Revenue and profitability highlights:
- Revenue: $20,776,000
- Cost of revenue: $464,000
- Gross profit: $20,312,000; gross margin: 97.77%
- Operating income: $6,806,000; operating margin: 32.76%
- Net income: $5,309,000; net margin: 25.55%
- EBITDA: $6,806,000; EBITDA margin: 32.76%
- Interest expense: $1,952,000
- Income tax expense: $1,497,000
- Net income per share (EPS): $0.64; diluted EPS: $0.64; weighted average shares outstanding: 8,257,567 (basic), 8,322,124 (diluted)
YoY and QoQ comparisons (from incomeMetrics):
- Revenue: YoY -5.69%; QoQ +6.98%
- Gross profit: YoY +2.87%; QoQ not available
- Operating income: YoY -31.80%; QoQ +0.15%
- Net income: YoY -9.85%; QoQ +0.23%
- EPS: YoY -11.11%; QoQ +0.00%
Interpretation:
- The revenue decline YoY suggests a tougher top-line environment versus prior year, but QoQ strength indicates some seasonal or sequential improvement in business mix or volumes. The very high gross margin (nearly 98%) reflects a relatively small cost base relative to revenue, which is typical for a bank where cost of revenue is a modest component of operating activities in a limited-cost structure.
- Operating and net margins remain healthy for a small regional bank, with the operating margin well over 30% and net margin in the mid-20s. The YoY deterioration in earnings metrics points to potentially higher costs or lower revenue quality versus the prior-year period; however, the QoQ uptick in revenue and flat-to-largely stable EPS suggest the bank is managing costs effectively and benefiting from efficiency in the period.
Notes: The data set lacks balance sheet, liquidity, and cash flow details, which are essential for a complete assessment of financial health in a bank. The headline figures imply solid profitability but do not provide insight into capital adequacy, loan quality, or liquidity buffers.