Cashmere Valley Bank Reports Strong Quarterly Earnings of $8.0 Million, Increases Semi-Annual Dividend to $0.95 Per Share
Cashmere Valley Bank (OTCQX:CSHX) reported strong Q2 2025 financial results with quarterly earnings of $8.0 million and year-to-date earnings of $14.4 million. The bank announced an increased semi-annual dividend of $0.95 per share, payable on August 11, 2025.
Key financial metrics include: diluted EPS of $2.04 for Q2 (up 19.3% YoY), total deposits of $1.839 billion (up 3.8% YoY), and gross loans of $971.7 million. The bank's net interest margin improved to 3.20% for H1 2025, while maintaining strong credit quality with non-performing loans at 0.41% of gross loans.
The bank's efficiency ratio improved to 58.9%, and Tier 1 capital increased to $290.3 million, demonstrating solid financial health and operational efficiency.
Cashmere Valley Bank (OTCQX:CSHX) ha riportato risultati finanziari solidi nel secondo trimestre 2025, con utili trimestrali di 8,0 milioni di dollari e utili da inizio anno pari a 14,4 milioni di dollari. La banca ha annunciato un aumento del dividendo semestrale a 0,95 dollari per azione, pagabile l'11 agosto 2025.
I principali indicatori finanziari includono: utile per azione diluito di 2,04 dollari per il secondo trimestre (in crescita del 19,3% su base annua), depositi totali pari a 1,839 miliardi di dollari (in aumento del 3,8% su base annua) e prestiti lordi per 971,7 milioni di dollari. Il margine di interesse netto della banca è migliorato al 3,20% nel primo semestre 2025, mantenendo una solida qualità del credito con prestiti non performanti pari allo 0,41% dei prestiti lordi.
Il rapporto di efficienza della banca è migliorato al 58,9% e il capitale Tier 1 è salito a 290,3 milioni di dollari, dimostrando una solida salute finanziaria e un'efficienza operativa elevata.
Cashmere Valley Bank (OTCQX:CSHX) reportó sólidos resultados financieros en el segundo trimestre de 2025, con ganancias trimestrales de 8,0 millones de dólares y ganancias acumuladas en el año de 14,4 millones de dólares. El banco anunció un aumento en el dividendo semestral a 0,95 dólares por acción, pagadero el 11 de agosto de 2025.
Las métricas financieras clave incluyen: EPS diluido de 2,04 dólares para el segundo trimestre (un aumento del 19,3% interanual), depósitos totales de 1.839 millones de dólares (un aumento del 3,8% interanual) y préstamos brutos de 971,7 millones de dólares. El margen neto de interés del banco mejoró a 3,20% en el primer semestre de 2025, manteniendo una fuerte calidad crediticia con préstamos no productivos en 0,41% de los préstamos brutos.
El ratio de eficiencia del banco mejoró a 58,9% y el capital Tier 1 aumentó a 290,3 millones de dólares, demostrando una sólida salud financiera y eficiencia operativa.
캐시미어 밸리 은행 (OTCQX:CSHX)은 2025년 2분기에 강력한 재무 실적을 보고했으며, 분기 순이익은 800만 달러, 연초 대비 순이익은 1,440만 달러를 기록했습니다. 은행은 2025년 8월 11일 지급 예정인 주당 0.95달러의 반기 배당금 인상을 발표했습니다.
주요 재무 지표는 2분기 희석 주당순이익(EPS) 2.04달러 (전년 동기 대비 19.3% 증가), 총 예금액 18억 3,900만 달러 (전년 동기 대비 3.8% 증가), 총 대출금액 9억 7,170만 달러입니다. 은행의 순이자마진은 2025년 상반기에 3.20%로 개선되었으며, 부실 대출 비율은 총 대출의 0.41%로 높은 신용 품질을 유지했습니다.
은행의 효율성 비율은 58.9%로 개선되었고, Tier 1 자본은 2억 9,030만 달러로 증가하여 견고한 재무 건전성과 운영 효율성을 보여주었습니다.
Cashmere Valley Bank (OTCQX:CSHX) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice trimestriel de 8,0 millions de dollars et un bénéfice cumulé depuis le début de l'année de 14,4 millions de dollars. La banque a annoncé une augmentation du dividende semestriel à 0,95 dollar par action, payable le 11 août 2025.
