White River Bancshares Co. Reports Net Income of $3.54 million, or $1.44 Per Diluted Share, in 3Q25; Results Highlighted by Pristine Credit Quality and Net Interest Margin Expansion

Rhea-AI Summary

White River Bancshares (OTCQX: WRIV) reported 3Q25 net income $3.54M ($1.44 diluted), up from $2.74M in 3Q24, and YTD net income $9.47M vs $5.10M a year ago. Key drivers included net interest income $12.8M (+35.8% YoY) and NIM expansion to 3.66% (+34 bps YoY).

Balance-sheet growth: loans $1.240B (+27.0% YoY), deposits $1.285B (+24.1% YoY), and tangible book value per share $43.73. Credit metrics remained strong with allowance for credit losses of $14.5M (1.16% of loans) and nonperforming loans at 0.03%.

Positive

• Net income increased to $3.54M in 3Q25
• Net interest income up 35.8% YoY to $12.8M
• Net loans increased 27.0% YoY to $1.240B
• Total deposits increased 24.1% YoY to $1.285B
• NIM expanded by 34 bps YoY to 3.66%
• Tangible book value per share $43.73

Negative

• Noninterest expense rose to $10.0M in 3Q25 from $8.3M a year ago
• Total interest expense increased to $9.88M in 3Q25 from $8.34M in 3Q24
• Cash and cash equivalents declined to $26.7M from $41.7M a year ago

FAYETTEVILLE, Ark., Oct. 21, 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 $3.54 million, or $1.44 per diluted share, in the third quarter of 2025, compared to $2.74 million, or $1.12 per diluted share, in the third quarter of 2024. The Company reported net income of $3.30 million, or $1.34 per diluted share, for the prior quarter. In the first nine months of 2025, net income increased to $9.47 million, or $3.85 per diluted share, compared to $5.10 million, or $2.28 per diluted share, in the first nine months of 2024. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.

“Our third-quarter earnings are a direct reflection of the strength of our bank’s culture,” said Gary Head, Chairman and CEO. “We’re demonstrating what’s possible when purpose-driven people come together to serve with integrity, build trust, and stay focused on long-term value — for both our customers and our shareholders. At the core of our culture is a deep commitment to building real relationships and a passion for truly serving our customers. Every day, we’re doing the work it takes to preserve the traditions of community banking. Our mission has always been to truly know our customers and anticipate their needs, because when our customers succeed, we succeed.”

“Our deposit base remains strong and continues to grow, and I am proud of how our team has embraced the challenge of building a low-cost deposit franchise,” said Scott Sandlin, Chief Strategy Officer. “Deposit gathering isn’t just a strategic priority—it’s becoming embedded in our banking mindset. It’s a regular part of our conversations across the organization, and there’s a shared understanding of how essential a strong deposit base is to supporting loan growth and strengthening customer relationships. That focus is paying off, with total deposits increasing 2.9% during the third quarter and 24.1% year-over-year. In today’s community banking landscape, success depends on both relationships and deposits, and that’s exactly where we’re directing our efforts.”

Third Quarter 2025 Financial Highlights:

• Net income for the third quarter of 2025 increased to $3.54 million, or $1.44 per diluted share, compared to $2.74 million, or $1.12 per diluted share, in the third quarter of 2024.
• Net interest income increased 35.8% to $12.8 million in the third quarter of 2025, compared to $9.4 million in the third quarter of 2024.
• Net interest margin (“NIM”) increased 34 basis points to 3.66% in the third quarter of 2025, compared to 3.32% in the third quarter of 2024.
• The Company recorded a $375,000 provision for credit losses in the third quarter of 2025. This compared to a $250,000 release from the allowance for credit losses in the third quarter of 2024.
• Net loans increased 27.0% to $1.240 billion at September 30, 2025, compared to $977.0 million at September 30, 2024.
• Nonperforming loans represented 0.03% of total loans at September 30, 2025, compared to 0.00% a year ago.
• Total deposits increased $249.6 million, or 24.1%, year-over-year, to $1.285 billion at September 30, 2025, compared to $1.036 billion at September 30, 2024.
• Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 69.9% of total deposits at September 30, 2025.
• Tangible book value per common share was $43.73 at September 30, 2025, compared to $39.15 a year ago.
  

