Calvin B. Taylor Bankshares, Inc. Reports Fourth Quarter and Year End Financial Results for 2025

Rhea-AI Summary

Calvin B. Taylor Bankshares (OTCQX:TYCB) reported 4Q25 net income $3.6M ($1.34/share) and 2025 net income $15.4M ($5.66/share). Net interest income rose to $35.5M for 2025 and net interest margin improved to 3.82%. Deposits grew 4.4% and loans grew 5.0% for the year.

Management returned capital via a 5% dividend increase and repurchased 62,789 shares ($3.27M) in 2025. Credit metrics remained strong with low charge-offs and an allowance of 0.76% of loans; one $2.0M troubled loan modification is being monitored.

Positive

• Net income 2025 of $15.4M (+17.9% vs 2024)
• Net interest income $35.5M for 2025 (+16.4%)
• Net interest margin 3.82% for 2025 (up 26 bps)
• Deposit growth $35.6M (4.4%) year-over-year
• Share repurchases of 62,789 shares ($3.27M) in 2025

Negative

• Noninterest expense increased 13.7% to $19.24M in 2025
• Provision for credit losses rose to $1.4M in 2025 (+72.8%)
• First accruing troubled loan modification of $2.0M in 4Q25

BERLIN, MD / ACCESS Newswire / March 4, 2026 / Calvin B. Taylor Bankshares, Inc. (the "Company") (OTCQX:TYCB), the holding company of Calvin B. Taylor Bank (the "Bank"), today reported net income for the fourth quarter 2025 ("4Q25") of $3.6 million, or $1.34 per share compared to net income of $4.2 million, or $1.53 per share for the third quarter of 2025 ("3Q25"), and net income of $3.5 million, or $1.29 per share for the fourth quarter of 2024 ("4Q24"). Net income for 2025 was $15.4 million or $5.66 per share, compared to net income for 2024 of $13.1 million, or $4.82 per share.

2025 Fourth Quarter and Year-End Highlights

• Margins and Profitability - The Company reported a net interest margin for the fourth quarter of 2025 of 3.90% for the 4Q25, compared to 3.84% for the 3Q25. For the year ended December 31, 2025, net interest margin was 3.82% when compared to 3.56% for the year ended December 31, 2024. Return on average assets ("ROAA") for the year ended December 31, 2025, was 1.58%, compared to the year ended December 31, 2024, of 1.47%.

• Net Interest Income ("NII") - NII for 4Q25 improved $162 thousand or 1.8%, when compared to 3Q25. For the year ended December 31, 2025, NII was $35.5 million and is $5.0 million, or 16.4% higher than year ended December 31, 2024. NII for the quarter and year ended December 31, 2025, was driven higher by increases in average balances and yields on loans.

• Deposit and Loan Growth - Deposit growth for the year ended December 31, 2025, of $35.6 million, or 4.4% over December 31, 2024, was the primary funding source for loan growth in 2025 of $31.3 million, or 5.0%. The ability to source low-cost deposits allowed for overall improved profitability metrics.

• Capital Returns - Stockholders experienced a 5% annual increase in cash dividends for both 2025 and 2024. Stockholder returns were further enhanced by significant stock repurchase activity, including 62,789 shares, or $3.3 million, repurchased in 2025 and 28,158 shares, or $1.2 million, repurchased in 2024. The Company's current stock repurchase program extends through December 2026 and authorizes the purchase of up to 10% of its outstanding common stock, of which 8.6% remains available for repurchase.

Chief Executive Officer and President M. Dean Lewis commented, "Our team delivered strong full year results, highlighted by a 24.5% increase in earnings per share, balanced loan and deposit growth, and disciplined balance sheet management. Just as importantly, we achieved this financial performance while continuing to make strategic investments in technology, talent, and innovative banking solutions that enhance both customer and employee experience. Fourth‑quarter results reflected a stable net interest margin, strong credit quality, and prudent expense control, providing a solid foundation heading into 2026 and positioning the Company for sustainable long-term growth."

