Kish Bancorp, Inc. Reports Net Income of $5.3 Million, or $1.77 Per Share, for the Second Quarter of 2026
Rhea-AI Summary
Kish Bancorp (OTCQX: KISB) reported unaudited Q2 2026 net income of $5.3 million, or $1.77 per share, flat versus Q1 2026 but up from $3.8 million, or $1.28 per share, in Q2 2025. For the first six months of 2026, net income was $10.6 million, or $3.51 per share, up from $7.4 million, or $2.50 per share, a year earlier.
Total assets reached $2.08 billion, crossing the $2 billion mark and rising 13.6% year over year. Loans grew 14.4% to $1.78 billion, while deposits increased 11.1% to $1.51 billion. Net interest income before provision rose 17.0% to $16.6 million, with net interest margin at 3.46%. Kish recorded a $982 thousand provision for credit losses and noninterest income growth of 17.2%.
Return on average equity was 14.94% and return on average assets was 1.05%. Tangible book value per share increased 16.8% to $42.59. The quarterly cash dividend was raised 10% to $0.44 per share, and the company completed a $35.0 million subordinated notes private placement, using proceeds to redeem 2021 subordinated notes, repay other borrowings, and for general corporate purposes. Regulatory capital ratios remained above well-capitalized thresholds.
Positive
- Net income up 38.5% YoY to $5.3 million in Q2 2026
- EPS up YoY to $1.77 from $1.28 in Q2 2025
- Loan growth 14.4% YoY to $1.78 billion
- Deposit growth 11.1% YoY to $1.51 billion
- Net interest income up 17.0% YoY to $16.6 million
- Net interest margin expanded to 3.46% in Q2 2026
- ROE 14.94% and ROA 1.05% in Q2 2026
- Tangible book value per share up 16.8% to $42.59
- Dividend increased 10% to $0.44 per share
- $35.0 million subordinated notes issued to refinance debt and for corporate purposes
Negative
- Provision for credit losses up to $982 thousand from $470 thousand YoY
- Nonperforming loans higher YoY at $10.2 million versus $506 thousand
- Net loan charge-offs of $248 thousand in Q2 2026 versus net recoveries a year ago
- Noninterest expense up 5.7% YoY to $12.9 million in Q2 2026
- Efficiency ratio 67.0% in Q2 2026, above 66.1% in Q1 2026
News Market Reaction – KISB
In the Jul 16 session, KISB gained 1.35%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
STATE COLLEGE, Pa., July 15, 2026 (GLOBE NEWSWIRE) -- Kish Bancorp, Inc. (OTCQX: KISB) (“Kish” or the “Company”), parent company of Kish Bank, reported net income of
“Earnings momentum carried into the second quarter based on sustained loan and deposit growth, and the continued success of our growth strategy,” stated William P. Hayes, Executive Chairman. “Second quarter earnings rose
“Crossing the
Second Quarter 2026 Financial Highlights:
- Net income increased
38.5% to$5.3 million , or$1.77 per share, for the second quarter of 2026, compared to$3.8 million , or$1.28 per share, for the second quarter of 2025. - Total assets increased
$250.2 million , or13.6% , to$2.08 billion at June 30, 2026, compared to$1.83 billion a year ago. - Total loans grew by
$223.8 million year over year, or14.4% , to$1.78 billion , compared to$1.55 billion a year ago. - Total deposits increased
$150.4 million year over year, or11.1% , to$1.51 billion . - Second quarter net interest income, before provision, increased
$2.4 million , or17.0% , compared to the second quarter a year ago, as the second quarter net interest margin expanded to3.46% , up 10 basis points from the second quarter a year ago. - Second quarter provision for credit losses increased to
$982 thousand , compared to$470 thousand in the second quarter a year ago. - Noninterest income increased
$533 thousand , or17.2% , compared to the year-ago quarter. - Continued strong second quarterly ROE of
14.94% was accompanied by a quarterly ROA of1.05% . - Tangible book value per share increased
16.8% to$42.59 , compared to$36.45 a year ago. - Quarterly cash dividend was increased by
$0.04 from the prior quarter to$0.44 per share, payable July 31, 2026, to shareholders of record on July 15, 2026—the 11th consecutive year of increased dividends. - At June 30, 2026, Kish Bank continued to exceed regulatory well-capitalized requirements with a Tier 1 leverage ratio of
8.92% , a Tier 1 capital ratio of10.08% , and a Total risk-based capital ratio of10.87% , supported by capital expansion fueled by strong growth in retained earnings.
