Calvin B. Taylor Bankshares, Inc. Reports Second Quarter and First Half Results 2025 Financial Results

Rhea-AI Summary

Calvin B. Taylor Bankshares (OTCQX:TYCB) reported strong financial results for Q2 2025, with net income of $3.9 million ($1.42 per share), up from $3.7 million in Q1 2025 and $2.8 million in Q2 2024. The first half of 2025 saw net income reach $7.6 million ($2.79 per share), compared to $5.8 million in H1 2024.

Key highlights include net interest margin expansion to 3.89%, significant deposit growth of $56.0 million (7.1% YoY), and improved efficiency ratio of 45.0%. The bank's new Cape Charles, Virginia branch, opened in May 2025, has already accumulated $6.5 million in deposits. Asset quality metrics remain favorable despite one $4.5 million loan exceeding 30 days past due.

Positive

• Net income increased 36.5% YoY to $3.9 million in Q2 2025
• Net interest margin expanded to 3.89%, up from 3.48% in Q2 2024
• Total deposits grew by $56.0 million (7.1%) YoY
• Efficiency ratio improved to 45.0% from 50.6% YoY
• New branch in Cape Charles generated $6.5 million in deposits since May 2025

Negative

• Loans past due 30 days or more increased to 0.89% from 0.29% in Q1 2025
• One significant loan of $4.5 million became past due in Q2 2025
• Organic loan growth has slowed due to higher interest rates
• Data processing costs increased due to core conversion upgrade

BERLIN, MD / ACCESS Newswire / September 4, 2025 / 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 second quarter 2025 ("2Q25") of $3.9 million, or $1.42 per share compared to net income of $3.7 million, or $1.36 per share for the first quarter of 2025 ("1Q25"), and net income of $2.8 million, or $1.03 per share for the second quarter of 2024 ("2Q24"). Net income for the first half of 2025 was $7.6 million or $2.79 per share, compared to net income for the first half of 2024 of $5.8 million, or $2.11 per share.

Second Quarter and First Half 2025 Highlights

• Net Interest Margin Expansion - Net interest margin ("NIM") increased to 3.89% for 2Q25, when compared to 3.73% for 1Q25 and 3.48% for 2Q24. NIM expansion was driven by an improvement in yield on earning assets including loans and investment securities.

• Return on Average Assets ("ROAA") - The Company reported ROAA of 1.62% for the second quarter and first quarter of 2025, compared to 1.29% for the second quarter of 2024.

• Significant Deposit Growth - Total deposits increased $56.0 million, or 7.1%, when compared to June 30, 2024, and $23.3 million, or 2.8% when compared to December 31, 2024. The increase in total deposits has been a combination of growth in noninterest-bearing and interest-bearing deposits. Our retail banking division has been actively expanding wallet share with current customers and targeting new business and consumer accounts by partnering with our lending and marketing teams. The opening of a new branch in Cape Charles, Virginia in May of 2025 has also contributed to deposit growth and currently has $6.5 million in total deposits.

• Improved Operating Leverage - The reported efficiency ratio for the second quarter of 2025 was 45.0%, compared to 50.6% for the second quarter of 2024. The Company over the last year has made significant strides to improve top-line revenue while investing in upgraded systems and processes to provide operational efficiencies.

Chief Executive Officer and President, M. Dean Lewis commented, "Our strong quarterly and first half financial results are a testament to the importance of profitable growth while simultaneously managing the balance sheet and operating expenses. The ability to grow low-cost deposits in the current interest rate environment confirms that Taylor Bank provides the products, service, and technology that customers in our market value. We continue to work on key enhancements in technology to improve both customer and employee experience while maintaining our exceptional operating efficiency. Organic loan growth has slowed due to higher interest rates and uncertainty surrounding the economy and fiscal policy. Asset quality metrics continue to remain favorable, and we are actively assessing borrowers' current and future cash flows, collateral values, and concentration risks. Overall, our strong financial performance enhances our ability to execute strategic initiatives and provides opportunities to increase shareholder value."

Quarterly Results of Operations

Quarterly net income was $3.9 million for 2Q25, as compared to $3.7 million for 1Q25 and $2.8 million for 2Q24. A summary of the quarterly results of operations are included in the table and comments that follow.