Quarterly Results of Operations

Quarterly net income was $3.6 million for 4Q25, as compared to $4.2 million for 3Q25 and $3.5 million for 4Q24. A summary of the quarterly results of operations are included in the table and comments that follow.

		For the Three Months Ended												Prior Year Change				Prior Quarter Change
		Dec. 31, 2025				Dec. 31, 2024				Sept. 30, 2025
Results of Operations
Net interest income		$	9,399,072			$	8,308,637			$	9,236,650				13.1	%			1.8	%
Provision for credit losses			200,000				260,000				400,000				-				(50.0	)
Noninterest income			895,916				1,313,696				1,223,011				(31.8	)			(26.7	)
Noninterest expense			5,444,112				4,855,354				4,697,079				12.1				15.9
Income before income taxes			4,650,876				4,506,979				5,362,582				3.2				(13.3	)
Income tax expense			1,014,339				1,001,000				1,193,500				1.3				(15.0	)
Net income		$	3,636,537			$	3,505,979			$	4,169,082				3.7	%			(12.8	)%
Yield on earning assets			5.04	%			5.48	%			4.99	%			(44	)bp			5	bp
Cost of interest-bearing deposits			1.76				1.83				1.79				(7	)			(3	)
Net interest margin			3.90				3.63				3.84				27				6
Return on average assets			1.44				1.47				1.64				(3	)			(20	)
Return on average equity			11.19				12.18				13.27				(99	)			(208	)
Efficiency ratio			52.88	%			50.46	%			44.89	%			242	bp			799	bp

Net interest income increased $162 thousand, or 1.8% in 4Q25, as compared to 3Q25, due to increases in interest and fees on loans of $135 thousand and interest on investment securities of $81 thousand, partially offset by a decrease in interest income on deposits with other banks of $60 thousand. The higher interest income on loans in 4Q25 was due to a combination of higher average balances in residential real estate loans of $7.8 million, and an improved yield on commercial real estate loans of 5 bps. Net interest income increased $1.1 million, or 13.1% in 4Q25, as compared to 4Q24, primarily due to an increase in average loan balances of $39.5 million coupled with an increase in loan yields by 25 bps. In addition, the average balance on investment securities increased $20.9 million and the average yield on these securities improved 76 bps.

Provision expense for credit losses was $200 thousand for 4Q25, compared to $400 thousand for 3Q25 and $260 for 4Q24. Loans past due 90 days or more decreased to 0.05% of total loans at the end of 4Q25, when compared to 0.15% at the end of 3Q25 and 0.18% at the end of 4Q24. During the 4Q25, the bank reported its first accruing troubled loan modification ("TLM") which consists of one borrower with five loans. These loans consist of both residential and commercial credits with a combined balance of $2.0 million. These loans were granted a six-month interest-only period concession and are current based on the modified terms. The Company continues to monitor these loans carefully. During 4Q25, the Company recorded net charge‑offs totaling $21 thousand, compared to $55 thousand for 3Q25 and $31 thousand for 4Q24. The charge-offs in 4Q25 are long-standing credits with minimal balances.

Noninterest income decreased in 4Q25 by $327 thousand, or 26.7%, as compared to 3Q25, and decreased $418 thousand, or 31.8%, as compared to 4Q24. The decrease in 4Q25 when compared to the 3Q25 was primarily due to the sale of an equity investment by the Company that resulted in a gain of $243 thousand in 3Q25. The decrease in 4Q25 when compared to 4Q24 was primarily due to the sale of other real estate owned property that resulted in a gain of $518 thousand in 4Q24. Both gains were nonrecurring transactions and are not related to core operational activities.

Noninterest expense increased by $747 thousand, or 15.9% in 4Q25, as compared to 3Q25. The increase was primarily related to higher salaries and wages of $392 thousand, accelerated donation expenses of $132 thousand and higher professional fees of $102 thousand. Higher salaries and wages in 4Q25 are related to year-end bonuses and additional hiring to support succession planning, reflecting the Company's commitment to strengthening its talent pipeline and organizational depth. The accelerated donation expenses reflect fulfillment of existing pledges to local nonprofits made ahead of new 2026 limitations on donation deductibility under the Big Beautiful Bill. The increase in professional fees reflects additional consulting required to support several ongoing strategic and operational projects.

