Solera National Bancorp Announces Second Quarter 2025 Financial Results

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Solera National Bancorp Announces Second Quarter 2025 Financial Results

ECONOMY 25.07.2025

Net income of $5.9 million ($1.38 per share), a NEW RECORD!

Q2 2025 pre-tax and pre-provision income of $8.6 million. Another new record!

American Banker has recognized Solera National as part of the 2025 Top-Performing Banks with under $2B of assets, #3.

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LAKEWOOD, CO / ACCESS Newswire / July 25, 2025 / Solera National Bancorp, Inc. (OTC:SLRK) ("Company"), the holding company for Solera National Bank ("Bank"), a business-focused bank located in the Denver metropolitan area, today reported financial results for the three months ended June 30, 2025. See highlights below.

2Q25 Financial Highlights

Net income of $5.9 million ($1.38 per share), a $1.7 million or 40% increase from Q2 2024.
Net interest income increased $726 thousand or 11% from Q2 2024.
Solera had a pre-tax and pre-provision income of $8.6 million. 48% or $2.8 million increase from Q2 2024.
Non-interest income of $3.7 million or $2.5 million, or a 205% increase from Q2 2024.
Return on assets was 2.02%, a 66 bps improvement from Q2 2024.
Return on equity was 25.92%, a 549 bps improvement from Q2 2024.

Mike Quagliano, Executive Chairman of the Board, commented: "We exist for the benefit of the shareholders, and our relentless focus on customer excellence has led to 11 years of stellar earnings, with this latest quarter being the best yet."

Steve Snailum, COO, commented: "The agility of Solera is propelling us forward in the banking landscape. The commitment of the company and the board to advancing Solera's tech stack and streamlining the operations empowers us to swiftly overcome obstacles, streamline processes, and foster client relationships in a very unique way. We are committed to quicker advancement than the competition and maintaining stronger customer bonds. This record-breaking quarter truly showcases the dedication, skill, and effort that is on display daily at Solera National Bank."

Avram Shabanyan, EVP, commented: "Strong partnerships and a disciplined focus on client success fuel Solera Bank's continued growth in the self-directed space. Our continued commitment to customer-first solutions empowers individuals to utilize their retirement funds in alternative investment opportunities confidently."

Jay Hansen, Chief Financial Officer, commented: "Our performance this quarter reflects the strength of our diversified portfolio and disciplined risk management. Our ratios continue to improve, and our team members are in a great position for long-term success."

About Solera National Bancorp, Inc.

Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving the needs of emerging businesses and real estate investors. At the core of Solera National Bank is welcoming, attentive, and respectful customer service, a focus on supporting a growing and diverse economy, and a passion to serve our community through service, education, and volunteerism. For more information, please visit http://www.SoleraBank.com.

This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly-owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.

Source: Solera National Bank

Contacts: Jay Hansen, CFO (303) 209-8600

FINANCIAL TABLES FOLLOW

SOLERA NATIONAL BANCORP, INC.
CONSOLIDATED BALANCE SHEET
(unaudited)

($000s)	6/30/25		3/31/25		12/31/24		9/30/24		6/30/24
ASSETS
Cash and due from banks	$	1,969	$	2,401	$	1,576	$	2,193	$	2,241
Federal funds sold	-	-	800	400	-
Interest-bearing deposits with banks	2,963	1,033	148	595	844
Investment securities, available-for-sale	422,112	290,397	322,375	317,180	183,311
Investment securities, held-to-maturity	-	-	-	-	200,457
FHLB and Federal Reserve Bank stocks, at cost	5,004	5,525	7,457	3,204	10,959
Paycheck Protection Program (PPP) loans, gross	-	5	20	35	50
Traditional loans, gross	754,518	766,687	792,753	797,516	792,739
Allowance for loan and lease losses	(11,219	)	(10,914	)	(10,913	)	(10,912	)	(10,810	)
Net traditional loans	743,299	755,773	781,840	786,604	781,929
Premises and equipment, net	35,128	33,236	33,476	32,289	30,625
Accrued interest receivable	10,244	7,153	7,750	6,940	7,808
Bank-owned life insurance	5,190	5,159	5,127	5,095	5,063
Other assets	13,433	11,103	8,820	8,734	8,325
TOTAL ASSETS	$	1,239,342	$	1,111,785	$	1,169,389	$	1,163,269	$	1,231,612
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing demand deposits	$	463,861	$	466,455	$	484,604	$	497,661	$	503,819
Interest-bearing demand deposits	65,761	60,507	54,734	64,606	62,905
Savings and money market deposits	138,964	104,560	100,987	103,118	102,892
Time deposits	436,547	287,378	294,338	353,405	272,744
Total deposits	1,105,133	918,900	934,663	1,018,790	942,360
Accrued interest payable	2,528	1,808	2,587	2,618	2,104
Short-term borrowings	(1	)	60,191	104,607	13,300	164,613
Long-term FHLB borrowings	34,000	34,000	34,000	34,000	34,000
Accounts payable and other liabilities	5,337	6,087	4,576	5,395	3,961
TOTAL LIABILITIES	1,146,997	1,020,987	1,080,434	1,074,104	1,147,038
Common stock	43	43	43	43	43
Additional paid-in capital	38,778	38,763	38,748	38,748	38,778
Retained earnings	83,008	77,076	72,455	67,163	61,667
Accumulated other comprehensive (loss) gain	(29,484	)	(25,084	)	(22,291	)	(16,789	)	(15,914	)
TOTAL STOCKHOLDERS' EQUITY	92,345	90,798	88,955	89,165	84,574
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	1,239,342	$	1,111,785	$	1,169,389	$	1,163,269	$	1,231,612

