WINNEBAGO, Ill., July 15, 2026 (GLOBE NEWSWIRE) -- Foresight Financial Group, Inc. (OTCQX: FGFH) reported net income of $4.38 million for the quarter ended June 30, 2026, a 47% increase compared to $2.99 million reported for the second quarter of 2025 and a 13% increase compared to $3.89 million reported for the first quarter of 2026. Diluted earnings per share were $1.20 for the quarter compared to $0.82 for the second quarter of 2025 and $1.07 for the first quarter of 2026. The second quarter results produced a return on average assets and return on average equity of 1.04% and 10.07%.
Net income for the first six months of 2026 was $8.27 million, up 122% from $3.72 million for the same period in 2025. Diluted earnings per share for the first half were $2.27, compared with $1.03 in the prior year period. The first half 2026 results produced a return on average assets and return on average equity of 1.00% and 9.60%, respectively.
The earnings growth for the first half of 2026 compared to the prior year period was driven by margin expansion, lower credit costs and reduced non-interest expense, which was partially offset by a decrease in non-interest income. The decrease in non-interest income was due to $1.2 million of non-recurring revenue in the prior year period related to a debit card branding agreement. The reduction in non-interest expenses was also related to non-recurring items in the prior year period, including a $1.96 million impairment charge on a nonmarketable equity investment and $1.88 million of expenses directly related to the charter consolidation initiative.
"We are pleased with the continued momentum recognized during the second quarter," said Peter Morrison, Chief Executive Officer. "The strategic initiatives completed during the past year are producing measurable results, including stronger profitability, improved operating efficiency and increased shareholder value."
Net interest income increased to $14.92 million for the quarter ended June 30, 2026, compared to $12.95 million for the second quarter of 2025 and $14.34 million for the first quarter of 2026. The tax-equivalent net interest margin for the second quarter of 2026 expanded to 3.69%, compared to 3.33% in the prior-year quarter and 3.65% in the linked quarter.
For the first six months of 2026, net interest income increased $4.05 million, or 16.1%, to $29.26 million compared to $25.21 million for the first six months of 2025. The taxable equivalent net interest margin expanded to 3.67%, compared to 3.29% in the prior year period.
The growth in net interest income and improvement of the net interest margin for both the second quarter and first half of 2026 was driven primarily by strong deposit growth and a lower cost of deposits compared to the prior year periods. The rate on average interest-bearing deposits decreased by thirty-eight basis points to 2.17% for the first half of 2026 as compared to 2.55% for the first half of 2025. Average total deposits increased by $63.9 million, or 4.6%, to $1.449 billion for the first half of 2026 compared to $1.385 billion in the prior year period. The tax-equivalent yield on average total earning assets increased by ten basis points to 5.35% for the first half of 2026 as compared to the prior year period. Average total loans for the first half increased by $13.9 million to $1.124 billion as compared to $1.110 billion in the first half of the prior year, with the additional liquidity generated by the deposit growth being deployed in investment securities. Average total investment securities for the first half of 2026 increased by $48.6 million as compared to the prior year period, with the yield on investment securities increasing by forty-four basis points.
The provision for credit losses totaled $524 thousand during the second quarter of 2026, compared to $238 thousand in the second quarter of 2025 and $561 thousand in the first quarter of 2026. For the six months ended June 30, 2026 the provision for loan losses totaled $1.08 million, a $451 thousand, or 29%, decrease as compared to the first six months of the prior year.
Asset quality remained solid, with nonperforming assets totaling $16.9 million, or 0.98% of total assets, as of June 30, 2026 as compared to $28.29 million, or 1.76% of total assets, on June 30, 2025, and $16.08 million, 0.91% of total assets as of March 31, 2026.
Noninterest income totaled $2.33 million for the quarter, a $674 thousand decrease compared to $3.00 million in the second quarter of 2025. The decline was due to $1.20 million of non-recurring revenue received in the second quarter of the prior year related to a debit card branding agreement, which was partially offset by a $231 thousand increase in net loan servicing fees due to changes in the fair value of the mortgage servicing asset. In addition, card interchange fees increased by $114 thousand in the quarter compared to the second quarter of 2025, reflecting revenue from the recently implemented proprietary corporate card program.