Income Statement

The Company generated a return on average assets of 0.95% and a return on average equity of 13.07%, in the third quarter of 2025 compared to 0.94% and 12.62%, respectively, in the second quarter of 2025 and 0.91% and 11.33%, respectively, in the third quarter of 2024.

“In the third quarter our net interest margin expanded by 10 basis points compared to the prior quarter and by 34 basis points year-over-year, reflecting continued strong loan growth and higher returns on our interest-earning assets,” said Brant Ward, President. NIM was 3.66% in the third quarter of 2025, compared to 3.56% in the second quarter of 2025, and 3.32% in the third quarter of 2024. In the first nine months of 2025, NIM expanded 36 basis points to 3.54%, compared to 3.18% in the first nine months of 2024.

Net interest income increased 35.8% to $12.8 million in the third quarter of 2025, compared to $9.4 million in the third quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 27.6% to $22.7 million in the third quarter of 2025, compared to $17.8 million in the third quarter of 2024, primarily attributable to the increase in loans. Total interest expense increased to $9.9 million in the third quarter of 2025, from $8.3 million in the third quarter of 2024, primarily due to an increase in deposit costs. In the first nine months of 2025, net interest income increased 33.3% to $35.3 million, compared to $26.5 million in the first nine months of 2024.

Noninterest income increased 10.6% to $2.2 million in the third quarter of 2025, compared to $2.0 million in the third quarter of 2024. The increase was primarily due to an increase in wealth management fee income during the third quarter of 2025. In the first nine months of 2025, noninterest income increased 13.1% to $6.2 million, compared to $5.5 million in the first nine months of 2024.

Noninterest expense was $10.0 million in the third quarter of 2025, compared to $8.3 million in the third quarter of 2024. Higher salaries and benefits expense contributed to the increase compared to the year ago quarter. In the first nine months of the year, noninterest expense increased 11.1% to $27.4 million, compared to $24.6 million in the first nine months of 2024.

Balance Sheet

Total assets increased 22.5% to $1.489 billion at September 30, 2025, from $1.216 billion at September 30, 2024, and increased 3.9% compared to $1.434 billion at June 30, 2025. Cash and cash equivalents totaled $26.7 million at September 30, 2025, compared to $41.7 million a year ago. Investment securities totaled $151.2 million at September 30, 2025, an increase from $127.6 million at September 30, 2024.

Loans, net of allowance for credit losses, increased 27.0% to $1.240 billion at September 30, 2025, compared to $977.0 million at September 30, 2024, and increased 3.9% compared to $1.194 billion at June 30, 2025.

Total deposits increased 24.1% to $1.285 billion at September 30, 2025, compared to $1.036 billion at September 30, 2024, and increased 2.9% compared to $1.249 billion at June 30, 2025. Demand and non-interest-bearing deposits increased 6.7% compared to September 30, 2024, while savings and interest-bearing transaction accounts increased 23.4% compared to September 30, 2024.

FHLB advances were $34.4 million at September 30, 2025, compared to $26.7 million at September 30, 2024, and $21.5 million at June 30, 2025. Total stockholders’ equity increased to $108.1 million at September 30, 2025, compared to $97.2 million at September 30, 2024, and $102.5 million at June 30, 2025. Tangible book value per common share was $43.73 at September 30, 2025, compared to $39.15 at September 30, 2024, and $41.17 at June 30, 2025.

