Consumers Bancorp Q1 net income $2.7M, up 11% YoY; completed branch acquisition in July

CONSUMERS BANCORP INC /OH/

2021-Q1 EPS reported $0.88

Net income $2.7M ($0.88 EPS) vs $2.4M ($0.80 EPS) prior year; net interest income up 19.1% to $1.3M.
Acquired two Ohio branches from CFBank on July 16: $104.5M deposits, $19.9M loans, $1.6M goodwill.
Total loans grew 7.5% annualized; PPP loans declined $21.2M offset by organic growth and acquired loans.
Non-performing loans remained low at 0.32% of total loans; ALLL to loans ratio 1.16%.
Total deposits increased $122.3M (67.3% annualized) including $104.5M from branch acquisition.

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