 

		June 30, 2025				June 30, 2024				March 31, 2025				Prior Year				Prior Quarter
Results of Operations
Net interest income		$	8,726,865			$	7,201,600			$	8,136,502				21.2	%			7.3	%
Provision for credit losses			401,000				75,000				399,000				434.7				0.5
Noninterest income			959,886				518,945				1,908,390				85.0				(49.7	)
Noninterest expense			4,361,189				3,904,252				4,736,681				11.7				(7.9	)
Income before income taxes			4,924,562				3,741,293				4,909,211				31.6				0.3
Income tax expense			1,061,500				922,000				1,185,000				15.1				(10.4	)
Net income		$	3,863,062			$	2,819,293			$	3,724,211				36.5	%			3.7	%
Yield on earning assets			5.01	%			4.70	%			4.92	%			31	bp			9	bp
Cost of interest-bearing deposits			1.80				1.91				1.81				(11	)			(1	)
Net interest margin			3.84				3.48				3.73				36				11
Return on average assets			1.61				1.28				1.62				33				(1	)
Return on average equity			12.84				10.55				12.96				229				(12	)
Efficiency ratio			45.02	%			50.57	%			43.83	%			(555	)bp			119	bp

Net interest income increased $590 thousand, or 7.3% in 2Q25, as compared to 1Q25, due to increases in interest and fee income on loans of $417 thousand, interest on investment securities of $143 thousand and interest income on deposits with other banks of $93 thousand. The average balance of loans in 2Q25 increased $10.1 million and total loan yields improved 12 bps, when compared to 1Q25. Similarly, the average balance of investment securities in 2Q25 increased $187 thousand and yields improved 5 bps, when compared to 1Q25. Net interest income increased $1.5 million, or 21.2% in 2Q25, as compared to 2Q24, primarily due to an increase in average loan balances of $45.6 million coupled with a higher average yield on loans which increased 30 bps. In addition, the average yield on investment securities improved by 67 bps and the average balance of deposits with other banks increased $21.9 million, which together provided $555 thousand of additional interest income in 2Q25.

Provision expense for credit losses was $401 thousand for 2Q25, compared to $399 thousand for 1Q25 and $75 thousand for 2Q24. Loans past due 30 days or more increased to 0.89% at the end of 2Q25, when compared to 0.29% at the end of 1Q25 and 0.42% at the end of 2Q24. The increase in loans past due 30 days or more was the result of one loan in the amount of $4.5 million which exceeded 30 days past due at the end of 2Q25. The credit department continues to proactively monitor this relationship, which is well collateralized with no expected losses to the Bank at this time. During 2Q25 there was one charge-off in the amount of $20 thousand. During 2Q25, all the qualitative factors within the CECL model were enhanced significantly by segmenting each specific loan category within each qualitative factor and applying an effective loss rate by loan category. This was a planned change since the Company updated its core processor in November of 2024, which allows for a more precise calculation of expected loan loss by loan type.

Noninterest income decreased in 2Q25 by $949 thousand, or 49.7%, as compared to 1Q25, and increased $441 thousand, or 85.0%, as compared to 2Q24. The decrease in 2Q25 when compared to 1Q25 was due to the sale of excess land adjacent to bank property which resulted in a gain of $1.9 million in 1Q25, partially offset by a realized loss of $761 thousand on the sale of certain investment securities in 1Q25. The increase in noninterest income in 2Q25 when compared to 2Q24 was primarily due to an increase in income from bank owned life insurance ("BOLI") of $295 thousand, related to the purchase of $5 million in additional BOLI contracts in April 2025. In addition, debit card interchange fees improved in 2Q25 compared to 2Q24 due to seasonal fluctuations in consumer spending, and improvement in fraud losses due to investment in fraud loss technology and enhanced monitoring.

Noninterest expense decreased by $375 thousand, or 7.9% in 2Q25, as compared to 1Q25. The decrease related to lower employee benefits costs of $196 thousand, coupled with the one-time expenses in 1Q25 including $88 thousand in state bank assessment fees and $100 thousand contribution to establish an endowment fund for future community donations. The reduction in employee benefits consisted of a reduction in health insurance claims, payroll taxes and non-qualified deferred compensation. Noninterest expenses increased in 2Q25 by $457 thousand, or 11.7%, as compared to 2Q24, which primarily related to higher data processing costs due to a core conversion upgrade in late 2024, higher salaries to remain competitive in the current labor market, coupled with the addition of a new branch in Cape Charles, Virginia and professional fees related to consulting on various implementation projects.

