Overview

* American Business Bank ( AMBZ ) Q3 net income rises 9% qtr/qtr to $14.3 mln

* Net interest margin expands to 3.66% from 3.58% in prior quarter

* Core deposits increase $169 mln, up 5% over prior quarter

Outlook

* American Business Bank ( AMBZ ) did not provide specific financial guidance for future quarters

Result Drivers

* NET INTEREST INCOME - Growth in loans with higher interest rates and decreased deposit costs drove net interest income increase

* CORE DEPOSIT GROWTH - Core deposits rose by $169 mln, mainly from existing customers, aiding financial performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $14.30

Income mln

Q3 Net $39.80

Interest mln

Income

Q3 Net 3.66%

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.)