Non-interest income totaled $4.21 million for the first six months of 2026, compared to $4.95 million for the first six months of 2025, primarily due to $1.2 million of non-recurring revenue recognized in the prior period and a $102 thousand decrease in net loan servicing fees due to valuation fluctuations of the mortgage servicing asset. These decreases were partially offset by a $141 thousand increase in deposit service fees and a $172 thousand increase in card interchange revenue, reflecting the Company's initiatives to grow core non-interest revenue.
Noninterest expense totaled $10.86 million for the quarter ended June 30, 2026, decreasing by $1.09 million compared to $11.95 million for the second quarter of 2025. The decrease was due to $1.56 million in non-recurring expenses realized in the second quarter of 2025 related to the charter consolidation initiative. This decrease was partially offset by a $304 thousand, or 4.7% increase in salaries and benefits.
Non-interest expense for the first half of 2026 declined by $2.75 million, or 11.4%, to $21.38 million compared to $24.13 million in the first six months of the prior year, reflecting the absence of non-recurring expenses incurred in the prior period, including $1.88 million related to the charter consolidation initiative and a $1.96 impairment charge on a nonmarketable equity investment. These decreases were partially offset by a $689 thousand, or 5.5% increase in salaries and employee benefits.
The Company's efficiency ratio for the second quarter improved to 62.3%, compared to 73.6% in the prior-year quarter and 64.1% in the linked quarter. The efficiency ratio for the six months ended June 30, 2026 improved to 63.2% compared to 78.6% for the first half of the prior year.
The closing price for the Company's common stock was $48.04 on June 30, 2026, a 54% increase over the closing price of $31.13 on June 30, 2025. Tangible book value per share increased to $48.48 as of June 30, 2026, compared to $44.37 on June 30, 2025 and $47.95 on March 31, 2026. Excluding accumulated other comprehensive income, tangible book value per share increased to $54.91 as of June 30, 2026 compared to $52.43 on June 30, 2025 and $53.98 on March 31, 2026.
About Foresight Financial Group, Inc.
Foresight Financial Group, Inc. is the largest bank holding company headquartered in Winnebago County, Illinois and is the parent company of Foresight Bank, which has offices in the Illinois counties of Winnebago, Stephenson and Kankakee. Foresight Bank was formed through the legal consolidation of six long-standing community bank subsidiaries of Foresight Financial Group, including German American State Bank, State Bank of Davis, Northwest Bank of Rockford, State Bank (Freeport), Lena State Bank, and State Bank of Herscher. Foresight's common stock is traded on the "OTCQX" market under the trading symbol FGFH.
Forward-Looking Statements
When used in this communication, the words "believes," "expects," "likely", "would", and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company's markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of "critical accounting policies"; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.
FOR INFORMATION CONTACT:
Peter Morrison Todd James
Chief Executive Officer Chief Financial Officer
(815) 847-7500 (815) 847-7500
Consolidated Balance Sheets
(Unaudited) June 30, December 31,
2026 2025
Assets (in thousands, except per share data)
Cash and due from banks $ 18,419 $ 15,844
Interest-bearing deposits
in banks 46,830 11,254
Federal funds sold 1,288 775
---------------- ---------------
Total cash and cash
equivalents 66,537 27,873
---------------- ---------------
Debt Securities:
Available-for-sale (AFS) 459,322 428,688
Held-to-maturity $(HTM)$ 2,378 2,378
Marketable equity
securities and other
investments 4,436 4,427
Loans held for sale 441 1,549
Loans, net of allowance for
