SVB&T Corporation, Parent Company of Springs Valley Bank & Trust Company, Reports 2025 Fourth Quarter and Annual Earnings and Declares Quarterly Dividend

Rhea-AI Summary

SVB&T Corporation (OTCQX:SVBT) reported unaudited Q4 2025 net income of $2.00 million and EPS of $1.82, a 52.94% YoY EPS increase. YTD net income was $8.82 million and EPS $8.02 (up 43.99% YoY). The board declared a quarterly dividend of $0.28 payable ~April 15, 2026; record date March 16, 2026. Key drivers: higher net interest income from loan growth and repricing, lower interest expense, modestly higher provision expense, and a mortgage servicing asset fair value adjustment that reduced noninterest income.

Positive

• Q4 EPS +52.94% YoY to $1.82
• YTD EPS +43.99% YoY to $8.02
• Net interest income +$3.87M YTD to $20.83M
• Book value per share +13.43% to $67.08
• Declared dividend increased 21.74% annualized to $0.28/qtr
• NIM expansion ~70 basis points YoY (Q4 vs Q4)

Negative

• Q4 earnings decreased ~22.93% vs prior quarter
• Provision expense rose materially (Q4 increased $299k; YTD +$452k)
• Noninterest income declined due to mortgage servicing fair value adjustment

JASPER, IN / ACCESS Newswire / February 12, 2026 / SVB&T Corporation (OTCQX:SVBT), parent company of Springs Valley Bank & Trust Company, today announced 2025 fourth quarter unaudited earnings of $2.00 million or $1.82 earnings per share (EPS), a 52.94% increase over the same prior year period earnings on a per share basis. This fourth quarter 2025 performance translates to a return on average assets (ROAA) of 1.24%, compared to the same prior year period ROAA of 0.83%.

SVB&T Corporation also announced that its Board of Directors have declared a quarterly dividend of $0.28 per share of the Corporation's common stock. The quarterly dividend is payable on or about April 15, 2026, to shareholders of record as of the close of business on March 16, 2026. The dividend declared is a 21.74% annualized increase over the total dividend declared for the 2025 fiscal year.

Net interest income before provision expense for the fourth quarter ended December 31, 2025 was $5.66 million compared to $4.49 million for the same period in 2024. Interest income increased $476,000 compared to the prior year fourth quarter, primarily due to increased loan balances and interest rates on loans resulting from some assets repricing higher from the low rates of 2020 loan originations. Interest expense decreased $699,000 compared to the same prior year quarter, due largely to lower rates on deposits resulting from the Federal Reserve's federal funds rate reductions in the latter half of 2024 and 2025. Provision expense increased $299,000 compared to the prior year fourth quarter to cover growth in the loan portfolio in the fourth quarter of 2025 and higher unfunded commitment balances. Additionally, noninterest income decreased approximately $77,000 to $2.54 million from $2.62 million. The slightly lower income can be attributed to reduced earnings, compared to the prior year fourth quarter, from sold mortgages and servicing fees on sold loans due to a mortgage servicing asset fair value adjustment in the fourth quarter of 2025. As has been in the past, noninterest income generation continues to be a strategic focus of SVB&T's by growing the Financial Advisory Group, increasing sold loan income, expanding electronic banking services, and other avenues, to continue to reduce margin dependence. Noninterest expense decreased $401,000 to $5.19 million from $5.59 million, attributable to decreases in general operating expenses, including salaries, bonuses, and health insurance claims expenditures.

Quarter over trailing quarter earnings decreased approximately $594,000 or 22.93%. The earnings decrease was largely driven by decreased servicing fees on sold loans due to the servicing asset fair value adjustment in the fourth quarter and lower sold mortgage income, as well as increased provision expense on both loans and off balance sheet unfunded commitments and other year-end accrual adjustments, including discretionary profit sharing.

