SVB&T Corporation, Parent Company of Springs Valley Bank & Trust Company, Reports 2026 Third Quarter and Year to Date Earnings

Rhea-AI Summary

SVB&T (OTCQX:SVBT) reported unaudited third-quarter 2026 basic earnings per share of $3.07, up 30.64% from a year earlier. Net income was $3.389 million versus $2.592 million. Net interest income rose to $6.247 million from $5.347 million, while net interest margin widened to 3.83% from 3.48%. Noninterest income increased to $3.203 million, but noninterest expense rose to $5.313 million.

Nine-month net income reached $9.414 million, with basic EPS of $8.54, up 37.52% year over year. Nine-month credit-loss provision increased to $401,000 from $259,000. At September 30, assets were $678.637 million and deposits were $592.49 million, versus $643.475 million and $562.45 million at year-end 2025. Loans before allowance increased to $522.48 million from $494.09 million. Management said net interest margin was beginning to plateau and the bank was managing loan growth to ease funding pressure.

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Positive

• Moderate pointThird-quarter basic EPS rose 30.64% to $3.07; net income reached $3.389 million versus $2.592 million.
• Moderate pointThird-quarter net interest income increased to $6.247 million from $5.347 million a year earlier.
• Moderate pointThird-quarter noninterest income increased to $3.203 million from $2.586 million a year earlier.
• Moderate pointThird-quarter net interest margin widened to 3.83% from 3.48% a year earlier.
• Moderate pointTotal assets increased to $678.637 million at September 30, 2026, from $643.475 million at year-end 2025.
• Moderate pointLoans before allowance increased $28.39 million to $522.48 million since year-end 2025, primarily in commercial real estate.
• Moderate pointDeposits increased $30.04 million to $592.49 million since year-end 2025, primarily through noninterest-bearing deposits.
• Moderate pointStockholders' equity increased to $79.530 million at September 30, 2026, from $73.749 million at year-end 2025.

16 minor points

• Minor pointNine-month basic EPS rose 37.52% to $8.54; net income reached $9.414 million versus $6.826 million.
• Minor pointThird-quarter earnings increased approximately $352,000, or 11.58%, over the preceding quarter.
• Minor pointNine-month net interest income increased to $18.039 million from $15.171 million a year earlier.
• Minor pointNine-month noninterest income increased to $9.195 million from $7.590 million a year earlier.
• Minor pointNine-month net interest margin widened to 3.82% from 3.30% a year earlier.
• Minor pointThird-quarter credit-loss provision decreased to $45,000 from $128,000 a year earlier.
• Minor pointThird-quarter return on average assets improved to 2.02% from 1.64% a year earlier.
• Minor pointNine-month return on average assets improved to 1.91% from 1.43% a year earlier.
• Minor pointThird-quarter return on average equity increased to 16.96% from 15.35% a year earlier.
• Minor pointNine-month return on average equity increased to 16.20% from 13.75% a year earlier.
• Minor pointPeriod-end equity-to-assets ratio increased to 11.72% from 11.14% at September 30, 2025.
• Minor pointBook value per share increased 12.03% to $72.09 from $64.35 at September 30, 2025.
• Minor pointLoans past due 30–89 days declined to $852,000 from $2.066 million at September 30, 2025.
• Minor pointLoans past due at least 90 days, still accruing interest, declined to $544,000 from $609,000 a year earlier.
• Minor pointNonaccrual loans declined to $283,000 from $584,000 at September 30, 2025.
• Minor pointRepurchases under the reapproved plan reached 2,100 shares at an average price of $47.03.

Negative

• Moderate pointThird-quarter noninterest expense increased to $5.313 million from $5.095 million a year earlier.
• Moderate pointThird-quarter income tax expense increased to $703,000 from $118,000 a year earlier.
• Moderate pointManagement reported net interest margin beginning to plateau in the third quarter of 2026.
• Moderate pointElevated funding costs prompted the bank to manage loan growth and preserve liquidity for high-quality credits.
• Minor pointNine-month noninterest expense increased to $15.539 million from $14.662 million a year earlier.

2 minor points

• Minor pointNine-month credit-loss provision increased to $401,000 from $259,000 a year earlier.
• Minor pointNine-month income tax expense increased to $1.880 million from $1.014 million a year earlier.

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JASPER, IN / ACCESS Newswire / November 12, 2026 / SVB&T Corporation (OTCQX:SVBT), parent company of Springs Valley Bank & Trust Company, today announced 2026 third quarter unaudited earnings of $3.39 million or $3.07 basic earnings per share (EPS), a 30.64% increase over the same prior year period earnings on a per share basis. This 2026 third quarter performance translates to a return on average assets (ROAA) of 2.02%, compared to the same prior year period ROAA of 1.64%.

