White River Bancshares Co. Reports Net Income of $3.30 million, or $1.34 Per Diluted Share, in 2Q25; Results Driven by Loan Growth and Net Interest Margin Expansion
White River Bancshares Company (OTCQX: WRIV) reported its strongest quarterly performance ever with Q2 2025 net income of $3.30 million, or $1.34 per diluted share, up from $1.85 million in Q2 2024. The bank demonstrated robust growth with net loans increasing 21.6% year-over-year to $1.194 billion and total deposits growing 23.2% to $1.249 billion.
Key performance metrics showed significant improvement, with net interest margin expanding to 3.56%, up 31 basis points year-over-year. The bank maintained strong asset quality with nonperforming loans at just 0.03% of total loans. The company's tangible book value increased to $41.17 per share, up from $37.00 a year ago, while maintaining well-capitalized status with a total risk-based capital ratio of 11.69%.
White River Bancshares Company (OTCQX: WRIV) ha registrato il suo miglior trimestre di sempre con un utile netto nel secondo trimestre 2025 di 3,30 milioni di dollari, pari a 1,34 dollari per azione diluita, in crescita rispetto a 1,85 milioni nel secondo trimestre 2024. La banca ha mostrato una crescita solida con un aumento dei prestiti netti del 21,6% su base annua, raggiungendo 1,194 miliardi di dollari, e un incremento totale dei depositi del 23,2% a 1,249 miliardi di dollari.
I principali indicatori di performance hanno evidenziato un miglioramento significativo, con un margine di interesse netto che si è ampliato al 3,56%, in aumento di 31 punti base rispetto all'anno precedente. La banca ha mantenuto un'elevata qualità degli attivi, con prestiti non performanti pari a solo lo 0,03% del totale prestiti. Il valore contabile tangibile della società è salito a 41,17 dollari per azione, rispetto ai 37,00 dollari dell'anno precedente, mantenendo uno stato di solida capitalizzazione con un rapporto totale di capitale basato sul rischio dell'11,69%.
White River Bancshares Company (OTCQX: WRIV) reportó su mejor desempeño trimestral hasta la fecha con un ingreso neto en el segundo trimestre de 2025 de 3,30 millones de dólares, o 1,34 dólares por acción diluida, aumentando desde 1,85 millones en el segundo trimestre de 2024. El banco mostró un crecimiento sólido con un aumento del 21,6% interanual en préstamos netos hasta 1.194 millones de dólares y un crecimiento del 23,2% en depósitos totales hasta 1.249 millones de dólares.
Los principales indicadores de rendimiento mostraron una mejora significativa, con un margen de interés neto que se expandió al 3,56%, aumentando 31 puntos básicos interanuales. El banco mantuvo una alta calidad de activos con préstamos morosos en solo el 0,03% del total de préstamos. El valor contable tangible de la compañía aumentó a 41,17 dólares por acción, desde 37,00 dólares hace un año, manteniendo un estado de capitalización sólida con una ratio total de capital basado en riesgo del 11,69%.
White River Bancshares Company (OTCQX: WRIV)는 2025년 2분기 순이익 330만 달러 (희석 주당 1.34달러)로 역대 최고 분기 실적을 기록했으며, 이는 2024년 2분기의 185만 달러에서 증가한 수치입니다. 은행은 순대출금이 전년 대비 21.6% 증가하여 11억 9,400만 달러에 도달했고, 총 예금도 23.2% 증가하여 12억 4,900만 달러를 기록하는 등 견고한 성장을 보였습니다.
주요 성과 지표도 크게 개선되어 순이자마진이 3.56%로 확대되었으며, 전년 대비 31 베이시스 포인트 상승했습니다. 은행은 총 대출의 0.03%에 불과한 부실 대출 비율로 우수한 자산 품질을 유지했습니다. 회사의 유형 순자산 가치는 주당 41.17달러로 1년 전 37.00달러에서 상승했으며, 총 위험 기반 자본 비율 11.69%로 안정적인 자본 상태를 유지하고 있습니다.