Les principaux indicateurs financiers comprennent : un BPA dilué de 2,04 dollars pour le deuxième trimestre (en hausse de 19,3 % en glissement annuel), des dépôts totaux de 1,839 milliard de dollars (en hausse de 3,8 % en glissement annuel) et des prêts bruts de 971,7 millions de dollars. La marge nette d'intérêt de la banque s'est améliorée à 3,20 % au premier semestre 2025, tout en maintenant une qualité de crédit solide avec des prêts non performants à 0,41 % des prêts bruts.
Le ratio d'efficacité de la banque s'est amélioré à 58,9 % et le capital de niveau 1 a augmenté à 290,3 millions de dollars, démontrant une santé financière solide et une efficacité opérationnelle.
Cashmere Valley Bank (OTCQX:CSHX) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit Quartalsgewinnen von 8,0 Millionen US-Dollar und einem Gewinn von 14,4 Millionen US-Dollar seit Jahresbeginn. Die Bank kündigte eine erhöhte halbjährliche Dividende von 0,95 US-Dollar pro Aktie an, die am 11. August 2025 ausgezahlt wird.
Wichtige finanzielle Kennzahlen umfassen: ein verwässertes Ergebnis je Aktie (EPS) von 2,04 US-Dollar für das zweite Quartal (plus 19,3 % im Jahresvergleich), Gesamteinlagen von 1,839 Milliarden US-Dollar (plus 3,8 % im Jahresvergleich) und Bruttokredite von 971,7 Millionen US-Dollar. Die Nettozinsmarge der Bank verbesserte sich im ersten Halbjahr 2025 auf 3,20 %, während die Kreditqualität mit notleidenden Krediten von 0,41 % der Bruttokredite stark blieb.
Die Effizienzquote der Bank verbesserte sich auf 58,9 %, und das Kernkapital (Tier 1) stieg auf 290,3 Millionen US-Dollar, was eine solide finanzielle Gesundheit und operative Effizienz demonstriert.
- Quarterly earnings increased 19.3% YoY to $2.04 per diluted share
- Semi-annual dividend increased to $0.95 per share
- Net interest margin expanded to 3.20% from 3.11% YoY
- Strong deposit growth of 3.8% YoY to $1.839 billion
- Robust capital position with Tier 1 capital increasing to $290.3 million
- Improved efficiency ratio to 58.9% from 59.2% YoY
- Strong credit quality maintained with non-performing loans at just 0.41%
- Gross loans decreased by $43.8 million YoY
- Return on equity declined to 12.26% from 13.48% YoY
- Non-performing loans increased from 0.23% to 0.41% YoY
- Non-interest expenses increased by $1.7 million YoY due to higher salaries and health insurance costs
CASHMERE, WA / ACCESS Newswire / July 22, 2025 / Cashmere Valley Bank (OTCQX:CSHX) ("Bank"), announced quarterly earnings of
As of June 30, 2025, deposit balances totaled
"I am very pleased with our financial results," said Greg Oakes, President and CEO. "Our net interest margin is expanding slowly but steadily, which has benefited net income. Loan and deposit growth have been a challenge but we continue to look for opportunities to grow. We are hopeful that we will break ground during the third quarter for our new East Wenatchee location off Grant Rd."
Q2 Highlights
The Bank reported the following statement of condition highlights as of June 30, 2025:
On July 22, 2025, the Bank's Board of Directors declared a dividend of
$0.95 per share. The dividend will be payable on August 11, 2025 for shareholders of record on August 1, 2025.As of June 30, 2025, gross loans totaled
$971.7 million , representing a decrease from June 30, 2024 of$43.8 million . Loan totals were adversely affected by significant loan payoffs, the majority of which were in multifamily loans.Non-interest deposits totaled
$397.4 million , or21.6% , of the Bank's total deposits. Non-interest deposits increased2.0% , or$7.8 million , from June 30, 2024.The Bank's year to date return on assets was unchanged from the prior year at
1.37% .The Bank's return on equity through the first six months of 2025 was
12.26% as compared to13.48% one year ago. Return on equity has declined as the Bank's capital levels have increased through earnings and a reduction in unrealized losses on available for sale securities.