Noninterest expenses increased in 4Q25 by $589 thousand, or 12.1%, as compared to 4Q24, which related to increases in data processing costs and professional fees related to a core conversion upgrade in late 2024, salaries and wages to remain competitive in the current labor market, and the addition of a new branch in Cape Charles, Virginia which increased overall operating costs.

Quarterly per share data, dividend payout ratio, and repurchase of stock by the Company for each period is included in the following table. The amount and timing of future stock repurchases will depend upon several factors including regulatory capital requirements, market value of the Company's stock, general market and economic conditions, liquidity, and other relevant considerations, as determined by the Company.

		For the Three Months Ended												Prior Year Change				Prior Quarter Change
		Dec. 31, 2025				Dec. 31, 2024				Sept. 30, 2025
Per Share Data
Basic and diluted net income per common share		$	1.34			$	1.29			$	1.53				4.5	%			(12.2	)%
Dividends paid per common share			0.37				0.36				0.37				2.8				-
Market value at period end			54.50				48.00				56.00				13.5				(2.7	)
Book value per common share at period end			48.17				42.01				47.06				14.7				2.4
Book value per common share excluding OCI			49.91				45.79				48.94				9.0				2.0
Dividend payout ratio			27.59	%			28.00	%			24.16	%			(40	)bp			343	bp
Number of shares repurchased			51,429				800				7,500				6,328.6	%			585.7	%
Repurchase amount		$	2,687,781			$	36,036			$	394,275				7,358.6				581.7
Average repurchase price		$	52.26			$	45.04			$	52.57				16.0	%			(0.6	)%

Year to Date Results of Operations

Net income was $15.4 million for the year ended December 31, 2025, as compared to $13.1 million for the year ended December 31, 2024, an increase of $2.3 million, or 17.9%. A summary of the year-to-date results of operations are included in the table and comments below.

		For the Twelve Months Ended
		Dec. 31, 2025				Dec. 31, 2024				Change
Results of Operations
Net interest income		$	35,499,098			$	30,496,313				16.4	%
Provision for credit losses			1,400,000				810,000				72.8
Noninterest income			4,992,170				3,939,829				26.7
Noninterest expense			19,244,029				16,924,502				13.7
Income before income taxes			19,847,239				16,701,640				18.8
Income tax expense			4,454,339				3,658,000				21.8
Net income		$	15,392,900			$	13,043,640				18.0
Yield on earning assets			4.97	%			4.75	%			22.0	bp
Cost of interest-bearing deposits			1.79				1.89				(10.0	)
Net interest margin			3.82				3.56				26.0
Return on average assets			1.58				1.46				11.7
Return on average equity			12.54				12.01				52.7
Efficiency ratio			46.64	%			48.62	%			(197.9	)bp

Net interest income increased $5.0 million, or 16.4%, for the year ended December 31, 2025, as compared to the prior year, and was attributable to increases in interest income from loans and investment securities, partially offset by higher interest expense on deposits and lower interest income on deposits with other banks. The average balance of loans in 2025 increased $52.7 million and total loan yields improved 22 bps, when compared to 2024.

In addition, the average balance of investment securities increased $18.9 million, and yields improved 64 bps, when compared to the prior year. Deposit costs increased $516 thousand, or 5.1%, in 2025, the result of growth in average interest-bearing deposits of $60.2 million and partially offset by a 10 bps reduction in rates paid on interest-bearing deposits.

The provision for credit losses of $1.4 million recorded for the year ended December 31, 2025, was the result of significant loan growth and strengthened assessments of credit metrics and risk grading as well as refined changes to the qualitative factors in the CECL model in 2025. Enhanced credit and work out strategies resulted in total net-charge offs for 2025 of $65 thousand, compared to net-recoveries of $83 thousand for 2024. The allowance for credit losses was 0.76% of total loans as of December 31, 2025, compared to 0.62% as of December 31, 2024.

