CBB Bancorp, Inc. ("CBB" or the "Company') (OTCQX: CBBI), the holding company of Commonwealth Business Bank, doing business as “CBB Bank” (the "Bank"), announced today net income of $4.4 million for the second quarter 2025, or $0.41 per diluted share compared to $4.5 million in the first quarter 2025, or $0.42 per diluted share.
Second Quarter 2025 Highlights
- Net income of $4.4 million, or $0.41 per diluted share
- Net interest margin expanded to 3.46%, up from 3.38% in Q1
- Efficiency ratio improved to 59.99%
- SBA loan sales of $17.6 million with 8.1% average premium
- Deposit growth of $47.7 million (3.2% quarter-over-quarter)
Net income for the second quarter 2025 declined slightly compared to the prior quarter, as increased net interest income was offset by a modest rise in noninterest expenses and a decline in noninterest income.
The net interest margin for the second quarter 2025 was 3.46% compared to 3.38% for the first quarter 2025 and 3.77% for the second quarter 2024. The efficiency ratio for the second quarter 2025 was 59.99% compared to 60.41% for the first quarter 2025 and 55.69% for the second quarter 2024.
Richard Koh, President and CEO, said, "Amid ongoing developments around tariffs, trade restrictions, and heightened volatility in capital markets, the near-term outlook remains increasingly uncertain. As a relationship-driven bank, we are well-equipped to navigate these challenges. We remain committed to executing our long-term strategies and delivering exceptional service to our customers."
INCOME STATEMENT
Net Interest Income
Net interest income for the second quarter 2025 was $15.0 million, an increase of $224 thousand or 1.5%, quarter over quarter and a decrease of $317 thousand or 2.1%, compared to the second quarter 2024 due to moderate decrease in average yield on loans.
Net Interest Margin
The net interest margin for the second quarter 2025 was 3.46% compared to 3.38% for the first quarter 2025 and 3.77% for the second quarter 2024. Net interest margin improved by 8 basis points compared to the prior quarter, mainly driven by a 3 basis point increase in the yield on interest-earning assets and a 11 basis point reduction in the cost of deposits. The cost of funds for the second quarter 2025 was 3.29% compared to 3.34% for the first quarter 2025 and 3.52% for the second quarter 2024.
Provision for Credit Losses
Total provision for credit losses of $590 thousand was recorded for the second quarter 2025 compared to $500 thousand in the first quarter 2025.
Provision for credit loss of $200 thousand was recorded for the second quarter 2024.
Noninterest Income
Noninterest income for the second quarter of 2025 was $2.1 million, unchanged from the first quarter of 2025, and $253 thousand lower than the $2.3 million reported in the second quarter of 2024. A loss of $67 thousand was recognized on the sale of other real estate owned (OREO) during the quarter.
Noninterest Expenses
Noninterest expenses totaled $10.3 million for the second quarter of 2025, compared to $10.2 million in the prior quarter and $9.9 million in the second quarter of 2024. The $43 thousand quarter-over-quarter increase was primarily driven by higher marketing and professional fees, partially offset by decreases in insurance and loan-related expenses.
Please refer to the financial tables in this press release for additional information and trends.
Income Taxes
The Company’s effective tax rate for the second quarter 2025 was 29.8% compared to 28.3% for the first quarter 2025 and 28.3% for the second quarter 2024.
BALANCE SHEET
Investment Securities
Investment securities were $65.5 million at June 30, 2025, an increase of $4.0 million or 6.5% from March 31, 2025, and a decrease of $7.5 million or 10.3% from June 30, 2024.
Loans Receivable
Loans receivable, including loans held-for-sale, totaled $1.46 billion as of June 30, 2025, representing an increase of $11.5 million, or 0.8%, from March 31, 2025, and $24.5 million, or 1.7%, from June 30, 2024. The growth was primarily driven by increases in commercial real estate (CRE) loans.
Allowance for Credit Losses and Asset Quality
The Allowance for Credit Losses (“ACL”) was $15.5 million as of June 30, 2025, representing 1.21% of loans held-for-investment, compared to $14.9 million, or 1.18%, at March 31, 2025. At June 30, 2024, the ACL totaled $16.0 million, or 1.31% of loans held-for-investment.
Total nonperforming assets increased to $16.7 million at June 30, 2025, from $11.7 million at March 31, 2025, and $5.8 million a year earlier. ACL coverage of nonperforming assets was over 92% at quarter-end.
Substandard loans increased to $30.4 million as of June 30, 2025, up from $20.8 million in the prior quarter. Delinquent loans declined slightly to $25.2 million, compared to $27.6 million at March 31, 2025.
SBA Loans Held-for-Sale
As of June 30, 2025, total SBA loans held-for-sale were $184.0 million, compared to $194.5 million at March 31, 2025, and $209.1 million at June 30, 2024.
