Cardinal Financial Profit Rises

(RTTNews) - Cardinal Financial Corp (CFNL) on Wednesday reported second-quarter net earnings of $13.4 million or $0.40 per share compared with $8.4 million or $0.26 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

The company's net interest income for the quarter increased to $28.9 million from $26.9 million a year ago, and non interest income climbed to $15.7 million from $11.7 million.

Analysts estimated revenues of $41.1 million for the quarter.

Net interest margin was lower at 3.40% versus 3.63% last year.

Provision for loan losses rose to $1.4 million from $615 thousand in the prior year.