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

Rhea-AI Summary

SVB&T Corporation (OTCQX:SVBT) reported unaudited second quarter 2026 net income of $3.04 million, or $2.75 basic EPS, up 41.75% year over year. Q2 return on average assets was 1.84% versus 1.34% a year earlier, with net interest income of $5.87 million compared to $5.13 million.

Interest income rose $469,000 on higher loan balances and yields, while interest expense fell $279,000 on lower deposit rates. Noninterest income increased $763,000 to $3.13 million, driven by the Financial Advisory Group, sold mortgages, and mortgage servicing asset revaluations. Noninterest expense rose $424,000 to $5.29 million.

For the first half of 2026, net income was $6.03 million, or $5.47 EPS, up 42.08% per share year over year, with ROAA of 1.85%. Total assets reached $673.79 million, loans $516.31 million, deposits $588.24 million, and book value per share increased 18.55% to $72.34.

Positive

• Q2 2026 EPS growth +41.75% year over year to $2.75 basic
• YTD 2026 EPS $5.47, up 42.08% per share versus prior year period
• Net interest income Q2 up to $5.87M from $5.13M; YTD to $11.79M from $9.82M
• Interest expense down $279K in Q2 and $1.03M YTD versus 2025
• Noninterest income Q2 up $763K to $3.13M; YTD up $989K to $5.99M
• Book value per share up 18.55% to $72.34; equity-to-assets 11.84%
• Total assets up $30.31M to $673.79M; loans up $22.22M; deposits up $25.79M
• Asset quality nonaccrual loans down to $298K; 30–89 day past due to $625K

Negative

• Provision for credit losses Q2 up $50K; YTD up $225K versus prior year
• Noninterest expense Q2 up $424K to $5.29M; YTD up $660K to $10.23M
• Noninterest-bearing deposits down about $516K since December 31, 2025

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JASPER, IN / ACCESS Newswire / August 13, 2026 / SVB&T Corporation (OTCQX:SVBT), parent company of Springs Valley Bank & Trust Company, today announced 2026 second quarter unaudited earnings of $3.04 million or $2.75 basic earnings per share (EPS), a 41.75% increase over the same prior year period earnings on a per share basis. This 2026 second quarter performance translates to a return on average assets (ROAA) of 1.84%, compared to the same prior year period ROAA of 1.34%.

Net interest income before provision expense for the second quarter ended June 30, 2026 was $5.87 million compared to $5.12 million for the same period in 2025. Interest income increased $469,000 compared to the prior year second 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 $279,000 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 increased $50,000 compared to the prior year second quarter to cover growth in the loan portfolio and higher unfunded commitment balances. Additionally, noninterest income increased approximately $763,000 to $3.13 million from $2.37 million. The higher income can be attributed to increased earnings, compared to the prior year second 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 $424,000 to $5.29 million from $4.87 million, attributable to increases in general operating expenses, including salaries, health insurance claims, and core processing expenditures.

Quarter over trailing quarter earnings increased approximately $50,000 or 1.68%. The earnings increase was largely driven by lower provision expense and higher sold mortgage income in the second quarter of 2026.

SVB&T Corporation book value has increased from $61.02 per share as of June 30, 2025, to $72.34 as of June 30, 2026, a 18.55% increase. SVB&T Corporation stock closed at $66.72 per share on the OTCQX exchange on June 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 second quarter of 2026, 2,100 shares have been repurchased under the reapproved plan, with an average purchase price of $47.03.

Total assets increased $30.31 million to $673.79 million on June 30, 2026, compared to December 31, 2025 assets of $643.48 million. Total loans before allowance increased $22.22 million to $516.31 million on June 30, 2026, from $494.09 million on December 31, 2025. The growth in loans in 2026 occurred primarily in commercial real estate and commercial lines of credit, as excess cash held throughout much of 2025 was deployed in those areas. 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 1.50% as of June 30, 2026, compared to 1.37% as of December 31, 2025. Total deposits increased $25.79 million to $588.24 million on June 30, 2026, from $562.45 million on December 31, 2025. Noninterest-bearing deposits decreased by approximately $516,000, while interest-bearing deposits increased by approximately $26.30 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 six months ended June 30, 2026 was $6.03 million or $5.47 EPS, a 42.08% increase over the same prior year period earnings on a per share basis. This YTD performance translates to a ROAA of 1.85%, compared to the same prior year period ROAA of 1.33%.

