KS Bancorp Reports Q1 GAAP Earnings Per Share of $2.57
KS Bancorp reported first-half GAAP earnings per share (EPS) of $2.57, driven by strong performance across key financial metrics. Revenue reached $9.31 million, with net interest income before the provision rising 19.1% year-over-year to $8.2 million. Net income also increased significantly, up 26.1% from a year ago to $5.4 million. The company's balance sheet showed growth in total assets and loan portfolios. Total assets rose by 6.4%, reaching $875.5 million as of December 31, while net loans grew by 7.5% to $714.3 million during the same period. Deposits also increased slightly, rising 4.6% year-over-year to $784.1 million. The results reflect a strong operational performance and suggest continued confidence in KS Bancorp's financial stability.
