Steele Bancorp Q3 2026 earnings total $5.46M

Higher net interest income contrasts with the prior-year merger gain and expenses, and Steele says the periods are not directly comparable.

Rhea-AI Filing Summary

Steele Bancorp, Inc. (STLE) reported third-quarter 2026 net income of $5.462 million, down 60.1% from $13.677 million a year earlier. Net interest income increased 38.1% to $13.626 million, and GAAP net interest margin was 4.46%, versus 3.90%. The company cautioned that year-over-year results are not directly comparable: 2026 reflects the post-merger company, while 2025 includes merger-related items.

The prior-year quarter included a $17.827 million bargain purchase gain and $3.873 million in merger expenses. The company attributed higher net interest income mainly to growth in loan and securities balances, partly offset by higher deposit interest expense. Noninterest income was $1.719 million, versus $19.032 million in 2025, primarily due to the prior-year gain.

As of September 30, 2026, assets were $1.275233 billion and deposits were $1.123320 billion. Subordinated debt was paid off at its June 30, 2026 call date; senior secured debt was $7.374 million after a June 26, 2026 issuance. Available borrowing capacity was $498.26 million at the Federal Home Loan Bank of Pittsburgh and $4.21 million at the Federal Reserve Discount Window.

1 point · 0 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 2 points

How the balance works

Positive

• Moderate pointNet interest income rose 38.1% to $13.626 million; periods are not directly comparable.

Negative

• Moderate pointNet income fell 60.1% to $5.462 million; periods are not directly comparable.
• Minor pointNoninterest income fell 91.0%, primarily due to the prior-year bargain gain.

Filing Explained

At September 30, 2026, nonperforming assets were $7,282 thousand, versus $1,591 thousand at September 30, 2025; the ratio of nonperforming assets to loans plus other real estate owned was 0.80%, versus 0.18%.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $5.462 million Net interest income: $13.626 million Basic and diluted earnings per share: $1.60 per share +5 more

8 metrics

Net income $5.462 million Three months ended September 30, 2026; 60.1% below the year-earlier quarter.

Net interest income $13.626 million Three months ended September 30, 2026; 38.1% increase from 2025.

Basic and diluted earnings per share $1.60 per share Three months ended September 30, 2026; compared with $4.77 per share in 2025.

GAAP net interest margin 4.46% Three months ended September 30, 2026; compared with 3.90% in 2025.

Total assets $1.275233 billion As of September 30, 2026.

Total deposits $1.123320 billion As of September 30, 2026.

Federal Home Loan Bank of Pittsburgh additional borrowing capacity $498.26 million As of September 30, 2026.

Federal Reserve Discount Window additional borrowing capacity $4.21 million As of September 30, 2026.

Key Terms

GAAP, tax-equivalent net interest margin, bargain purchase gain, Allowance for credit losses on loans, +1 more

5 terms

GAAP financial

"U.S. generally accepted accounting principles (“GAAP”)"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

tax-equivalent net interest margin financial

"tax-equivalent net interest margin (Non-GAAP)"

Net interest margin measures the percentage difference between interest a lender earns on its assets and interest it pays on liabilities; tax-equivalent net interest margin adjusts that figure to account for tax-exempt interest by converting it into the taxable-equivalent yield using a chosen tax rate. This makes the margin comparable across institutions or assets by reflecting what tax-free income would be worth if it were taxed, like converting prices into the same currency so you can compare them directly.

bargain purchase gain financial

"Bargain purchase gain"

A bargain purchase gain happens when a buyer acquires another company's assets for less than those assets' estimated fair value, producing an immediate accounting profit for the buyer. For investors, it matters because that one-time gain boosts the acquirer's reported earnings and can signal a very favorable deal — like finding a valuable item at a steep discount — but it may also prompt scrutiny about whether asset values or the deal terms were estimated correctly.

