KS Bancorp, Inc. (KSBI) Reports 41% Year to Date Increase in Net Income and Expands Footprint into Nash County, North Carolina
KS Bancorp (OTCID:KSBI) reported strong Q2 2025 financial results, with net income reaching $2.2 million ($2.02 per diluted share), a 35% increase from Q2 2024. Year-to-date net income grew 41% to $4.3 million ($3.89 per diluted share).
The bank's total assets increased to $727.3 million, with net loans up by $33.4 million to $587.9 million. Core deposits grew by 6%, and the company maintained strong asset quality with nonperforming assets below 0.10% of total assets. The Board declared a quarterly dividend of $0.28 per share.
Notably, KS Bank expanded its footprint by opening its eleventh full-service branch in Bailey, marking its first location in Nash County, North Carolina. The bank maintains a solid Community Bank Leverage Ratio of 9.22%.
KS Bancorp (OTCID:KSBI) ha riportato solidi risultati finanziari nel secondo trimestre del 2025, con un utile netto di 2,2 milioni di dollari (2,02 dollari per azione diluita), in aumento del 35% rispetto al secondo trimestre del 2024. L'utile netto da inizio anno è cresciuto del 41%, raggiungendo 4,3 milioni di dollari (3,89 dollari per azione diluita).
Gli attivi totali della banca sono saliti a 727,3 milioni di dollari, con prestiti netti aumentati di 33,4 milioni a 587,9 milioni di dollari. I depositi core sono cresciuti del 6% e la società ha mantenuto una solida qualità degli attivi, con attività non performanti inferiori allo 0,10% del totale degli attivi. Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale di 0,28 dollari per azione.
Di rilievo, KS Bank ha ampliato la sua presenza aprendo la sua undicesima filiale a servizio completo a Bailey, segnando la prima sede nella contea di Nash, North Carolina. La banca mantiene un solido rapporto di leva della Community Bank pari a 9,22%.
KS Bancorp (OTCID:KSBI) reportó sólidos resultados financieros en el segundo trimestre de 2025, con un ingreso neto de 2,2 millones de dólares (2,02 dólares por acción diluida), un aumento del 35% respecto al segundo trimestre de 2024. El ingreso neto acumulado en el año creció un 41%, alcanzando 4,3 millones de dólares (3,89 dólares por acción diluida).
Los activos totales del banco aumentaron a 727,3 millones de dólares, con préstamos netos incrementados en 33,4 millones hasta 587,9 millones de dólares. Los depósitos principales crecieron un 6% y la compañía mantuvo una sólida calidad de activos, con activos no productivos por debajo del 0,10% del total de activos. La Junta Directiva declaró un dividendo trimestral de 0,28 dólares por acción.
Destacadamente, KS Bank amplió su presencia al abrir su undécima sucursal de servicio completo en Bailey, marcando su primera ubicación en el condado de Nash, Carolina del Norte. El banco mantiene una sólida relación de apalancamiento comunitario (Community Bank Leverage Ratio) del 9,22%.
KS Bancorp (OTCID:KSBI)는 2025년 2분기 강력한 재무 실적을 보고했으며, 순이익은 220만 달러(희석 주당 2.02달러)로 2024년 2분기 대비 35% 증가했습니다. 연초부터 순이익은 41% 증가하여 430만 달러(희석 주당 3.89달러)에 달했습니다.
은행의 총 자산은 7억 2,730만 달러로 증가했으며, 순대출금은 3,340만 달러 증가하여 5억 8,790만 달러가 되었습니다. 핵심 예금은 6% 증가했고, 회사는 총 자산 대비 0.10% 미만의 부실 자산으로 강력한 자산 건전성을 유지했습니다. 이사회는 주당 0.28달러의 분기 배당금을 선언했습니다.
특히 KS Bank는 노스캐롤라이나 주 내시 카운티에 첫 지점을 열며 베일리에서 11번째 전면 서비스 지점을 확장했습니다. 은행은 9.22%의 견고한 커뮤니티 뱅크 레버리지 비율을 유지하고 있습니다.
KS Bancorp (OTCID:KSBI) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice net atteignant 2,2 millions de dollars (2,02 dollars par action diluée), soit une augmentation de 35 % par rapport au deuxième trimestre 2024. Le bénéfice net cumulé depuis le début de l'année a augmenté de 41 %, atteignant 4,3 millions de dollars (3,89 dollars par action diluée).
Les actifs totaux de la banque ont augmenté pour atteindre 727,3 millions de dollars, avec des prêts nets en hausse de 33,4 millions pour atteindre 587,9 millions de dollars. Les dépôts de base ont progressé de 6 %, et la société a maintenu une qualité d'actifs solide avec des actifs non performants inférieurs à 0,10 % du total des actifs. Le conseil d'administration a déclaré un dividende trimestriel de 0,28 dollar par action.
