Guaranty Bancorp (GBNK), Wednesday reported a decline in first-quarter net income to $2.3 million or $0.02 per share from $2.9 million or $0.03 per share last year.
On average, five analysts polled by Thomson Reuters estimated earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter edged up to $15.4 million from $15.3 million a year ago. Net interest margin slid to 3.61% from 3.93%, reflecting decline in yield on earnings assets.
Non interest income for the quarter was lower at $2.95 million, compared to $3.01 million last year.
Analysts on consensus estimated total revenues of $18.46 million for the quarter.
Provision for loan losses for the quarter was nil, compared to $1 million a year ago.
Non interest expense meanwhile escalated to $15.2 million from $14.5 million in the prior year.
For comments and feedback: editorial@rttnews.com