Credit Quality

Due to strong credit quality, the Company recorded a $375,000 provision for credit losses in the third quarter of 2025. This is compared to a $800,000 provision for credit losses in the second quarter of 2025, and a $250,000 release from the allowance for credit losses in the third quarter of 2024.

There were $365,000 in nonperforming loans at September 30, 2025, and at June 30, 2025. This compared to no nonperforming loans at September 30, 2024. Nonperforming loans represented 0.03% of total loans on September 30, 2025, and June 30, 2025, and 0.00% of total loans a year ago.

“We take a cautious approach to managing credit loss reserves, regularly analyzing our loan portfolio, monitoring growth patterns, and considering economic developments at both the regional and national level to keep our reserve levels aligned with potential risks,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $14.5 million, or 1.16% of total loans, at September 30, 2025, compared to $14.0 million, or 1.16% of total loans, at June 30, 2025, and $12.2 million, or 1.23% of total loans, at September 30, 2024.

Net loan charge-offs were $143,000 in the third quarter of 2025. This compared to net loan recoveries of $11,000 in the second quarter of 2025, and net loan recoveries of $19,000 in the third quarter of 2024.

Capital

The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 11.72%, a Tier 1 ratio of 10.47%, and a Leverage ratio of 8.94% for the Bank at September 30, 2025.

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.

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 $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

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 $441,000 in August 2025, with an average of 47 days on the market. For Benton County, the average house sold for $485,000, with an average of 40 days on the market.

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
		September 30,			June 30,			September 30,
			2025			2025			2024
INTEREST INCOME
Loans, including fees		$	21,184,478		$	19,611,698		$	16,329,569
Investment securities			1,381,205			1,431,773			1,079,376
Federal funds sold and other			119,881			175,917			365,012
Total interest income			22,685,564			21,219,388			17,773,957
INTEREST EXPENSE
Deposits			9,091,239			8,538,199			7,580,319
Federal Home Loan Bank advances			282,419			296,860			354,480
Notes payable			479,094			477,735			396,900
Federal funds purchased and other			22,998			7,113			12,152
Total interest expense			9,875,750			9,319,907			8,343,851
NET INTEREST INCOME			12,809,814			11,899,481			9,430,106
Provision for credit losses			375,000			800,000			(250,000	)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES			12,434,814			11,099,481			9,680,106
NON-INTEREST INCOME
Service charges and fees on deposits			177,602			162,185			164,982
Wealth management fee income			1,081,538			994,100			995,784
Secondary market fee income			241,847			223,956			244,063
Bank owned-life insurance income			83,967			82,190			82,285
Gain on sales and write-downs of foreclosed assets			-			15,475			70
Other			609,055			616,667			497,002
TOTAL NON-INTEREST INCOME			2,194,009			2,094,573			1,984,186
NON-INTEREST EXPENSE
Salaries and benefits			5,923,998			5,185,716			4,950,030
Occupancy and equipment			1,277,189			1,189,886			1,005,927
Data processing			931,121			857,198			718,976
Marketing and business development			492,582			609,549			445,286
Professional services			861,874			699,968			687,679
Amortization of other intangible assets			53,036			53,037			53,036
Other			469,692			326,224			400,942
TOTAL NON-INTEREST EXPENSE			10,009,492			8,921,578			8,261,876
Income before income taxes			4,619,331			4,272,476			3,402,416
Income tax provision			1,081,452			974,775			662,467
NET INCOME		$	3,537,879		$	3,297,701		$	2,739,949
EARNINGS PER SHARE
Basic		$	1.45		$	1.35		$	1.12
Diluted		$	1.44		$	1.34		$	1.12