Notamment, KS Bank a étendu sa présence en ouvrant sa onzième agence à service complet à Bailey, marquant sa première implantation dans le comté de Nash, en Caroline du Nord. La banque maintient un solide ratio de levier communautaire (Community Bank Leverage Ratio) de 9,22 %.
KS Bancorp (OTCID:KSBI) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einem Nettogewinn von 2,2 Millionen US-Dollar (2,02 US-Dollar je verwässerter Aktie), was einem Anstieg von 35 % gegenüber dem zweiten Quartal 2024 entspricht. Der Nettogewinn seit Jahresbeginn stieg um 41 % auf 4,3 Millionen US-Dollar (3,89 US-Dollar je verwässerter Aktie).
Die Gesamtaktiva der Bank stiegen auf 727,3 Millionen US-Dollar, wobei die Nettokredite um 33,4 Millionen auf 587,9 Millionen US-Dollar zunahmen. Die Kern-Einlagen wuchsen um 6 %, und das Unternehmen hielt eine starke Vermögensqualität mit notleidenden Vermögenswerten unter 0,10 % der Gesamtaktiva aufrecht. Der Vorstand erklärte eine Quartalsdividende von 0,28 US-Dollar je Aktie.
Bemerkenswert ist, dass KS Bank seine Präsenz durch die Eröffnung der elften Filiale mit vollem Service in Bailey erweiterte, was den ersten Standort im Nash County, North Carolina, markiert. Die Bank hält eine solide Community Bank Leverage Ratio von 9,22 %.
- Net income increased 35% in Q2 2025 and 41% year-to-date
- Net interest income grew 22.8% in Q2 2025
- Core deposits increased by 6% ($34.2 million)
- Strong asset quality with nonperforming assets below 0.10% of total assets
- Geographic expansion with new branch in Nash County
- Total assets grew by $36.4 million to $727.3 million
- Non-interest expenses increased by 13% to $4.7 million in Q2
- Provision for loan losses increased to $338,000 from $114,000 year-over-year
- Community Bank Leverage Ratio slightly decreased to 9.22% from 9.24%
SMITHFIELD, NC / ACCESS Newswire / July 23, 2025 / KS Bancorp, Inc. (the "Company") (OTCID:KSBI), parent company of KS Bank, Inc. (the "Bank"), announced unaudited results for the second quarter of 2025.
The Company reported net income of
Net interest income before the provision for credit losses for the three months ended June 30, 2025, increased
For the six months ending June 30, 2025, net interest income before the provision for credit losses was
The Company's unaudited consolidated total assets increased by
As of June 30, 2025, nonperforming assets consisted of nonaccrual loans totaling
Commenting on the second quarter results, Earl W. Worley, Jr., President and CEO of the Company, stated, "We are pleased with our continued momentum through the first half of 2025, highlighted by a
As we move into the second half of the year, we remain cautiously optimistic. While our fundamentals are sound and our strategic initiatives are progressing well, we recognize that ongoing economic uncertainty and future actions by the Federal Reserve may impact both interest rate trends and customer behavior. We will continue to manage risk carefully, remain flexible in our approach, and focus on delivering long-term value to our customers, communities, and shareholders."
In addition, the Company announced today that its Board of Directors has declared a quarterly dividend of
KS Bank continues to be well-capitalized according to regulatory standards, with a Community Bank Leverage Ratio of
KS Bancorp, Inc. is a Smithfield, North Carolina-based single-bank holding company. KS Bank, Inc., a state-chartered savings bank, is KS Bancorp's sole subsidiary. The Bank is a full-service community bank that has served the citizens of eastern North Carolina since 1924. The Bank offers a broad range of personal and business banking products and services, as well as mortgage and trust services. Eleven full-service branches are located in Kenly, Selma, Clayton, Garner, Goldsboro, Wilson, Wendell, Smithfield, Four Oaks, Dunn, and Bailey, North Carolina. For more information, visit www.ksbankinc.com.
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like "expect," "anticipate," "estimate" and "believe," variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements.