credit losses 1,103,191 1,127,617
Premises and equipment, net 17,604 17,855
Bank owned life insurance 25,323 24,979
Other assets 33,265 33,281
---------------- ---------------
Total assets $ 1,712,497 $ 1,668,647
================ ===============
Liabilities and
Stockholders' Equity
Deposits
Noninterest-bearing $ 233,195 $ 219,275
Interest-bearing 1,251,414 1,209,276
---------------- ---------------
Total deposits 1,484,609 1,428,551
Federal funds purchased - -
Securities sold under
agreements to repurchase - -
Federal Home Loan Bank
(FHLB) and other
borrowings 33,477 53,429
Accrued interest payable
and other liabilities 19,064 16,405
Total liabilities 1,537,150 1,498,385
---------------- ---------------
Preferred stock -
Common stock 1,065 1,063
Additional paid-in capital 16,937 16,720
Retained earnings 196,620 189,941
Treasury stock, at cost (16,013) (16,013)
Accumulated other
comprehensive loss (23,262) (21,449)
Total stockholders'
equity 175,347 170,262
---------------- ---------------
Total liabilities and
stockholders'
equity $ 1,712,497 $ 1,668,647
================ ===============
Consolidated Statements of
Income
(Unaudited) Six Months Ended June 30,
2026 2025
(in thousands, except per share data)
Interest and dividend income:
Interest and fees on loans $ 35,553 $ 34,657
Interest on investment
securities 6,737 4,985
Interest on fed funds sold
and other deposits 499 817
Total interest income 42,789 40,459
--- --------------- --- --------------
Interest expense:
Deposits 12,992 14,464
Federal funds purchased 1 2
FHLB and other borrowings 536 780
Total interest expense 13,529 15,246
--- --------------- --- --------------
Net interest income 29,260 25,213
Provision for credit losses 1,085 1,536
--- --------------- --- --------------
Net interest and
dividend income,
after provision for
credit losses 28,175 23,677
Noninterest income:
Customer service fees 1,034 893
Net securities gains
(losses) (44) -
Gain on sale of loans, net 229 163
Loan servicing fees, net 433 535
Bank owned life insurance 344 334
Card interchange fees 1,222 1,050
Other 992 1,971
Total noninterest income 4,210 4,946
--- --------------- --- --------------
Noninterest expenses:
Salaries and employee
benefits 13,299 12,610
Occupancy expense of
premises, net 1,560 1,407
Outside services 775 1,088
Data processing 2,755 2,614
Other 2,990 6,410
Total noninterest
expenses 21,379 24,129
--- --------------- --- --------------
Income before income taxes 11,006 4,494
Income tax expense 2,739 772
--- --------------- --- --------------
Net income $ 8,267 $ 3,722
=== =============== === ==============
Earnings per common share:
Basic $ 2.29 $ 1.03
Diluted $ 2.27 $ 1.03
Consolidated
Statements of
Income
(Unaudited) For the Quarter Ended
---------------------------------------------------
June March December September June
30, 31, 31, 30, 30,
2026 2026 2025 2025 2025
------- -------- ---------- ----------- -------
Interest and
dividend
income: (in thousands, except per share data)
Interest and
fees on
loans $17,885 $17,668 $ 18,343 $ 17,893 $17,739
Interest on
investment
securities 3,504 3,233 2,983 2,447 2,394
Interest on
fed funds
sold and
other
deposits 331 168 417 150 285
------ ------ ------ ------- ------
Total
interest
income 21,720 21,069 21,743 20,490 20,418
Interest
expense:
Deposits 6,550 6,442 7,158 6,930 7,099
Federal funds
purchased - 1 - 4 -
FHLB and
other
borrowings 248 288 282 398 370
Total
interest
expense 6,798 6,731 7,440 7,332 7,469
------ ------ ------ ------- ------
Net interest
income 14,922 14,338 14,303 13,158 12,949
Provision for
credit losses 524 561 772 372 238
------ ------ ------ ------- ------
Net interest
income after
provision for
loan losses 14,398 13,777 13,531 12,786 12,711
Noninterest
income:
Customer
service
fees 537 497 445 424 551
Net
securities
gains
(losses) - (44) - - -
Gain on sale
of loans,
net 100 129 81 79 26
Loan
servicing
fees, net 457 (24) 108 106 226
Bank owned