White River Bancshares Company (OTCQX : WRIV) a annoncé sa meilleure performance trimestrielle à ce jour avec un résultat net du deuxième trimestre 2025 de 3,30 millions de dollars, soit 1,34 dollar par action diluée, en hausse par rapport à 1,85 million au deuxième trimestre 2024. La banque a affiché une croissance robuste avec une augmentation des prêts nets de 21,6 % sur un an pour atteindre 1,194 milliard de dollars et une croissance des dépôts totaux de 23,2 % à 1,249 milliard de dollars.
Les indicateurs clés de performance ont montré une amélioration significative, avec une marge nette d'intérêt qui s'est élargie à 3,56 %, soit une hausse de 31 points de base sur un an. La banque a maintenu une qualité d'actifs solide avec des prêts non performants représentant seulement 0,03 % du total des prêts. La valeur comptable tangible de la société a augmenté à 41,17 dollars par action, contre 37,00 dollars un an plus tôt, tout en conservant une situation bien capitalisée avec un ratio de capital total pondéré en fonction des risques de 11,69 %.
White River Bancshares Company (OTCQX: WRIV) verzeichnete mit einem Nettoeinkommen von 3,30 Millionen US-Dollar im zweiten Quartal 2025, bzw. 1,34 US-Dollar je verwässerter Aktie, die beste Quartalsleistung seiner Geschichte, gegenüber 1,85 Millionen im zweiten Quartal 2024. Die Bank zeigte ein starkes Wachstum mit einem Anstieg der Nettokredite um 21,6 % im Jahresvergleich auf 1,194 Milliarden US-Dollar und einem Gesamteinlagenwachstum von 23,2 % auf 1,249 Milliarden US-Dollar.
Wichtige Leistungskennzahlen verbesserten sich deutlich, mit einer Nettozinsmarge, die auf 3,56 % anstieg, was einem Zuwachs von 31 Basispunkten im Jahresvergleich entspricht. Die Bank behielt eine hohe Vermögensqualität bei, mit notleidenden Krediten von nur 0,03 % der Gesamtkredite. Der materielle Buchwert des Unternehmens stieg auf 41,17 US-Dollar je Aktie, gegenüber 37,00 US-Dollar vor einem Jahr, und die Bank behielt mit einer Gesamtkapitalquote von 11,69 % eine solide Kapitalausstattung bei.
- Record quarterly net income of $3.30 million, up 78.4% year-over-year
- Strong loan growth of 21.6% year-over-year to $1.194 billion
- Significant deposit growth of 23.2% year-over-year to $1.249 billion
- Net interest margin expanded by 31 basis points to 3.56%
- Excellent asset quality with nonperforming loans at only 0.03% of total loans
- Tangible book value increased to $41.17 from $37.00 year-over-year
- Increased provision for credit losses to $800,000 from $432,000 year-over-year
- Noninterest expenses increased to $8.9 million from $8.1 million in Q2 2024
- Demand and non-interest-bearing deposits decreased slightly year-over-year
FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) -- White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to
“We had a strong second quarter—the most profitable quarter we’ve ever had,” said Gary Head, Chairman and CEO. “We have been blessed to have incredible loan growth throughout the history of our company, and we build on that momentum quarter after quarter. Our Signature Bank family is the best group of bankers I’ve been associated with in my 43-year banking career. Their teamwork and commitment to excellence consistently go above and beyond expectations.”