Quarterly per share data and repurchase of stock by the Company for each period is included in the following table. The stock repurchase plan previously adopted by the Board of Directors remains in place and as of June 30, 2025, the plan has 21,418 shares available for repurchase. 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.

 

		June 30, 2025				June 30, 2024				March 31, 2025				Prior Year				Prior Quarter
Per Share Data
Basic and diluted net income per common share		$	2.79			$	1.03			$	1.36				170.5	%			104.8	%
Dividends paid per common share			0.37				0.35				0.36				5.7				2.8
Dividend payout ratio			26.07				34.04				26.36				(23.4	)			(1.1	)
Book value per common share at period end			45.17				39.81				43.88				13.5				2.9
Book value per common share excluding OCI			47.84				43.84				46.73				9.1				2.4
Market value at period end		$	55.00			$	46.00			$	47.01				19.6	%			17.0	%
Number of shares repurchased			119				204				3,741				(85	)			(3,622	)
Repurchase amount		$	5,968			$	8,980			$	183,309				(33.5	)%			(96.7	)%
Average repurchase price		$	50.15			$	44.02			$	49.00				13.9	%			2.3	%

Year to Date Results of Operations

Net income was $7.6 million for the six months ended June 30, 2025, as compared to $5.8 million for the six months ended June 30, 2024, an increase of $1.8 million, or 31.1%. A summary of the year-to-date results of operations are included in the table and comments below.

 

		For the Three Months Ended												For the Six Months Ended
		June 30,												June 30,
		2025				2024				Change				2025				2024				Change
Results of Operations
Net interest income		$	8,726,865			$	7,201,600				21.2	%		$	16,863,367			$	14,053,995				20.0	%
Provision for credit losses			401,000				75,000				434.7				800,000				550,000				45.5
Noninterest income			959,886				518,945				85.0				2,897,443				1,690,447				71.4
Noninterest expense			4,361,189				3,904,252				11.7				9,127,036				7,841,651				16.4
Income before income taxes			4,924,562				3,741,293				31.6				9,833,774				7,352,791				33.7
Income tax expense			1,061,500				922,000				15.1				2,246,500				1,563,500				43.7
Net income		$	3,863,062			$	2,819,293				37.0	%		$	7,587,274			$	5,789,291				31.1	%
Yield on earning assets			5.01	%			4.70	%			31	bp			4.93	%			4.59	%			34	bp
Cost of interest-bearing deposits			1.80				1.91				(11	)			1.80				1.87				(7	)
Net interest margin			3.84				3.48				36				3.76				3.41				35
Return on average assets			1.61				1.28				33				1.63				1.34				29
Return on average equity			12.84				10.52				232				12.90				10.96				194
Efficiency ratio			45.02	%			50.57	%			(555	)bp			46.19	%			48.67	%			(248	)bp

Net interest income increased $2.8 million, or 20.0%, for the six months ended June 30, 2025, as compared to same period last year, and was attributable to increases in interest income from loans, investment securities and deposits with other banks, partially offset by higher interest expense on deposits. The average balance of loans in 2025 increased $48.6 million and total loan yields improved 32 bps, when compared to 2024. In addition, the average balance of investment securities increased $9.6 million, and yields improved 57 bps, when compared to the prior year. Deposit costs increased $339 thousand, or 6.9%, in the first six months of 2025, the result of growth in average interest-bearing deposits of $60.5 million and partially offset by a 7 bps reduction in rates paid on interest-bearing deposits.

The allowance for credit losses was 0.73% of total loans as of June 30, 2025, compared to 0.63% as of June 30, 2024. The provision for credit losses recorded in the six months ended June 30, 2025, of $800 thousand was the result of loan growth, aging within the loan portfolio and the updated change to the qualitative factors in the CECL model as noted above under, "Quarterly Results of Operations".

Noninterest income for the six months ended June 30, 2025, increased by $1.2 million, or 71.4%, as compared to the six months ended June 30, 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 of $497 thousand related to death insurance proceeds received in 2024, and an increase in realized losses of $392 thousand in 2025 due to the sale of certain investment securities as part of a swap loss trade. 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 the six months ended June 30, 2025, increased $1.3 million, or 16.4% as compared to the same period in 2024, and is primarily the result of increases in data processing of $468 thousand, salary and wages of $437 thousand and employee benefits of $132 thousand. The increase in data processing expense was related to a core system conversion in 4Q24. Higher compensation and employee benefit expenses related to talent acquisition and higher salaries and wages paid to remain competitive in the current labor market. Other operating costs increased by $249 thousand, which related to increases in professional fees, statement and postage expenses and higher bank assessment fees.