Total cash, cash equivalents and restricted cash totaled
Investments
The fair value of the Bank's investment portfolio totaled
A gain on sale of securities of
Loans and Credit Quality
Gross loans totaled
At June 30, 2025, the allowance for credit losses on loans (ACL) was
Credit quality remains strong with non-performing loans representing
Deposits
Total deposits increased by
Equity
As of June 30, 2025, Tier 1 capital remains strong. Tier 1 capital increased to
GAAP capital reflected an increase of
Earnings
Net Interest Income
For the six months ended, June 30, 2025, net interest income totaled
For the quarter ending June 30, 2025, net interest income increased
The net interest margin was
Non-Interest Income
Non-interest income totaled
Non-Interest Expense
Non-interest expense totaled
The Bank's efficiency ratio was
Income tax expense increased from
About Cashmere Valley Bank
Cashmere Valley Bank was established September 24, 1932 and now has 11 retail offices in Chelan, Douglas, Kittitas and Yakima Counties and a municipal lending office in King County. The Bank provides business and personal banking, commercial lending, insurance services through its subsidiary Mitchell, Reed & Schmitten Insurance, investment services, mortgage services, equipment lease financing, auto and marine dealer financing and municipal lending. The success of Cashmere Valley Bank is the result of maintaining a high level of personal service and controlling expenses so our fees and charges offer our customers the best value available. We remain committed to those principles that we feel are best summarized as, "the little Bank with the big circle of friends."
Forward-Looking Statements
This release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Bank's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "intend," "anticipate," "estimate," "will," "would," "should," "could" or "may." Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, economic uncertainty in the United States and abroad, changes in interest rates, deposit flows, real estate values, costs or effects of acquisitions, competition, changes in accounting principles, policies or guidelines, legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting the Bank's operations. The Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
MEDIA CONTACT:
Greg Oakes, CEO, (509) 782-2092 or
Mike Lundstrom, CFO, (509) 782-5495
Consolidated Balance Sheets
(UNAUDITED)
(Dollars in Thousands) | ||||||||||||
Cashmere Valley Bank and Subsidiary | ||||||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||
Assets | ||||||||||||
Cash and Cash Equivalent: | ||||||||||||
Cash & due from banks | $ | 33,936 | $ | 27,192 | $ | 21,484 | ||||||
Interest bearing deposits | 172,379 | 156,653 | 134,051 | |||||||||
Fed funds sold | 3,742 | 2,342 | 3,578 | |||||||||
Total Cash and Cash Equivalent | 210,057 | 186,187 | 159,113 | |||||||||
Securities available for sale | 794,155 | 750,761 | 652,136 | |||||||||
Securities held to maturity, net of allowance for credit losses of | 126,587 | 128,589 | 133,434 | |||||||||
Federal Home Loan Bank stock, at cost | 5,053 | 2,848 | 2,936 | |||||||||
Loans held for sale | 504 | 7 | 673 | |||||||||
Loans | 971,669 | 967,398 | 1,015,444 | |||||||||
Allowance for credit losses | (12,019 | ) | (12,391 | ) | (13,198 | ) | ||||||
Net loans | 959,650 | 955,007 | 1,002,246 | |||||||||
Premises and equipment | 19,715 | 19,251 | 20,097 | |||||||||
Accrued interest receivable | 8,721 | 8,842 | 9,416 | |||||||||
Other real estate and foreclosed assets | 97 | 97 | 97 | |||||||||
Bank Owned Life Insurance | 28,080 | 27,862 | 27,212 | |||||||||
Goodwill | 7,579 | 7,579 | 7,579 | |||||||||