During the second quarter of 2025, the Bank sold $17.6 million in SBA loans at an average premium of 8.1%, compared to $19.8 million sold in the first quarter of 2025, also at an average premium of 8.1%. In the second quarter of 2024, the Bank sold $19.5 million in SBA loans with an average premium of 6.8%.
Deposits
Total deposits were $1.52 billion at June 30, 2025, up $47.7 million or 3.2% from March 31, 2025, and up $184.5 million or 13.8% from June 30, 2024.
Borrowings
As of June 30, 2025, the Bank had no outstanding borrowings, compared to $50.0 million in FHLB advances as of March 31, 2025.
Capital
Stockholders’ equity was $262.0 million at June 30, 2025, which increased $3.5 million or 1.3%, quarter over quarter. Tangible book value per share at June 30, 2025, was $24.51, an increase of $0.33, or 1.4%, quarter over quarter.
The following are the Company’s and the Bank’s regulatory capital ratios at June 30, 2025.
The Common Equity Tier 1 Risk-Based Capital Ratios at June 30, 2025, were 18.98% and 18.94% for the Company and the Bank, respectively. Total Risk-Based Capital Ratios were 20.13% and 20.09% for the Company and the Bank, respectively. Leverage Ratios were 14.48% for the Company and 14.45% for the Bank. The Bank is considered “Well Capitalized” under the applicable regulatory capital rules.
About CBB Bancorp, Inc.:
CBB Bancorp, Inc. is the holding company of Commonwealth Business Bank, a full-service commercial bank which specializes in loans to small-to-medium-sized businesses and does business as “CBB Bank.” As of June 30, 2025, the Bank had twelve full-service banking offices in Los Angeles and Orange Counties in California, Dallas County in Texas, Honolulu, Hawaii, and Fort Lee, New Jersey. Three SBA regional offices in Los Angeles, Dallas, and Bergen Counties, and loan production offices in Georgia, Washington, and New York. For additional information, please go to www.cbb-bank.com under the tab “About Us” and select “Investor Relations” to see the 2Q 2025 Overview.
FORWARD-LOOKING STATEMENTS:
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. CBB Bancorp, Inc. (the “Company”) intends that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described herein are necessarily subject to risks and uncertainties that may cause actual results to differ materially and adversely from those described herein. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause actual results to differ materially from those presented, either expressed or implied, in this news release include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.
The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances, except to the extent required by law.
| STATEMENT OF INCOME AND PERFORMANCE HIGHLIGHT (Unaudited) - Table 1 | |||||||||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
| June 30, | March 31, | $ | % | June 30, | $ | % | June 30, | June 30, | $ | % | |||||||||||||||||||||||||||
|
2025 |
|
2025 |
|
Change |
Change |
|
2024 |
|
Change |
Change |
|
2025 |
|
2024 |
|
Change |
Change |
|||||||||||||||||||
| Interest income | $ |
