PB Financial Corporation Reports Record Third Quarter 2025 Earnings

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) reported record third quarter 2025 results on October 9, 2025, highlighting higher profitability, asset growth and continued deposit and loan expansion.

Key figures: Q3 net income available to common shareholders $5.71M (+24.21% vs Q3 2024); nine-month net income $15.52M (+30.69%); total assets $1.391B (Sept 30, 2025); total deposits $1.179B; gross loans $1.181B; book value per share $43.75 (+10.20% YoY); third-quarter dividend $0.59 paid Aug 22, 2025 (55th consecutive quarterly increase).

Positive

• Q3 net income available to common shareholders $5.71M (Q3 2025)
• Nine-month net income $15.52M through Sept 30, 2025
• Total assets $1.391B as of Sept 30, 2025
• Total deposits $1.179B as of Sept 30, 2025
• Gross loans $1.181B as of Sept 30, 2025
• Book value per share $43.75 as of Sept 30, 2025
• Paid $0.59 quarterly dividend on Aug 22, 2025 (55th increase)

Negative

• Noninterest expense $17.28M for nine months ended Sept 30, 2025
• Income tax expense $4.92M for nine months ended Sept 30, 2025

ROCKY MOUNT, NC, NC / ACCESS Newswire / October 9, 2025 / 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 September 30, 2025, of $5.71 million compared to $4.60 million for the same period in 2024, an increase of 24.21%. For the nine-month period ended September 30, 2025, net income available to common shareholders was $15.52 million compared to $11.88 million for the same period in 2024, an increase of 30.69%.

As of September 30, 2025, the Company reported total assets of $1.391 billion compared to $1.285 billion on September 30, 2024, an increase of 8.23%. Total deposits were $1.179 billion and gross loans were $1.181 billion at the end of the third quarter of 2025, compared to total deposits of $1.084 billion and gross loans of $1.086 billion at the end of the third quarter of 2024, increases of 8.75% and 8.71% respectively.

Whitehurst commented, "I am excited to report record quarterly earnings along with strong growth in both loans and deposits. The hard work and effort of our employees and the strategic merger with Coastal Bank & Trust continue to drive efficiency. As always, we will continue to look for opportunity to further enhance shareholder value."

For the nine-month period ended September 30, 2025, the Company had basic earnings of $5.41 per share compared to $4.37 per share for the same period last year, an increase of 23.80%. As of September 30, 2025, the book value per common share was $43.75 compared to $39.70 on September 30, 2024, an increase of 10.20%. On August 22, 2025, the Company paid its third quarter dividend of $0.59 per share for each share of common stock outstanding. It was our 55^th consecutively increased quarterly cash dividend paid to shareholders.

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, as well as a loan production office in New Bern.

www.pbknc.com

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 September 30, 2025 and September 30, 2024 as presented are unaudited.

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

PB Financial Corporation
Consolidated Balance Sheets and Statements of Operations

Balance Sheets		September 30,				December 31,
In Thousands		2025				2024
Assets		(unaudited)					*
Cash and due from banks		$	9,583			$	11,445
Interest-earning deposits with banks			23,347				13,385
Investment securities			130,062				114,048
Loans, gross			1,181,004				1,129,337
Allowance for credit losses			(10,487	)			(10,205	)
Intangible assets			14,097				14,278
Other assets			43,479				44,922
Total assets		$	1,391,085			$	1,317,210
Liabilities and
Stockholders' Equity
Deposits		$	1,178,727			$	1,115,145
Borrowed funds			53,097				58,496
Other liabilities			11,223				10,282
Shareholders' Equity			148,038				133,287
Total liabilities and
stockholders' equity		$	1,391,085			$	1,317,210
Book value per share		$	43.75			$	39.63
Tangible book value per share		$	39.01			$	34.72

Statements of Operations
In Thousands

		For the three months ended								For the nine months ended
		September 30,				September 30,				September 30,				September 30,
		2025				2024				2025				2024
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Interest income		$	22,694			$	20,988			$	65,588			$	56,662
Interest expense			9,465				9,473				28,093				26,257
Net interest income			13,229				11,515				37,495				30,405
Provision for credit losses			-				163				279				355
Net interest income after
provision for credit losses			13,229				11,352				37,216				30,050
Non interest income			516				493				1,453				1,281
Non interest expense			5,874				5,475				17,284				14,701
Income before income taxes			7,871				6,370				21,385				16,630
Income tax expense			1,848				1,460				4,922				3,964
Net income			6,023				4,910				16,463				12,666
Preferred stock dividends			314				313				941				788
Net income available to common stockholders		$	5,709			$	4,597			$	15,522			$	11,878
Net income per common share - basic		$	1.98			$	1.60			$	5.41			$	4.37
Net income per common share - diluted		$	1.87			$	1.54			$	5.14			$	4.20

* Derived from audited financial statements

SOURCE: PB Financial Corp

View the original press release on ACCESS Newswire

FAQ

What were PB Financial (PBNC) third-quarter 2025 net income and EPS?

Q3 2025 net income available to common shareholders was $5.71M; basic EPS for the three months was $1.98.

How did PB Financial's nine-month 2025 net income compare to 2024 (PBNC)?

Nine-month 2025 net income available to common shareholders was $15.52M versus $11.88M in 2024 (+30.69%).

What were PB Financial's balance-sheet totals at Sept 30, 2025 (PBNC)?

As of Sept 30, 2025: total assets $1.391B, total deposits $1.179B, gross loans $1.181B.

Did PB Financial (PBNC) change its dividend in Q3 2025?

The company paid a $0.59 per share quarterly dividend on Aug 22, 2025, marking the 55th consecutive quarterly increase.

How did PB Financial's book value per share change year-over-year (PBNC)?

Book value per common share was $43.75 on Sept 30, 2025, up from $39.70 a year earlier (+10.20%).

What drove PB Financial's earnings growth in Q3 2025 (PBNC)?

Reported drivers include higher net interest income and growth in loans and deposits following strategic merger activity.