SVB&T Corporation book value has increased from $59.14 per share as of December 31, 2024, to $67.08 as of December 31, 2025, a 13.43% increase. SVB&T Corporation stock closed at $59.00 per share on the OTCQX exchange on December 31, 2025. In May of 2025, the Corporation's Board of Directors reauthorized a share repurchase program through June 1, 2027. Under the program, the Corporation is authorized to repurchase, from time to time as the Corporation deems appropriate, shares of SVB&T Corporation's common stock with an aggregate purchase price of up to $1.00 million. As of the end of the fourth quarter of 2025, 2,100 shares have been repurchased under the newly reapproved plan, with an average purchase price of $47.03.

Total assets increased $4.92 million to $642.73 million on December 31, 2025, compared to December 31, 2024 assets of $637.81 million. Total loans before allowance increased $14.29 million to $493.69 million on December 31, 2025, from $479.40 million on December 31, 2024. The increase in loans in 2025 was primarily a result of commercial loan growth in the fourth quarter. Springs Valley experienced relatively healthy loan demand in 2025; however, the Bank is strategically preserving liquidity for high quality credits, as well as managing loan growth to alleviate some of the pressure on the funding side of the balance sheet as cost of funds remain elevated. Allowance as a percent of total loans was 1.44% as of December 31, 2025, compared to 1.41% as of December 31, 2024. Total deposits decreased $846,000 to $562.23 million on December 31, 2025, from $563.08 million on December 31, 2024. Noninterest-bearing deposits increased by approximately $661,000, while interest-bearing deposits decreased by approximately $1.51 million. Core deposit growth continues to be a strategic focus of Springs Valley's as it is a critical component in generating sustainable, long-term profitability for the institution.

Year to date (YTD) unaudited earnings for the twelve months ended December 31, 2025 was $8.82 million or $8.02 EPS, a 43.99% increase over the same prior year period earnings on a per share basis. This YTD performance translates to a ROAA of 1.38%, compared to the same prior year period ROAA of 1.00%.

Net interest income before provision expense for the twelve months ended December 31, 2025 was $20.83 million compared to $16.96 million for the same period in 2024, an increase of $3.87 million. Interest income increased approximately $1.97 million as compared to the same prior year period, largely due to increased interest rates on loans resulting from the rate environment and assets repricing higher. Additionally, interest expense decreased by $1.90 million over the same period, due largely to lower rates on deposits resulting from the Federal Reserve's federal funds rate reductions in the latter half of 2024 and 2025. YTD provision expense increased by $452,000, compared to the same prior year period. Noninterest income decreased $242,000 to $10.14 million YTD December 2025 from $10.38 million for the same period in 2024. The largest contributing factors to the unfavorable variance were decreased servicing income from sold loans due to 2025 fair value adjustments on the Bank's mortgage servicing asset and decreased income from gain on sale of other real estate owned, as a sizeable gain was recognized in the second quarter of 2024. Growing noninterest income to reduce margin dependence continues to be a strategic focus of Springs Valley Bank & Trust. Noninterest expense decreased $340,000 to $19.85 million YTD December 2025 from $20.19 million for the same period in 2024. This expense decrease was largely driven by lower general operating expenses, the largest of which being decreased salary expense due to staffing and significantly lower health insurance claims expenditures.

President and CEO, J. Craig Buse, commented, "2025 was one of the best years in terms of earnings and profitability in the Bank's history. Margin expansion has been a substantive tailwind driving net interest income higher with both yields on assets rising while cost of funds are decreasing due to a combination of the rate environment and the repricing structure of our assets. We have seen net interest margin (NIM) expansion of roughly 70 basis points when comparing the 2025 fourth quarter NIM to the fourth quarter NIM of 2024. The Bank continues to focus on quality in the credit portfolio, bolstering liquidity, and low cost core deposit growth. Overall, our strategic focus has not changed. Springs Valley continues to focus on relationship-oriented community banking to provide year-over-year financial performance for all stakeholders."