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

 

		For the Six Months Ended
		June 30,
		2025				2024				Change
Per Share Data
Basic and diluted net income per common share		$	2.79			$	2.11				32.1	%
Dividends paid per common share			0.73				0.69				5.8
Market value at period end		$	55.00			$	46.00				19.6	%
Book value per common share at period end		$	45.17			$	39.81				13.5	%
Book value per common share excluding OCI			47.84				43.84				9.1
Dividend payout ratio		$	26.21			$	32.75				(20.0	)%
Number of shares repurchased			3,860				12,454				(69.0	)%
Repurchase amount		$	189,277			$	547,980				(65.5	)
Average repurchase price		$	49.77			$	44.00				13.1	%

Financial Condition

Core deposits, deposit insurance, liquidity and capital remain an area of focus for the Company and the entire banking industry. 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 June 30, 2025. The Company's financial condition at quarter end is summarized in the table and comments that follow.

 

		June 30, 2025				June 30, 2024				March 31, 2025				Prior Year				Prior Quarter
Financial Condition
Assets		$	968,447,227			$	897,946,213			$	948,831,131				7.9	%			2.1	%
Cash and unencumbered debt securities			254,574,943				200,647,575				242,304,088				26.9				5.1
Loans			645,435,644				605,110,398				643,683,222				6.7				0.3
Deposits			841,657,576				785,686,008				824,748,066				7.1				2.1
Interest-bearing deposits			591,756,470				543,758,089				588,940,579				8.8				0.5
Stockholders' equity		$	122,940,229			$	109,126,423			$	119,613,303				12.7	%			2.8	%
Common stock outstanding			2,721,876				2,741,440				2,725,736				(19,564	)			(3,860	)
Stockholders' equity / assets			12.69	%			12.15	%			12.61	%			54	bp			9	bp
Average assets		$	954,686,841			$	873,915,113			$	933,476,103				9.2	%			2.3	%
Average loans			643,082,312				601,943,532				633,436,485				6.8				1.5
Average deposits			830,206,285				758,176,927				812,946,602				9.5				2.1
Average stockholders' equity		$	120,687,564			$	107,183,698			$	116,522,796				12.6	%			3.6	%
Average stockholders' equity / assets			12.46	%			12.26	%			12.28	%			20	bp			18	bp
Tier 1 capital to average assets (leverage ratio)			13.64	%			13.61	%			13.64	%			3	bp			(0	)bp

The Company's deposits increased by $16.9 million, or 2.1% when compared to the end of 1Q25. The Company usually begins to experience deposit inflows during the second quarter due to seasonal tourism. The Company's deposits increased by $56.0 million, or 7.1% when compared to the end of 2Q24. The increase in deposits since last year has been the result of concerted efforts to grow core deposit relationships within current and newly expanded markets, such as Northampton County, Virginia.

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 2Q25, the Bank had deposit accounts with balances in excess of $250,000 totaling $207.8 million, which represents 24.7% of total deposits, as compared to $198.2 million or 24.0% as of 1Q25 and $190.0 million or 24.2% of total deposits as of 2Q24. 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. In recent years, the banking industry has experienced a surge in usage of the IntraFi Network by existing and new customers, due to the added insurance protection and the higher rates paid on these deposits. Reciprocal deposits from the IntraFi Network were $131.2 million as of 2Q25, as compared to $130.1 million and $127.9 million as of 1Q25 and 2Q24, respectively.

On-balance sheet liquidity, as measured by cash and unencumbered available for sale debt securities, remains strong as of 2Q25 and equaled 30.3% of total deposits. Selected liquidity metrics are summarized in the table below.