Noninterest income for year ended December 31, 2025, increased by $940 thousand, or 23.9%, as compared to the year ended December 31, 2024, primarily due to the sale of excess land adjacent to bank property in 2025, which resulted in a gain of $1.9 million. The increase related to the gain on sale was partially offset by lower net BOLI income by $336 thousand related to death insurance proceeds received in 2024, and an increase in realized losses of $394 thousand in 2025 due to the sale of low yielding debt securities which were reinvested into new securities or loans at substantially higher yields to maximize future revenue. Other sources of noninterest income improved in 2025, compared to 2024, related to debit card interchange fees and other banking service charges.

Noninterest expense for year ended December 31, 2025, increased $2.2 million, or 13.3% as compared to the year ended December 31, 2024, and is primarily the result of higher salaries and wages of $731 thousand, increased costs for data processing of $670 thousand, additional professional fees of $254 thousand related to consulting on various projects throughout 2025 and other noninterest expenses of $534 thousand. Higher compensation expenses related to talent acquisition to support succession planning, higher salaries and wages paid to remain competitive in the current labor market and expanded performance-based incentive programs. Other noninterest expenses increased due to accelerated charitable giving, increased statement and postage costs, and additional operating expenses associated with the opening of the Cape Charles, Virginia branch in the second quarter of 2025.

Per share data and repurchases of stock by the Company for each period are included in the following table.

		For the Twelve Months Ended
		Dec. 31, 2025				Dec. 31, 2024				Change
Per Share Data
Basic and diluted net income per common share		$	4.32			$	3.47				24.5	%
Dividends paid per common share			1.47				1.40				5.0
Market value at period end			54.50				48.00				13.5
Book value per common share at period end			48.17				42.01				14.7
Book value per common share excluding OCI			49.91				45.79				9.0
Dividend payout ratio			25.98	%			29.42	%			(343.5	)bp
Number of shares repurchased			62,789				28,158				123.0	%
Repurchase amount		$	3,271,332			$	1,242,773				163.2
Average repurchase price		$	52.10			$	44.14				18.0	%

Financial Condition

Core deposits, deposit insurance, liquidity and capital remain an area of focus for the Company. The Company relies mostly on core deposits, as defined by bank regulators, which are gathered from customers in local markets. The Company and the Bank remain well capitalized according to regulatory capital standards and exceed the threshold to be well capitalized (Community Bank Leverage Ratio) as of December 31, 2025.

The Company's financial condition at quarter end or for the quarter ended is summarized in the table and comments that follow.

		For the Three Months Ended												Prior Year Change				Prior Quarter Change
		Dec. 31, 2025				Dec. 31, 2024				Sept. 30, 2025
Financial Condition
Assets		$	987,276,254			$	936,920,790			$	1,014,553,046				5.4	%			(2.7	)%
Cash and unencumbered debt securities			254,566,885				243,387,979				305,206,210				4.6				(16.6	)
Loans			661,363,200				630,104,445				643,501,899				5.0				2.8
Deposits			854,033,027				818,397,804				882,229,278				4.4				(3.2	)
Interest-bearing deposits			619,431,016				573,925,715				624,582,987				7.9				(0.8	)
Stockholders' equity		$	128,278,344			$	114,509,982			$	127,726,914				12.0	%			0.4	%
Common stock outstanding			2,662,947				2,725,736				2,714,376				(62,789	)			(51,429	)
Stockholders' equity / assets			12.99	%			12.22	%			12.59	%			77.1	bp			40.4	bp
Average assets		$	1,004,876,979			$	945,859,161			$	1,001,754,848				6.2	%			0.3	%
Average loans			647,700,164				609,478,562				646,134,164				6.3				0.2
Average deposits			871,016,409				827,263,490				873,171,981				5.3				(0.2	)
Average stockholders' equity		$	128,943,993			$	114,479,375			$	124,623,010				12.6				3.5
Average stockholders' equity / assets			13.06	%			12.22	%			12.28	%			84.2	bp			77.7	bp
Tier 1 capital to average assets (leverage ratio)			13.23	%			13.20	%			13.26	%			3.0				(3.5	)