27,392 |
|
$ |
27,467 |
|
$ |
(75 |
) |
(0.3 |
%) |
$ |
27,755 |
|
$ |
(363 |
) |
(1.3 |
%) |
$ |
54,859 |
|
$ |
56,218 |
|
$ |
(1,359 |
) |
(2.4 |
%) |
|||||||
| Interest expense |
|
12,345 |
|
|
12,644 |
|
|
(299 |
) |
(2.4 |
%) |
|
12,391 |
|
|
(46 |
) |
(0.4 |
%) |
|
24,989 |
|
|
25,046 |
|
|
(57 |
) |
(0.2 |
%) |
|||||||
| Net interest income |
|
15,047 |
|
|
14,823 |
|
|
224 |
|
1.5 |
% |
|
15,364 |
|
|
(317 |
) |
(2.1 |
%) |
|
29,870 |
|
|
31,172 |
|
|
(1,302 |
) |
(4.2 |
%) |
|||||||
| Provision for credit losses |
|
590 |
|
|
500 |
|
|
90 |
|
18.0 |
% |
|
200 |
|
|
390 |
|
195.0 |
% |
|
1,090 |
|
|
600 |
|
|
490 |
|
81.7 |
% |
|||||||
| Net interest income after provision for credit losses |
|
14,457 |
|
|
14,323 |
|
|
134 |
|
0.9 |
% |
|
15,164 |
|
|
(707 |
) |
(4.7 |
%) |
|
28,780 |
|
|
30,572 |
|
|
(1,792 |
) |
(5.9 |
%) |
|||||||
| Gain on sale of loans |
|
900 |
|
|
1,021 |
|
|
(121 |
) |
-11.9 |
% |
|
1,064 |
|
|
(164 |
) |
748.8 |
% |
|
1,921 |
|
|
2,553 |
|
|
(632 |
) |
(24.8 |
%) |
|||||||
| Loss on sale of OREO |
|
(67 |
) |
|
(92 |
) |
|
25 |
|
(27.2 |
%) |
|
- |
|
|
(67 |
) |
(100.0 |
%) |
|
(159 |
) |
|
(1 |
) |
|
(158 |
) |
158.00 |
|
|||||||
| SBA servicing fee income, net |
|
799 |
|
|
691 |
|
|
108 |
|
15.6 |
% |
|
768 |
|
|
31 |
|
4.0 |
% |
|
1,490 |
|
|
1,401 |
|
|
89 |
|
6.4 |
% |
|||||||
| Recovery on impaired servicing liability |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
- |
|
|
10 |
|
|
(10 |
) |
(100.0 |
%) |
|||||||
| Service charges and other income |
|
450 |
|
|
496 |
|
|
(46 |
) |
(9.3 |
%) |
|
503 |
|
|
(53 |
) |
(10.5 |
%) |
|
946 |
|
|
933 |
|
|
13 |
|
1.4 |
% |
|||||||
| Noninterest income |
|
2,082 |
|
|
2,116 |
|
|
(34 |
) |
(1.6 |
%) |
|
2,335 |
|
|
(253 |
) |
(10.8 |
%) |
|
4,198 |
|
|
4,896 |
|
|
(698 |
) |
(14.3 |
%) |
|||||||
| Salaries and employee benefits |
|
5,779 |
|
|
5,848 |
|
|
(69 |
) |
(1.2 |
%) |
|
5,927 |
|
|
(148 |
) |
(2.5 |
%) |
|
11,627 |
|
|
11,951 |
|
|
(324 |
) |
(2.7 |
%) |
|||||||
| Occupancy and equipment |
|
1,293 |
|
|
1,314 |
|
|
(21 |
) |
(1.6 |
%) |
|
1,114 |
|
|
179 |
|
16.1 |
% |
|
2,607 |
|
|
2,236 |
|
|
371 |
|
16.6 |
% |
|||||||
| Marketing expense |
|
404 |
|
|
215 |
|
|
189 |
|
87.9 |
% |
|
403 |
|
|
1 |
|
0.2 |
% |
|
619 |
|
|
805 |
|
|
(186 |
) |
(23.1 |
%) |
|||||||
| Professional expense |
|
619 |
|
|
430 |
|
|
189 |
|
44.0 |
% |
|
440 |
|
|
179 |
|
40.7 |
% |
|
1,049 |
|
|
852 |
|
|
197 |
|
23.1 |
% |
|||||||
| Other expenses |
|
2,181 |
|
|
2,426 |
|
|
(245 |
) |
(10.1 |
%) |
|
1,972 |
|
|
209 |
|
10.6 |
% |
|
4,607 |
|
|
4,056 |
|
|
551 |
|
13.6 |
% |
|||||||
| Noninterest expense |
|
10,276 |
|
|
10,233 |
|
|
43 |
|
0.4 |
% |
|
9,856 |
|
|
420 |
|
4.3 |
% |
|
20,509 |
|
|
19,900 |
|
|
609 |
|
3.1 |
% |
|||||||
| Income before income tax provision |
|
6,263 |
|
|
6,206 |
|
|
57 |
|
0.9 |
% |
|
7,643 |
|
|
(1,380 |
) |
(18.1 |
%) |
|
12,469 |
|
|
15,568 |
|
|
(3,099 |
) |
(19.9 |
%) |
|||||||
| Income tax provision |
|
1,868 |
|
|
1,753 |
|
|
115 |
|
6.6 |
% |
|
2,163 |
|
|
(295 |
) |
(13.6 |
%) |
|
3,621 |
|
|