Allowance for credit losses on loans financial

"Allowance for credit losses on loans"

A bank's allowance for credit losses on loans is a reserve of money set aside to cover loans the lender expects may not be repaid. Think of it as a rainy-day fund for a loan portfolio: larger allowances signal more expected losses and reduce reported profits and available capital, so investors watch it to judge a lender’s risk exposure, earnings quality, and financial strength.

core deposit intangible financial

"Core deposit intangible, net"

Core deposit intangible is an accounting asset that represents the value of customer deposits a bank gains, usually through an acquisition, because those deposits provide a stable, low-cost source of funding. Think of it like paying for a loyal customer list that will save the bank money over time; it is written down over several years and affects reported earnings and the apparent cost of acquiring new funds, so investors watch it to understand future profitability and capital impact.

Earnings Snapshot

Net income: $5.462 million

Three months ended September 30, 2026

Net income $5.462 million 60.1% decrease from $13.677 million in 2025

Net interest income $13.626 million 38.1% increase from $9.864 million in 2025

Basic and diluted earnings per share $1.60 per share Compared with $4.77 per share in 2025

GAAP net interest margin 4.46% Compared with 3.90% in 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much net income did STLE report in the third quarter of 2026?

Steele Bancorp reported $5.462 million in net income for the three months ended September 30, 2026, compared with $13.677 million a year earlier. Basic and diluted earnings per share were $1.60. The company said year-over-year results are not directly comparable because the 2025 comparison includes merger-related items.

Why are STLE's third-quarter 2026 results not directly comparable with 2025?

The 2026 results reflect the post-merger company, while the 2025 comparative periods reflect the merger completed on August 1, 2025, and include one-time merger-related income and expense. Third-quarter 2025 included a $17.827 million bargain purchase gain and $3.873 million in merger expenses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/23/2026 - 08:49 AM EDT Accepted by SEC EDGAR 10/23/2026 - 08:47 AM EDT Learn about SEC filing dates

false 0000779227 0000779227 2026-10-23 2026-10-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

October 23, 2026

Date of Report (Date of earliest event reported)

Steele Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Pennsylvania	333-284191	23-2362874
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

250 East Chestnut Street

Mifflinburg, PA 17844

(Address of principal executive offices)

570-966-1041

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	None	None

Indicated by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2) ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 23, 2026, Steele Bancorp, Inc. issued a press release titled “Steele Bancorp, Inc. Reports Third Quarter 2026 Earnings” for the period ended September 30, 2026.  A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 2.02. 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits.

ExhibitNumber	Description
99.1	Press Release issued by Steele Bancorp, Inc. on October 23, 2026 titled “Steele Bancorp, Inc. Reports Third Quarter 2026 Earnings”
104	Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Date:         October 23, 2026	Steele Bancorp, Inc.
	By:	/s/ Thomas C. Graver Jr.
	Name: Thomas C. Graver Jr.
	Title: Senior Executive Vice President & Chief Financial Officer

Exhibit 99.1

Press Release – For Immediate Release

Friday, October 23, 2026

Steele Bancorp, Inc. Reports Third Quarter 2026 Earnings

Mifflinburg, PA – Steele Bancorp, Inc. (“Company”) (OTCID: “STLE”), parent company of Central Penn Bank & Trust (“Bank”), has released its unaudited results of operations and financial condition for the third quarter of 2026.  The Company completed its merger with Northumberland Bancorp on August 1, 2025.  The 2026 results reflect the post-merger Company, while the comparative 2025 periods reflect the merger on August 1, 2025 and include one time income and expense amounts attributable to the merger discussed below.  Accordingly, the year-over-year results are not directly comparable.  

Unaudited Financial Information

Net income, as reported under U.S. generally accepted accounting principles (“GAAP”), for the quarter ended September 30, 2026, was $5.46 million compared to $13.68 million for the same period in 2025, a 60.1% decrease. Net income year-to-date for 2026 was $15.60 million compared to $17.30 million for the same period in 2025, a 9.9% decrease. Basic and diluted earnings per share for the quarters ended September 30, 2026 and 2025 were $1.60 and $4.77 and $4.58 and $7.87 for the nine months ended September 30, 2026 and 2025, respectively. Annualized return on average assets and return on average equity were 1.69% and 17.15% for the three-month period ended September 30, 2026 compared to 5.19% and 56.35% for the same period of 2025. Net income for the quarter and nine months ended September 30, 2025 was significantly impacted by certain merger related income and expense amounts discussed below.  