Net interest income before provision expense for the six months ended June 30, 2026 was $11.79 million compared to $9.82 million for the same period in 2025, an increase of $1.97 million. Interest income increased approximately $934,000 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 $1.03 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 $225,000, compared to the same prior year period. Noninterest income increased $989,000 to $5.99 million YTD June 2026 from $5.00 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 $660,000 to $10.23 million YTD June 2026 from $9.57 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 continues to be one of the best years in terms of earnings and profitability in the history of SVB&T Corporation. The Bank continues to click on all cylinders. Margin expansion was a substantive tailwind in 2025, and it has continued to bolster earnings in 2026 as well, with other material contributions from the Financial Advisory Group and sold mortgage income. We are beginning to see net interest margin plateau in the second quarter of 2026 as expected future rate increases are affecting the short end of the curve and deposit pricing, and the asset repricing cycle from 2020 and 2021 interest rate lows is ending. 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."

##

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-Jun								31-Dec
		2026				2025				2025
Assets
Cash and due from banks		$	21,485			$	19,669			$	16,516
Interest-bearing time deposits			0				0				0
Fed funds sold			33,919				51,544				33,245
Available for sale securities			74,995				65,309				71,756
Other investments			2,517				2,517				2,517
Loans held for sale			882				1,088				875
Loans net of allowance for credit losses			508,057				469,565				486,472
Premises and equipment			5,536				5,832				5,859
Bank-owned life insurance			10,851				10,652				10,753
Accrued interest receivable			3,995				3,378				3,392
Foreclosed assets held for sale			37				296				37
Mortgage servicing rights			2,595				2,433				2,329
Lender risk account (FHLBI)			1,727				1,699				1,738
Other assets			7,196				8,955				7,986
Total assets		$	673,792			$	642,937			$	643,475
Liabilities and Stockholders' Equity
Noninterest-bearing deposits			88,387				96,945				88,903
Interest-bearing deposits			499,851				471,739				473,550
Borrowed funds			0				0				0
Subordinated debentures			0				0				0
Accrued interest payable and other liabilities			5,747				7,036				7,273
Total liabilities		$	593,985			$	575,720			$	569,726
Stockholders' equity			79,807				67,217				73,749
Total liabilities and stockholders' equity		$	673,792			$	642,937			$	643,475