4,416 |
|
|
(795 |
) |
(18.0 |
%) |
|||||||
| Net income | $ |
4,395 |
|
$ |
4,453 |
|
$ |
(58 |
) |
(1.3 |
%) |
$ |
5,480 |
|
$ |
(1,085 |
) |
(19.8 |
%) |
$ |
8,848 |
|
$ |
11,152 |
|
$ |
(2,304 |
) |
(20.7 |
%) |
|||||||
| Effective tax rate |
|
29.83 |
% |
|
28.25 |
% |
|
1.58 |
% |
5.59 |
% |
|
28.30 |
% |
|
1.53 |
% |
5.39 |
% |
|
29.04 |
% |
|
28.37 |
% |
|
0.67 |
% |
2.38 |
% |
|||||||
| Outstanding number of shares |
|
10,588,136 |
|
|
10,588,136 |
|
|
- |
|
- |
|
|
10,588,136 |
|
|
- |
|
- |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
- |
|
- |
|
|||||||
| Weighted average shares for basic EPS |
|
10,588,136 |
|
|
10,588,136 |
|
|
- |
|
- |
|
|
10,588,136 |
|
|
- |
|
- |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
- |
|
- |
|
|||||||
| Weighted average shares for diluted EPS |
|
10,593,497 |
|
|
10,605,812 |
|
|
(12,315 |
) |
(0.1 |
%) |
|
10,588,136 |
|
|
5,361 |
|
0.1 |
% |
|
10,599,146 |
|
|
10,558,688 |
|
|
40,458 |
|
0.4 |
% |
|||||||
| Basic EPS | $ |
0.42 |
|
$ |
0.42 |
|
$ |
- |
|
- |
|
$ |
0.51 |
|
$ |
(0.09 |
) |
(17.6 |
%) |
$ |
0.84 |
|
$ |
1.05 |
|
$ |
(0.21 |
) |
-20.0 |
% |
|||||||
| Diluted EPS | $ |
0.41 |
|
$ |
0.42 |
|
$ |
(0.01 |
) |
(2.4 |
%) |
$ |
0.51 |
|
$ |
(0.10 |
) |
(19.6 |
%) |
$ |
0.83 |
|
$ |
1.05 |
|
$ |
(0.22 |
) |
(21.0 |
%) |
|||||||
| Return on average assets |
|
0.98 |
% |
|
0.99 |
% |
|
(0.01 |
%) |
(1.0 |
%) |
|
1.31 |
% |
|
(0.33 |
%) |
(25.2 |
%) |
|
0.99 |
% |
|
1.32 |
% |
|
(0.33 |
%) |
(25.0 |
%) |
|||||||
| Return on average equity |
|
6.76 |
% |
|
7.01 |
% |
|
(0.25 |
%) |
(3.6 |
%) |
|
9.06 |
% |
|
(2.30 |
%) |
(25.4 |
%) |
|
6.89 |
% |
|
9.31 |
% |
|
(2.42 |
%) |
(26.0 |
%) |
|||||||
| Efficiency ratio¹ |
|
59.99 |
% |
|
60.41 |
% |
|
(0.42 |
%) |
(0.7 |
%) |
|
55.69 |
% |
|
4.30 |
% |
7.7 |
% |
|
60.20 |
% |
|
55.17 |
% |
|
5.03 |
% |
9.1 |
% |
|||||||
| Yield on interest-earning assets² |
|
6.28 |
% |
|
6.25 |
% |
|
0.03 |
% |
0.5 |
% |
|
6.79 |
% |
|
(0.51 |
%) |
(7.5 |
%) |
|
6.26 |
% |
|
6.78 |
% |
|
(0.52 |
%) |
(7.7 |
%) |
|||||||
| Cost of funds |
|
3.29 |
% |
|
3.34 |
% |
|
(0.05 |
%) |
(1.5 |
%) |
|
3.52 |
% |
|
(0.23 |
%) |
(6.5 |
%) |
|
3.31 |
% |
|
3.50 |
% |
|
(0.19 |
%) |
(5.4 |
%) |
|||||||
| Net interest margin² |
|
3.46 |
% |
|
3.38 |
% |
|
0.08 |
% |
2.4 |
% |
|
3.77 |
% |
|
(0.31 |
%) |
(8.2 |
%) |
|
3.42 |
% |
|
3.77 |
% |
|
(0.35 |
%) |
(9.3 |
%) |
|||||||
1 |
Represents the ratio of noninterest expense less other real estate owned operations to the sum of net interest income before provision for credit losses and total noninterest income. |
|
2 |
Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate |
| BALANCE SHEET, CAPITAL AND OTHER DATA (Unaudited) - Table 2 | |||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||
| June 30, | March 31, | $ | % | June 30, | $ | % | |||||||||||||||||
2025 |
2025 |
Change |
Change |
2024 |
Change |
Change |
|||||||||||||||||
| ASSETS | |||||||||||||||||||||||
| Cash and due from banks | $ |
11,873 |
|
$ |
12,716 |
|
$ |
(843 |
) |
(6.6 |
%) |
$ |
11,667 |
|
$ |
206 |
|
1.8 |
% |
||||