Net interest income before provision expense for the third quarter ended September 30, 2026 was $6.25 million compared to $5.35 million for the same period in 2025. Interest income increased $706,000 compared to the prior year third quarter, primarily due to increased loan balances as well as higher interest rates on loans resulting from a combination of assets repricing higher and new originations at interest rates higher than the Bank's historical average loan portfolio rate. Interest expense decreased $194,000 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 2025. Provision expense decreased $83,000 compared to the prior year third quarter. Additionally, noninterest income increased approximately $617,000 to $3.20 million from $2.59 million. The higher income can be attributed to increased earnings, compared to the prior year third quarter, from the Financial Advisory Group, sold mortgages, and servicing fees on sold loans primarily due to mortgage servicing asset fair value adjustments. 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 increased $218,000 to $5.31 million from $5.09 million, attributable to increases in general operating expenses, including salaries and core processing expenditures.

Quarter over trailing quarter earnings increased approximately $352,000 or 11.58%. The earnings increase was largely driven by higher net interest income and Financial Advisory Group income, as well as lower health insurance expenditures in the third quarter of 2026.

SVB&T Corporation book value has increased from $64.35 per share as of September 30, 2025, to $72.09 as of September 30, 2026, a 12.03% increase. SVB&T Corporation stock closed at $72.99 per share on the OTCQX exchange on September 30, 2026. 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 third quarter of 2026, 2,100 shares have been repurchased under the reapproved plan, with an average purchase price of $47.03.

Total assets increased $35.16 million to $678.64 million on September 30, 2026, compared to December 31, 2025 assets of $643.48 million. Total loans before allowance increased $28.39 million to $522.48 million on September 30, 2026, from $494.09 million on December 31, 2025. The growth in loans in 2026 occurred primarily in commercial real estate. Springs Valley has experienced healthy loan demand in 2026; 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 1.49% as of September 30, 2026, compared to 1.37% as of December 31, 2025. Total deposits increased $30.04 million to $592.49 million on September 30, 2026, from $562.45 million on December 31, 2025. Noninterest-bearing deposits increased by approximately $27.03 million, driven primarily by growth in small business DDA's, while interest-bearing deposits increased by approximately $3.01 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 nine months ended September 30, 2026 was $9.41 million or $8.54 basic EPS, a 37.52% increase over the same prior year period earnings on a per share basis. This YTD performance translates to a ROAA of 1.91%, compared to the same prior year period ROAA of 1.43%.

Net interest income before provision expense for the nine months ended September 30, 2026 was $18.04 million compared to $15.17 million for the same period in 2025, an increase of $2.87 million. Interest income increased approximately $1.64 million compared to the same prior year period, due to higher loan balances and increased interest rates on loans resulting from the rate environment and assets repricing higher. Additionally, interest expense decreased by $1.23 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 2025. YTD provision expense increased by $142,000, compared to the same prior year period. Noninterest income increased $1.61 million to $9.20 million YTD September 2026 from $7.59 million for the same period in 2025. The largest contributing factors to the favorable variance were increased servicing income from sold loans including accompanying fair value adjustments on the Bank's mortgage servicing asset, Financial Advisory Group income, and sold mortgage income. Growing noninterest income to reduce margin dependence continues to be a strategic focus of Springs Valley Bank & Trust. Noninterest expense increased $877,000 to $15.54 million YTD September 2026 from $14.66 million for the same period in 2025. This expense increase was largely driven by higher general operating expenses, the largest of which being increased salary expense, health insurance claims, and core processing expenditures.

President and CEO, J. Craig Buse, commented, "2026 is trending to be the best year of earnings and profitability in the history of SVB&T Corporation. Increased earnings from net interest margin, the Financial Advisory Group, and sold mortgages continue to be substantive drivers of 2026 performance. We are beginning to see net interest margin plateau in the third quarter of 2026 as expected future rate increases and geopolitical events are affecting both long and short term rates. Overall, the Bank continues to focus on quality in the credit portfolio and low cost core deposit growth, which we believe are all fundamental drivers of the long term profitability of SVB&T."

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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
		30-Sep								31-Dec
		2026				2025				2025
Assets
Cash and due from banks		$	13,646			$	18,960			$	16,516
Interest-bearing time deposits			0				0				0
Fed funds sold			40,984				40,445				33,245
Available for sale securities			73,013				69,546				71,756
Other investments			2,517				2,517				2,517
Loans held for sale			1,117				552				875
Loans net of allowance for credit losses			513,981				470,230				486,472
Premises and equipment			5,514				5,910				5,859
Bank-owned life insurance			10,899				10,702				10,753
Accrued interest receivable			4,422				3,842				3,392
Foreclosed assets held for sale			22				157				37
Mortgage servicing rights			2,783				2,431				2,329
Lender risk account (FHLBI)			1,731				1,710				1,738
Other assets			8,008				8,230				7,986
Total assets		$	678,637			$	635,232			$	643,475
Liabilities and Stockholders' Equity
Noninterest-bearing deposits			115,928				87,719				88,903
Interest-bearing deposits			476,563				469,309				473,550
Borrowed funds			0				0				0
Subordinated debentures			0				0				0
Accrued interest payable and other liabilities			6,616				7,457				7,273
Total liabilities		$	599,107			$	564,485			$	569,726
Stockholders' equity			79,530				70,747				73,749
Total liabilities and stockholders' equity		$	678,637			$	635,232			$	643,475

