Consumers Bancorp Q1 net income $2.2M, EPS $0.72; loans up 3.9% annualized

CONSUMERS BANCORP INC /OH/

2024-Q1 EPS reported $0.72

Net income of $2.2M ($0.72 EPS) up 6.3% sequentially but down from $0.78 a year ago.
Net interest margin narrowed to 2.92% from 3.09% YoY; cost of funds rose to 2.56%.
Total loans increased $7.4M (annualized 3.9%); deposits up $25.9M (annualized 10.7%).
Non-performing loans 0.07% of total loans ex-government guarantees; ACL stable at 1.04%.
Shareholders' equity rose $9.6M to $73.3M, helped by $7.8M reduction in AOCI loss.

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