“As a community bank, expanding our deposit base to support new loan growth is critical,” said Scott Sandlin, Chief Strategy Officer. “Our Bank has made deposit gathering a primary focus, and our team has done an outstanding job—deepening relationships with existing clients while also bringing in new customers. As a result, total deposits increased
Second Quarter 2025 Financial Highlights:
- Net income for the second quarter of 2025 increased to
$3.30 million , or$1.34 per diluted share, compared to$1.85 million , or$0.81 per diluted share, in the second quarter of 2024. - Net interest income increased
31.7% to$11.9 million in the second quarter of 2025, compared to$9.0 million in the second quarter of 2024. - Net interest margin (“NIM”) increased 31 basis points to
3.56% in the second quarter of 2025, compared to3.25% in the second quarter of 2024. - The Company recorded an
$800,000 provision for credit losses in the second quarter of 2025, compared to a$432,000 provision for credit losses in the second quarter of 2024. - Net loans increased
21.6% to$1.19 4 billion at June 30, 2025, compared to$982.3 million at June 30, 2024. - Nonperforming loans represented
0.03% of total loans at June 30, 2025, compared to0.00% a year ago. - Total deposits increased
$235.3 million , or23.2% , year-over-year, to$1.24 9 billion at June 30, 2025, compared to$1.01 4 billion at June 30, 2024. - Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under
$250,000 and CDARs reciprocal deposits) represented70.10% of total deposits at June 30, 2025. - Tangible book value per common share was
$41.17 at June 30, 2025, compared to$37.00 a year ago.
Income Statement
In the second quarter of 2025, the Company generated a return on average assets of
“Our second quarter net interest margin expanded by 17 basis points from the previous quarter and 31 basis points year-over-year, driven by loan growth and increased yields on our interest-earning assets,” said Brant Ward, President. NIM was
Net interest income increased
Noninterest income increased
Noninterest expense was
Balance Sheet
Total assets increased
Loans, net of allowance for credit losses, increased
Total deposits increased
FHLB advances were
Credit Quality
Due to strong quarterly loan growth, the Company recorded an
There were
“We remain conservative in building our credit loss reserves, continually reviewing our loan mix, assessing growth trends, and factoring in both regional and national economic conditions to ensure our allowance remains appropriately calibrated,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was
Net loan recoveries were
Capital
The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of
About White River Bancshares Company
White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.
In the second quarter of 2025, the Signature Bank celebrated its 20-year anniversary of service to its Arkansas communities. In tandem with the celebration, the organization updated its mission statement:
We are committed to being a trusted local bank for business owners, individuals, and families who seek personalized service from people they know. Our mission is to empower our customers to strengthen their connections through every interaction, ensuring that their dollars are reinvested locally to support the growth and prosperity of the community we share. We have a passion for preserving the traditions of community banking as we embrace the power of technology.
