PB Financial Corporation Reports Record Third Quarter 2025 Earnings

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PB Financial Corporation Reports Record Third Quarter 2025 Earnings

ECONOMY 09.10.2025

ROCKY MOUNT, NC, NC / ACCESS Newswire / October 9, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company (the "Company") for Providence Bank, reported net income available to common shareholders for the quarter ended September 30, 2025, of $5.71 million compared to $4.60 million for the same period in 2024, an increase of 24.21%. For the nine-month period ended September 30, 2025, net income available to common shareholders was $15.52 million compared to $11.88 million for the same period in 2024, an increase of 30.69%.

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As of September 30, 2025, the Company reported total assets of $1.391 billion compared to $1.285 billion on September 30, 2024, an increase of 8.23%. Total deposits were $1.179 billion and gross loans were $1.181 billion at the end of the third quarter of 2025, compared to total deposits of $1.084 billion and gross loans of $1.086 billion at the end of the third quarter of 2024, increases of 8.75% and 8.71% respectively.

Whitehurst commented, "I am excited to report record quarterly earnings along with strong growth in both loans and deposits. The hard work and effort of our employees and the strategic merger with Coastal Bank & Trust continue to drive efficiency. As always, we will continue to look for opportunity to further enhance shareholder value."

For the nine-month period ended September 30, 2025, the Company had basic earnings of $5.41 per share compared to $4.37 per share for the same period last year, an increase of 23.80%. As of September 30, 2025, the book value per common share was $43.75 compared to $39.70 on September 30, 2024, an increase of 10.20%. On August 22, 2025, the Company paid its third quarter dividend of $0.59 per share for each share of common stock outstanding. It was our 55^th consecutively increased quarterly cash dividend paid to shareholders.

Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City and Richlands, as well as a loan production office in New Bern.

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarters ended September 30, 2025 and September 30, 2024 as presented are unaudited.

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; [email protected]

PB Financial Corporation
Consolidated Balance Sheets and Statements of Operations

Balance Sheets	September 30,		December 31,
In Thousands	2025		2024
Assets	(unaudited)		*
Cash and due from banks	$	9,583	$	11,445
Interest-earning deposits with banks	23,347	13,385
Investment securities	130,062	114,048
Loans, gross	1,181,004	1,129,337
Allowance for credit losses	(10,487	)	(10,205	)
Intangible assets	14,097	14,278
Other assets	43,479	44,922
Total assets	$	1,391,085	$	1,317,210

Liabilities and
Stockholders' Equity
Deposits	$	1,178,727	$	1,115,145
Borrowed funds	53,097	58,496
Other liabilities	11,223	10,282
Shareholders' Equity	148,038	133,287
Total liabilities and
stockholders' equity	$	1,391,085	$	1,317,210

Book value per share	$	43.75	$	39.63
Tangible book value per share	$	39.01	$	34.72

Statements of Operations
In Thousands

	For the three months ended						For the nine months ended
	September 30,		September 30,		September 30,		September 30,
	2025		2024		2025		2024
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Interest income	$	22,694	$	20,988	$	65,588	$	56,662
Interest expense	9,465	9,473	28,093	26,257
Net interest income	13,229	11,515	37,495	30,405
Provision for credit losses	-	163	279	355
Net interest income after
provision for credit losses	13,229	11,352	37,216	30,050
Non interest income	516	493	1,453	1,281
Non interest expense	5,874	5,475	17,284	14,701
Income before income taxes	7,871	6,370	21,385	16,630
Income tax expense	1,848	1,460	4,922	3,964
Net income	6,023	4,910	16,463	12,666
Preferred stock dividends	314	313	941	788
Net income available to common stockholders	$	5,709	$	4,597	$	15,522	$	11,878

Net income per common share - basic	$	1.98	$	1.60	$	5.41	$	4.37
Net income per common share - diluted	$	1.87	$	1.54	$	5.14	$	4.20

* Derived from audited financial statements

SOURCE: PB Financial Corp

View the original press release on ACCESS Newswire

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Arizona Tribune - PB Financial Corporation Reports Record Third Quarter 2025 Earnings

PB Financial Corporation Reports Record Third Quarter 2025 Earnings

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