| Interest-earning deposits at the FRB and other banks |
|
235,436 |
|
|
249,535 |
|
|
(14,099 |
) |
(5.7 |
%) |
|
101,415 |
|
|
134,021 |
|
132.2 |
% |
||||
| Investment securities¹ |
|
65,518 |
|
|
61,521 |
|
|
3,997 |
|
6.5 |
% |
|
73,051 |
|
|
(7,533 |
) |
(10.3 |
%) |
||||
| Loans held-for-sale |
|
183,996 |
|
|
194,542 |
|
|
(10,546 |
) |
(5.4 |
%) |
|
209,144 |
|
|
(25,148 |
) |
(12.0 |
%) |
||||
| Loans held-for-investment |
|
1,278,106 |
|
|
1,256,063 |
|
|
22,043 |
|
1.8 |
% |
|
1,228,496 |
|
|
49,610 |
|
4.0 |
% |
||||
| Less: Allowance for credit losses ("ACL") |
|
(15,461 |
) |
|
(14,850 |
) |
|
(611 |
) |
(4.1 |
%) |
|
(16,042 |
) |
|
581 |
|
3.6 |
% |
||||
| Loans held-for-investment, net |
|
1,262,645 |
|
|
1,241,213 |
|
|
21,432 |
|
1.7 |
% |
|
1,212,454 |
|
|
50,191 |
|
4.1 |
% |
||||
| Other real estate owned ("OREO") |
|
2,999 |
|
|
3,130 |
|
|
(131 |
) |
-4.2 |
% |
|
- |
|
|
2,999 |
|
100.0 |
% |
||||
| Restricted stock investments |
|
11,011 |
|
|
11,011 |
|
|
- |
|
- |
|
|
11,011 |
|
|
- |
|
- |
|
||||
| Servicing assets |
|
6,609 |
|
|
6,708 |
|
|
(99 |
) |
(1.5 |
%) |
|
7,404 |
|
|
(795 |
) |
(10.7 |
%) |
||||
| Goodwill |
|
2,185 |
|
|
2,185 |
|
|
- |
|
- |
|
|
2,185 |
|
|
- |
|
- |
|
||||
| Intangible assets |
|
195 |
|
|
205 |
|
|
(10 |
) |
(4.9 |
%) |
|
235 |
|
|
(40 |
) |
(17.0 |
%) |
||||
| Other assets |
|
32,359 |
|
|
31,304 |
|
|
1,055 |
|
3.4 |
% |
|
26,343 |
|
|
6,016 |
|
22.8 |
% |
||||
| Total assets | $ |
1,814,826 |
|
$ |
1,814,070 |
|
$ |
756 |
|
0.0 |
% |
$ |
1,654,909 |
|
$ |
159,917 |
|
9.7 |
% |
||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||||||||||||
| Noninterest-bearing | $ |
309,160 |
|
$ |
295,857 |
|
$ |
13,303 |
|
4.5 |
% |
$ |
281,243 |
|
$ |
27,917 |
|
9.9 |
% |
||||
| Interest-bearing |
|
1,215,760 |
|
|
1,181,362 |
|
|
34,398 |
|
2.9 |
% |
|
1,059,146 |
|
|
156,614 |
|
14.8 |
% |
||||
| Total deposits |
|
1,524,920 |
|
|
1,477,219 |
|
|
47,701 |
|
3.2 |
% |
|
1,340,389 |
|
|
184,531 |
|
13.8 |
% |
||||
| FHLB advances and other borrowing |
|
- |
|
|
50,000 |
|
|
(50,000 |
) |
-100.0 |
% |
|
50,000 |
|
|
(50,000 |
) |
- |
|
||||
| Other liabilities |
|
27,972 |
|
|
28,397 |
|
|
(425 |
) |
(1.5 |
%) |
|
19,260 |
|
|
8,712 |
|
45.2 |
% |
||||
| Total liabilities |
|
1,552,892 |
|
|
1,555,616 |
|
|
(2,724 |
) |
(0.2 |
%) |
|
1,409,649 |
|
|
143,243 |
|
10.2 |
% |
||||
| Stockholders' Equity |
|
261,934 |
|
|
258,454 |
|
|
3,480 |
|
1.3 |
% |
|
245,260 |
|
|
16,674 |
|
6.8 |
% |
||||
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ |
1,814,826 |
|
$ |
1,814,070 |
|
$ |
756 |
|
0.0 |
% |
$ |
1,654,909 |
|
$ |
159,917 |
|
9.7 |
% |
||||
| CAPITAL RATIOS | |||||||||||||||||||||||
| Leverage ratio | |||||||||||||||||||||||
| Company |
|
14.48 |
% |
|
14.04 |
% |
|
0.44 |
% |
3.1 |
% |
|
14.51 |
% |
|
(0.03 |
%) |
(0.2 |
%) |
||||
| Bank |
|
14.45 |
% |
|
14.00 |
% |
|
0.44 |
% |
3.2 |
% |
|
14.45 |
% |
|
(0.00 |
%) |
(0.0 |
%) |
||||
| Common equity tier 1 risk-based capital ratio | |||||||||||||||||||||||
| Company |
|
18.98 |
% |
|
19.10 |
% |
|
(0.12 |
%) |