About the Region
White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.
The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley's Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new
The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.
The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for
Source:
http://www.nwarealtors.org/market-statistics/
Forward Looking Statements
This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
| Contact: | Scott Sandlin, Chief Strategy Officer |
| 479-684-3754 | |
| WHITE RIVER BANCSHARES COMPANY | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||
| (Unaudited) | |||||||||||
| For the Three Months Ended | |||||||||||
| June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| INTEREST INCOME | |||||||||||
| Loans, including fees | $ | 19,611,698 | $ | 18,315,006 | $ | 15,763,452 | |||||
| Investment securities | 1,431,773 | 1,258,571 | 1,083,415 | ||||||||
| Federal funds sold and other | 175,917 | 232,978 | 162,250 | ||||||||
| Total interest income | 21,219,388 | 19,806,555 | 17,009,117 | ||||||||
| INTEREST EXPENSE | |||||||||||
| Deposits | 8,538,199 | 8,312,455 | 7,106,512 | ||||||||
| Federal Home Loan Bank advances | 296,860 | 393,057 | 448,263 | ||||||||
| Notes payable | 477,735 | 475,425 | 398,017 | ||||||||
| Federal funds purchased and other | 7,113 | 13,022 | 21,787 | ||||||||
| Total interest expense | 9,319,907 | 9,193,959 | 7,974,579 | ||||||||
| NET INTEREST INCOME | 11,899,481 | 10,612,596 | 9,034,538 | ||||||||
| Provision for credit losses | 800,000 | 670,000 | 432,000 | ||||||||
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 11,099,481 | 9,942,596 | 8,602,538 | ||||||||
| NON-INTEREST INCOME | |||||||||||
| Service charges and fees on deposits | 162,185 | 171,186 | 154,816 | ||||||||
| Wealth management fee income | 994,100 | 1,017,829 | 1,065,553 | ||||||||
| Secondary market fee income | 223,956 | 128,824 | 113,926 | ||||||||
| Bank owned-life insurance income | 82,190 | 80,603 | 80,478 | ||||||||
| Gain on sales and write-downs of foreclosed assets | 15,475 | - | 326 | ||||||||
| Other | 616,667 | 544,141 | 527,064 | ||||||||
| TOTAL NON-INTEREST INCOME | 2,094,573 | 1,942,583 | 1,942,163 | ||||||||
| NON-INTEREST EXPENSE | |||||||||||
| Salaries and benefits | 5,185,716 | 4,931,692 | 4,784,556 | ||||||||
| Occupancy and equipment | 1,189,886 | 1,145,101 | 936,818 | ||||||||
| Data processing | 857,198 | 858,115 | 704,080 | ||||||||
| Marketing and business development | 609,549 | 397,137 | 473,618 | ||||||||
| Professional services | 699,968 | 650,708 | 617,890 | ||||||||
| Amortization of other intangible assets | 53,037 | 53,036 | 53,037 | ||||||||
| Other | 326,224 | 393,498 | 494,203 | ||||||||
| TOTAL NON-INTEREST EXPENSE | 8,921,578 | 8,429,287 | 8,064,202 | ||||||||
| Income before income taxes | 4,272,476 | 3,455,892 | 2,480,499 | ||||||||
| Income tax provision | 974,775 | 826,085 | 631,462 | ||||||||
| NET INCOME | $ | 3,297,701 | $ | 2,629,807 | $ | 1,849,037 | |||||
| EARNINGS PER SHARE | |||||||||||
| Basic (1) | $ | 1.35 | $ | 1.07 | $ | 0.81 | |||||
| Diluted (1) | $ | 1.34 | $ | 1.07 | $ | 0.81 | |||||
| (1 | ) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | |||||||||
| WHITE RIVER BANCSHARES COMPANY | |||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||