Net interest income for the three months ended September 30, 2026 was $13.63 million compared to $9.86 million for the same period in 2025, a 38.1% increase. Net interest income for the nine months ended September 30, 2026 was $38.50 million compared to $19.59 million for the same period in 2025, a 96.5% increase.  The increase in net interest income was primarily driven by higher interest income resulting from growth in loan and securities balances, offset by increased interest expense due to an increase in deposits resulting from the merger with Northumberland Bancorp ("Northumberland"). Yield on earning assets increased 33 basis points, to 6.11% for the quarter ended September 30, 2026 compared to 5.78% for the quarter ended September 30, 2025, and the cost of funds decreased 36 basis points, to 2.00%, as compared to the same time period in 2025. The net interest margin (GAAP) increased from 3.90% for the quarter ended September 30, 2025 to 4.46% for the quarter ended September 30, 2026. The tax-equivalent net interest margin (Non-GAAP) increased from 3.97% for the quarter ended September 30, 2025 to 4.53% for the quarter ended September 30, 2026. Yield on earning assets increased 45 basis points, to 5.98% for the nine months ended September 30, 2026 compared to 5.53% for the nine months ended September 30, 2025, and the cost of funds decreased 25 basis points, to 2.12%, as compared to the same time period in 2025. The net interest margin (GAAP) increased from 3.62% for the nine months ended September 30, 2025 to 4.28% for the nine months ended September 30, 2026. The tax-equivalent net interest margin (Non-GAAP) increased from 3.69% for the nine months ended September 30, 2025 to 4.35% for the nine months ended September 30, 2026. 

The Bank recorded a provision for credit losses for loans of $625 thousand for the three months ended September 30, 2026 compared to a provision of $4.23 million for the three months ended September 30, 2025. The Bank recorded a provision for credit losses for loans of $703 thousand for the nine months ended September 30, 2026, compared to a provision of $4.49 million for the nine months ended September 30, 2025.  The Bank recorded a provision for credit losses for off balance sheet credit exposures of $8 thousand for the three months ended September 30, 2026. The Bank did not record a provision for or recovery of credit losses for off balance sheet credit exposures for the three months ended September 30, 2025.  The Bank recorded a recovery of credit losses for off balance sheet exposures of $85 thousand for the nine months ended September 30, 2026, compared to a recovery of $100 thousand for the nine months ended September 30, 2025.  

Noninterest income decreased by $17.31 million, or 91.0%, to $1.72 million for the three months ended September 30, 2026, as compared to the $19.03 million recognized during the same period of 2025.  Noninterest income for the nine months ended September 30, 2026 was $5.17 million compared to $20.15 million for the same period in 2025, a 74.4% decrease.  The decrease in noninterest income is primarily due to the $17.83 million bargain purchase gain recorded in the third quarter of 2025 due to the merger with Northumberland. 

Noninterest expense decreased $2.76 million or 25.4%, from $10.89 million for the three months ended September 30, 2025, to $8.12 million for the three months ended September 30, 2026. The decrease in noninterest expense for the three months ended September 30, 2026 is primarily the result of $3.87 million of merger expenses being recorded in 2025 for which there was no comparable expense in 2026. Noninterest expense for the nine months ended September 30, 2025 was $17.11 million compared to $24.10 million for the same period in 2026, a 40.8% increase.  The increase in noninterest expense year-to-date is primarily the result of an increase of $5.35 million in salaries and employee benefits, an increase of $1.51 million in amortization of core deposit intangible and an increase of $1.11 million in other expenses, offset by the $4.12 million of merger expenses recognized in 2025 for which there was no comparable expense in 2026. All increases are the direct result of the merger with Northumberland.   

