New Orleans-based First NBC Bank Holding Co. reported its third-quarter earnings climbed to $17.7 million, or 95 cents per share, compared to $14 million, or 75 cents per share, a year ago.
The parent company of First NBC Bank easily beat Wall Street’s expectations. Stock analysts surveyed by Zacks Investment Research had forecast earnings of 82 cents per share.
First NBC Bank Holding’s profit was aided by a $1 million, or 3.7 percent, increase in net interest income over the third quarter of 2014. The company’s results were also boosted by a $1.5 million gain on the sale of a portion of its interest in a Federal Historic Rehabilitation tax credit project.