The Company's deposits increased $35.6 million, or 4.4% when compared to year ended December 31, 2024, which significantly contributed to an increase in total assets of $50.3 million, or 5.4% for the same period. Deposit growth in 2025 has been driven primarily by an increase in core deposits, reflecting our focused efforts to deepen existing customer relationships and attract new ones across our footprint, including the successful opening of our Cape Charles branch in Northampton County, Virginia. As of December 31, 2025, the new Cape Charles branch, which opened in May of 2025, ended with $12.0 million in total deposits.

The Bank operates with a high level of core deposits, defined by banking regulators as checking, money market, and savings accounts plus any time deposits less than $250,000. All deposit accounts with a balance in excess of the FDIC insurance limit of $250,000 are disclosed on quarterly regulatory reports filed with bank regulators. As of December 31, 2025, the Bank had deposit accounts with balances in excess of $250,000 totaling $206.0 million, which represents 24.1% of total deposits, as compared to $214.2 million or 26.2% as of December 31, 2024, and $233.0 million or 25.3% of total deposits as of September 30, 2025. The Bank is a member of the IntraFi Network which enables large depositor's access to multimillion-dollar FDIC insurance for funds placed into the network and provides an equal amount of reciprocal deposits under FDIC insurance limits to the bank. Reciprocal deposits from the IntraFi Network were $153.6 million as of December 31, 2025, as compared to $116.4 million and $157.3 million as of December 31, 2024, and September 30, 2025, respectively.

On balance sheet liquidity, as measured by cash and unencumbered available for sale debt securities, remains strong as of December 31, 2025, and equaled 29.8% of total deposits. Selected liquidity metrics are summarized in the table below.

		For the Three Months Ended												Prior Year Change				Prior Quarter Change
		Dec. 31, 2025				Dec. 31, 2024				Sept. 30, 2025
Liquidity
Cash and unencumbered debt securities / total deposits			29.81	%			29.74	%			34.59	%			7	bp			(478	)bp
Debt securities pledged / total debt securities			11.45				12.00				9.15				(54	)			230
Loans / deposits			77.44				76.99				72.94				45				450
Average loans / average deposits			74.36				73.67				74.00				69				36
Noninterest-bearing deposits / total deposits			27.47				29.87				29.20				(240	)			(173	)
Non-maturity deposits / total deposits			55.52				54.33				54.71				119				81
Time deposits / total deposits			17.01	%			15.80	%			16.08	%			121	bp			93	bp

Noncore funding sources are available to the Bank but are intended for contingency funding needs and not to pursue growth. As of December 31, 2025, the Bank can borrow up to $282.9 million from the Federal Home Loan Bank ("FHLB") that would require pledging of loans and/or debt securities as collateral. Debt securities currently pledged are collateral for public deposits.

Loans and Asset Quality

Higher interest rates, economic uncertainty and other factors have impacted current loan demand as compared to demand experienced in the previous 12 months. Conversely, funding of previously committed construction loans, localized demand for commercial real estate loans, and higher seasonal borrowings during 2025 resulted in continued organic loan growth with gross loans increasing $31.3 million, or 5.0%, since December 31, 2024. New loan originations and repricing opportunities over the past 12 months have expanded the yield on loans from 5.48% in 4Q24 to 5.73% in 4Q25. Loan yields increased 7 bps in 4Q25 as compared to 3Q25.

Overall loan performance remains strong despite several years of elevated inflation and high borrowing costs related to the current interest rate environment. The Company continues to increase the allowance for credit losses to reserve for any potential economic factors which could result in a deterioration in credit quality of our borrowers. Credit quality metrics as of December 31, 2025, remain strong and enhanced workout efforts by the credit team have resulted in a significant reduction in loans past due 90 days or more, currently 5 bps of total loans, as compared to 18 bps of total loans as of December 31, 2024. The addition of one borrower as a TLM in 2025 is considered isolated in nature, with adequate collateral, and poses no substantial risk of loss to the Bank at this time. Selected asset quality metrics are summarized in the table below.