Balance Sheet
“Loan growth strengthened during the second quarter, with linked-quarter growth of
Total assets ended the quarter at
Total deposits grew by
Stockholders’ equity increased
Based on the sustained retention in retained earnings, Kish Bank continues to maintain capital levels in excess of the requirements to be categorized as “well-capitalized” with a Tier 1 leverage ratio of
Credit Quality
Nonperforming loans decreased slightly to
“As previously disclosed, nonaccrual loans increased by
Net loan charge-offs totaled
Operating Results
Kish generated a return on average common equity of
Net interest income, before the provision for credit losses, increased
“Total borrowings increased during the second quarter, primarily reflecting the upsizing of our subordinated debt offering in May. At the same time, we’ve been prudent in managing our cost of funds. As brokered deposit rates moved higher, we deliberately let some of that funding roll off, replacing it with core deposits and lower-cost borrowings. That discipline is reflected in our improved cost of funds and net interest margin this quarter,” said President and CEO Hayes.
The Company recorded a
Kish’s first quarter noninterest income increased
Noninterest expense increased
The efficiency ratio for the second quarter of 2026 was
In the second quarter of 2026, the Company recorded
Dividend
On July 1, 2026, the Board of Directors increased its regular quarterly cash dividend by 0.04, or
Recent Events
During the second quarter of 2026, the Company completed the private placement of
About Kish Bancorp, Inc.
Kish Bancorp, Inc. is a diversified financial services corporation headquartered in Belleville, PA, with executive offices in State College, PA and an Innovation Center in Reedsville, PA. Kish Bank, a subsidiary of Kish Bancorp, Inc., operates 20 locations serving Centre, Mifflin, Huntingdon, Blair, and Juniata counties in Pennsylvania, as well as northeastern Ohio. In addition to Kish Bank, other business units include: Kish Insurance, an independent property and casualty insurance agency; Kish Financial Solutions, which offers trust, fiduciary, and wealth management advisory services; Kish Benefits Consulting, which provides employee benefits consulting services; and Kish Travel, a full-service travel agency. KISB is the OTCQX stock ticker symbol for Kish Bancorp, Inc. For additional information, please visit ir.kishbancorp.com or otcmarkets.com/stock/KISB.
Forward Looking Statements
Certain statements regarding Kish Bancorp, Inc. set forth in this document and any related materials, as well as in related oral and written presentations, contain forward-looking information and speak only as of the date of such statement. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans and prospects. This forward-looking information is subject to numerous material risks, uncertainties and assumptions, certain of which are beyond the control of Kish Bancorp, including the impact of general economic conditions, industry conditions, competition from other industry participants, the effect of federal, state and local regulation on financial institutions, market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the material assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Kish Bancorp will derive therefrom. Kish Bancorp disclaims any intention or obligation to update or revise any forward-looking information, whether, because of new information, future events or otherwise, except as required by applicable securities laws.