 

		June 30, 2025				June 30, 2024				March 31, 2025				Prior Year				Prior Quarter
Liquidity
Cash and unencumbered debt securities / total deposits			30.25	%			25.54	%			29.38	%			471	bp			87	bp
Debt securities pledged / total debt securities			10.54				13.15				11.23				(261	)			(69	)
Loans / deposits			76.69				77.02				78.05				(33	)			(136	)
Average loans / average deposits			77.46				79.39				77.92				(193	)			(46	)
Noninterest-bearing deposits / total deposits			29.69				30.79				28.59				(110	)			110
Non-maturity deposits / total deposits			54.55				53.33				55.33				122				(78	)
Time deposits / total deposits			15.76	%			15.89	%			16.08	%			(13	)bp			(32	)bp

Noncore funding sources are available to the Bank but are intended for contingency funding needs and not to pursue growth. As of June 30, 2025, the Bank can borrow up to $236.8 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 seasonal borrowings during for the first half of 2025 resulted in continued organic loan growth with loans increasing $15.3 million, or 2.4%, since December 31, 2024. Loan growth of $40.3 million, or 6.7%, in the previous 12 months was the result of strong demand for local real estate and construction of both residential and commercial properties. Loan originations and maturities within the current interest rate environment over the last 12 months have expanded the yield on loans from 5.35% in 2Q24 to 5.65% in 2Q25. Loan yields increased 12 bps in 2Q25 as compared to 1Q25.

Overall loan performance remains strong despite inflation and a high-interest rate environment. Credit quality metrics at the end of 2Q25 were significantly impacted by one relationship of $4.5 million which went over 30 days past due at quarter end. This relationship is more than adequately collateralized by real estate with no anticipated losses to the Bank at this time. Selected asset quality metrics are summarized in the table below.

 

		June 30, 2025				June 30, 2024				March 31, 2025				Prior Year				Prior Quarter
Asset Quality Data
Allowance for credit losses / total loans			0.73	%			0.63	%			0.67	%			10	bp			6	bp
Net charge-offs (recoveries) / average loans			0.01				-				-				-				1
Loans past due 30 days or more / total loans			0.89				0.42				0.29				47				60
Non-accrual loans / total loans			0.18	%			0.04	%			0.16	%			14	bp			2	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)								(unaudited)
		June 30,				December 31,				June 30,
		2025				2024				2024
ASSETS
Cash and due from banks		$	7,246,837			$	5,780,779			$	5,968,231
Federal funds sold and interest-bearing deposits			61,964,700				74,169,942				66,771,008
Cash and cash equivalents			69,211,537				79,950,721				72,739,239
Investment securities available for sale (at fair value)			185,121,262				159,645,861				145,150,699
Investment securities held to maturity (at amortized cost)			22,081,458				26,075,849				34,968,272
Equity securities, at fair value			748,833				748,833				748,833
Restricted securities			675,000				616,300				616,300
Loans held for investment			645,435,644				630,104,443				605,110,398
Less: allowance for credit losses			(4,698,433	)			(3,909,921	)			(3,806,167	)
Loans, net			640,737,211				626,194,522				601,304,231
Accrued interest receivable			3,014,318				2,724,206				2,512,574
Prepaid expenses			379,387				670,623				412,384
Other real estate owned, net			-				-				392,206
Premises and equipment, net			16,258,409				12,895,314				13,043,428
Computer software, net			102,174				142,306				157,583
Deferred income taxes, net			1,963,254				3,421,606				3,562,664
Bank owned life insurance and annuities			27,657,716				22,238,791				21,808,885
Other assets			496,668				1,606,645				528,915
Total assets		$	968,447,227			$	936,931,577			$	897,946,213
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing deposits		$	249,901,106			$	244,885,756			$	241,927,919
Interest-bearing deposits			591,756,470				573,512,049				543,758,089
Total deposits			841,657,576				818,397,805				785,686,008
Accrued interest payable			679,741				691,374				860,714
Accrued expenses			734,343				1,011,503				363,375
Deferred compensation and supplemental retirement benefits			1,390,308				1,341,748				1,092,637
Allowance for credit losses on off-balance sheet credit exposures			543,247				574,247				405,347
Other liabilities			501,783				404,918				411,709
Total liabilities			845,506,998				822,421,595				788,819,790
STOCKHOLDERS' EQUITY
Common stock, par value $1 per share; authorized 10,000,000			2,721,876				2,725,736				2,741,440
Additional paid in capital			722,203				909,513				1,601,029
Retained earnings			126,771,768				121,173,185				115,845,066
Accumulated other comprehensive loss, net of deferred income tax			(7,275,618	)			(10,298,452	)			(11,061,112	)
Total stockholders' equity			122,940,229				114,509,982				109,126,423
Total liabilities and stockholders' equity		$	968,447,227			$	936,931,577			$	897,946,213
Period-end common shares outstanding			2,721,876				2,725,736				2,721,440
Book value per common share		$	45.17			$	42.01			$	40.10