An income tax provision of $1.13 million was recorded for the three months ended September 30, 2026, compared to $105 thousand for the three months ended September 30, 2025, a 974.3% increase. An income tax provision of $3.35 million was recorded for the nine months ended September 30, 2026, compared to an income tax provision of $932 thousand for the same period in 2025, a 259.5% increase.  The increase in income tax for the three and nine months ended September 30, 2026 when compared to the same periods in 2025 is due to non-taxable income and nondeductible merger expenses recorded in the third quarter of 2025.  Included in noninterest income for 2025 is the bargain purchase gain of $17.83 million, which is non-taxable as a result of the tax-free exchange associated with the merger with Northumberland.  The quarter and year-to-date effective tax rate was 17.1% and 17.7% for the periods ended September 30, 2026. 

Financial Condition

Total assets increased to $1.28 billion as of September 30, 2026 from $1.26 billion as of December 31, 2025, an increase of $13.78 million, or 1.1%. Cash and cash equivalents increased $19.64 million from December 31, 2025 to September 30, 2026. Net loans decreased by $7.48 million, and securities available for sale increased $4.92 million. Total deposits increased $12.55 million from December 31, 2025 to September 30, 2026. Subordinated debt decreased $9.89 million from December 31, 2025 due to the pay-off at the call date on June 30, 2026.  Senior secured debt increased by $7.37 million as a result of the new debt issuance that was executed on June 26, 2026.

When compared to December 31, 2025, stockholders’ equity, excluding accumulated other comprehensive loss, increased $13.01 million to $132.55 million as of September 30, 2026. Steele Bancorp, Inc. remains well capitalized, and the total equity-to-assets ratio was 9.93% as of September 30, 2026 and 9.39% as of December 31, 2025, respectively.

The Bank maintained a strong liquidity position as of September 30, 2026, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $498.26 million and $4.21 million in additional borrowing capacity from the Federal Reserve’s Discount Window.

About Steele Bancorp, Inc.

Steele Bancorp, Inc. is a bank holding company headquartered in Mifflinburg, Pennsylvania. The Company has one subsidiary bank, Central Penn Bank & Trust, serving individuals, families, nonprofits, and business clients through 12 banking offices located in Centre, Northumberland, Snyder, and Union counties. The Bank has 165 employees as of September 30, 2026.

Non-GAAP Financial Measures

The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles ("GAAP") and prevailing practices in the banking industry.  However, management uses certain non-GAAP measures to supplement the evaluation of the Company's performance.  Management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's core businesses.  These non-GAAP disclosures should not be viewed as a substitute for, or more important than, operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.  Reconciliations of GAAP to non-GAAP measures are included at the end of this release.  

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to, the following: costs or difficulties related to integration following the merger with Northumberland; the risk that the anticipated benefits, cost savings and other savings from the merger may not be fully realized or may take longer than expected to realize; changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit losses on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; the impact to the economy resulting from the conflict with Iran; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements. 

Steele Bancorp, Inc. and Subsidiary

Consolidated Balance Sheets

($ in thousands, except per share data)

		(Unaudited)
		September 30,				December 31,
		2026				2025 *
Assets
Cash and due from banks		$	12,442			$	7,633
Interest-bearing demand deposits			41,155				35,204
Federal funds sold			15,056				6,173
Total cash and cash equivalents			68,653				49,010
Interest-bearing time deposits			3,466				5,923
Debt securities available-for-sale, at fair value			225,729				220,807
Marketable equity securities, at fair value			828				613
Restricted investments in bank stock, at cost			2,450				2,717
Loans held for sale			315				-
Loans			911,216				918,171
Allowance for credit losses			(10,431	)			(9,904	)
Loans, net			900,785				908,267
Premises and equipment, net			17,860				17,928
Accrued interest receivable			3,976				4,039
Other real estate owned			65				-
Core deposit intangible, net			11,596				13,551
Bank owned life insurance			28,715				28,233
Net deferred tax asset			4,143				4,136
Other assets			6,652				6,233
Total Assets		$	1,275,233			$	1,261,457
Liabilities and Stockholders' Equity
Liabilities
Deposits:
Noninterest-bearing deposits		$	142,010			$	221,306
Interest-bearing deposits			981,310				889,468
Total deposits			1,123,320				1,110,774
Repurchase agreements			1,446				1,589
Federal Home Loan Bank advances			4,500				5,500
Senior secured debt, net			7,374				-
Subordinated debt, net			-				9,892
Accrued interest payable			1,426				1,969
Other liabilities			10,486				13,334
Total Liabilities			1,148,552				1,143,058
Commitments and Contingencies
Redeemable Common Stock Held By Employee Stock Ownership Plan			7,085				4,600
Stockholders' Equity
Common stock, par value $1.00 per share; authorized 5,000,000 shares; issued 3,706,725 shares; outstanding 3,405,061 shares as of September 30, 2026 and December 31, 2025, respectively.			3,707				3,707
Capital surplus			40,595				40,595
Retained earnings			95,981				82,972
Accumulated other comprehensive loss			(5,871	)			(1,144	)
Treasury stock, at cost: 2026: 301,664 shares; 2025: 301,664 shares			(7,731	)			(7,731	)
Total Stockholders' Equity			126,681				118,399
Less maximum cash obligation to ESOP shares			7,085				4,600
Total Stockholders’ Equity Less Maximum Cash Obligations Related to ESOP Shares			119,596				113,799
Total Liabilities and Stockholders' Equity		$	1,275,233			$	1,261,457

