Cardinal Financial (CFNL) Tops Q1 EPS by 7c

Cardinal Financial (NASDAQ: CFNL) reported Q1 EPS of $0.39, $0.07 better than the analyst estimate of $0.32.

Selected Highlights

• Total assets of the Company grew to $4.07 billion, increasing 18% from March 31, 2015.
• Loans held for investment were $3.10 billion, also increasing 18% from a year ago.
• Customer deposits, including repurchase agreements, were $2.80 billion, increasing 19% from a year ago.
• The Company had $0 nonperforming assets and $0 past due loans 90 days or more and still accruing.
• Net interest margin increased 6 basis points to 3.31% for the first quarter 2016 from 3.25% for the fourth quarter 2015.
• Purchase money mortgage applications increased 30% to $1.02 billion compared to $787 million in the fourth quarter 2015.
• Overall mortgage application volume increased 41% in the quarter to $1.50 billion from $1.06 billion in the fourth quarter 2015.

For earnings history and earnings-related data on Cardinal Financial (CFNL) click here.

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