Contact: Earl W. Worley, Jr. | Regina J Smith |
KS Bancorp, Inc. and Subsidiary | ||||||||
Consolidated Statements of Financial Condition | ||||||||
June 30, 2025 | December 31, | |||||||
(unaudited) | 2024* | |||||||
(Dollars in thousands) | ||||||||
ASSETS | ||||||||
Cash and due from banks: | ||||||||
Interest-earning | $ | 13,771 | $ | 10,627 | ||||
Noninterest-earning | 4,806 | 4,897 | ||||||
Time Deposit | 723 | 523 | ||||||
Investment securities available for sale, at fair value | 94,545 | 95,946 | ||||||
Federal Home Loan Bank stock, at cost | 498 | 469 | ||||||
Loans | 592,595 | 558,779 | ||||||
Less allowance for loan losses | (4,667 | ) | (4,259 | ) | ||||
Net loans | 587,928 | 554,520 | ||||||
Accrued interest receivable | 2,813 | 2,655 | ||||||
Foreclosed assets, net | 500 | - | ||||||
Property and equipment, net | 12,334 | 12,231 | ||||||
Other assets | 9,342 | 8,981 | ||||||
Total assets | $ | 727,260 | $ | 690,849 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Liabilities | ||||||||
Deposits | $ | 661,690 | $ | 618,156 | ||||
Short-term borrowings | $ | - | $ | 11,144 | ||||
Long-term borrowings | 11,248 | 11,248 | ||||||
Accrued interest payable | 322 | 323 | ||||||
Accrued expenses and other liabilities | 5,284 | 4,675 | ||||||
Total liabilities | 678,544 | 645,546 | ||||||
Stockholder's Equity: | ||||||||
Preferred stock, no par value, 500,000 shares authorized; none issued and outstanding | ||||||||
Common stock, no par value, 3,500,000 shares authorized; 1,107,776 shares issued and outstanding at June, 2025 and December 31, 2024, respectively | 1,359 | 1,359 | ||||||
Retained earnings, substantially restricted | 56,392 | 52,675 | ||||||
Accumulated other comprehensive Income (loss) | (9,035 | ) | (8,731 | ) | ||||
Total stockholders' equity | 48,716 | 45,303 | ||||||
Total liabilities and stockholders' equity | $ | 727,260 | $ | 690,849 | ||||
* Derived from audited financial statements | ||||||||
KS Bancorp, Inc and Subsidiary | |||||||||||||||||
Consolidated Statement of Income | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
30-Jun | 30-Jun | ||||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Interest and dividend income: | |||||||||||||||||
Loans | $ | 9,604 | $ | 7,784 | 18,560 | 15,237 | |||||||||||
Investment securities | |||||||||||||||||
Taxable | 575 | 513 | 1,135 | 1,013 | |||||||||||||
Tax-exempt | 180 | 202 | 361 | 404 | |||||||||||||
Dividends | 6 | 6 | 12 | 12 | |||||||||||||
Interest-bearing deposits | 212 | 277 | 343 | 397 | |||||||||||||
Total interest and dividend income | 10,577 | 8,782 | 20,411 | 17,063 | |||||||||||||
Interest expense: | |||||||||||||||||
Deposits | 3,510 | 3,132 | 6,824 | 5,938 | |||||||||||||
Borrowings | 166 | 192 | 354 | 565 | |||||||||||||
Total interest expense | 3,676 | 3,324 | 7,178 | 6,503 | |||||||||||||
Net interest income | 6,901 | 5,458 | 13,233 | 10,560 | |||||||||||||
Provision for loan losses | 338 | 114 | 533 | 283 | |||||||||||||
Net interest income after | |||||||||||||||||
provision for loan losses | 6,563 | 5,344 | 12,700 | 10,277 | |||||||||||||
Noninterest income: | |||||||||||||||||
Service charges on deposit accounts | 365 | 320 | 690 | 634 | |||||||||||||
Fees from trust services | 371 | 334 | 742 | 651 | |||||||||||||
Other income | 324 | 209 | 540 | 407 | |||||||||||||
Total noninterest income | 1,060 | 863 | 1,972 | 1,692 | |||||||||||||
Noninterest expenses: | |||||||||||||||||
Compensation and benefits | 2,883 | 2,513 | 5,552 | 5,015 | |||||||||||||
Occupancy and equipment | 611 | 596 | 1,271 | 1,153 | |||||||||||||
Data processing & outside service fees | 291 | 244 | 555 | 479 | |||||||||||||
Advertising | 76 | 64 | 129 | 110 | |||||||||||||
Other | 806 | 712 | 1,537 | 1,354 | |||||||||||||
Total noninterest expenses | 4,667 | 4,129 | 9,044 | 8,111 | |||||||||||||
Income before income taxes | 2,956 | 2,078 | 5,628 | 3,858 | |||||||||||||
Income tax | 715 | 421 | 1,312 | 815 | |||||||||||||
Net income | $ | 2,241 | $ | 1,657 | $ | 4,316 | $ | 3,043 | |||||||||
Basic and Diluted earnings per share | $ | 2.02 | $ | 1.50 | $ | 3.89 | $ | 2.75 | |||||||||
SOURCE: KS Bancorp, Inc.
View the original press release on ACCESS Newswire
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