Oakworth Capital Inc. Reports 27% Increase in Diluted EPS

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Oakworth Capital (OTCQX: OAKC) has reported substantial growth in Q1 2025, with notable increases in both quarterly and annual profitability. The company achieved net income of $5.0 million, marking a 23% increase from the previous quarter and 28% year-over-year growth.

Key financial highlights include:

• Diluted EPS reached $1.01, up 27% from Q1 2024
• Revenue grew to $19.8 million, an 18% increase year-over-year
• Trust and wealth fees showed 6% quarterly and 12% annual growth
• Wealth assets rose 6% year-over-year to $2.3 billion
• Loans increased 17% year-over-year to $1.5 billion
• Deposits grew 14% year-over-year to $1.6 billion

The company maintained strong capital positions with a Tier 1 Capital ratio of 10.6%, Total Capital Ratio of 11.7%, and Leverage Ratio of 9.5% as of March 31, 2025.

News Market Reaction

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On the day this news was published, OAKC gained 0.54%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BIRMINGHAM, Ala., April 22, 2025 /PRNewswire/ -- Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported growth in both annual and linked-quarter profitability in first quarter 2025.  Highlights include:

• Net income of $5.0 million: 23% higher than $4.1 million linked-quarter and 28% higher than $3.9 million year-over-year
• Diluted earnings per share of $1.01: 23% higher than $0.82 linked-quarter and 27% higher than $0.80 in first quarter 2024
• Pre-tax pre-provision income of $7.5 million: 17% higher than $6.4 million linked-quarter and 39% higher than $5.4 million in first quarter 2024
• Revenue of $19.8 million: 3% higher than $19.1 million linked-quarter and 18% higher than $16.7 million in first quarter 2024
  • 4% linked-quarter growth and 24% year-over-year growth in net interest income
  • 6% linked-quarter growth and 12% year-over-year growth in trust and wealth fees
• Non-interest expenses of $12.3 million: 3% lower linked-quarter and 9% higher year-over-year
• ROAE of 15.9%
• ROAA of 1.1%

Oakworth's Chairman and CEO Scott Reed stated, "Our strong first quarter results reflect an intense focus on understanding and serving the needs of our clients while ensuring that we are managing our business in a prudent manner.  We are growing our balance sheet in a balanced fashion while ensuring that we realize returns on our investments in markets, technology and people."

Wealth assets increased 6% year-over-year to $2.3 billion.  Year-over-year loan growth was 17% (both actual and average) and 3% linked quarter to $1.5 billion.  Deposits grew 14% year-over-year (17% on average basis) and 2% linked quarter to $1.6 billion. 

At March 31, 2025, Tier 1 Capital was 10.6%, the Total Capital Ratio was 11.7% and the Leverage Ratio was 9.5%.

About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.

Oakworth has been ranked among American Banker's "Best Banks to Work for" for the past eight years, holding the top spot for six of those and ranking #2 most recently.  Additionally, Oakworth's 2024 average Net Promoter Score (NPS) was 94 with a commensurate client retention rate of 95%. As of March 31, 2025, Oakworth had $1.8 billion in total assets, $1.5 billion in gross loans, $1.6 billion in deposits and $2.3 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.

OAKWORTH CAPITAL INC.
WEALTH AND TRUST (Unaudited)
(In millions)		As of										Change				Change
		3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024		03/31/2025 vs. 12/31/2024				03/31/2025 vs. 03/31/2024
Wealth assets (non-balance sheet)		$           2,285		$           2,297		$           2,308		$           2,200		$           2,156		$              (12)		0 %		$              129		6 %
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited)
(in thousands)		As of										Change				Change
		3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024		03/31/2025 vs. 12/31/2024				03/31/2025 vs. 03/31/2024
Assets
Cash and due from banks		$       100,968		$       125,016		$       117,265		$         71,623		$       126,215		$        (24,048)		-19 %		$        (25,247)		-20 %
Federal funds sold		525		950		1,950		75		1,650		(425)		-45 %		(1,125)		-68 %
Securities available for sale		175,599		158,885		156,926		151,379		147,576		16,714		11 %		28,023		19 %
Loans, net of unearned income		1,492,413		1,455,238		1,411,569		1,357,150		1,280,129		37,175		3 %		212,284		17 %
Allowance for credit losses		(17,015)		(16,330)		(16,494)		(15,895)		(15,048)		(685)		4 %		(1,967)		13 %
Loans, net		1,475,398		1,438,908		1,395,075		1,341,255		1,265,081		36,490		3 %		210,317		17 %
Fixed assets		4,221		4,420		4,647		4,820		4,998		(199)		-5 %		(777)		-16 %
Interest receivable		6,909		6,678		6,478		6,903		6,279		231		3 %		630		10 %
Other assets		53,866		54,084		54,396		56,200		47,856		(218)		0 %		6,010		13 %
Total assets		$     1,817,486		$     1,788,941		$     1,736,737		$     1,632,255		$     1,599,655		$         28,545		2 %		$       217,831		14 %
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing deposits		$       270,536		$       274,872		$       255,008		$       274,968		$       266,083		$          (4,336)		-2 %		$           4,453		2 %
Interest-bearing deposits		1,356,172		1,321,864		1,268,998		1,124,013		1,166,594		34,308		3 %		189,578		16 %
Total deposits		1,626,708		1,596,736		1,524,006		1,398,981		1,432,677		29,972		2 %		194,031		14 %
Total Borrowings		38,763		39,296		64,273		94,250		34,227		(533)		-1 %		4,536		13 %
Accrued interest payable		559		1,149		643		1,517		703		(590)		-51 %		(144)		-20 %
Other liabilities		20,382		26,964		22,018		19,474		18,005		(6,582)		-24 %		2,377		13 %
Total liabilities		1,686,412		1,664,145		1,610,940		1,514,222		1,485,612		22,267		1 %		200,800		14 %
Total stockholders' equity		131,074		124,796		125,797		118,033		114,043		6,278		5 %		17,031		15 %
Total liabilities and stockholders' equity		$     1,817,486		$     1,788,941		$     1,736,737		$     1,632,255		$     1,599,655		$         28,545		2 %		$       217,831		14 %