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
			Nine Months Ended
			September 30,
				2025			2024
INTEREST INCOME
Loans, including fees			$	59,111,182		$	47,087,943
Investment securities				4,071,549			3,091,831
Federal funds sold and other				528,776			623,416
Total Interest Income				63,711,507			50,803,190
INTEREST EXPENSE
Deposits				25,941,893			21,671,624
Federal Home Loan Bank advances				972,336			1,323,062
Notes payable				1,432,254			1,192,934
Federal funds purchased and other				43,133			112,199
Total interest expense				28,389,616			24,299,819
NET INTEREST INCOME				35,321,891			26,503,371
Provision for credit losses				1,845,000			830,000
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES				33,476,891			25,673,371
NON-INTEREST INCOME
Service charges and fees on deposits				510,973			470,147
Wealth management fee income				3,093,467			2,906,843
Secondary market fee income				594,627			415,053
Bank owned life insurance income				246,760			242,644
Gain on sales and write-downs of foreclosed assets				15,475			1,446
Other				1,769,863			1,473,321
TOTAL NON-INTEREST INCOME				6,231,165			5,509,454
NON-INTEREST EXPENSE
Salaries and benefits				16,041,406			14,734,119
Occupancy and equipment				3,612,176			2,870,869
Data processing				2,646,434			2,213,625
Marketing and business development				1,499,268			1,382,601
Professional services				2,212,550			1,975,436
Amortization of intangible asset				159,109			159,109
Other				1,189,414			1,298,981
TOTAL NON-INTEREST EXPENSE				27,360,357			24,634,740
Income before income taxes				12,347,699			6,548,085
Income tax provision				2,882,312			1,449,871
NET INCOME			$	9,465,387		$	5,098,214
EARNINGS PER SHARE
Basic			$	3.87		$	2.28
Diluted			$	3.85		$	2.28