life
insurance 179 165 167 166 177
Card
interchange
fees 669 553 581 605 555
Other 387 605 389 404 1,468
Total
noninterest
income 2,329 1,881 1,771 1,784 3,003
------ ------ ------ ------- ------
Noninterest
expenses:
Salaries and
employee
benefits 6,712 6,587 6,613 6,808 6,408
Occupancy
expense of
premises,
net 809 751 795 775 772
Outside
services 424 351 409 615 422
Data
processing 1,438 1,317 1,330 1,407 1,403
Other 1,480 1,510 2,722 2,751 2,943
Total
noninterest
expenses 10,863 10,516 11,869 12,356 11,948
------ ------ ------ ------- ------
Income before
income taxes 5,864 5,142 3,433 2,214 3,766
Income tax
expense 1,486 1,253 889 612 779
------ ------ ------ ------- ------
Net income $ 4,378 $ 3,889 $ 2,544 $ 1,602 $ 2,987
====== ====== ====== ======= ======
Earnings per
common share:
Basic $ 1.21 $ 1.08 $ 0.71 $ 0.44 $ 0.83
Diluted $ 1.20 $ 1.07 $ 0.70 $ 0.44 $ 0.82
Consolidated Balance
Sheets
(Unaudited) As of
December September
June 30 March 31, 31, 30, June 30,
2026 2026 2025 2025 2025
Assets (in thousands)
Cash and due from banks $ 18,419 $ 18,696 $ 15,844 $ 19,601 $ 28,002
Interest-bearing
deposits in banks 46,830 118,000 11,254 26,994 13,025
Federal funds sold 1,288 3,900 775 1,989 3,046
Total cash and
cash equivalents 66,537 140,596 27,873 48,584 44,073
--------- --------- --------- --------- ---------
Debt securities:
Debt securities
available-for-sale
(AFS) 459,322 426,198 428,688 369,287 361,146
Debt securities
held-to-maturity
(HTM) 2,378 2,378 2,378 2,741 3,263
Marketable equity
securities and other
investments 4,436 4,420 4,427 5,545 5,446
Loans held for sale 441 352 1,549 - 480
Loans, net of allowance
for credit losses 1,103,191 1,113,139 1,127,617 1,123,376 1,116,498
Premises and equipment,
net 17,604 17,622 17,855 18,054 16,889
Bank owned life
insurance 25,323 25,144 24,979 24,812 24,646
Other assets 33,265 32,840 33,281 36,373 38,573
Total assets $1,712,497 $1,762,689 $1,668,647 $1,628,772 $1,611,014
========= ========= ========= ========= =========
Liabilities and
Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing $ 233,195 $ 226,404 $ 219,275 $ 241,473 $ 247,002
Interest-bearing 1,251,414 1,312,249 1,209,276 1,140,725 1,136,961
Total deposits 1,484,609 1,538,653 1,428,551 1,382,198 1,383,963
Federal funds
purchased - - - - -
Securities sold under
agreements to
repurchase - - - 26,354 12,466
Federal Home Loan Bank
(FHLB) and other
borrowings 33,477 36,668 53,429 37,662 39,889
Accrued interest
payable and other
liabilities 19,064 14,302 16,405 15,666 14,737
Total liabilities 1,537,150 1,589,623 1,498,385 1,461,880 1,451,055
--------- --------- --------- --------- ---------
Stockholders' equity:
Preferred stock - - - -
Common stock 1,065 1,063 1,063 1,063 1,062
Additional paid-in
capital 16,937 16,734 16,720 16,716 16,704
Retained earnings 196,620 193,037 189,941 188,119 187,237
Treasury stock, at
cost (16,013) (16,013) (16,013) (16,013) (16,013)
Accumulated other
comprehensive loss (23,262) (21,755) (21,449) (22,992) (29,031)
Total
stockholders'
equity 175,347 173,066 170,262 166,892 159,959
--------- --------- --------- --------- ---------
Total liabilities
and stockholders'
equity $1,712,497 $1,762,689 $1,668,647 $1,628,772 $1,611,014
========= ========= ========= ========= =========
SELECTED FINANCIAL DATA (Unaudited)
The following table outlines selected financial
data as of and for the:
(in thousands, except per share
amounts and ratios)
Three Months Ended Six Months Ended
------------------------------------------------------------------------------ ------------------------------
Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Jun 30, Jun 30,
2026 2026 2025 2025 2025 2026 2025
PER COMMON
SHARE
Basic earnings $ 1.21 $ 1.08 $ 0.71 $ 0.44 $ 0.83 $ 2.29 $ 0.20
Diluted
earnings 1.20 1.07 0.70 0.44 0.82 2.27 0.20
Dividends 0.22 0.22 0.20 0.20 0.20 0.44 0.20
Book value 48.52 47.99 47.21 46.28 44.41 48.52 44.41