Intangibles, net | 2,367 | 2,562 | 3,152 | |||||||||
Mortgage servicing rights | 2,386 | 2,406 | 2,477 | |||||||||
Net deferred tax assets | 16,554 | 16,780 | 18,394 | |||||||||
Other assets | 10,023 | 13,649 | 14,404 | |||||||||
Total assets | $ | 2,191,528 | $ | 2,122,427 | $ | 2,053,366 | ||||||
Liabilities and Shareholders' Equity | ||||||||||||
Liabilities | ||||||||||||
Deposits: | ||||||||||||
Non-interest bearing demand | $ | 397,399 | $ | 386,886 | $ | 389,580 | ||||||
Savings and interest-bearing demand | 902,986 | 921,796 | 918,205 | |||||||||
Time | 538,795 | 521,007 | 464,688 | |||||||||
Total deposits | 1,839,180 | 1,829,689 | 1,772,473 | |||||||||
Accrued interest payable | 2,963 | 2,881 | 2,642 | |||||||||
Borrowings | 84,000 | 35,000 | 48,322 | |||||||||
Other liabilities | 16,076 | 14,627 | 11,725 | |||||||||
Total liabilities | 1,942,219 | 1,882,197 | 1,835,162 | |||||||||
Shareholders' Equity | ||||||||||||
Common stock (no par value); authorized 10,000,000 shares; | ||||||||||||
Issued and outstanding: 6/30/2025 -- 3,900,683 ; 3/31/2025 -- 3,897,994 ; 6/30/2024 -- 3,890,990 | -- | -- | -- | |||||||||
Additional paid-in capital | 5,789 | 5,608 | 5,184 | |||||||||
Treasury stock | (16,784 | ) | (16,784 | ) | (16,784 | ) | ||||||
Retained Earnings | 312,542 | 304,544 | 290,710 | |||||||||
Other comprehensive income | (53,095 | ) | (53,947 | ) | (61,360 | ) | ||||||
Total Cashmere Valley Bank shareholders' equity | 248,452 | 239,421 | 217,750 | |||||||||
Noncontrolling interest | 857 | 809 | 454 | |||||||||
Total shareholders' equity | 249,309 | 240,230 | 218,204 | |||||||||
Total liabilities and shareholders' equity | $ | 2,191,528 | $ | 2,122,427 | $ | 2,053,366 | ||||||
Quarterly Consolidated Statements of Income
(UNAUDITED)
(Dollars in Thousands) | ||||||||||||
Cashmere Valley Bank & Subsidiary | ||||||||||||
For the quarters ended, | ||||||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||
Interest Income | ||||||||||||
Loans and leases | $ | 13,506 | $ | 12,834 | $ | 13,264 | ||||||
Fed funds sold and deposits at other financial institutions | 1,573 | 1,958 | 1,458 | |||||||||
Securities available for sale: | ||||||||||||
Taxable | 8,375 | 7,816 | 7,145 | |||||||||
Tax-exempt | 356 | 332 | 344 | |||||||||
Securities held to maturty: | ||||||||||||
Taxable | 748 | 762 | 786 | |||||||||
Tax-exempt | 25 | 24 | 47 | |||||||||
Total interest income | 24,583 | 23,726 | 23,044 | |||||||||
Interest Expense | ||||||||||||
Deposits | 7,041 | 7,111 | 7,166 | |||||||||
Borrowings | 748 | 401 | 612 | |||||||||
Total interest expense | 7,789 | 7,512 | 7,778 | |||||||||
Net interest income | 16,794 | 16,214 | 15,266 | |||||||||
Provision for Credit Losses | 517 | 761 | 657 | |||||||||
Net interest income after provision for credit losses | 16,277 | 15,453 | 14,609 | |||||||||
Non-Interest Income | ||||||||||||
Service charges on deposit accounts | 536 | 496 | 502 | |||||||||
Mortgage banking operations | 429 | 351 | 463 | |||||||||
Net gain (loss) on sales of securities available for sale | -- | 130 | -- | |||||||||
Brokerage commissions | 238 | 327 | 349 | |||||||||
Insurance commissions and fees | 2,482 | 2,667 | 2,225 | |||||||||
Net interchange income | 1,024 | 1,138 | 1,131 | |||||||||
Earnings from Bank Owned Life Insurance | 218 | 215 | 203 | |||||||||
Dividends from correspondent banks | 101 | 109 | 59 | |||||||||
Other | 323 | 288 | 309 | |||||||||
Total non-interest income | 5,351 | 5,721 | 5,241 | |||||||||
Non-Interest Expense | ||||||||||||
Salaries and employee benefits | 7,334 | 7,758 | 6,537 | |||||||||
Occupancy and equipment | 832 | 868 | 855 | |||||||||
Audits and examinations | 190 | 247 | 195 | |||||||||