		For the Three Months Ended												Prior Year Change				Prior Quarter Change
		Dec. 31, 2025				Dec. 31, 2024				Sept. 30, 2025
Asset Quality Data
Allowance for credit losses / total loans			0.76	%			0.62	%			0.73	%			14	bp			3	bp
Net charge-offs (recoveries) / average loans			0.00				0.01				0.02				(0	)			(2	)
Loans past due 90 days or more / total loans			0.05				0.18				0.15				(13	)			(10	)
Non-accrual loans / total loans			0.16				0.17				0.19				(1	)			(3	)
Accruing troubled loan modifications ("TLMs") / total loans			0.32	%			-	%			-	%			32	bp			32	bp

Financial Statements

Consolidated balance sheets at period end and consolidated statements of income for the periods ended are presented below.

Calvin B. Taylor Bankshares, Inc.
Consolidated Balance Sheets

		(unaudited)
		December 31,				December 31,
		2025				2024
ASSETS
Cash and due from banks		$	5,740,137			$	5,780,779
Federal funds sold and interest bearing deposits			61,119,244				74,169,942
Cash and cash equivalents			66,859,381				79,950,721
Investment securities available for sale (at fair value)			198,822,246				159,645,861
Investment securities held to maturity (at amortized cost)			13,166,812				26,075,849
Equity securities, at fair value			552,133				748,833
Restricted securities			675,800				616,300
Loans held for investment			661,363,200				630,104,443
Less: allowance for credit losses			(4,998,223	)			(3,909,921	)
Loans, net			656,364,977				626,194,522
Accrued interest receivable			3,183,246				2,724,206
Prepaid expenses			744,624				670,623
Other real estate owned, net			-				-
Premises and equipment, net			16,485,407				12,895,314
Computer software, net			144,000				142,306
Deferred income taxes, net			1,294,479				3,421,606
Bank owned life insurance and annuities			28,499,211				22,238,791
Other assets			483,938				1,606,645
Total assets		$	987,276,254			$	936,931,577
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing deposits		$	234,602,011			$	244,885,756
Interest-bearing deposits			619,431,016				573,512,049
Total deposits			854,033,027				818,397,805
Accrued interest payable			675,335				691,374
Accrued expenses			1,492,517				1,011,503
Deferred compensation and supplemental retirement benefits			1,552,531				1,341,748
Allowance for credit losses on off-balance sheet credit exposures			767,247				574,247
Other liabilities			477,253				404,918
Total liabilities			858,997,910				822,421,595
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, par value $1 per share; authorized 10,000,000			2,662,947				2,725,736
Additional paid in capital			2,288,047				909,513
Retained earnings			127,947,058				121,173,185
Accumulated other comprehensive loss, net of deferred income tax			(4,619,708	)			(10,298,452	)
Total stockholders' equity			128,278,344				114,509,982
Total liabilities and stockholders' equity		$	987,276,254			$	936,931,577
Period-end common shares outstanding			2,662,947				2,725,736
Book value per common share		$	48.17			$	42.01

