PB Financial Corporation Reports Record Second Quarter 2026 Earnings
Rhea-AI Summary
PB Financial Corporation (OTCQX: PBNC) reported record Q2 2026 net income available to common shareholders of $6.06 million, up 18.55% year over year, and six‑month net income of $11.62 million, up 18.39%.
Total assets reached $1.51 billion, deposits $1.29 billion, and gross loans $1.26 billion. Six‑month basic EPS rose to $4.02. A quarterly dividend of $0.63 per share is payable August 21, 2026, marking the 59th consecutive cash dividend.
Positive
- Q2 2026 net income to common up 18.55% to $6.06 million
- Six‑month 2026 net income to common up 18.39% to $11.62 million
- Total assets up 8.05% year over year to $1.514 billion
- Total deposits up 8.84% to $1.291 billion; gross loans up 7.15% to $1.260 billion
- Six‑month basic EPS increased 17.54% to $4.02 per share
- Net interest margin improved to 3.87% from 3.74% in Q2 2025
- Efficiency ratio improved to 42.59% from 45.53% in Q2 2025
- Quarterly dividend of $0.63 per share; 59th consecutive cash dividend
Negative
- Non‑performing assets to total assets rose to 0.10% from 0.06% year over year
- Non‑accrual loans increased to $1.52 million from $394,000 year over year
- Allowance for credit losses to loans declined to 0.86% from 0.89% year over year
- Accumulated other comprehensive loss widened to $5.94 million from $4.63 million since December 31, 2025
News Market Reaction – PBNC
In the Jul 7 session, PBNC gained 2.19%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ROCKY MOUNT, NC / ACCESS Newswire / July 7, 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 June 30, 2026, of
As of June 30, 2026, the Company reported total assets of
Whitehurst commented, "I am very pleased to report record quarterly earnings. The Company continued to experience strong growth throughout the organization with over
For the six-month period ended June 30, 2026, the Company had basic earnings of
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.
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 June 30, 2026 and June 30, 2025 as presented are unaudited.
PB Financial Corporation | ||||||||
Consolidated Balance Sheets | June 30, | December 31, | ||||||
(Dollars in thousands) | 2026 | 2025 | ||||||
Assets | (unaudited) | * | ||||||
Cash and due from banks | $ | 13,302 | $ | 10,521 | ||||
Interest-earning deposits with banks | 26,569 | 24,093 | ||||||
Investment securities | 167,720 | 143,472 | ||||||
Loans, gross | 1,260,204 | 1,180,246 | ||||||
Allowance for credit losses | (10,891 | ) | (10,493 | ) | ||||
Premises and equipment, net | 3,675 | 3,737 | ||||||
Goodwill | 9,876 | 9,876 | ||||||
Other intangible assets | 3,514 | 3,978 | ||||||
Other assets | 40,506 | 39,229 | ||||||
Total assets | $ | 1,514,475 | $ | 1,404,659 | ||||
Liabilities and | ||||||||
Stockholders' Equity | ||||||||
Liabilities: | ||||||||
Deposits | $ | 1,290,855 | $ | 1,186,279 | ||||
FHLB advances | 25,000 | 25,000 | ||||||
Subordinate debt | 23,619 | 23,593 | ||||||
Junior subordinate debt | 4,558 | 4,528 | ||||||
Other liabilities | 12,359 | 12,186 | ||||||
Total liabilities | 1,356,391 | 1,251,586 | ||||||
Shareholders' Equity: | ||||||||
Preferred stock | 17,923 | 17,923 | ||||||
Common stock | 3,021 | 2,977 | ||||||
Additional paid-in capital | 57,217 | 55,930 | ||||||
Retained earnings | 85,861 | 80,871 | ||||||
Accumulated other comprehensive loss | (5,938 | ) | (4,628 | ) | ||||