		Three Months Ended								Nine Months Ended
		30-Sep								30-Sep
		2026				2025				2026				2025
Operating Data:
Interest and dividend income		$	9,700			$	8,994			$	28,157			$	26,517
Interest expense			3,453				3,647				10,118				11,346
Net interest income		$	6,247			$	5,347			$	18,039			$	15,171
Provision for credit losses			45				128				401				259
Net interest income after provision for credit losses		$	6,202			$	5,219			$	17,638			$	14,912
Fiduciary activities			1,719				1,434				4,972				4,167
Customer service fees			280				258				756				737
Increase in cash surrender value of life insurance			48				50				147				153
Net gain/(loss) on loan sales			430				350				1,293				921
Realized gain/(loss) on securities			0				0				0				0
Other income			726				494				2,027				1,612
Total noninterest income		$	3,203			$	2,586			$	9,195			$	7,590
Salary and employee benefits			3,060				2,929				9,005				8,568
Premises and equipment			649				597				1,882				1,727
Data processing			625				593				1,823				1,609
Deposit insurance premium			73				75				215				213
Professional fees			197				179				585				561
Other expenses			709				722				2,029				1,984
Total noninterest expense		$	5,313			$	5,095			$	15,539			$	14,662
Income before taxes			4,092				2,710				11,294				7,840
Income tax expense			703				118				1,880				1,014
Net income		$	3,389			$	2,592			$	9,414			$	6,826
Shares outstanding			1,103,149				1,099,358				1,103,149				1,099,358
Average shares - basic			1,103,149				1,100,842				1,102,582				1,100,021
Average shares - diluted			1,115,091				1,100,842				1,114,939				1,100,021
Basic earnings per share		$	3.07			$	2.35			$	8.54			$	6.21
Diluted earnings per share		$	3.04			$	2.35			$	8.44			$	6.21
Other Data:
Yield on average assets			5.78	%			5.68	%			5.71	%			5.56	%
Cost on average assets			2.06	%			2.30	%			2.05	%			2.38	%
Interest rate spread			3.72	%			3.38	%			3.66	%			3.18	%
Net interest margin			3.83	%			3.48	%			3.82	%			3.30	%
Number of full service banking centers			6				6				6				6
Return on average assets			2.02	%			1.64	%			1.91	%			1.43	%
Average assets		$	671,647			$	633,690			$	657,253			$	636,456
Return on average equity			16.96	%			15.35	%			16.20	%			13.75	%
Average equity		$	79,922			$	67,531			$	77,501			$	66,209
Equity to assets ratio (EOP)			11.72	%			11.14	%			11.72	%			11.14	%
Average total deposits		$	584,942			$	558,556			$	573,044			$	562,136
Loans past due 30 to 89 days (still accruing)		$	852			$	2,066			$	852			$	2,066
Loans past due 90 days or more (still accruing)		$	544			$	609			$	544			$	609
Nonaccrual loans		$	283			$	584			$	283			$	584
Book value per share		$	72.09			$	64.35			$	72.09			$	64.35
Market value per share - end of period close		$	72.99			$	47.50			$	72.99			$	47.50

SOURCE: SVB&T Corp.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were SVBT's third-quarter 2026 earnings?

SVB&T reported unaudited third-quarter net income of $3.389 million and basic earnings per share of $3.07. Basic EPS increased 30.64% from the same quarter in 2025, when net income was $2.592 million and basic EPS was $2.35.

How much did SVBT earn in the first nine months of 2026?

SVB&T reported unaudited nine-month net income of $9.414 million and basic EPS of $8.54, up 37.52% on a per-share basis from the same period in 2025. The prior-year period produced net income of $6.826 million and basic EPS of $6.21.

What are the terms of SVBT's reauthorized share repurchase program?

SVB&T's reauthorized program permits purchases of up to $1.00 million of common stock through June 1, 2027. The board reauthorized the program in May 2025. Through the end of the third quarter of 2026, 2,100 shares had been repurchased at an average price of $47.03.

What drove SVBT's noninterest income growth in 2026?

Higher Financial Advisory Group income, sold mortgage income and servicing income from sold loans drove SVB&T's noninterest income growth. Servicing income included fair value adjustments to mortgage servicing assets. The company plans to grow noninterest income to reduce its dependence on interest margins.

How did SVBT's loan-loss allowance change in 2026?

The allowance as a percentage of total loans increased to 1.49% at September 30, 2026, from 1.37% at December 31, 2025.