Forbright's Third-Quarter GAAP EPS Beats Estimates by $0.09 as Revenue Misses
Photo: TokenPost
Forbright, Inc. (FRBT) posted third-quarter GAAP earnings per share of $0.41, beating estimates by $0.09, while revenue came in below estimates as loan balances and digital deposits increased. Revenue totaled $89.06 million, missing estimates by $1.37 million. Loan balances rose 9.5% quarter over quarter and 24% year over year. Digital deposits increased by $1 billion from the previous quarter, with a promotion driving the growth. Core net charge-offs fell to three basis points in the quarter. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