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For more information contact: Ryan Heim, Treasurer & CFO, SVB&T Corporation, at 812.634.4889 or rheim@svbt.bank.

SVB&T Corporation is headquartered at 8482 West State Road 56, French Lick, Indiana 47432 with administrative offices at 1500 Main Street, Jasper, Indiana 47546. Its subsidiary, Springs Valley Bank & Trust Company, has locations in Dubois, Daviess, Gibson, and Orange Counties, offering full-service bank and financial services. Springs Valley has products and services for all types of families and businesses, including checking and savings accounts, certificates of deposit, electronic services, online consumer and mortgage applications, and a variety of other loan options. Springs Valley Bank is a member of FDIC and is an Equal Housing Lender.

In addition, the company has a full-service financial advisory group managed by experienced, talented professionals specializing in estate planning, tax planning, and wealth management. Investment services are also offered by a licensed, professional Springs Valley representative. Trust and investment products are not deposits; not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the depository institution; not insured by any Federal Government Agency; and may lose value - subject to investment risks, including possible loss of the principal amount invested.

More information can be found online at www.svbt.bank. The Corporation's stock is traded on the OTCQX trading platform under ticker symbol SVBT (www.otcmarkets.com).

Information conveyed in this press release regarding SVB&T Corporation's and its subsidiaries' anticipated future performance is forward-looking and therefore involves risks and uncertainties that could cause the results or developments to differ significantly from those indicated in these statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in general and local banking, as well as mortgage conditions, competitive factors specific to markets in which the company and its subsidiaries operate, future interest rate levels, changes in local real estate markets, legislative and regulatory decisions, capital market conditions, and/or other factors.

Selected Consolidated Financial Data of SVB&T Corporation
(In Thousands, Except Shares Outstanding and Per Share Data)

		Unaudited				Audited
		31-Dec				31-Dec
		2025				2024
Assets
Cash and due from banks		$	16,515			$	18,559
Interest-bearing time deposits			0				0
Fed funds sold			33,245				45,770
Available for sale securities			71,756				65,594
Other investments			2,517				2,517
Loans held for sale			875				1,222
Loans net of allowance for credit losses			486,071				471,398
Premises and equipment			5,859				6,016
Bank-owned life insurance			10,753				10,549
Accrued interest receivable			3,379				3,398
Foreclosed assets held for sale			37				49
Mortgage servicing rights			2,329				2,489
Lender risk account (FHLBI)			1,738				1,666
Other assets			7,659				8,583
Total assets		$	642,733			$	637,810
Liabilities and Stockholders' Equity
Noninterest-bearing deposits			88,682				88,021
Interest-bearing deposits			473,550				475,057
Borrowed funds			0				0
Subordinated debentures			0				0
Accrued interest payable and other liabilities			6,751				9,918
Total liabilities		$	568,983			$	572,996
Stockholders' equity			73,750				64,814
Total liabilities and stockholders' equity		$	642,733			$	637,810

