Overview

* First Commerce Bank ( CMRB ) Q3 net income rises 84.4% yr/yr to $2.1 mln

* Net interest income for Q3 increases 29.7% yr/yr to $10.8 mln

* Book value per share rises to $8.63, supported by stock repurchase plan

Outlook

* Company highlights potential economic headwinds due to geopolitical uncertainties

* First Commerce Bank ( CMRB ) committed to strategic execution despite uncertainties

Result Drivers

* BALANCE SHEET GROWTH - Co attributes increased net income to balance sheet growth and strategic capital deployment

* HIGHER YIELDING INVESTMENTS - Co leveraged excess capital by investing in higher yielding investment securities

* DEPOSIT AND FUNDING STRATEGY - Asset growth funded by retail deposit growth and wholesale funding, offset by decrease in brokered deposits

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $2.10

Income mln

Q3 Net $10.85

Interest mln

Income

Q3 Net 2.61%

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.)