 

OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(in thousands)		Quarter Ended										Change				Change
		3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024		1Q25 vs. 4Q24				1Q25 vs. 1Q24
Interest income:
Loans, including fees		$         24,803		$         25,141		$         25,423		$         23,505		$         22,056		$             (338)		-1 %		$           2,747		12 %
Securities available for sale		1,474		1,257		1,187		1,101		1,030		217		17 %		444		43 %
Short term investments		1,169		1,222		837		982		1,134		(53)		-4 %		35		3 %
Total interest income		27,446		27,620		27,447		25,588		24,220		(174)		-1 %		3,226		13 %
Interest expense:
Deposits		11,268		11,807		12,296		11,429		11,189		(539)		-5 %		79		1 %
Borrowings		637		804		1,253		1,044		548		(167)		-21 %		89		16 %
Total interest expense		11,905		12,611		13,549		12,473		11,737		(706)		-6 %		168		1 %
Net interest income		15,541		15,009		13,898		13,115		12,483		532		4 %		3,058		24 %
Provision for credit losses		775		1,080		599		847		396		(305)		-28 %		379		96 %
Net interest income after provision		14,766		13,929		13,299		12,268		12,087		837		6 %		2,679		22 %
for loan losses
Non-interest income		4,245		4,108		3,943		4,051		4,219		137		3 %		26		1 %
Non-interest expense		12,325		12,721		11,638		11,497		11,320		(396)		-3 %		1,005		9 %
Income before income taxes		6,686		5,316		5,604		4,822		4,986		1,370		26 %		1,700		34 %
Provision for income taxes		1,655		1,236		1,458		1,204		1,056		419		34 %		599		57 %
Net Income		5,031		4,080		4,146		3,618		3,930		951		23 %		1,101		28 %
Earnings per share - basic		$             1.01		$             0.82		$             0.84		$             0.73		$             0.80		$             0.19		23 %		$             0.21		27 %
Earnings per share - diluted		$             1.01		$             0.82		$             0.84		$             0.73		$             0.80		$             0.19		23 %		$             0.21		27 %

 

OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(in thousands)		YTD Period Ended
		3/31/2025			3/31/2024		Change
Interest income:
Loans, including fees		$         24,803			$          22,056		$           2,747		12 %
Securities available for sale		1,474			1,030		444		43 %
Short term investments		1,169			1,134		35		3 %
Total interest income		27,446			24,220		3,226		13 %
Interest expense:
Deposits		11,268			11,189		79		1 %
Borrowings		637			548		89		16 %
Total interest expense		11,905			11,737		168		1 %
Net interest income		15,541			12,483		3,058		24 %
Provision for credit losses		775			396		379		96 %
Net interest income after provision		14,766			12,087		2,679		22 %
for loan losses
Non-interest income		4,245			4,219		26		1 %
Non-interest expense		12,325			11,320		1,005		9 %
Income before income taxes		6,686			4,986		1,700		34 %
Provision for income taxes		1,655			1,056		599		57 %
Net Income		5,031			3,930		1,101		28 %
Earnings per share - basic		$             1.01			$             0.80		$             0.21		27 %
Earnings per share - diluted		$             1.01			$             0.80		$             0.21		27 %

 

For more information contact:
Jenifer Kimbrough
Phone:  205-263-4704
Email: jenifer.kimbrough@oakworth.com

 

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SOURCE Oakworth Capital Inc.

FAQ

What was Oakworth Capital's (OAKC) earnings per share in Q1 2025?

Oakworth Capital reported diluted earnings per share of $1.01 in Q1 2025, representing a 23% increase from the previous quarter and a 27% increase from Q1 2024.

How much did OAKC's wealth assets and deposits grow in Q1 2025?

Wealth assets increased 6% year-over-year to $2.3 billion, while deposits grew 14% year-over-year and 2% quarter-over-quarter to $1.6 billion.

What was OAKC's revenue performance in the first quarter of 2025?

OAKC reported revenue of $19.8 million, showing a 3% increase from the previous quarter and an 18% increase compared to Q1 2024.

How strong is Oakworth Capital's (OAKC) capital position as of Q1 2025?

As of March 31, 2025, OAKC maintained strong capital ratios with Tier 1 Capital at 10.6%, Total Capital Ratio at 11.7%, and Leverage Ratio at 9.5%.

What was the loan growth rate for OAKC in Q1 2025?

OAKC's loan portfolio grew 17% year-over-year and 3% quarter-over-quarter, reaching $1.5 billion.