Calvin B. Taylor Bancshares, Inc.
Consolidated Statements of Income

		For the Three Months Ended								For the Twelve Months Ended
		December 31,								December 31,
		2025				2024				2025				2024
INTEREST INCOME
Interest and fees on loans		$	9,347,578			$	8,397,158			$	36,374,019			$	32,086,538
Interest on investment securities:
U.S. Treasury and government agency debt securities			852,779				539,459				3,053,661				2,063,548
Mortgage-backed debt securities			1,011,609				734,198				3,486,568				2,571,871
State and municipal debt securities			71,821				98,390				342,021				395,490
Interest on federal funds sold and interest-bearing deposits			860,557				1,175,801				2,974,424				3,594,387
Total interest income			12,144,344				10,945,006				46,230,693				40,711,834
INTEREST EXPENSE
Interest on deposits			2,745,272				2,636,367				10,731,595				10,215,521
Total interest expense			2,745,272				2,636,367				10,731,595				10,215,521
NET INTEREST INCOME			9,399,072				8,308,639				35,499,098				30,496,313
Provision for credit losses			200,000				185,000				1,400,000				810,000
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES			9,199,072				8,123,639				34,099,098				29,686,313
NONINTEREST INCOME
Debit card interchange fees, net			202,736				204,866				848,789				777,311
Nonsufficient funds and overdraft fees, net			184,036				200,603				711,380				753,339
Merchant payment processing, net			69,692				80,087				352,355				396,990
Service charges on deposit accounts, net			44,074				38,792				171,173				208,164
Income from bank owned life insurance annuities			275,975				350,369				958,440				513,077
Income from bank owned life insurance death proceeds			-				-				-				783,787
Dividends			43,229				58,195				87,607				104,976
Loss on disposition of investment securities			-				1				(765,120	)			(370,919	)
Gain on disposition of fixed assets			-				-				1,952,838				-
Other noninterest income			104,441				78,781				674,708				255,277
Total noninterest income			924,183				1,529,521				4,992,170				3,939,829
NONINTEREST EXPENSE
Salaries and wages			2,464,948				2,382,995				8,434,516				7,703,241
Employee benefits			697,581				918,810				2,486,803				2,506,038
Occupancy expense			332,447				278,584				1,211,479				1,104,164
Furniture and equipment expense			215,443				184,334				863,132				789,291
Data processing			495,993				184,723				1,894,879				1,007,413
Marketing			36,065				131,618				353,642				609,206
Directors' fees			95,700				73,300				382,000				288,850
Telecommunication services			88,628				72,540				281,203				278,139
FDIC insurance premium expense			108,815				103,693				415,883				399,524
Professional fees			238,808				116,720				657,776				404,110
Other noninterest expenses			697,951				486,347				2,262,716				1,834,526
Total noninterest expense			5,472,379				4,933,664				19,244,029				16,924,502
Income before income taxes			4,650,876				4,719,496				19,847,239				16,701,640
Income tax expense			1,014,339				991,000				4,454,339				3,658,000
NET INCOME		$	3,636,537			$	3,728,496			$	15,392,900			$	13,043,640
Basic and diluted net income per common share		$	1.34			$	1.37			$	5.66			$	4.81

###

About Calvin B. Taylor Banking Company
Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. The Company has twelve full-service banking locations and one loan production office within the eastern coastal area of the Delmarva Peninsula including Worcester County and Wicomico County, Maryland, Accomack County and Northampton County, Virginia and Sussex County, Delaware.

Contact
Philip O'Neil, Chief Financial Officer and Executive Vice President
410‑641‑1700, taylorbank.com

SOURCE: Calvin B. Taylor Bankshares, Inc.

View the original press release on ACCESS Newswire

FAQ

What were Calvin B. Taylor Bankshares (TYCB) 4Q25 and full-year 2025 earnings?

4Q25 net income was $3.6M ($1.34/share), and full-year 2025 net income was $15.4M ($5.66/share). According to the company, year-over-year net income rose 17.9%, driven by higher net interest income and loan growth.

How did TYCB's net interest margin and net interest income perform in 2025?

Net interest margin for 2025 was 3.82% and net interest income was $35.5M. According to the company, improvements were driven by higher loan and investment yields and increased average balances.

What capital return actions did Calvin B. Taylor Bankshares (TYCB) take in 2025?

TYCB increased dividends 5% and repurchased 62,789 shares for $3.27M in 2025. According to the company, the repurchase program remains authorized through December 2026 with 8.6% capacity left.

Did TYCB report any credit quality issues or loan modifications in 4Q25?

The bank recorded its first accruing troubled loan modification totaling $2.0M in 4Q25 and reduced 90+ day delinquencies. According to the company, the modification is interest-only for six months and is current under modified terms.

What drove the increase in TYCB's noninterest expense and provision in 2025?

Noninterest expense rose due to higher salaries, data processing, and professional fees, totaling $19.24M in 2025. According to the company, the provision increased to $1.4M reflecting loan growth and CECL qualitative factor updates.