State and local business and occupation taxes | 383 | 358 | 239 | |||||||||
FDIC insurance & WA state assessments | 256 | 268 | 224 | |||||||||
Legal and professional fees | 330 | 247 | 303 | |||||||||
Check losses and charge-offs | 110 | 118 | 148 | |||||||||
Low-income housing investment losses | (315 | ) | 158 | 169 | ||||||||
Data processing | 1,738 | 1,768 | 1,578 | |||||||||
Product delivery | 269 | 364 | 369 | |||||||||
Other | 1,077 | 1,059 | 1,087 | |||||||||
Total non-interest expense | 12,204 | 13,213 | 11,704 | |||||||||
Income before income taxes | 9,424 | 7,961 | 8,146 | |||||||||
Income Taxes | 1,379 | 1,502 | 1,472 | |||||||||
Net income | $ | 8,045 | $ | 6,459 | $ | 6,674 | ||||||
Net income attributable to noncontrolling interest | 47 | 48 | 27 | |||||||||
Net income attributable to Cashmere Valley Bank | $ | 7,998 | $ | 6,411 | $ | 6,647 | ||||||
Earnings Per Share | ||||||||||||
Basic | $ | 2.05 | $ | 1.65 | $ | 1.71 | ||||||
Diluted | $ | 2.04 | $ | 1.64 | $ | 1.71 | ||||||
Year-to-Date Consolidated Statements of Income
(UNAUDITED)
(Dollars in Thousands) | ||||||||
Cashmere Valley Bank & Subsidiary | ||||||||
For the six months ended, | ||||||||
June 30, 2025 | June 30, 2024 | |||||||
Interest Income | ||||||||
Loans and leases | $ | 26,340 | $ | 26,285 | ||||
Fed funds sold and deposits at other financial institutions | 3,530 | 2,756 | ||||||
Securities available for sale: | ||||||||
Taxable | 16,191 | 14,365 | ||||||
Tax-exempt | 688 | 621 | ||||||
Securities held to maturity: | ||||||||
Taxable | 1,511 | 1,571 | ||||||
Tax-exempt | 49 | 94 | ||||||
Total interest income | 48,309 | 45,692 | ||||||
Interest Expense | ||||||||
Deposits | 14,152 | 13,615 | ||||||
Borrowings | 1,149 | 1,221 | ||||||
Total interest expense | 15,301 | 14,836 | ||||||
Net interest income | 33,008 | 30,856 | ||||||
Provision for Credit Losses | 1,278 | 602 | ||||||
Net interest income after provision for credit losses | 31,730 | 30,254 | ||||||
Non-Interest Income | ||||||||
Service charges on deposit accounts | 1,033 | 962 | ||||||
Mortgage banking operations | 780 | 753 | ||||||
Net gain (loss) on sales of securities available for sale | 130 | -- | ||||||
Brokerage commissions | 565 | 718 | ||||||
Insurance commissions and fees | 5,149 | 4,175 | ||||||
Net interchange income | 2,162 | 2,297 | ||||||
Earnings from Bank Owned Life Insurance | 433 | 403 | ||||||
Dividends from correspondent banks | 210 | 93 | ||||||
Other | 610 | 567 | ||||||
Total non-interest income | 11,072 | 9,968 | ||||||
Non-Interest Expense | ||||||||
Salaries and employee benefits | 15,092 | 13,606 | ||||||
Occupancy and equipment | 1,700 | 1,735 | ||||||
Audits and examinations | 437 | 378 | ||||||
State and local business and occupation taxes | 741 | 573 | ||||||
FDIC insurance & WA state assessments | 523 | 468 | ||||||
Legal and professional fees | 577 | 545 | ||||||
Check losses and charge-offs | 228 | 268 | ||||||
Low-income housing investment losses | (157 | ) | 169 | |||||
Data processing | 3,506 | 3,177 | ||||||
Product delivery | 633 | 700 | ||||||
Other | 2,137 | 2,079 | ||||||
Total non-interest expense | 25,417 | 23,698 | ||||||
Income before income taxes | 17,385 | 16,524 | ||||||
Income Taxes | 2,881 | 2,565 | ||||||
Net income | $ | 14,504 | $ | 13,959 | ||||
Net income attributable to noncontrolling interest | 95 | 33 | ||||||
Net income attributable to Cashmere Valley Bank | 14,409 | 13,926 | ||||||
Earnings Per Share | ||||||||
Basic | $ | 3.70 | $ | 3.58 | ||||
Diluted | $ | 3.69 | $ | 3.58 | ||||
SOURCE: Cashmere Valley Bank
View the original press release on ACCESS Newswire
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