* Derived from consolidated audited financial statements

Steele Bancorp, Inc. and Subsidiary 

Consolidated Statements of Income

(Unaudited)

($ in thousands, except per share data)

		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Interest and Dividend Income
Interest and fees on loans		$	15,864			$	12,232			$	45,532			$	25,372
Interest-bearing deposits in banks and time deposits			319				316				1,039				553
Federal funds sold			87				45				205				55
Securities:
Taxable			1,482				1,224				4,259				2,244
Tax-exempt			587				501				1,771				1,089
Dividends			109				101				367				215
Total Interest and Dividend Income			18,448				14,419				53,173				29,528
Interest Expense
Deposits			4,664				4,222				14,197				8,781
Federal Home Loan Bank advances			42				258				130				1,078
Subordinated debt			-				75				225				76
Senior secured debt			116				-				121				-
Total Interest Expense			4,822				4,555				14,673				9,935
Net Interest Income			13,626				9,864				38,500				19,593
Provision for credit losses - loans			625				4,228				703				4,490
Provision for (recovery of) credit losses - off balance sheet credit exposures			8				-				(85	)			(100	)
Provision for credit losses			633				4,228				618				4,390
Net Interest Income after provision for (recovery of) credit losses			12,993				5,636				37,882				15,203
Noninterest Income
Service charges on deposit accounts			326				225				875				486
ATM fees and debit card income			467				368				1,395				738
Mortgage banking revenue			206				134				582				243
Trust income			386				124				1,122				124
Investment fee income			81				5				249				83
(Loss) gain on disposal of premises			(20	)			-				(27	)			52
Loss on sale of securities			-				(8	)			-				(8	)
Net marketable equity security gains			6				60				215				57
Earnings on bank owned life insurance			164				130				482				256
Bargain purchase gain			-				17,827				-				17,827
Other			103				167				273				287
Total Noninterest Income			1,719				19,032				5,166				20,145
Noninterest Expense
Salaries and employee benefits			4,437				4,310				13,345				7,997
Net occupancy and equipment expense			586				442				1,833				1,040
Amortization of core deposit intangible			622				444				1,955				444
Other real estate owned expense (income), net			32				(24	)			(2	)			(14	)
Data processing fees			662				252				1,571				598
Pennsylvania shares tax			237				108				714				332
Professional fees			100				112				441				191
Advertising expense			148				67				274				141
FDIC deposit insurance			150				127				469				263
Merger-related expenses			-				3,873				-				4,120
ATM expense			218				187				730				337
Other			930				988				2,770				1,664
Total Noninterest Expense			8,122				10,886				24,100				17,113
Income Before Income Taxes			6,590				13,782				18,948				18,235
Income Taxes			1,128				105				3,351				932
Net Income		$	5,462			$	13,677			$	15,597			$	17,303
Earnings Per Share - Basic and Diluted		$	1.60			$	4.77			$	4.58			$	7.87

Steele Bancorp, Inc.