| Consolidated Balance Sheet | ||||||||||||
| (Unaudited; in thousands) | ||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | ||||||||||
| ASSETS | ||||||||||||
| Cash and due from banks | $ | 11,706 | $ | 14,472 | $ | 15,915 | ||||||
| Interest-bearing deposits with other institutions | 4,875 | 3,628 | 5,382 | |||||||||
| Cash and cash equivalents | 16,581 | 18,100 | 21,297 | |||||||||
| Certificates of deposit on other financial institutions | - | - | - | |||||||||
| Investment securities available for sale | 195,529 | 160,787 | 155,582 | |||||||||
| Equity securities | 1,697 | 2,554 | 2,256 | |||||||||
| Investment securities held to maturity | 2,227 | 2,722 | 8,501 | |||||||||
| Loans held for sale | 3,566 | 2,486 | 3,422 | |||||||||
| Loans | 1,777,410 | 1,709,280 | 1,553,564 | |||||||||
| Less allowance for credit losses | 12,389 | 11,975 | 10,171 | |||||||||
| Net Loans | 1,765,021 | 1,697,305 | 1,543,393 | |||||||||
| Premises and equipment | 28,113 | 28,079 | 28,730 | |||||||||
| Goodwill | 3,512 | 3,512 | 3,512 | |||||||||
| Regulatory stock | 11,953 | 10,918 | 12,439 | |||||||||
| Bank-owned life insurance | 25,545 | 25,687 | 25,118 | |||||||||
| Accrued interest and other assets | 31,151 | 29,008 | 30,465 | |||||||||
| TOTAL ASSETS | $ | 2,084,895 | $ | 1,981,158 | $ | 1,834,715 | ||||||
| LIABILITIES | ||||||||||||
| Noninterest-bearing deposits | 212,484 | 206,765 | 186,105 | |||||||||
| Interest-bearing deposits | 1,200,915 | 1,184,573 | 1,077,758 | |||||||||
| Brokered deposits | 95,788 | 121,546 | 94,880 | |||||||||
| Total Deposits | 1,509,187 | 1,512,884 | 1,358,743 | |||||||||
| Borrowings | 412,232 | 310,339 | 333,311 | |||||||||
| Accrued interest and other liabilities | 30,696 | 29,376 | 29,383 | |||||||||
| TOTAL LIABILITIES | 1,952,115 | 1,852,599 | 1,721,437 | |||||||||
| STOCKHOLDERS' EQUITY | ||||||||||||
| Common stock, | ||||||||||||
| 8,000,000 shares authorized, | ||||||||||||
| 3,063,246, 3,041,986 and 3,023,690 issued | 1,532 | 1,521 | 1,512 | |||||||||
| Additional paid-in capital | 13,551 | 13,395 | 12,616 | |||||||||
| Retained earnings | 128,605 | 124,500 | 112,103 | |||||||||
| Accumulated other comprehensive income | (9,428 | ) | (10,057 | ) | (11,962 | ) | ||||||
| Treasury stock, at cost (32,064, 20,871 and 30,781 shares) | (1,480 | ) | (800 | ) | (991 | ) | ||||||
| TOTAL STOCKHOLDERS' EQUITY | 132,780 | 128,559 | 113,278 | |||||||||
| TOTAL LIABILITIES AND | ||||||||||||
| STOCKHOLDERS' EQUITY | $ | 2,084,895 | $ | 1,981,158 | $ | 1,834,715 | ||||||
| CONSOLIDATED STATEMENT OF INCOME | ||||||||||||||||||||
| (Unaudited; in thousands) | ||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025 | ||||||||||||||||
| INTEREST AND DIVIDEND INCOME | ||||||||||||||||||||
| Interest and fees on loans: | ||||||||||||||||||||
| Taxable | $ | 26,640 | $ | 25,867 | $ | 24,146 | $ | 52,507 | $ | 46,665 | ||||||||||
| Exempt from federal income tax | 320 | 316 | 265 | 636 | 496 | |||||||||||||||
| Investment securities | ||||||||||||||||||||
| Taxable | 1,252 | 1,052 | 1,005 | 2,304 | 1,968 | |||||||||||||||
| Exempt from federal income tax | 62 | 61 | 59 | 123 | 117 | |||||||||||||||
| Interest-bearing deposits with other institutions | 32 | 29 | 49 | 61 | 108 | |||||||||||||||