Total shareholders' equity | 158,084 | 153,073 | ||||||
Total liabilities and | ||||||||
shareholders' equity | $ | 1,514,475 | $ | 1,404,659 | ||||
Common stock outstanding | 3,021,235 | 2,976,761 | ||||||
Book value per share | $ | 46.39 | $ | 45.40 | ||||
Tangible book value per share | $ | 41.96 | $ | 40.75 | ||||
* Derived from audited financial statements
PB Financial Corporation | ||||||||||||||||
Consolidated Statements of Operations | For the three months ended | For the six months ended | ||||||||||||||
(Dollars in thousands) | June 30, | June 30, | June 30, | June 30, | ||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||
Interest income | $ | 23,083 | $ | 21,856 | $ | 45,220 | $ | 42,894 | ||||||||
Interest expense | 9,065 | 9,361 | 17,739 | 18,628 | ||||||||||||
Net interest income | 14,018 | 12,495 | 27,481 | 24,266 | ||||||||||||
Provision for credit losses | 120 | 118 | 404 | 279 | ||||||||||||
Net interest income after | ||||||||||||||||
provision for credit losses | 13,898 | 12,377 | 27,077 | 23,987 | ||||||||||||
Non interest income | 480 | 461 | 974 | 937 | ||||||||||||
Non interest expenses: | ||||||||||||||||
Salaries and employee benefits | 3,577 | 3,246 | 7,296 | 6,452 | ||||||||||||
Occupancy and equipment | 312 | 328 | 655 | 646 | ||||||||||||
Advertising and promotion | 34 | 62 | 74 | 123 | ||||||||||||
Data processing | 803 | 692 | 1,556 | 1,333 | ||||||||||||
Professional services | 219 | 253 | 432 | 491 | ||||||||||||
Amortization of intangible assets | 228 | 258 | 464 | 522 | ||||||||||||
Foreclosure | - | 8 | - | 8 | ||||||||||||
Other | 908 | 955 | 1,651 | 1,835 | ||||||||||||
Total non-interest expenses | 6,081 | 5,802 | 12,128 | 11,410 | ||||||||||||
Income before income taxes | 8,297 | 7,036 | 15,923 | 13,514 | ||||||||||||
Income tax expense | 1,923 | 1,610 | 3,678 | 3,074 | ||||||||||||
Net income | 6,374 | 5,426 | 12,245 | 10,440 | ||||||||||||
Preferred stock dividends | 313 | 313 | 627 | 627 | ||||||||||||
Net income available to common shareholders | $ | 6,061 | $ | 5,113 | $ | 11,618 | $ | 9,813 | ||||||||
Net income per common share - basic | $ | 2.09 | $ | 1.78 | $ | 4.02 | $ | 3.42 | ||||||||
Net income per common share - diluted | $ | 1.93 | $ | 1.70 | $ | 3.72 | $ | 3.27 | ||||||||
Basic weighted average shares outstanding | 2,897,095 | 2,870,239 | 2,887,595 | 2,865,207 | ||||||||||||
Diluted weighted average shares outstanding | 3,135,678 | 3,009,741 | 3,120,110 | 3,001,570 | ||||||||||||
Other Data | ||||||||||||||||
Return on average assets | 1.67 | % | 1.53 | % | 1.65 | % | 1.50 | % | ||||||||
Return on average equity | 17.52 | % | 17.04 | % | 17.05 | % | 16.68 | % | ||||||||
Net interest margin | 3.87 | % | 3.74 | % | 3.89 | % | 3.68 | % | ||||||||
Allowance for credit losses to loans | 0.86 | % | 0.89 | % | 0.86 | % | 0.89 | % | ||||||||
Non-performing assets to total assets | 0.10 | % | 0.06 | % | 0.10 | % | 0.06 | % | ||||||||
Net charge-offs to loans | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||
Efficiency ratio | 42.59 | % | 45.53 | % | 43.09 | % | 45.85 | % | ||||||||
Non-accrual loans | $ | 1,520 | $ | 394 | $ | 1,520 | $ | 394 | ||||||||
Other real estate owned | $ | - | $ | 411 | $ | - | $ | 411 | ||||||||
Gain/(loss) on sale of securities | $ | - | $ | - | $ | - | $ | - | ||||||||
For more information, contact:
Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com
SOURCE: PB Financial Corp
View the original press release on ACCESS Newswire