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Update: Great Western Bancorp Confirms The Bull Thesis With FQ1 Earnings

Great Western Bancorp (GWB) posted yet another solid quarter and further solidified its place as one of the most attractive regional banks available. GWB remains growing balance sheet metrics at a quick pace, showing excelling defense of net interest margin, and continues to manage its loan book risk with flexible increases and decreases to risk adjusted segments.

GWB reported the following in its FQ1/15 PR:

  • TTM loan growth of 7.6%
  • TTM 7 bps deposit growth - non-interest bearing deposits comprised 19% of total deposits, up 70 bps TTM
  • Loan composition changes included ((TTM)): added 6.4% to agricultural loan exposure while reducing construction and development exposure 9.1%, grew non-owner occupied CRE 12% while growing multi-family real estate 17.8%, grew CRE 4% while reducing consumer loans 4%
  • First quarter net income was $26.7 million, or $0.46 per share
  • Noninterest expense management drove an efficiency ratio of 48.5% for the quarter
  • Total