| Other dividend income | 303 | 299 | 320 | 602 | 562 | |||||||||||||||
| TOTAL INTEREST AND DIVIDEND INCOME | 28,609 | 27,624 | 25,844 | 56,233 | 49,916 | |||||||||||||||
| INTEREST EXPENSE | ||||||||||||||||||||
| Deposits | 8,265 | 8,470 | 8,067 | 16,735 | 16,297 | |||||||||||||||
| Borrowings | 3,729 | 3,197 | 3,573 | 6,926 | 6,365 | |||||||||||||||
| TOTAL INTEREST EXPENSE | 11,994 | 11,667 | 11,640 | 23,661 | 22,662 | |||||||||||||||
| NET INTEREST INCOME | 16,615 | 15,957 | 14,204 | 32,572 | 27,254 | |||||||||||||||
| Provision for credit losses | 982 | 845 | 470 | 1,827 | 629 | |||||||||||||||
| NET INTEREST INCOME AFTER | ||||||||||||||||||||
| PROVISION FOR CREDIT LOSSES | 15,633 | 15,112 | 13,734 | 30,745 | 26,625 | |||||||||||||||
| NONINTEREST INCOME | ||||||||||||||||||||
| Service fees on deposit accounts | 801 | 721 | 698 | 1,522 | 1,357 | |||||||||||||||
| Equity securities (losses) gains, net | 606 | 105 | 44 | 272 | (35 | ) | ||||||||||||||
| Gain on sale of loans, net | 143 | 113 | 124 | 256 | 210 | |||||||||||||||
| Earnings on Bank-owned life insurance | 204 | 188 | 265 | 392 | 444 | |||||||||||||||
| Insurance commissions | 733 | 1,094 | 690 | 1,827 | 1,680 | |||||||||||||||
| Travel agency commissions | 26 | 24 | 41 | 50 | 49 | |||||||||||||||
| Wealth management | 761 | 1,013 | 595 | 1,774 | 1,505 | |||||||||||||||
| Benefits consulting | 205 | 168 | 157 | 373 | 327 | |||||||||||||||
| Other | 152 | 204 | 484 | 356 | 642 | |||||||||||||||
| TOTAL NONINTEREST INCOME | 3,631 | 3,630 | 3,098 | 7,261 | 6,179 | |||||||||||||||
| NONINTEREST EXPENSE | ||||||||||||||||||||
| Salaries and employee benefits | 7,387 | 7,567 | 7,048 | 14,954 | 13,997 | |||||||||||||||
| Occupancy and equipment | 1,166 | 1,175 | 1,161 | 2,341 | 2,252 | |||||||||||||||
| Data processing | 1,352 | 1,387 | 1,352 | 2,739 | 2,734 | |||||||||||||||
| Professional fees | 160 | 137 | 265 | 297 | 453 | |||||||||||||||
| Advertising | 192 | 230 | 147 | 422 | 292 | |||||||||||||||
| Federal deposit insurance | 396 | 412 | 378 | 808 | 756 | |||||||||||||||
| Other | 2,245 | 1,478 | 1,848 | 3,724 | 3,318 | |||||||||||||||
| TOTAL NONINTEREST EXPENSE | 12,898 | 12,386 | 12,199 | 25,285 | 23,802 | |||||||||||||||
| INCOME BEFORE INCOME TAXES | 6,366 | 6,356 | 4,633 | 12,721 | 9,002 | |||||||||||||||
| Income taxes | 1,048 | 1,066 | 795 | 2,114 | 1,555 | |||||||||||||||
| NET INCOME | $ | 5,317 | $ | 5,290 | $ | 3,838 | $ | 10,607 | $ | 7,447 | ||||||||||
| Earnings per share | $ | 1.77 | $ | 1.76 | $ | 1.28 | $ | 3.51 | $ | 2.50 | ||||||||||
| ADDITIONAL FINANCIAL INFORMATION | ||||||||||||||||||||
| (Dollars and shares in thousands except per share amounts)(Unaudited) | ||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025 | ||||||||||||||||
| PERFORMANCE MEASURES AND RATIOS | ||||||||||||||||||||
| Return on average common equity | 14.94 | % | 15.73 | % | 12.18 | % | 15.32 | % | 11.93 | % | ||||||||||
| Return on average assets | 1.05 | % | 1.08 | % | 0.85 | % | 1.06 | % | 0.85 | % | ||||||||||
| Efficiency ratio | 66.95 | % | 66.09 | % | 72.47 | % | 66.53 | % | 71.02 | % | ||||||||||
| Net interest margin | 3.46 | % | 3.43 | % | 3.36 | % | 3.45 | % | 3.30 | % | ||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025 | ||||||||||||||||
