Cardinal Financial Corporation (CFNL) has reported 5.28 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $12.38 million, or $0.36 a share in the quarter, compared with $13.07 million, or $0.39 a share for the same period last year.
Revenue during the quarter went down marginally by 1.81 percent to $44.90 million from $45.72 million in the previous year period. Net interest income for the quarter rose 3.64 percent over the prior year period to $31.82 million. Non-interest income for the quarter fell 9.25 percent over the last year period to $13.86 million.
Cardinal Financial Corporation has made provision of $0.78 million for loan losses during the quarter, up 214 percent from $0.25 million in the same period last year.
Net interest margin was at 3.30 percent in the quarter.
Deposits stood at $3,420.97 million as on Mar. 31, 2017, up 8.77 percent compared with $3,145.03 million on Mar. 31, 2016.
Noninterest-bearing deposit liabilities were $761.52 million or 22.26 percent of total deposits on Mar. 31, 2017, compared with $687.49 million or 21.86 percent of total deposits on Mar. 31, 2016.
Investments stood at $409.67 million as on Mar. 31, 2017, down 6.34 percent or $27.75 million from year-ago. Shareholders equity was at $461.78 million as on Mar. 31, 2017.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