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)
			September 30, 2025				June 30, 2025				September 30, 2024
ASSETS
Cash and cash equivalents			$	26,693,919			$	25,604,276			$	41,716,400
Investment securities				151,214,197				140,544,711				127,611,833
Loans held for sale				2,353,071				2,442,642				1,840,634
Loans				1,254,892,691				1,208,102,220				989,199,456
Allowance for credit losses				(14,516,828	)			(14,033,740	)			(12,203,483	)
Net loans				1,240,375,863				1,194,068,480				976,995,973
Premises and equipment, net				37,028,441				37,411,490				35,808,779
Foreclosed assets held for sale				-				-				807,497
Accrued interest receivable				5,694,363				7,024,823				5,273,311
Bank owned life insurance				10,026,067				9,942,100				9,697,136
Deferred income taxes				3,938,119				4,522,795				3,678,102
Other investments				7,403,123				7,925,019				8,442,859
Intangible assets, net				1,644,131				1,697,167				1,856,277
Other assets				2,844,258				2,783,012				2,025,863
TOTAL ASSETS			$	1,489,215,552			$	1,433,966,515			$	1,215,754,664
LIABILITIES & STOCKHOLDERS' EQUITY
Deposits:
Demand and non-interest-bearing			$	234,374,901			$	233,078,431			$	219,590,080
Savings and interest-bearing transaction accounts				481,036,318				479,532,136				389,760,755
Time deposits				569,904,230				536,591,123				426,391,052
Total deposits				1,285,315,449				1,249,201,690				1,035,741,887
Federal Home Loan Bank advances				34,442,377				21,518,084				26,741,342
Notes payable				25,911,204				26,159,110				26,107,279
Operating lease liability				21,664,387				21,918,414				20,980,470
Reserve for losses on unfunded commitments				1,478,000				1,603,000				1,433,000
Accrued interest payable				2,487,967				2,636,403				2,676,428
Other liabilities				9,857,347				8,433,777				4,855,916
TOTAL LIABILITIES				1,381,156,731				1,331,470,478				1,118,536,322
Stockholders' equity:
Common stock (1)				24,726				24,876				24,698
Surplus (1)				102,795,195				102,893,483				102,557,371
Retained earnings				10,325,833				6,787,654				255,449
Treasury stock, at cost				(1,284,359	)			(1,284,359	)			(1,138,736	)
Accumulated other comprehensive loss				(3,802,574	)			(5,925,617	)			(4,480,440	)
TOTAL STOCKHOLDERS' EQUITY				108,058,821				102,496,037				97,218,342
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY			$	1,489,215,552			$	1,433,966,515			$	1,215,754,664
		(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
		September 30,				June 30,				September 30,
			2025				2025				2024
FOR THE PERIOD
Net income		$	3,537,879			$	3,297,701			$	2,739,949
Net income before taxes			4,619,331				4,272,476				3,402,416
Dividends declared per share			-				0.50				-
PERIOD END BALANCE
Total assets		$	1,489,215,552			$	1,433,966,515			$	1,215,754,664
Total investments			151,214,197				140,544,711				127,611,833
Total loans, net			1,240,375,863				1,194,068,480				976,995,973
Allowance for credit losses			(14,516,828)				(14,033,740)				(12,203,483)
Total deposits			1,285,315,449				1,249,201,690				1,035,741,887
Stockholders' equity			108,058,821				102,496,037				97,218,342
RATIO ANALYSIS
Return on average assets (annualized)			0.95	%			0.94	%			0.91	%
Return on average equity (annualized)			13.07	%			12.62	%			11.33	%
Net loans/Deposits			96.50	%			95.59	%			94.33	%
Total Stockholders' Equity/Total assets			7.26	%			7.15	%			8.00	%
Net loan losses/Total loans			0.01	%			0.00	%			0.00	%
Uninsured & unpledged deposits			27.71	%			32.37	%			29.71	%
PER SHARE DATA
Shares oustanding			2,433,245				2,448,246				2,435,597
Weighted average shares outstanding			2,448,082				2,448,734				2,435,637
Diluted weighted average shares outstanding			2,461,334				2,454,485				2,435,637
Basic earnings		$	1.45			$	1.35			$	1.12
Diluted earnings			1.44				1.34				1.12
Book value			44.41				41.87				39.92
Tangible book value			43.73				41.17				39.15
ASSET QUALITY
Net (recoveries) charge-offs		$	142,996			$	(10,889)			$	(19,353)
Classified assets			399,978				402,406				1,048,301
Nonperforming loans			364,583				364,853				-
Nonperforming assets			364,583				364,853				807,497
Total nonperforming loans/Total loans			0.03	%			0.03	%			0.00	%
Total nonperforming loans/Total assets			0.02	%			0.03	%			0.00	%
Total nonperforming assets/Total assets			0.02	%			0.03	%			0.07	%
Allowance for credit losses/Total loans			1.16	%			1.16	%			1.23	%

