Tri-County Financial Group, Inc. Reports First Quarter 2026 Financial Results

Rhea-AI Summary

Tri-County Financial Group (OTCQX: TYFG) reported Q1 2026 net income of $4.5 million ($1.88 per share), up from $2.6 million ($1.07) in Q1 2025. Net interest income was $13.7 million and non-interest income was $4.1 million. Total loans reached $1.312 billion and total deposits were $1.309 billion. The Board declared a regular dividend of $0.28 per share payable April 9, 2026.

Allowance for credit losses was $14.9 million (1.14% of gross loans); nonperforming loans were 0.55% of total loans. Investment securities totaled $154.7 million.

AI-generated analysis. Not financial advice.

Positive

• Net income increased ~73% to $4.5 million in Q1 2026
• Net interest income rose 18% to $13.7 million
• Total loans grew $33.6 million to $1.312 billion
• Declared regular dividend of $0.28 per share

Negative

• Nonperforming loans rose to 0.55% of total loans (from 0.40%)
• Non-interest expense increased $0.7 million year-over-year
• Brokered deposits fell from $37.6M to $10.0M, raising funding mix questions

News Market Reaction – TYFG

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+1.51% News Effect

On the day this news was published, TYFG gained 1.51%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MENDOTA, Ill., April 27, 2026 /PRNewswire/ -- Tri-County Financial Group, Inc. (the "Company") (OTCQX: TYFG) today announced financial results for the first quarter of 2026.

Net income for the first quarter of 2026 was $4.5 million ($1.88 per share), compared to $2.6 million ($1.07 per share) during the first quarter of 2025, which is approximately a 73% increase. 

Net interest income was $13.7 million during the quarter ended March 31, 2026, compared to $11.6 million in the same period of 2025, an increase of 18%. 

Non-interest income was $4.1 million for the first quarter of 2026, an increase of $0.5 million, or 14%, compared to $3.6 million during the quarter ended March 31, 2025.  

Non-interest expense was $12.0 million during the quarter ended March 31, 2026, compared to $11.3 million for the first quarter of 2025, an increase of $0.7 million. 

Our investment portfolio consists entirely of debt securities classified as available-for-sale; therefore, unrealized gains and losses are reflected in accumulated other comprehensive income within stockholders' equity.  None of our securities are classified as held-to-maturity.  The investment portfolio increased $7.4 million or 5% year over year and totaled $154.7 million at March 31, 2026, as compared to $147.4 million at March 31, 2025. 

Total loans increased $33.6 million, or 3%, to $1.31 billion at March 31, 2026, from $1.28 billion at March 31, 2025.  Nonperforming loans as a percentage of total loans were 0.55% as of March 31, 2026, compared to 0.40% at March 31, 2025.

The credit loss recovery was $0.3 million for the quarter ended March 31, 2026, compared to credit loss expense of $0.5 million at March 31, 2025.  The allowance for credit loss was $14.9 million at March 31, 2026 and represented 1.14% of gross loans, compared to $14.5 million at March 31, 2025 and 1.14% of gross loans.  Asset quality remains strong overall, despite a slight increase in nonperforming loans year-over-year. 

Total deposits increased by $6.1 million, year-over-year.  Total deposits were $1.309 billion at March 31, 2026, which consisted of approximately $10.0 million of brokered deposits.  Total deposits were $1.303 billion at March 31, 2025, which consisted of approximately $37.6 million of brokered deposits.  Without factoring in brokered deposits, total deposits increased approximately $34 million year-over-year.  Federal Home Loan Bank (FHLB) advances were $55.9 million and $32.9 million at March 31, 2026 and 2025, respectively. 

On March 10, 2026, the Board of Directors declared a regular dividend of $0.28 per share, payable April 9, 2026, to shareholders of record on March 31, 2026.

In announcing the results, Tri-County Financial Group, Inc. President and CEO Kirk Ross, stated, "Our first quarter results reflected solid earnings with strong growth in net interest income and continued improvement in our net interest margin.  With yield curves returning to a more normal state, our earnings improved with increased yields on our earning assets and lower funding costs.  We continue to see repricing in our loan portfolio and improvement in overall loan yields while maintaining a balanced approach to funding and growth.  Our focus remains on building long-term relationships, supporting our local communities, and managing risk thoughtfully.  While competition for deposits remains elevated, we are confident in our strategy and our ability to deliver consistent, relationship-driven service. "

Tri-County Financial Group, Inc. is the parent holding company for First State Bank, with offices in Mendota, Batavia, Bloomington, Champaign, Geneva, LaMoille, McNabb, North Aurora, Ottawa, Peru, Princeton, Rochelle, Shabbona, St. Charles, Streator, Sycamore, Waterman and West Brooklyn. First State Bank is the parent company of First State Mortgage Services, LLC and First State Insurance. Tri-County Financial Group, Inc. shares are quoted under the symbol TYFG and traded on OTCQX.