| (Unaudited) | |||||||||
| Six Months Ended | |||||||||
| June 30, | |||||||||
| 2025 | 2024 | ||||||||
| INTEREST INCOME | |||||||||
| Loans, including fees | $ | 37,926,704 | $ | 30,758,374 | |||||
| Investment securities | 2,690,344 | 2,012,455 | |||||||
| Federal funds sold and other | 408,895 | 258,404 | |||||||
| Total Interest Income | 41,025,943 | 33,029,233 | |||||||
| INTEREST EXPENSE | |||||||||
| Deposits | 16,850,654 | 14,091,305 | |||||||
| Federal Home Loan Bank advances | 689,917 | 968,582 | |||||||
| Notes payable | 953,160 | 796,034 | |||||||
| Federal funds purchased and other | 20,135 | 100,047 | |||||||
| Total interest expense | 18,513,866 | 15,955,968 | |||||||
| NET INTEREST INCOME | 22,512,077 | 17,073,265 | |||||||
| Provision for credit losses | 1,470,000 | 1,080,000 | |||||||
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 21,042,077 | 15,993,265 | |||||||
| NON-INTEREST INCOME | |||||||||
| Service charges and fees on deposits | 333,371 | 305,165 | |||||||
| Wealth management fee income | 2,011,929 | 1,911,059 | |||||||
| Secondary market fee income | 352,780 | 170,990 | |||||||
| Bank owned life insurance income | 162,793 | 160,359 | |||||||
| Gain on sales and write-downs of foreclosed assets | 15,475 | 1,376 | |||||||
| Other | 1,160,808 | 976,319 | |||||||
| TOTAL NON-INTEREST INCOME | 4,037,156 | 3,525,268 | |||||||
| NON-INTEREST EXPENSE | |||||||||
| Salaries and benefits | 10,117,408 | 9,784,089 | |||||||
| Occupancy and equipment | 2,334,987 | 1,864,942 | |||||||
| Data processing | 1,715,313 | 1,494,649 | |||||||
| Marketing and business development | 1,006,686 | 937,315 | |||||||
| Professional services | 1,350,676 | 1,287,757 | |||||||
| Amortization of intangible asset | 106,073 | 106,073 | |||||||
| Other | 719,722 | 898,039 | |||||||
| TOTAL NON-INTEREST EXPENSE | 17,350,865 | 16,372,864 | |||||||
| Income before income taxes | 7,728,368 | 3,145,669 | |||||||
| Income tax provision | 1,800,860 | 787,404 | |||||||
| NET INCOME | $ | 5,927,508 | $ | 2,358,265 | |||||
| EARNINGS PER SHARE | |||||||||
| Basic (1) | $ | 2.42 | $ | 1.11 | |||||
| Diluted (1) | $ | 2.42 | $ | 1.11 | |||||
| (1 | ) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | |||||||
| WHITE RIVER BANCSHARES COMPANY | ||||||||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||||||
| (Unaudited) | ||||||||||||||
| June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||||
| ASSETS | ||||||||||||||
| Cash and cash equivalents | $ | 25,604,276 | $ | 48,360,156 | $ | 49,495,763 | ||||||||
| Investment securities | 140,544,711 | 134,968,153 | 115,526,915 | |||||||||||
| Loans held for sale | 2,442,642 | 874,009 | 997,907 | |||||||||||
| Loans | 1,208,102,220 | 1,141,369,199 | 994,754,063 | |||||||||||
| Allowance for credit losses | (14,033,740 | ) | (13,347,855 | ) | (12,434,130 | ) | ||||||||
| Net loans | 1,194,068,480 | 1,128,021,344 | 982,319,933 | |||||||||||
| Premises and equipment, net | 37,411,490 | 35,647,835 | 30,442,837 | |||||||||||
| Foreclosed assets held for sale | - | 310,406 | 777,606 | |||||||||||
| Accrued interest receivable | 7,024,823 | 6,629,881 | 5,433,391 | |||||||||||
| Bank owned life insurance | 9,942,100 | 9,859,911 | 9,614,851 | |||||||||||
| Deferred income taxes | 4,522,795 | 4,220,559 | 4,788,942 | |||||||||||
| Other investments | 7,925,019 | 6,782,614 | 8,094,125 | |||||||||||