(0.6 |
%) |
|
18.36 |
% |
|
0.62 |
% |
3.4 |
% |
||||
| Bank |
|
18.94 |
% |
|
19.05 |
% |
|
- |
|
- |
|
|
18.28 |
% |
|
0.66 |
% |
3.6 |
% |
||||
| Tier 1 risk-based capital ratio | |||||||||||||||||||||||
| Company |
|
18.98 |
% |
|
19.10 |
% |
|
(0.12 |
%) |
(0.6 |
%) |
|
18.36 |
% |
|
0.62 |
% |
3.4 |
% |
||||
| Bank |
|
18.94 |
% |
|
19.05 |
% |
|
- |
|
- |
|
|
18.28 |
% |
|
0.66 |
% |
3.6 |
% |
||||
| Total risk-based capital ratio | |||||||||||||||||||||||
| Company |
|
20.13 |
% |
|
20.23 |
% |
|
(0.10 |
%) |
(0.5 |
%) |
|
19.59 |
% |
|
0.54 |
% |
2.8 |
% |
||||
| Bank |
|
20.09 |
% |
|
20.18 |
% |
|
(0.09 |
%) |
(0.4 |
%) |
|
19.50 |
% |
|
0.58 |
% |
3.0 |
% |
||||
| Tangible book value per share | $ |
24.51 |
|
$ |
24.18 |
|
$ |
0.33 |
|
1.4 |
% |
$ |
22.94 |
|
$ |
1.57 |
|
6.8 |
% |
||||
| Loans Held for Investments-to-Deposit ("LHFITD") ratio |
|
83.81 |
% |
|
85.03 |
% |
|
(1.22 |
%) |
(1.4 |
%) |
|
91.65 |
% |
|
(7.84 |
%) |
(8.6 |
%) |
||||
| Net Loan-to-Deposit ("LTD") ratio |
|
94.87 |
% |
|
97.19 |
% |
|
(2.32 |
%) |
(2.4 |
%) |
|
106.06 |
% |
|
(11.19 |
%) |
(10.6 |
%) |
||||
| Nonperforming assets | $ |
16,699 |
|
$ |
11,675 |
|
$ |
5,024 |
|
43.0 |
% |
$ |
5,797 |
|
$ |
10,902 |
|
188.1 |
% |
||||
| Nonperforming assets as a % of loans held-for-investment |
|
1.31 |
% |
|
0.93 |
% |
|
0.38 |
% |
40.9 |
% |
|
0.47 |
% |
|
0.84 |
% |
178.7 |
% |
||||
| ACL as a % of loans held-for-investment |
|
1.21 |
% |
|
1.18 |
% |
|
0.03 |
% |
2.54 |
% |
|
1.31 |
% |
|
(0.10 |
%) |
(7.6 |
%) |
||||
1 |
Includes AFS and HTM |
FIVE-QUARTER STATEMENT OF INCOME (Unaudited) - Table 3 |
|||||||||||||||||||
(Dollars in thousands, except per share amounts) |
|||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2025 |
|
2025 |
|
2024 |
|
2024 |
|
2024 |
|||||||||||
| Interest income | $ |
27,392 |
|
$ |
27,467 |
|
$ |
28,769 |
|
$ |
28,380 |
|
$ |
27,755 |
|
||||
| Interest expense |
|
12,345 |
|
|
12,644 |
|
|
13,121 |
|
|
12,904 |
|
|
12,391 |
|
||||
| Net interest income |
|
15,047 |
|
|
14,823 |
|
|
15,648 |
|
|
15,476 |
|
|
15,364 |
|
||||
| Provision for credit losses |
|
590 |
|
|
500 |
|
|
- |
|
|
(100 |
) |
|
200 |
|
||||
| Net interest income after provision for credit losses |
|
14,457 |
|
|
14,323 |
|
|
15,648 |
|
|
15,576 |
|
|
15,164 |
|
||||
| Gain on sale of loans |
|
900 |
|
|
1,021 |
|
|
1,013 |
|
|
991 |
|
|
1,064 |
|
||||
| Gain (loss) on sale of OREO |
|
(67 |
) |
|
(92 |
) |
|
- |
|
|
- |
|
|
- |
|
||||
| SBA servicing fee income, net |
|
799 |
|
|
691 |
|
|
654 |
|
|
760 |
|
|
768 |
|
||||
| Recovery on impaired servicing liability |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Service charges and other income |
|
450 |
|
|
496 |
|
|
543 |
|
|
465 |
|
|
503 |
|
||||
| Noninterest income |
|
2,082 |
|
|
2,116 |
|
|
2,210 |
|
|
2,216 |
|
|
2,335 |
|
||||
| Salaries and employee benefits |
|
5,779 |
|
|
5,848 |
|
|
5,635 |
|
|
5,884 |
|
|
5,927 |
|
||||
| Occupancy and equipment |
|
1,293 |
|
|
1,314 |
|
|
1,280 |
|
|
1,149 |
|
|
1,114 |
|
||||
| Marketing expense |
|
404 |
|
|
215 |
|
|
285 |