SOLERA NATIONAL BANCORP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

Three Months Ended
($000s, except per share data)	6/30/25		3/31/25		12/31/24		9/30/24		6/30/24
Interest and dividend income
Interest and fees on traditional loans	$	12,791	$	13,101	$	13,615	$	13,854	$	13,270
Investment securities	4,831	3,490	3,297	3,544	3,721
Dividends on bank stocks	180	175	131	160	249
Other	21	49	13	19	22
Total interest income	$	17,823	$	16,815	$	17,056	$	17,577	$	17,262
Interest expense
Deposits	6,235	4,959	5,564	6,312	5,285
FHLB & Fed borrowings	1,410	1,550	1,223	1,332	2,831
Total interest expense	7,645	6,509	6,787	7,644	8,116
Net interest income	10,178	10,306	10,269	9,933	9,146
Provision for loan and lease losses	310	7	6	105	4
Net interest income after provision for loan and lease losses	9,868	10,299	10,263	9,828	9,142
Noninterest income
Customer service and other fees	291	300	470	389	468
Other income	677	807	954	1,138	738
Gain on sale of securities	2,709	-	-	858	-
Total noninterest income	3,677	1,107	1,424	2,385	1,206
Noninterest expense
Employee compensation and benefits	2,827	2,656	2,611	2,472	2,514
Occupancy	553	448	492	393	387
Professional fees	330	259	309	122	75
Other general and administrative	1,593	1,694	1,437	1,423	1,582
Total noninterest expense	5,303	5,057	4,849	4,410	4,558
Net Income Before Taxes	$	8,242	$	6,349	$	6,838	$	7,803	$	5,790
Income Tax Expense	2,309	1,711	1,526	2,294	1,564
Net Income	$	5,933	$	4,638	$	5,312	$	5,509	$	4,226
Income Per Share	$	1.38	$	1.08	$	1.24	$	1.28	$	0.98
Tangible Book Value Per Share	$	21.48	$	21.12	$	20.69	$	20.74	$	19.67
WA Shares outstanding	4,299,953	4,299,953	4,299,953	4,299,953	4,299,953
Pre-Tax Pre-Provision Income	$	8,552	$	6,356	$	6,844	$	7,908	$	5,794
Net Interest Margin	3.56	%	3.93	%	3.81	%	3.67	%	3.39	%
Cost of Funds	2.66	%	2.49	%	2.51	%	2.72	%	2.80	%
Efficiency Ratio	47.58	%	44.31	%	41.47	%	38.48	%	44.03	%
Return on Average Assets	2.02	%	1.63	%	1.82	%	1.84	%	1.36	%
Return on Average Equity	25.92	%	20.64	%	23.86	%	25.37	%	20.42	%
Leverage Ratio	9.8	%	10.4	%	9.5	%	9.1	%	8.2	%
Asset Quality:
Non-performing loans to gross loans	0.60	%	0.42	%	0.52	%	0.65	%	0.48	%
Non-performing assets to total assets	0.37	%	0.29	%	0.35	%	0.45	%	0.31	%
Allowance for loan losses to gross traditional loans	1.49	%	1.42	%	1.38	%	1.37	%	1.36	%
* Not meaningful due to the insignificant amount of non-performing loans.
Criticized loans/assets:
Special mention	$	2,842	$	11,103	$	10,730	$	29,145	$	25,244
Substandard: Accruing	39,971	19,641	14,911	22,410	23,030
Substandard: Nonaccrual	4,526	3,251	4,142	5,180	3,784
Doubtful	-	-	-	-	-
Total criticized loans	$	47,339	$	33,995	$	29,782	$	56,735	$	52,058
Other real estate owned	-	-	-	-	-
Investment securities	-	-	-	-	-
Total criticized assets	$	47,339	$	33,995	$	29,782	$	56,735	$	52,058
Criticized assets to total assets	3.82	%	3.06	%	2.55	%	4.88	%	4.23	%

SOURCE: Solera National Bancorp, Inc.

View the original press release on ACCESS Newswire

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Arizona Tribune - Solera National Bancorp Announces Second Quarter 2025 Financial Results

Solera National Bancorp Announces Second Quarter 2025 Financial Results

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