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Security Midwest Bancorp, Inc. (SBMW) has a significant shareholder reported on a Schedule 13G. WhiteRock Wealth Design LLC reports beneficial ownership of 76,125 shares of SBMW common stock, representing 8.6% of the class as of June 30, 2026.
WhiteRock Wealth Design LLC reports sole dispositive powerno sole or shared voting power
Security Midwest Bancorp, Inc. reported unaudited results for the three and six months ended June 30, 2026. Total assets were $244.5 million at June 30, 2026, compared with $256.5 million at December 31, 2025, as cash and cash equivalents declined while loans expanded.
Loans receivable grew to $137.7 million from $119.1 million, with net loans at $136.3 million after a $1.17 million allowance for credit losses under CECL. Total deposits were $184.4 million, down from $196.5 million, while Federal Home Loan Bank advances remained $35.0 million.
For the quarter, net interest income was $2.33 million and net income was $390,079. For the first half of 2026, net interest income was $4.53 million and net income was $808,222, with basic and diluted earnings per share of $0.47 for the quarter and $0.97 year-to-date. Comprehensive income for the first half, including other comprehensive income from securities and a cash flow hedge, totaled $1.10 million.
Security Midwest Bancorp, Inc. reported solid first‑quarter 2026 results, generating net income of $418,143, slightly above $401,545 a year earlier. Basic and diluted earnings per share were $0.50.
Total assets were $251.3 million as of March 31, 2026, with loans receivable of $129.4 million and deposits of $192.1 million. Nonperforming loans remained low at $221,595, while the allowance for credit losses on loans increased to $1.12 million, reflecting continued use of the CECL model.
The bank remains strongly capitalized. At March 31, 2026, its common equity Tier 1 capital ratio was 18.87% and total risk‑based capital ratio was 19.78%, both well above regulatory “well capitalized” thresholds. An interest rate swap designated as a cash flow hedge contributed an unrealized gain recorded in other comprehensive income.
Security Midwest Bancorp, Inc. filed Amendment No. 1 to its annual report for the year ended December 31, 2025 to add required Part III information on directors, governance, executive pay and ownership. The company states that previously reported financial statements and other Part I and II disclosures are unchanged.
The filing details a nine-member classified board, audit committee structure and code of ethics for senior officers. It reports aggregate market value of non‑affiliate equity of $8.4 million based on an OTCQB price of $11.40 per share and shows 889,781 shares outstanding as of March 23, 2026.
Named executive officer compensation for 2025 totals $318,398 for the CEO, $239,106 for the CFO and $219,369 for the Chief Lending Officer, including salary, bonuses and other benefits. Directors (other than the CEO) earned cash fees generally based on a $750 monthly board retainer plus committee retainers.
The amendment discloses an Employee Stock Ownership Plan holding 62,285 shares, or 7.0% of common stock, and that directors and executive officers as a group beneficially own 272,472 shares, or 30.6%. Loans to directors, executive officers and related parties totaled $7.78 million at December 31, 2025, all described as on market terms and performing. Audit fees to Wipfli LLP were $77,764 in 2025, with additional audit‑related and other SEC‑filing services also itemized.
Security Midwest Bancorp, Inc. is a Maryland holding company for Security Bank, a Springfield, Illinois community bank focused on traditional lending and a specialized cannabis-related business (CRB) deposit program. The bank completed its mutual-to-stock conversion in July 2025, selling 889,781 shares at $10.00 per share.
At December 31, 2025, the company reported total assets of $256.6 million, loans of $119.1 million, deposits of $196.5 million and shareholders’ equity of $22.6 million, generating net income of $299,000 for the year. The loan book is concentrated in commercial real estate (45.7%) and one- to four-family residential mortgages (29.5%), with additional exposure to commercial and industrial lending and home equity lines.
Credit quality metrics improved: nonaccrual loans fell to $317,000, or 0.27% of total loans, while the allowance for credit losses was $1.034 million, or 0.87% of loans, after modest net charge-offs. The bank relies primarily on core deposits, including CRB deposits across several Midwestern states, supplemented by $35.0 million of Federal Home Loan Bank advances.
Security Midwest Bancorp, Inc. notified the SEC that it cannot file its Annual Report on Form 10-K for the year ended December 31, 2025 by the prescribed due date of March 31, 2026 and expects to file within the 15‑calendar‑day extension allowed under Rule 12b-25.
The company says the delay is primarily to allow additional time for pre-filing procedures with its independent registered public accounting firm. The company expects to report net income of approximately $299,000 for 2025 versus $683,000 for 2024, and discloses a $998,000 non‑interest expense tied to withdrawal from its defined benefit pension plan for 2025.
Raymond James Financial Services Advisors, Inc. filed a beneficial ownership report showing it holds 64,187 shares of Security Midwest Bancorp, Inc. common stock, representing 7.2% of the class as of 12/31/2025. The firm reports no sole or shared voting power over these shares, but has sole power to dispose of them.
Raymond James states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Security Midwest Bancorp.
Security Midwest Bancorp, Inc. filed its quarterly report for the period ended September 30, 2025. The company completed its mutual-to-stock conversion on July 31, 2025, selling 889,781 shares at $10.00 for gross proceeds of $8,897,810. After approximately $1.55 million in offering costs, the company contributed $6.2 million to the bank, loaned $622,850 to its ESOP (which purchased 62,285 shares), and retained about $479,000.
Quarterly net income was $281,057, down from $371,263 a year ago, as higher noninterest expenses offset stronger net interest income. Year-to-date net income rose to $1,032,150 from $907,822. EPS was $0.34 for the quarter and $1.25 for the nine months. Net interest income improved to $1,969,945 in the quarter, while the provision for credit losses was $0.
Total assets were $203,868,750 versus $214,541,091 at year-end. Deposits were $179,750,881 versus $199,372,024. Loans receivable were $115,036,974 (net loans $113,885,820). Shareholders’ equity increased to $23,249,180 from $13,951,484, aided by the offering and an improvement in accumulated other comprehensive loss to $(3,194,982) from $(4,720,841).
Security Bank, s.b. Employee Stock Ownership Plan Trust filed a Schedule 13G reporting beneficial ownership of 62,285 shares of Security Midwest Bancorp, Inc. common stock, representing 7% of the class.
The trust reports sole voting power: 62,285 and sole dispositive power: 62,285, with no shared power. The date of event is 09/30/2025. The filing identifies Community Bank of Pleasant Hill dba First Trust of MidAmerica as trustee and classifies the filer as an employee benefit plan (EP).
The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.