|
|
423 |
|
|
403 |
|
||||
| Professional expense |
|
619 |
|
|
430 |
|
|
329 |
|
|
456 |
|
|
440 |
|
||||
| Other expenses |
|
2,181 |
|
|
2,426 |
|
|
2,411 |
|
|
2,104 |
|
|
1,972 |
|
||||
| Noninterest expense |
|
10,276 |
|
|
10,233 |
|
|
9,940 |
|
|
10,016 |
|
|
9,856 |
|
||||
| Income before income tax expense |
|
6,263 |
|
|
6,206 |
|
|
7,918 |
|
|
7,776 |
|
|
7,643 |
|
||||
| Income tax expense |
|
1,868 |
|
|
1,753 |
|
|
2,211 |
|
|
2,207 |
|
|
2,163 |
|
||||
| Net income | $ |
4,395 |
|
$ |
4,453 |
|
$ |
5,707 |
|
$ |
5,569 |
|
$ |
5,480 |
|
||||
| Effective tax rate |
|
29.8 |
% |
|
28.3 |
% |
|
27.9 |
% |
|
28.4 |
% |
|
28.3 |
% |
||||
| Outstanding number of shares |
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
||||
| Weighted average shares for basic EPS |
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
|
10,588,136 |
|
||||
| Weighted average shares for diluted EPS |
|
10,593,497 |
|
|
10,605,812 |
|
|
10,598,476 |
|
|
10,596,039 |
|
|
10,588,136 |
|
||||
| Basic EPS | $ |
0.42 |
|
$ |
0.42 |
|
$ |
0.54 |
|
$ |
0.53 |
|
$ |
0.51 |
|
||||
| Diluted EPS | $ |
0.41 |
|
$ |
0.42 |
|
$ |
0.54 |
|
$ |
0.53 |
|
$ |
0.51 |
|
||||
| FIVE-QUARTER SALARIES BENEFIT METRICS (Unaudited) - Table 4 | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| At or for the Three Months Ended | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
2025 |
2025 |
2024 |
2024 |
2024 |
||||||||||||||||
| Salaries and benefits | $ |
5,779 |
|
$ |
5,848 |
|
$ |
5,635 |
|
$ |
5,884 |
|
$ |
5,927 |
|
|||||
| FTE at the end of period |
|
163 |
|
|
166 |
|
|
168 |
|
|
178 |
|
|
172 |
|
|||||
| Average FTE during the period |
|
166 |
|
|
169 |
|
|
166 |
|
|
173 |
|
|
171 |
|
|||||
| Salaries and benefits/average FTE¹ | $ |
140 |
|
$ |
141 |
|
$ |
135 |
|
$ |
135 |
|
$ |
139 |
|
|||||
| Salaries and benefits/average assets¹ |
|
1.29 |
% |
|
1.30 |
% |
|
1.25 |
% |
|
1.38 |
% |
|
1.42 |
% |
|||||
| Noninterest expense/average assets¹ |
|
2.30 |
% |
|
2.27 |
% |
|
2.21 |
% |
|
2.35 |
% |
|
2.36 |
% |
|||||
| 1 | Annualized |
| FIVE-QUARTER BALANCE SHEET (Unaudited) - Table 5 | |||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
2025 |
2025 |
2024 |
2024 |
2024 |
|||||||||||||||
| ASSETS | |||||||||||||||||||
| Cash and due from banks | $ |
11,873 |
|
$ |
12,716 |
|
$ |
10,336 |
|
$ |
14,892 |
|
$ |
11,667 |
|
||||
| Interest-earning deposits at the FRB and other banks |
|
235,436 |
|
|
249,535 |
|
|
266,826 |
|
|
241,094 |
|
|
101,415 |
|
||||
| Investment securities |
|
65,518 |
|
|
61,521 |
|
|
62,196 |
|
|
63,208 |
|
|
73,051 |
|
||||
| Loans held-for-sale |
|
183,996 |
|
|
194,542 |
|
|
198,448 |
|
|
198,021 |
|
|
209,144 |
|
||||
| Loans held-for-investment |
|
1,278,106 |
|
|
1,256,063 |
|
|
1,239,564 |
|
|
1,222,865 |
|
|
1,228,496 |
|
||||
| Less: Allowance for credit losses |
|
(15,461 |
) |
|
(14,850 |
) |
|
(15,959 |
) |
|
(15,948 |
) |
|
(16,042 |
) |
||||
| Loans held-for-investment, net |
|
1,262,645 |
|
|
1,241,213 |
|
|
1,223,605 |
|
|
1,206,917 |
|
|
1,212,454 |
|
||||
| Other real estate owned |
|
2,999 |
