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Arizona Tribune - PB Financial Corporation Reports Record Third Quarter 2026 Earnings

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PB Financial Corporation Reports Record Third Quarter 2026 Earnings
PB Financial Corporation Reports Record Third Quarter 2026 Earnings

PB Financial Corporation Reports Record Third Quarter 2026 Earnings

ECONOMY 06.10.2026

ROCKY MOUNT, NC / ACCESS Newswire / October 6, 2026 / 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, 2026, of $6.59 million compared to $5.71 million for the same period in 2025, an increase of 15.45%. For the nine-month period ended September 30, 2026, net income available to common shareholders was $18.21 million compared to $15.52 million for the same period in 2025, an increase of 17.31%.

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As of September 30, 2026, the Company reported total assets of $1.557 billion compared to $1.391 billion on September 30, 2025, an increase of 11.91%. Total deposits were $1.284 billion and gross loans were $1.313 billion at the end of the third quarter of 2026, compared to total deposits of $1.179 billion and gross loans of $1.181 billion at the end of the third quarter of 2025, increases of 8.89% and 11.20% respectively.

Whitehurst commented, "I am pleased to report record quarterly earnings. The Company continued to experience strong growth throughout the organization with over 11% growth in total assets and over 17% increase in net income available to common shareholders year-to-date. The hard work and effort of our employees continues to drive our efficiency. As always, we will continue to look for opportunities to further enhance shareholder value."

For the nine-month period ended September 30, 2026, the Company had basic earnings of $6.30 per share compared to $5.41 per share for the same period last year, an increase of 16.45%. As of September 30, 2026, the book value per common share was $47.28 compared to $43.75 on September 30, 2025, an increase of 8.07%. On August 21, 2026, the Company paid its third quarter dividend of $0.63 per share for each share of common stock outstanding. It was our 59th 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.

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, 2026 and September 30, 2025 as presented are unaudited.

PB Financial Corporation
Consolidated Balance Sheets
September 30,December 31,
(Dollars in thousands)
20262025
Assets
(unaudited)*
Cash and due from banks
$9,686$10,521
Interest-earning deposits with banks
14,99624,093
Investment securities
168,811143,472
Loans, gross
1,313,3171,180,246
Allowance for credit losses
(11,148)(10,493)
Premises and equipment, net
3,6423,737
Goodwill
9,8769,876
Other intangible assets
3,2943,978
Other assets
44,28739,229
Total assets
$1,556,761$1,404,659
Liabilities and Stockholders' Equity
Liabilities:
Deposits
$1,283,519$1,186,279
FHLB advances
72,00025,000
Subordinate debt
23,63223,593
Junior subordinate debt
4,5744,528
Other liabilities
12,21112,186
Total liabilities
1,395,9361,251,586
Shareholders' Equity:
Preferred stock
17,92317,923
Common stock
3,0222,977
Additional paid-in capital
57,41155,930
Retained earnings
92,44980,871
Accumulated other comprehensive loss
(9,980)(4,628)
Total shareholders' equity
160,825153,073
Total liabilities and
shareholders' equity
$1,556,761$1,404,659
Common stock outstanding
3,022,1962,976,761
Book value per share
$47.28$45.40
Tangible book value per share
$42.93$40.75

* Derived from audited financial statements

PB Financial Corporation
Consolidated Statements of Operations
For the three months endedFor the nine months ended
(Dollars in thousands)
September 30,September 30,September 30,September 30,
2026202520262025
(unaudited)(unaudited)(unaudited)(unaudited)
Interest income
$24,329$22,694$69,549$65,588
Interest expense
9,6209,46527,35928,093
Net interest income
14,70913,22942,19037,495
Provision for credit losses
153-557279
Net interest income after
provision for credit losses
14,55613,22941,63337,216
Non interest income
6145161,5881,453
Non interest expenses:
Salaries and employee benefits
3,8763,41411,1729,866
Occupancy and equipment
332328987974
Advertising and promotion
2961103184
Data processing
8166972,3722,030
Professional services
214263646754
Amortization of intangible assets
221249685771
Foreclosure
-45-53
Other
7588172,4092,652
Total non-interest expenses
6,2465,87418,37417,284
Income before income taxes
8,9247,87124,84721,385
Income tax expense
2,0191,8485,6974,922
Net income
6,9056,02319,15016,463
Preferred stock dividends
314314941941
Net income available to common shareholders
$6,591$5,709$18,209$15,522
Net income per common share - basic
$2.27$1.98$6.30$5.41
Net income per common share - diluted
$2.10$1.87$5.82$5.14
Basic weighted average shares outstanding
2,902,4172,879,4062,892,5902,869,992
Diluted weighted average shares outstanding
3,141,7923,059,7943,127,7443,020,917

Other Data
Return on average assets
1.71%1.64%1.67%1.55%
Return on average equity
18.41%18.05%17.52%17.17%
Net interest margin
3.86%3.83%3.88%3.73%
Allowance for credit losses to loans
0.85%0.89%0.85%0.89%
Non-performing assets to total assets
0.13%0.05%0.13%0.05%
Net charge-offs/(recoveries) to loans
(0.01)%0.00%(0.01)%0.00%
Efficiency ratio
41.74%43.80%42.62%45.14%
Non-accrual loans
$1,472$283$1,472$283
90 days past due and still accruing
$608$-$608$-
Other real estate owned
$-$370$-$370
Gain/(loss) on sale of securities
$-$-$-$-

For more information, contact:

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

SOURCE: PB Financial Corp



View the original press release on ACCESS Newswire

A.Taylor--AT

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