Tangible book
value 48.48 47.95 47.18 46.24 44.37 48.48 44.37
Tangible book
value,
excluding
AOCI 54.91 53.98 53.12 52.62 52.43 54.91 52.43
End of period
shares
outstanding 3,614,260 3,606,428 3,606,123 3,606,123 3,606,087 3,614,260 3,606,087
Average number
of shares
outstanding 3,614,153 3,606,425 3,606,119 3,606,119 3,606,137 3,610,310 3,602,112
Market price 48.04 45.99 41.78 32.48 31.13 48.04 31.13
PERFORMANCE
RATIOS
Return on
average
assets 1.04% 0.95% 0.60% 0.40% 0.75% 1.00% 0.47%
Return on
average
equity 10.07% 9.13% 5.96% 3.90% 7.60% 9.60% 4.80%
Net interest
margin, tax
equivalent 3.69% 3.65% 3.52% 3.41% 3.33% 3.67% 3.29%
Efficiency
ratio, tax
equivalent 62.29% 64.12% 73.32% 81.23% 73.61% 63.2% 78.57%
Loan to deposit
ratio 75.21% 73.11% 79.91% 82.26% 81.66% 75.21% 81.66%
ASSET QUALITY
DATA
Nonaccrual
loans 16,589 14,409 14,937 25,452 25,939 16,589 25,939
Accruing loans
90+ days past
due 249 1,662 373 1,967 688 249 688
--------- --------- --------- --------- --------- --------- ---------
Total
non-performing
loans 16,838 16,071 15,310 27,419 26,627 16,838 26,627
Foreclosed
assets 25 7 - 56 703 25 703
Impaired other
investments - - - 961 961 - 961
--------- --------- --------- --------- --------- --------- ---------
Total
non-performing
assets 16,863 16,078 15,310 28,436 28,291 16,863 28,291
========= ========= ========= ========= ========= ========= =========
Total loans
held for
investment 1,116,178 1,126,264 1,140,600 1,137,006 1,129,719 1,116,178 1,129,719
Allowance for
credit losses 12,987 13,125 12,983 13,630 13,626 12,987 13,626
--------- --------- --------- --------- --------- --------- ---------
Loans, net of
ACL 1,103,191 1,113,139 1,127,617 1,123,376 1,116,498 1,103,191 1,116,498
--------- --------- --------- --------- --------- --------- ---------
Nonperforming
assets to
total assets 0.98% 0.91% 0.92% 1.75% 1.76% 0.98% 1.76%
Nonperforming
loans to total
loans 1.51% 1.43% 1.34% 2.41% 2.36% 1.51% 2.36%
Allowance to
total loans 1.16% 1.17% 1.14% 1.20% 1.21% 1.16% 1.21%
Allowance to
nonperforming
loans 77.13% 81.67% 84.80% 49.71% 51.17% 77.13% 51.17%
ALLOWANCE FOR
CREDIT LOSSES
ACTIVITY
Beginning of
period
balance 13,125 12,983 13,630 13,626 16,092 12,983 14,694
Provision for
loan losses 524 561 772 372 238 1,085 1,536
Provision for
unfunded
commitments (412) (120) (14) (5) 224 (532) 334
Charge-offs (285) (342) (1,594) (373) (2,958) (627) (3,032)
Recoveries 35 43 189 10 30 78 94
--------- --------- --------- --------- --------- ---------
Ending of
period
balance 12,987 13,125 12,983 13,630 13,626 12,987 13,626
--------- --------- --------- --------- --------- --------- ---------
Analysis of Average Balances and Tax Equivalent Interest
Rates
(dollars in thousands)
For the Quarters Ended(Dollars in thousands-unaudited)
------------------------------------------------------------------------------------------------------------
June 30, 2026 March 31, 2026 June 30, 2025
---------------------------------- ---------------------------------- ------------------------------------
Average Interest Average Average Interest Average Average Interest Average
Balance (1) Rate (1) Balance (1) Rate (1) Balance (1) Rate (1)
----------- ---------- --------- ----------- ---------- --------- ----------- ---------- -----------
Interest Earning
Assets:
Interest bearing
deposits and other $ 32,009 $ 331 4.15% $ 15,680 $ 167 4.33% $ 12,712 $ 223 7.05%
Investment securities 481,728 3,602 3.00% 463,514 3,332 2.92% 441,109 2,581 2.35%
Loans 1,119,935 17,901 6.41% 1,127,837 17,683 6.36% 1,120,619 17,738 6.35%
Total Earning Assets $1,633,672 $ 21,835 5.36% $1,607,031 $ 21,182 5.35% $1,574,440 $ 20,542 5.23%
--------- ------ ----- --------- ------ ----- --------- ------ ---- ----
Allowance for credit
losses (13,328) (13,128) (16,112)
Cash and due from banks 20,646 21,048 28,640
Other assets 43,945 47,172 14,452
Total Assets $1,684,935 $1,662,123 $1,601,420
========= ========= =========