Note:  This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements due to various factors, including operating; legal and regulatory risks; changing economic and competitive conditions; and other risks and uncertainties.  Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. 

Contact:
Lana Eddy, Secretary
leddy@firststatebank.biz
815.538.2265

TRI COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
QUARTER ENDED MARCH 31ST
(Unaudited, 000s omitted, except share data)
			2026		2025
Interest Income			$    20,970		$    19,530
Interest Expense			7,286		7,892
Net Interest Income			13,684		11,638
Provision (Recovery) for Credit Losses			(305)		501
Net Interest Income After Provision (Recovery) for Credit Losses			13,989		11,137
Non-Interest Income			4,112		3,596
FDIC Assessments			177		166
Non-Interest Expenses			11,820		11,134
Income Before Income Taxes			6,104		3,433
Applicable Income Taxes			1,632		879
Security Gains (Losses)			-		-
Net Income (Loss)			$      4,472		$      2,554
Basic Net Income Per Share			$        1.88		$        1.07
Weighted Average Shares Outstanding			2,376,683		2,388,443

 

TRI-COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited, 000s omitted, except share data)
ASSETS		3/31/2026		3/31/2025
Cash and Due from Banks		$             48,539		$             43,692
Federal Funds Sold		1,481		1,842
Debt Securities Available-for-Sale		154,749		147,398
Loans and Leases		1,311,959		1,278,334
Less:  Allowance for Credit Losses		(14,893)		(14,504)
Loans, Net		1,297,066		1,263,830
Premises & Equipment		23,824		25,147
Intangibles		8,672		8,694
Other Real Estate Owned		101		241
Accrued Interest Receivable		8,978		8,198
Other Assets		38,178		37,450
TOTAL ASSETS		$        1,581,588		$        1,536,492
LIABILITIES
Demand Deposits		186,586		178,860
Interest-bearing Demand Deposits		437,998		417,340
Savings Deposits		204,717		203,928
Time Deposits		479,737		502,816
Total Deposits		1,309,038		1,302,944
Repurchase Agreements		21,846		22,266
FHLB and Other Borrowings		55,917		32,917
Interest Payable		160		160
Subordinated Debt		9,865		9,840
Total Repos & Borrowings		87,788		65,183
Other Liabilities		22,442		21,702
Dividends Payable		679		609
TOTAL LIABILITIES		$        1,419,947		$        1,390,438
STOCKHOLDERS' EQUITY
Common Stock		2,378		2,388
Additional Paid-in-Capital		20,545		20,956
Retained Earnings		144,879		131,750
Accumulated Other Comprehensive Loss		(6,161)		(9,040)
TOTAL STOCKHOLDERS' EQUITY		161,641		146,054
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$        1,581,588		$        1,536,492
Book Value Per Share		$              67.98		$              61.15
Tangible Book Value Per Share		$              64.33		$              57.51
Bid Price		$              52.05		$              44.50
Period End Outstanding Shares		2,377,898		2,388,443

 

 

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SOURCE Tri-County Financial Group, Inc

FAQ

What were Tri-County Financial Group (TYFG) Q1 2026 earnings and EPS?

Q1 2026 net income was $4.5 million and basic EPS was $1.88. According to the company, net income improved from $2.6 million and EPS from $1.07 in Q1 2025, driven by higher net interest income and a credit loss recovery.

How did TYFG's net interest income and loan growth perform in Q1 2026?

Net interest income for Q1 2026 was $13.7 million, up 18% year-over-year. According to the company, total loans increased by $33.6 million to $1.312 billion, reflecting loan repricing and yield improvement on earning assets.

What is TYFG's asset quality and allowance for credit losses as of March 31, 2026?

Allowance for credit losses was $14.9 million, representing 1.14% of gross loans. According to the company, nonperforming loans were 0.55% of total loans, up from 0.40% a year earlier, with overall asset quality described as strong.

Did Tri-County Financial (TYFG) change its dividend in April 2026?

The Board declared a regular dividend of $0.28 per share, payable April 9, 2026 to shareholders of record March 31, 2026. According to the company, the dividend reflects the Board's approved cash distribution for Q1 2026.

How did TYFG's deposit mix and borrowings change in Q1 2026?

Total deposits were $1.309 billion with brokered deposits of about $10.0 million. According to the company, FHLB advances increased to $55.9 million and total borrowings rose to $87.8 million, altering funding composition year-over-year.