| Intangible assets, net | 1,697,167 | 1,750,204 | 1,909,313 | |||||||||||
| Other assets | 2,783,012 | 1,825,830 | 1,733,790 | |||||||||||
| TOTAL ASSETS | $ | 1,433,966,515 | $ | 1,379,250,902 | $ | 1,211,135,373 | ||||||||
| LIABILITIES & STOCKHOLDERS' EQUITY | ||||||||||||||
| Deposits: | ||||||||||||||
| Demand and non-interest-bearing | $ | 233,078,431 | $ | 231,331,391 | $ | 233,230,007 | ||||||||
| Savings and interest-bearing transaction accounts | 479,532,136 | 456,733,576 | 348,391,562 | |||||||||||
| Time deposits | 536,591,123 | 512,882,444 | 432,248,979 | |||||||||||
| Total deposits | 1,249,201,690 | 1,200,947,411 | 1,013,870,548 | |||||||||||
| Federal Home Loan Bank advances | 21,518,084 | 21,593,143 | 54,314,495 | |||||||||||
| Notes payable | 26,159,110 | 26,141,832 | 26,090,002 | |||||||||||
| Operating lease liability | 21,918,414 | 20,029,714 | 15,930,503 | |||||||||||
| Reserve for losses on unfunded commitments | 1,603,000 | 1,478,000 | 1,433,000 | |||||||||||
| Accrued interest payable | 2,636,403 | 2,731,699 | 2,714,687 | |||||||||||
| Other liabilities | 8,433,777 | 5,798,159 | 4,745,292 | |||||||||||
| TOTAL LIABILITIES | 1,331,470,478 | 1,278,719,958 | 1,119,098,527 | |||||||||||
| Stockholders' equity: | ||||||||||||||
| Common stock (1) | 24,876 | 24,882 | 24,698 | |||||||||||
| Surplus (1) | 102,893,483 | 102,784,831 | 102,457,705 | |||||||||||
| Retained earnings (accumulated deficit) | 6,787,654 | 4,714,375 | (2,484,500 | ) | ||||||||||
| Treasury stock, at cost | (1,284,359 | ) | (1,265,731 | ) | (1,132,905 | ) | ||||||||
| Accumulated other comprehensive loss | (5,925,617 | ) | (5,727,413 | ) | (6,828,152 | ) | ||||||||
| TOTAL STOCKHOLDERS' EQUITY | 102,496,037 | 100,530,944 | 92,036,846 | |||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,433,966,515 | $ | 1,379,250,902 | $ | 1,211,135,373 | ||||||||
| (1 | ) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | ||||||||||||
| WHITE RIVER BANCSHARES COMPANY | ||||||||||||||
| SUPPLEMENTAL INFORMATION | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Three Months Ended | ||||||||||||||
| June 30, | March 31, | June 30, | ||||||||||||
| FOR THE PERIOD | ||||||||||||||
| Net income | $ | 3,297,701 | $ | 2,629,807 | $ | 1,849,037 | ||||||||
| Net income before taxes | 4,272,476 | 3,455,892 | 2,480,499 | |||||||||||
| Dividends declared per share (1) | 0.50 | - | 0.50 | |||||||||||
| PERIOD END BALANCE | ||||||||||||||
| Total assets | $ | 1,433,966,515 | $ | 1,379,250,902 | $ | 1,211,135,373 | ||||||||
| Total investments | 140,544,711 | 134,968,153 | 115,526,915 | |||||||||||
| Total loans, net | 1,194,068,480 | 1,128,021,344 | 982,319,933 | |||||||||||
| Allowance for credit losses | (14,033,740 | ) | (13,347,855 | ) | (12,434,131 | ) | ||||||||
| Total deposits | 1,249,201,690 | 1,200,947,411 | 1,013,870,548 | |||||||||||
| Stockholders' equity | 102,496,037 | 100,530,944 | 92,036,846 | |||||||||||
| RATIO ANALYSIS | ||||||||||||||
| Return on average assets (annualized) | 0.94 | % | 0.79 | % | 0.63 | % | ||||||||
| Return on average equity (annualized) | 12.62 | % | 10.64 | % | 8.26 | % | ||||||||
| Net loans/Deposits | 95.59 | % | 93.93 | % | 96.89 | % | ||||||||
| Total Stockholders' Equity/Total assets | 7.15 | % | 7.29 | % | 7.60 | % | ||||||||
| Net loan losses/Total loans | -0.00 | % | 0.01 | % | 0.01 | % | ||||||||