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)
			Three Months Ended
			September 30,									June 30,									September 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			$	10,868,303		$	119,881		4.38	%		$	15,102,485		$	175,917		4.67	%		$	27,017,413		$	365,012		5.37	%
Investment securities available-for-sale (1)				143,417,819			1,349,932		3.73	%			138,229,178			1,289,470		3.74	%			121,374,599			1,023,136		3.35	%
Loans receivable				1,232,089,067			21,184,478		6.82	%			1,169,591,045			19,611,698		6.73	%			974,934,024			16,329,569		6.66	%
Total interest-earning assets				1,386,375,189		$	22,654,291		6.48	%			1,322,922,708		$	21,077,085		6.39	%			1,123,326,036		$	17,717,717		6.27	%
Noninterest-earning assets				84,509,736									81,927,528									75,357,245
Total assets			$	1,470,884,925								$	1,404,850,236								$	1,198,683,281
Interest-bearing liabilities:
Interest-bearing deposits			$	1,042,365,371		$	9,091,239		3.46	%		$	985,435,006		$	8,538,199		3.48	%		$	800,328,274		$	7,580,319		3.77	%
FHLB advances and federal funds purchased				26,963,863			305,417		4.49	%			26,552,308			303,973		4.59	%			32,559,233			366,632		4.48	%
Notes payable				25,902,754			479,094		7.34	%			26,150,819			477,735		7.33	%			26,101,145			396,900		6.05	%
Total interest-bearing liabilities				1,095,231,988		$	9,875,750		3.58	%			1,038,138,133		$	9,319,907		3.60	%			858,988,652		$	8,343,851		3.86	%
Noninterest-bearing liabilities				268,274,441									261,876,451									243,528,526
Total liabilities				1,363,506,429									1,300,014,584									1,102,517,178
Stockholders' equity				107,378,496									104,835,652									96,166,103
Total liabilities and stockholders' equity			$	1,470,884,925								$	1,404,850,236								$	1,198,683,281
Net interest-earning assets			$	291,143,201								$	284,784,575								$	264,337,384
Net interest spread						$	12,778,541		2.91	%					$	11,757,178		2.79	%					$	9,373,866		2.41	%
Net interest margin									3.66	%								3.56	%								3.32	%
		(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)
			Nine Months Ended September 30,
				2025									2024
			Average						Average			Average						Average
			Balance			Interest			Yield/Rate			Balance			Interest			Yield/Rate
Interest-earning assets:
Federal funds sold and other			$	16,374,100		$	528,776		4.32	%		$	15,761,077		$	623,416		5.28	%
Investment securities available-for-sale (1)				138,387,499			3,848,225		3.72	%			116,764,427			2,865,922		3.28	%
Loans receivable				1,169,902,372			59,111,182		6.76	%			969,732,106			47,087,943		6.49	%
Total interest-earning assets				1,324,663,971		$	63,488,183		6.41	%			1,102,257,610		$	50,577,281		6.13	%
Noninterest-earning assets				82,762,667									73,533,851
Total assets			$	1,407,426,638								$	1,175,791,461
Interest-bearing liabilities:
Interest-bearing deposits			$	988,873,615		$	25,941,893		3.51	%		$	777,925,899		$	21,671,624		3.72	%
FHLB advances and federal funds purchased				30,021,535			1,015,469		4.52	%			41,217,976			1,435,261		4.65	%
Notes payable				26,060,939			1,432,254		7.35	%			26,257,231			1,192,934		6.07	%
Total interest-bearing liabilities				1,044,956,089		$	28,389,616		3.63	%			845,401,106		$	24,299,819		3.84	%
Noninterest-bearing liabilities				258,282,905									241,236,752
Total liabilities				1,303,238,994									1,086,637,858
Stockholders' equity				104,187,644									89,153,603
Total liabilities and stockholders' equity			$	1,407,426,638								$	1,175,791,461
Net interest-earning assets			$	279,707,882								$	256,856,504
Net interest spread						$	35,098,567		2.78	%					$	26,277,462		2.29	%
Net interest margin									3.54	%								3.18	%
		(1)	Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).

FAQ

What were White River Bancshares (WRIV) 3Q25 earnings per share and net income?

WRIV reported $3.54M net income in 3Q25, or $1.44 per diluted share.

How did White River Bancshares' net interest margin (NIM) change in 3Q25?

NIM expanded to 3.66% in 3Q25, up 34 basis points YoY.

How much did White River Bancshares' loans and deposits grow by September 30, 2025?

Net loans were $1.240B (+27.0% YoY) and total deposits were $1.285B (+24.1% YoY) at 9/30/2025.

What credit quality metrics did White River report for 3Q25 (WRIV)?

Allowance for credit losses was $14.5M (1.16% of loans) and nonperforming loans were 0.03% of loans at 9/30/2025.

Did White River Bancshares report any material capital or book-value changes in 3Q25?

Tangible book value per common share was $43.73 at 9/30/2025, up from $39.15 a year earlier.

What drove higher noninterest expense at White River Bancshares in 3Q25?

Noninterest expense rose to $10.0M in 3Q25, primarily due to higher salaries and benefits versus the prior-year quarter.