Key Ratios and Other Data

(Unaudited)

			At or For the Three Months Ended:
($ in thousands, except per share data)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Operating Highlights:
Net income		$	5,462			$	5,257			$	4,878			$	5,585			$	13,677
Provision for (recovery of) credit losses			633				119				(134	)			801				4,228
Bargain purchase gain			-				-				-				477				17,827
Noninterest income			1,719				1,889				1,567				2,476				19,032
Noninterest expense			8,122				7,986				7,992				8,516				10,886
Balance Sheet Highlights:
Total assets		$	1,275,233			$	1,273,748			$	1,268,765			$	1,261,457			$	1,253,576
Loans, net			900,785				914,039				907,144				908,267				891,098
Core deposit intangible, net			11,596				12,218				12,885				13,551				14,218
Total deposits
Noninterest-bearing			142,010				222,855				224,642				221,306				214,926
Savings			171,805				172,578				164,834				164,133				164,047
NOW			357,376				262,466				260,341				268,818				265,547
Money Market			109,736				115,163				113,566				107,050				108,157
Time Deposits			342,393				347,634				351,818				349,467				353,253
Total interest-bearing deposits			981,310				897,841				890,559				889,468				891,004
Core deposits (1)			780,927				773,062				763,383				761,307				752,677
Net Interest Margin (GAAP & Non-GAAP)
Net interest income (GAAP)		$	13,626			$	12,655			$	12,210			$	12,254			$	9,864
Tax equivalent adjustment			204				215				218				231				180
Net interest income (fully taxable equivalent) (Non-GAAP)			13,830				12,870				12,428				12,485				10,044
Annualized fully tax-equivalent net interest margin (Non-GAAP)			4.53	%			4.38	%			4.21	%			4.32	%			3.97	%
Annualized net interest margin (GAAP)			4.46	%			4.31	%			4.14	%			4.24	%			3.90	%
Selected Ratios:
Annualized return on average assets			1.69	%			1.65	%			1.56	%			1.77	%			5.19	%
Annualized return on average equity			17.15	%			16.92	%			16.31	%			18.60	%			56.35	%
Capital Ratios - Central Penn Bank & Trust:
Leverage ratio (2)			9.55	%			9.01	%			8.94	%			8.56	%			9.93	%
Share and Per Share Data:
Earnings per share		$	1.60			$	1.54			$	1.43			$	1.64			$	4.77
Dividend declared per share			-				0.76				-				0.75				-
Book Value per share			37.20				36.54				35.87				34.77				33.74
Common stock price:
Last trade			46.71				43.34				35.00				28.55				25.83
Weighted average common shares			3,405,061				3,405,061				3,405,061				3,405,061				2,867,124
Allowance for Loan Credit Losses on Loans:
Beginning balance		$	9,934			$	9,755			$	9,904			$	9,512			$	4,636
Merger adjustments			-				-				-				-				725
Provision for (recovery of) credit losses			625				212				(134	)			361				4,228
Charge-Offs			(134	)			(35	)			(19	)			-				(81	)
Recoveries			6				2				4				31				4
Ending balance		$	10,431			$	9,934			$	9,755			$	9,904			$	9,512

(1) Core deposits are defined as total deposits less time deposits

(2) Leverage ratio for the most recent period is estimated

Steele Bancorp, Inc.

Asset Quality Data

(Unaudited)

		At or for the Three Months Ended
($ in thousands)		September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Nonperforming Assets:
Nonaccrual loans		$	7,217			$	7,369			$	7,307			$	6,304			$	1,591
Other real estate owned			65				-				147				-				-
Total nonperforming assets		$	7,282			$	7,369			$	7,454			$	6,304			$	1,591
Loans 90 days or more past due and accruing			-				-				-				-				-
Asset Quality Ratios:
Nonperforming assets to loans plus other real estate owned			0.80	%			0.80	%			0.81	%			0.69	%			0.18	%
Allowance for credit losses on loans to total loans			1.14	%			1.08	%			1.06	%			1.08	%			1.06	%
Allowance for credit losses on loans to nonperforming assets			143.24	%			134.82	%			130.87	%			157.12	%			597.86	%

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