| Uninsured & unpledged deposits | 32.37 | % | 31.00 | % | 31.21 | % | ||||||||
| PER SHARE DATA | ||||||||||||||
| Shares outstanding (1) | 2,448,246 | 2,449,317 | 2,435,700 | |||||||||||
| Weighted average shares outstanding (1) | 2,448,734 | 2,446,747 | 2,291,316 | |||||||||||
| Diluted weighted average shares outstanding (1) | 2,454,485 | 2,451,161 | 2,291,316 | |||||||||||
| Basic earnings (1) | $ | 1.35 | $ | 1.07 | $ | 0.81 | ||||||||
| Diluted earnings (1) | 1.34 | 1.07 | 0.81 | |||||||||||
| Book value (1) | 41.87 | 41.04 | 37.79 | |||||||||||
| Tangible book value (1) | 41.17 | 40.33 | 37.00 | |||||||||||
| ASSET QUALITY | ||||||||||||||
| Net (recoveries) charge-offs | $ | (10,889 | ) | $ | 136,970 | $ | 110,968 | |||||||
| Classified assets | 402,406 | 853,745 | 1,090,758 | |||||||||||
| Nonperforming loans | 364,853 | 419,985 | 32,054 | |||||||||||
| Nonperforming assets | 364,853 | 730,391 | 809,660 | |||||||||||
| Total nonperforming loans/Total loans | 0.03 | % | 0.04 | % | 0.00 | % | ||||||||
| Total nonperforming loans/Total assets | 0.03 | % | 0.03 | % | 0.00 | % | ||||||||
| Total nonperforming assets/Total assets | 0.03 | % | 0.05 | % | 0.07 | % | ||||||||
| Allowance for credit losses/Total loans | 1.16 | % | 1.17 | % | 1.25 | % | ||||||||
| (1 | ) | Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2024. | ||||||||||||
| WHITE RIVER BANCSHARES COMPANY | |||||||||||||||||||||||||||||
| INTEREST INCOME AND EXPENSE | |||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| June 30, | March 31, | June 30, | |||||||||||||||||||||||||||
| 2025 | 2025 | 2024 | |||||||||||||||||||||||||||
| Average | Average | Average | Average | Average | Average | ||||||||||||||||||||||||
| Balance | Interest | Yield/Rate | Balance | Interest | Yield/Rate | Balance | Interest | Yield/Rate | |||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||
| Federal funds sold and other | $ | 15,102,485 | $ | 175,917 | 4.67 | % | $ | 23,287,989 | $ | 232,978 | 4.06 | % | $ | 11,798,448 | $ | 162,250 | 5.53 | % | |||||||||||
| Investment securities available-for-sale (1) | 138,229,178 | 1,289,470 | 3.74 | % | 133,405,472 | 1,208,821 | 3.67 | % | 114,427,481 | 941,900 | 3.31 | % | |||||||||||||||||
| Loans receivable | 1,169,591,045 | 19,611,698 | 6.73 | % | 1,106,648,533 | 18,315,006 | 6.71 | % | 973,396,880 | 15,763,452 | 6.51 | % | |||||||||||||||||
| Total interest-earning assets | 1,322,922,708 | $ | 21,077,085 | 6.39 | % | 1,263,341,994 | $ | 19,756,805 | 6.34 | % | 1,099,622,809 | $ | 16,867,602 | 6.17 | % | ||||||||||||||
| Noninterest-earning assets | 81,927,528 | 81,821,189 | 74,503,352 | ||||||||||||||||||||||||||
| Total assets | $ | 1,404,850,236 | $ | 1,345,163,183 | $ | 1,174,126,161 | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||
| Interest-bearing deposits | $ | 985,435,006 | $ | 8,538,199 | 3.48 | % | $ | 937,669,969 | $ | 8,312,455 | 3.60 | % | $ | 770,303,642 | $ | 7,106,512 | 3.71 | % | |||||||||||
| FHLB advances and federal funds purchased | 26,552,308 | 303,973 | 4.59 | % | 36,654,930 | 406,079 | 4.49 | % | 40,440,625 | 470,050 | 4.67 | % | |||||||||||||||||
| Notes payable | 26,150,819 | 477,735 | 7.33 | % | 26,131,761 | 475,425 | 7.38 | % | 25,506,601 | 398,017 | 6.28 | % | |||||||||||||||||
| Total interest-bearing liabilities | 1,038,138,133 | $ | 9,319,907 | 3.60 | % | 1,000,456,660 | $ | 9,193,959 | 3.73 | % | 836,250,868 | $ | 7,974,579 | 3.84 | % | ||||||||||||||
