Income

Q3 Net 3.49%

Interest

Margin

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)