		Three Months Ended								Twelve Months Ended
		31-Dec								31-Dec
		2025				2024				2025				2024
Operating Data:
Interest and dividend income		$	9,109			$	8,633			$	35,625			$	33,652
Interest expense			3,446				4,145				14,791				16,693
Net interest income		$	5,663			$	4,488			$	20,834			$	16,959
Provision for credit losses			311				12				570				118
Net interest income after provision for credit losses		$	5,352			$	4,476			$	20,264			$	16,841
Fiduciary activities			1,582				1,361				5,749				5,104
Customer service fees			245				243				982				980
Increase in cash surrender value of life insurance			51				54				204				209
Net gain/(loss) on loan sales			250				450				1,171				1,257
Realized gain/(loss) on securities			0				(7	)			0				(7	)
Other income			417				521				2,029				2,834
Total noninterest income		$	2,545			$	2,622			$	10,135			$	10,377
Salary and employee benefits			2,942				3,349				11,509				12,318
Premises and equipment			599				568				2,326				2,199
Data processing			619				499				2,228				1,983
Deposit insurance premium			77				74				290				277
Professional fees			232				286				793				812
Other expenses			719				813				2,704				2,601
Total noninterest expense		$	5,188			$	5,589			$	19,850			$	20,190
Income before taxes			2,709				1,509				10,549				7,028
Income tax expense			711				210				1,725				921
Net income		$	1,998			$	1,299			$	8,824			$	6,107
Shares outstanding			1,099,358				1,095,956				1,099,358				1,095,956
Average shares - basic			1,099,358				1,095,956				1,099,854				1,096,572
Average shares - diluted			1,099,358				1,095,956				1,099,854				1,096,572
Basic earnings per share		$	1.82			$	1.19			$	8.02			$	5.57
Diluted earnings per share		$	1.82			$	1.19			$	8.02			$	5.57
Other Data:
Yield on average assets			5.68	%			5.50	%			5.59	%			5.49	%
Cost on average assets			2.15	%			2.64	%			2.32	%			2.72	%
Interest rate spread			3.53	%			2.86	%			3.27	%			2.77	%
Net interest margin			3.65	%			2.95	%			3.39	%			2.85	%
Number of full service banking centers			6				6				6				6
Return on average assets			1.24	%			0.83	%			1.38	%			1.00	%
Average assets		$	642,040			$	628,202			$	637,863			$	613,443
Return on average equity			11.11	%			8.08	%			13.04	%			9.84	%
Average equity		$	71,936			$	64,305			$	67,653			$	62,063
Equity to assets ratio (EOP)			11.47	%			10.17	%			11.47	%			10.17	%
Average total deposits		$	562,667			$	554,785			$	562,270			$	536,646
Loans past due 30 to 89 days (still accruing)		$	931			$	1,601			$	931			$	1,601
Loans past due 90 days or more (still accruing)		$	63			$	0			$	63			$	0
Nonaccrual loans		$	599			$	1,279			$	599			$	1,279
Book value per share		$	67.08			$	59.14			$	67.08			$	59.14
Market value per share - end of period close		$	59.00			$	42.25			$	59.00			$	42.25

SOURCE: SVB&T Corp.

View the original press release on ACCESS Newswire

FAQ

What dividend did SVBT announce for April 2026 and when is the record date?

SVBT declared a quarterly dividend of $0.28 per share payable about April 15, 2026. According to the company, the dividend is payable to shareholders of record as of the close of business on March 16, 2026.

How did SVBT perform in Q4 2025 on EPS and return on assets?

SVBT reported Q4 2025 EPS of $1.82 and ROAA of 1.24%. According to the company, EPS rose 52.94% YoY driven by higher net interest income and lower interest expense.

What drove SVBT's year-to-date earnings growth for 2025 (OTCQX:SVBT)?

YTD 2025 EPS rose to $8.02, up 43.99% YoY, mainly from net interest income gains. According to the company, higher loan yields and lower deposit costs increased net interest income by about $3.87 million year-over-year.

Did SVBT change its share repurchase program in 2025 and what activity occurred?

The board reauthorized a repurchase program through June 1, 2027 with up to $1.00 million aggregate purchases. According to the company, 2,100 shares were repurchased under the plan at an average price of $47.03.

How did SVBT's net interest margin and net interest income change in 2025?

SVBT reported a Q4 NIM of 3.65% versus 2.95% a year earlier and YTD net interest income of $20.83M. According to the company, asset repricing and lower deposit rates expanded margin by roughly 70 basis points YoY.

What negative items affected SVBT's noninterest income in Q4 2025?

Noninterest income declined due to lower sold mortgage income and servicing fees from a mortgage servicing asset fair value adjustment. According to the company, the fair value adjustment materially reduced sold-loan servicing income in the fourth quarter.