| Noninterest-bearing liabilities | 261,876,451 | 244,466,979 | 247,820,333 | ||||||||||||||||||||||||||
| Total liabilities | 1,300,014,584 | 1,244,923,639 | 1,084,071,201 | ||||||||||||||||||||||||||
| Stockholders' equity | 104,835,652 | 100,239,544 | 90,054,960 | ||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 1,404,850,236 | $ | 1,345,163,183 | $ | 1,174,126,161 | |||||||||||||||||||||||
| Net interest-earning assets | $ | 284,784,575 | $ | 262,885,334 | $ | 263,371,941 | |||||||||||||||||||||||
| Net interest spread | $ | 11,757,178 | 2.79 | % | $ | 10,562,846 | 2.61 | % | $ | 8,893,023 | 2.33 | % | |||||||||||||||||
| Net interest margin | 3.56 | % | 3.39 | % | 3.25 | % | |||||||||||||||||||||||
| (1 | ) | Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares). | |||||||||||||||||||||||||||
| WHITE RIVER BANCSHARES COMPANY | ||||||||||||||||||||
| INTEREST INCOME AND EXPENSE | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| Six Months Ended June 30, | ||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||
| Average | Average | Average | Average | |||||||||||||||||
| Balance | Interest | Yield/Rate | Balance | Interest | Yield/Rate | |||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||
| Federal funds sold and other | $ | 19,172,625 | $ | 408,895 | 4.30 | % | $ | 10,071,062 | $ | 258,404 | 5.16 | % | ||||||||
| Investment securities available-for-sale (1) | 135,830,651 | 2,498,291 | 3.71 | % | 114,434,010 | 1,842,786 | 3.24 | % | ||||||||||||
| Loans receivable | 1,138,293,665 | 37,926,704 | 6.72 | % | 967,102,566 | 30,758,374 | 6.40 | % | ||||||||||||
| Total interest-earning assets | 1,293,296,941 | $ | 40,833,890 | 6.37 | % | 1,091,607,638 | $ | 32,859,564 | 6.05 | % | ||||||||||
| Noninterest-earning assets | 81,874,656 | 72,612,145 | ||||||||||||||||||
| Total assets | $ | 1,375,171,597 | $ | 1,164,219,783 | ||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||
| Interest-bearing deposits | $ | 961,684,434 | $ | 16,850,654 | 3.53 | % | $ | 766,601,621 | $ | 14,091,305 | 3.70 | % | ||||||||
| FHLB advances and federal funds purchased | 31,575,711 | 710,052 | 4.53 | % | 45,594,923 | 1,068,629 | 4.71 | % | ||||||||||||
| Notes payable | 26,141,343 | 953,160 | 7.35 | % | 25,500,463 | 796,034 | 6.28 | % | ||||||||||||
| Total interest-bearing liabilities | 1,019,401,488 | $ | 18,513,866 | 3.66 | % | 837,697,007 | $ | 15,955,968 | 3.83 | % | ||||||||||
| Noninterest-bearing liabilities | 253,207,317 | 240,831,655 | ||||||||||||||||||
| Total liabilities | 1,272,608,805 | 1,078,528,662 | ||||||||||||||||||
| Stockholders' equity | 102,562,792 | 85,691,121 | ||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 1,375,171,597 | $ | 1,164,219,783 | ||||||||||||||||
| Net interest-earning assets | $ | 273,895,453 | $ | 253,910,631 | ||||||||||||||||
| Net interest spread | $ | 22,320,024 | 2.70 | % | $ | 16,903,596 | 2.22 | % | ||||||||||||
| Net interest margin | 3.48 | % | 3.11 | % | ||||||||||||||||
| (1 | ) | Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares). | ||||||||||||||||||
FAQ
What was White River Bancshares (WRIV) earnings per share in Q2 2025?
How much did WRIV's deposits grow in Q2 2025?
What was White River Bancshares' net interest margin in Q2 2025?
How much did WRIV's loan portfolio grow in Q2 2025?
What was WRIV's asset quality in Q2 2025?