| AVERAGE BALANCES | ||||||||||||||||||||
| Average assets | $ | 2,022,546 | $ | 1,978,293 | $ | 1,793,776 | $ | 2,000,542 | $ | 1,758,165 | ||||||||||
| Average earning assets | 1,922,893 | 1,883,611 | 1,694,455 | 1,903,361 | 1,659,250 | |||||||||||||||
| Average total loans | 1,739,005 | 1,710,249 | 1,521,284 | 1,724,706 | 1,488,219 | |||||||||||||||
| Average deposits | 1,493,183 | 1,486,519 | 1,303,120 | 1,489,970 | 1,301,428 | |||||||||||||||
| Average common equity | 137,729 | 133,747 | 121,682 | 135,749 | 120,090 | |||||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | ||||||||||||||||||
| EQUITY ANALYSIS | ||||||||||||||||||||
| Total common equity | $ | 139,292 | $ | 135,688 | $ | 122,278 | ||||||||||||||
| Common stock outstanding | 3,063,246 | 3,041,986 | 3,023,690 | |||||||||||||||||
| Book value per share | $ | 43.94 | $ | 42.70 | $ | 37.46 | ||||||||||||||
| Tangible book value per share | $ | 42.59 | $ | 41.35 | $ | 36.45 | ||||||||||||||
| ASSET QUALITY | ||||||||||||||||||||
| Nonaccrual loans | $ | 10,151 | $ | 10,187 | $ | 506 | ||||||||||||||
| Loans 90 days past due and still accruing | - | - | - | |||||||||||||||||
| Total nonperforming loans | $ | 10,151 | $ | 10,187 | $ | 506 | ||||||||||||||
| Other real estate owned and other repossessed assets | - | - | - | |||||||||||||||||
| Total nonperforming assets | $ | 10,151 | $ | 10,187 | $ | 506 | ||||||||||||||
| Nonperforming loans/portfolio loans | 0.57 | % | 0.60 | % | 0.03 | % | ||||||||||||||
| Nonperforming assets/assets | 0.49 | % | 0.51 | % | 0.03 | % | ||||||||||||||
| Allowance for credit losses | $ | 12,389 | $ | 11,975 | $ | 10,171 | ||||||||||||||
| Allowance for credit losses/portfolio loans | 0.70 | % | 0.70 | % | 0.65 | % | ||||||||||||||
| Allowance for credit losses/nonperforming loans | 122.05 | % | 117.55 | % | 2010.08 | % | ||||||||||||||
| Net loan (recoveries) charge-offs for the quarter | $ | 248 | $ | (1 | ) | $ | (88 | ) | ||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | ||||||||||||||||||
| KISH BANK | ||||||||||||||||||||
| Tier 1 leverage ratio | 8.92 | % | 8.88 | % | 8.91 | % | ||||||||||||||
| Tier 1 capital ratio | 10.08 | % | 10.21 | % | 9.83 | % | ||||||||||||||
| Total capital ratio | 10.87 | % | 10.99 | % | 10.53 | % | ||||||||||||||
| Jun. 30, 2026 | Mar. 31, 2026 | Jun. 30, 2025 | ||||||||||||||||||
| INTEREST SPREAD ANALYSIS | ||||||||||||||||||||
| Yield on total loans | 6.23 | % | 6.22 | % | 6.45 | % | ||||||||||||||
| Yield on investments | 2.96 | % | 2.73 | % | 2.61 | % | ||||||||||||||
| Yield on interest earning deposits | 2.67 | % | 2.05 | % | 3.96 | % | ||||||||||||||
| Yield on earning assets | 5.95 | % | 5.93 | % | 6.10 | % | ||||||||||||||
| Cost of interest-bearing deposits | 2.58 | % | 2.66 | % | 2.86 | % | ||||||||||||||
| Cost of total deposits | 2.22 | % | 2.31 | % | 2.48 | % | ||||||||||||||
| Cost of borrowings | 4.05 | % | 3.87 | % | 4.11 | % | ||||||||||||||
| Cost of interest-bearing liabilities | 2.91 | % | 2.91 | % | 3.16 | % | ||||||||||||||
| Cost of funds | 2.58 | % | 2.60 | % | 2.83 | % | ||||||||||||||
Contact: Gregory T. Hayes, President and Chief Executive Officer, 814-325-7530