		Three Months Ended								Six Months Ended
		30-Jun								30-Jun
		2026				2025				2026				2025
Operating Data:
Interest and dividend income		$	9,377			$	8,908			$	18,457			$	17,523
Interest expense			3,504				3,783				6,665				7,699
Net interest income		$	5,873			$	5,125			$	11,792			$	9,824
Provision for credit losses			78				28				356				131
Net interest income after provision for credit losses		$	5,795			$	5,097			$	11,436			$	9,693
Fiduciary activities			1,642				1,329				3,253				2,733
Customer service fees			258				250				476				479
Increase in cash surrender value of life insurance			49				51				99				103
Net gain/(loss) on loan sales			523				327				864				571
Realized gain/(loss) on securities			0				0				0				0
Other income			657				409				1,301				1,118
Total noninterest income		$	3,129			$	2,366			$	5,993			$	5,004
Salary and employee benefits			3,092				2,773				5,945				5,639
Premises and equipment			597				569				1,233				1,129
Data processing			631				582				1,198				1,016
Deposit insurance premium			71				72				142				138
Professional fees			206				188				389				382
Other expenses			695				684				1,320				1,263
Total noninterest expense		$	5,292			$	4,868			$	10,227			$	9,567
Income before taxes			3,632				2,595				7,202				5,130
Income tax expense			594				454				1,177				896
Net income		$	3,038			$	2,141			$	6,025			$	4,234
Shares outstanding			1,103,149				1,101,458				1,103,149				1,101,458
Average shares - basic			1,103,149				1,101,458				1,102,290				1,099,604
Average shares - diluted			1,115,091				1,101,458				1,114,858				1,099,604
Basic earnings per share		$	2.75			$	1.94			$	5.47			$	3.85
Diluted earnings per share		$	2.72			$	1.94			$	5.40			$	3.85
Other Data:
Yield on average assets			5.69	%			5.57	%			5.68	%			5.49	%
Cost on average assets			2.13	%			2.37	%			2.05	%			2.41	%
Interest rate spread			3.56	%			3.20	%			3.63	%			3.08	%
Net interest margin			3.72	%			3.33	%			3.81	%			3.21	%
Number of full service banking centers			6				6				6				6
Return on average assets			1.84	%			1.34	%			1.85	%			1.33	%
Average assets		$	658,932			$	639,418			$	649,936			$	637,862
Return on average equity			15.66	%			12.95	%			15.80	%			12.92	%
Average equity		$	77,559			$	66,127			$	76,270			$	65,537
Equity to assets ratio (EOP)			11.84	%			10.45	%			11.84	%			10.45	%
Average total deposits		$	575,144			$	565,955			$	566,997			$	563,956
Loans past due 30 to 89 days (still accruing)		$	625			$	1,615			$	625			$	1,615
Loans past due 90 days or more (still accruing)		$	436			$	605			$	436			$	605
Nonaccrual loans		$	298			$	699			$	298			$	699
Book value per share		$	72.34			$	61.02			$	72.34			$	61.02
Market value per share - end of period close		$	66.72			$	43.00			$	66.72			$	43.00

SOURCE: SVB&T Corp.

View the original press release on ACCESS Newswire

FAQ

How did SVB&T (OTCQX:SVBT) perform financially in Q2 2026?

SVB&T reported Q2 2026 net income of $3.04 million, or $2.75 basic EPS, up 41.75% year over year. According to SVB&T, return on average assets reached 1.84%, supported by higher net interest income and stronger noninterest income.

What were SVB&T’s year-to-date 2026 earnings and profitability metrics?

For the six months ended June 30, 2026, SVB&T earned $6.03 million, or $5.47 EPS, a 42.08% per share increase. According to SVB&T, year-to-date return on average assets was 1.85%, compared with 1.33% for the same period in 2025.

How did SVB&T’s loans, deposits, and assets change by June 30, 2026?

Total assets reached $673.79 million, up $30.31 million since year-end 2025. According to SVB&T, total loans before allowance rose to $516.31 million and total deposits to $588.24 million, with most loan growth in commercial real estate and commercial lines.

What drove SVB&T’s net interest income and margin in 2026?

Net interest income rose to $5.87 million in Q2 and $11.79 million year-to-date. According to SVB&T, higher loan balances and yields boosted interest income, while lower deposit rates reduced interest expense, supporting a net interest margin of 3.72% in Q2 2026.

How strong is SVB&T’s capital and book value as of Q2 2026?

Book value per share increased to $72.34 from $61.02, an 18.55% rise over 12 months. According to SVB&T, stockholders’ equity totaled $79.81 million, and the equity-to-assets ratio stood at 11.84% at June 30, 2026.

What is SVB&T’s asset quality picture at June 30, 2026?

Nonaccrual loans declined to $298,000, down from $699,000 a year earlier. According to SVB&T, loans 30–89 days past due were $625,000 and loans 90+ days past due were $436,000, with allowance at 1.50% of total loans.

Did SVB&T repurchase shares under its buyback program by Q2 2026?

Yes. Under its reauthorized share repurchase program, SVB&T had repurchased 2,100 shares by the end of Q2 2026. According to SVB&T, the average purchase price was $47.03, against an authorization of up to $1.00 million in aggregate purchase price.