Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Bad
|
New words:
acknowledge, ago, central, Chairman, conflict, cut, depreciation, DIF, downside, exceeding, expenditure, explained, fine, hamper, hanging, hiking, hitting, infinitesimal, Jersey, larger, nonmanufacturing, PCE, personal, pickup, Powell, program, pull, SEP, softened, southern, traffic, weakened
Removed:
BBB, bit, carry, edged, geographic, intermediate, location, population, township, turn
Financial report summary
?Management Discussion
- Net income for the three and nine month periods ended September 30, 2019 was $2.9 million and $8.0 million, or $0.66 and $1.86 per diluted share, respectively, compared to $3.0 million and $7.7 million, or $0.70 and $1.78 per diluted share, for the same period in 2018. The $150,000 decrease in net income in the third quarter of 2019 compared to the third quarter of 2018 was primarily attributable to a $225,000 increase in provision for credit losses and a $126,000 increase in income tax expense, offset by a $112,000 increase in non-interest income, a $52,000 increase in net interest income before provision (primarily due to increased interest income on loans), and a $37,000 decrease in non-interest expense (primarily due to decreased FDIC insurance expense and decreased salaries and employee benefits). The $362,000 increase in net income during the nine month period ended September 30, 2019 compared to the nine month period ended September 30, 2018 was primarily attributable to a $870,000 increase in net interest income before provision (primarily due to increased interest income on loans), a $225,000 decrease in provision for credit loss, and a $125,000 increase in non-interest income, offset by a $483,000 increase in non-interest expense (primarily due to $881,000 of transaction costs related to the pending merger with S&T) and a $375,000 increase in income tax expense.