Interest Bearing
Liabilities:
Interest bearing
checking accounts $ 213,820 $ 588 1.10% $ 204,135 $ 528 1.05% $ 249,836 $ 1,055 1.69%
Savings and money
market deposits 536,490 2,369 1.77% 515,375 2,216 1.74% 406,685 1,728 1.70%
Time deposits 472,878 3,593 3.05% 477,354 3,699 3.14% 473,023 4,331 3.67%
--------- ------ ----- --------- ------ ----- --------- ------ ---- ----
Total interest bearing
deposits 1,223,188 6,550 2.15% 1,196,864 6,442 2.18% 1,129,544 7,114 2.53%
Borrowings 34,649 247 2.86% 38,918 289 3.01% 57,816 370 2.57%
--------- ------ --------- ------ --------- ------
Total Interest Bearing
Liabilities $1,257,837 $ 6,797 2.17% $1,235,782 $ 6,731 2.21% $1,187,360 $ 7,484 2.53%
--------- ------ ----- --------- ------ ----- --------- ------ ---- ----
Interest Rate Spread 3.19% 3.14% 2.71%
===== ===== ==== ====
Noninterest bearing
checking accounts 239,120 237,825 242,185
Other liabilities 13,554 15,652 14,152
Total liabilities 1,510,511 1,489,259 1,443,697
--------- --------- ---------
Total stockholders'
equity 174,424 172,864 157,723
---------
Total Liabilities and
Stockholders' Equity $1,684,935 $1,662,123 $1,601,420
========= ========= =========
Net Interest
Income/Margin $ 15,037 3.69% $ 14,451 3.65% $ 13,059 3.33%
====== ===== ====== ===== ====== ==== ====
(1) Management discloses certain non-GAAP financial
measures to evaluate and measure the Company's performance,
including a
presentation of net interest income with a net interest
margin on a tax-equivalent$(TE)$ basis. Net interest
margin is calculated by dividing net
interest income on a TE basis by average earning assets
for the period. Nonaccrual loans are included in the
above-stated average balances.
Analysis of Average Balances and Tax
Equivalent Interest Rates
(dollars in thousands)
For Six Months Ended(Dollars in thousands-unaudited)
June 30, 2026 June 30, 2025
---------------------------------- ----------------------------------
Average Interest Average Average Interest Average
Balance (1) Rate (1) Balance (1) Rate (1)
----------- ---------- --------- ----------- ---------- ---------
Interest Earning
Assets:
Interest bearing
deposits and other $ 23,890 $ 499 4.21% $ 36,208 $ 817 4.55%
Investment securities 472,671 6,934 2.96% 424,064 5,303 2.52%
Loans 1,123,864 35,583 6.38% 1,109,984 34,722 6.31%
Total Earning Assets $1,620,425 $ 43,016 5.35% $1,570,256 $ 40,842 5.25%
--------- ------ ----- --------- ------ -----
Allowance for credit
losses (13,229) (15,556)
Cash and due from banks 20,846 23,487
Other assets 45,550 35,995
Total Assets $1,673,592 $1,614,182
========= =========
Interest Bearing
Liabilities:
Interest bearing
checking accounts $ 209,004 $ 1,116 1.08% $ 246,411 $ 2,021 1.65%
Savings and money
market deposits 525,991 4,584 1.76% 405,453 3,322 1.65%
Time deposits 475,103 7,292 3.10% 490,289 9,121 3.75%
Total interest bearing
deposits 1,210,098 12,992 2.17% 1,142,153 14,464 2.55%
Borrowings 36,772 536 2.94% 58,704 781 2.68%
Total Interest Bearing
Liabilities $1,246,870 $ 13,528 2.19% $1,200,857 $ 15,246 2.56%
--------- ------ ----- --------- ------ -----
Interest Rate Spread 3.17% 2.68%
Noninterest bearing
checking accounts 238,476 242,529
Other liabilities 14,598 14,582
Total liabilities 1,499,944 1,457,968
--------- ---------
Total stockholders'
equity 173,648 156,213
Total Liabilities and
Stockholders' Equity $1,673,592 $1,614,181
========= =========
Net Interest
Income/Margin $ 29,488 3.67% $ 25,597 3.29%
(1) Management discloses certain non-GAAP financial
measures to evaluate and measure the Company's performance,
including a
presentation of net interest income with a net interest
margin on a tax-equivalent(TE) basis. Net interest
margin is calculated by dividing net
interest income on a TE basis by average earning assets
for the period. Nonaccrual loans are included in the
above-stated average balances.
(END) Dow Jones Newswires
July 15, 2026 11:04 ET