 

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

		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2025				2024				2025				2024
INTEREST INCOME
Interest and fees on loans		$	9,115,397			$	8,027,931			$	17,813,710			$	15,593,842
Interest on investment securities:
U.S. Treasury and government agency debt securities			728,485				501,044				1,360,596				1,030,138
Mortgage-backed debt securities			800,897				592,664				1,545,363				1,168,988
State and municipal debt securities			87,619				93,843				184,544				198,819
Interest on federal funds sold and interest-bearing deposits			642,948				520,455				1,192,849				956,757
Total interest income			11,375,346				9,735,937				22,097,062				18,948,544
INTEREST EXPENSE
Interest on deposits			2,648,481				2,534,337				5,233,695				4,894,549
Total interest expense			2,648,481				2,534,337				5,233,695				4,894,549
NET INTEREST INCOME			8,726,865				7,201,600				16,863,367				14,053,995
Provision for credit losses			401,000				75,000				800,000				550,000
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES			8,325,865				7,126,600				16,063,367				13,503,995
NONINTEREST INCOME
Debit card interchange fees, net			256,034				191,360				423,599				372,307
Nonsufficient funds and overdraft fees, net			174,142				185,908				354,960				356,136
Merchant payment processing, net			76,863				104,103				140,572				161,965
Service charges on deposit accounts, net			42,492				55,373				85,072				112,026
Income (loss) from bank owned life insurance annuities			257,592				(37,335	)			421,599				135,251
Income from bank owned life insurance death proceeds			-				(8,787	)			-				783,787
Dividends			22,272				23,459				33,271				35,530
Loss on disposition of investment securities			-				-				(760,933	)			(368,821	)
Gain on disposition of fixed assets			7,484				-				1,937,437				25
Other noninterest income			123,007				4,864				261,866				102,241
Total noninterest income			959,886				518,945				2,897,443				1,690,447
NONINTEREST EXPENSE
Salaries and wages			1,977,121				1,779,140				3,896,803				3,460,283
Employee benefits			444,893				476,713				1,085,773				953,909
Occupancy expense			294,028				271,334				599,419				546,594
Furniture and equipment expense			214,021				202,773				416,486				402,045
Data processing			477,997				249,450				961,999				494,195
Marketing			135,169				151,977				239,168				344,800
Directors' fees			97,300				76,700				190,600				138,600
Telecommunication services			70,096				69,857				138,251				138,399
FDIC insurance premium expense			100,901				93,865				203,767				190,369
Professional fees			144,179				12,970				282,644				215,399
Other noninterest expenses			405,484				519,473				1,112,126				957,058
Total noninterest expense			4,361,189				3,904,252				9,127,036				7,841,651
Income before income taxes			4,924,562				3,741,293				9,833,774				7,352,791
Income tax expense			1,061,500				922,000				2,246,500				1,563,500
NET INCOME		$	3,863,062			$	2,819,293			$	7,587,274			$	5,789,291
Basic and diluted net income per common share		$	1.42			$	1.03			$	2.79			$	2.11
Net income		$	1.42			$	1.03			$	2.79			$	2.11

###

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, Executive Vice President and Chief Financial Officer
410‑641‑1700, taylorbank.com

SOURCE: Calvin B. Taylor Bankshares, Inc.

View the original press release on ACCESS Newswire

FAQ

What was TYCB's earnings per share for Q2 2025?

TYCB reported earnings of $1.42 per share for Q2 2025, compared to $1.36 in Q1 2025 and $1.03 in Q2 2024.

How much did TYCB's deposits grow in 2025?

Total deposits increased by $56.0 million (7.1%) year-over-year and $23.3 million (2.8%) since December 31, 2024.

What is TYCB's current net interest margin?

TYCB's net interest margin expanded to 3.89% in Q2 2025, up from 3.73% in Q1 2025 and 3.48% in Q2 2024.

How much did TYCB earn in the first half of 2025?

TYCB earned $7.6 million ($2.79 per share) in the first half of 2025, compared to $5.8 million ($2.11 per share) in the first half of 2024.

What is TYCB's efficiency ratio in Q2 2025?

TYCB's efficiency ratio improved to 45.0% in Q2 2025, compared to 50.6% in Q2 2024, showing better operating leverage.