MetroCorp Bancshares Q2 Profit Rises - Quick Facts

7/19/2013 4:29 PM ET

MetroCorp Bancshares Inc. (MCBI: Quote) reported that its second-quarter net income applicable to common stock was $2.8 million, compared to $2.5 million in the year-ago period. Earnings per share for the quarter was $0.15, down from $0.16 in the comparable quarter last year.

On average, three analysts polled by Thomson Reuters expected the company to earn $0.15 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the latest second quarter was $12.98 million, down 4.9% compared with $13.65 million in the year-ago period, while total non-interest income rose 10.5% to $1.9 million from $1.8 million in the prior year quarter.

The decrease in net interest income was primarily due to a decline in the yield on loans, partially offset by lower cost of deposits.

Click here to receive FREE breaking news email alerts for MetroCorp Bancshares Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 167 Articles

Editors Pick

AMD Posts Narrower Loss

Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.

Stocks Close Mixed Following Lackluster Trading Day - U.S. Commentary

After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves.

Kerry: Agreement Reached On Plan To Defuse Ukraine Crisis

U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.