|
|
3,130 |
|
|
521 |
|
|
521 |
|
|
- |
|
||||
| Restricted stock investments |
|
11,011 |
|
|
11,011 |
|
|
11,011 |
|
|
11,011 |
|
|
11,011 |
|
||||
| Servicing assets |
|
6,609 |
|
|
6,708 |
|
|
6,909 |
|
|
7,192 |
|
|
7,404 |
|
||||
| Goodwill |
|
2,185 |
|
|
2,185 |
|
|
2,185 |
|
|
2,185 |
|
|
2,185 |
|
||||
| Intangible assets |
|
195 |
|
|
205 |
|
|
214 |
|
|
224 |
|
|
235 |
|
||||
| Other assets |
|
32,359 |
|
|
31,304 |
|
|
33,384 |
|
|
25,284 |
|
|
26,343 |
|
||||
| Total assets | $ |
1,814,826 |
|
$ |
1,814,070 |
|
$ |
1,815,635 |
|
$ |
1,770,549 |
|
$ |
1,654,909 |
|
||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||||||||
| Noninterest-bearing | $ |
309,160 |
|
$ |
295,857 |
|
$ |
304,005 |
|
$ |
318,807 |
|
$ |
281,243 |
|
||||
| Interest-bearing |
|
1,215,760 |
|
|
1,181,362 |
|
|
1,176,567 |
|
|
1,128,784 |
|
|
1,059,146 |
|
||||
| Total deposits |
|
1,524,920 |
|
|
1,477,219 |
|
|
1,480,572 |
|
|
1,447,591 |
|
|
1,340,389 |
|
||||
| FHLB advances |
|
- |
|
|
50,000 |
|
|
50,000 |
|
|
50,000 |
|
|
50,000 |
|
||||
| Other liabilities |
|
27,972 |
|
|
28,397 |
|
|
30,096 |
|
|
22,415 |
|
|
19,260 |
|
||||
| Total liabilities |
|
1,552,892 |
|
|
1,555,616 |
|
|
1,560,668 |
|
|
1,520,006 |
|
|
1,409,649 |
|
||||
| Stockholders' Equity |
|
261,934 |
|
|
258,454 |
|
|
254,967 |
|
|
250,543 |
|
|
245,260 |
|
||||
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ |
1,814,826 |
|
$ |
1,814,070 |
|
$ |
1,815,635 |
|
$ |
1,770,549 |
|
$ |
1,654,909 |
|
||||
| FIVE-QUARTER LOANS RECEIVABLE COMPONENTS (Unaudited) - Table 6 | |||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||
| June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | |||||||||||||||||||||||||
| Balance | % | Balance | % | Balance | % | Balance | % | Balance | % | ||||||||||||||||||||
| Construction | $ |
33,952 |
2.7 |
% |
$ |
31,913 |
2.5 |
% |
$ |
27,276 |
2.2 |
% |
$ |
29,789 |
2.4 |
% |
$ |
33,918 |
2.8 |
% |
|||||||||
| Commercial real estate |
|
1,091,180 |
85.4 |
% |
|
1,061,873 |
84.5 |
% |
|
1,048,945 |
84.6 |
% |
|
1,029,768 |
84.2 |
% |
|
1,035,425 |
84.3 |
% |
|||||||||
| Commercial and industrial |
|
108,461 |
8.5 |
% |
|
112,369 |
9.0 |
% |
|
114,435 |
9.2 |
% |
|
112,588 |
9.2 |
% |
|
108,742 |
8.9 |
% |
|||||||||
| Home mortgage |
|
36,673 |
2.9 |
% |
|
41,944 |
3.3 |
% |
|
43,676 |
3.5 |
% |
|
45,673 |
3.7 |
% |
|
44,987 |
3.7 |
% |
|||||||||
| Consumer |
|
3,527 |
0.3 |
% |
|
3,477 |
0.3 |
% |
|
552 |
0.0 |
% |
|
537 |
0.0 |
% |
|
782 |
0.1 |
% |
|||||||||
| Gross loans held-for-investment |
|
1,273,793 |
99.7 |
% |
|
1,251,576 |
99.6 |
% |
|
1,234,884 |
99.6 |
% |
|
1,218,355 |
99.6 |
% |
|
1,223,854 |
99.6 |
% |
|||||||||
| Deferred loan fees/costs, net |
|
4,313 |
0.3 |
% |
|
4,487 |
0.4 |
% |
|
4,680 |
0.4 |
% |
|
4,510 |
0.4 |
% |
|
4,642 |
0.4 |
% |
|||||||||
| Loans held-for-investment | $ |
1,278,106 |
100.0 |
% |
$ |
1,256,063 |
100.0 |
% |
$ |
1,239,564 |
100.0 |
% |
$ |
1,222,865 |
100.0 |
% |
$ |
1,228,496 |
100.0 |
% |
|||||||||
| Loans held-for-sale | $ |
183,996 |
$ |
194,542 |
$ |
198,448 |
$ |
198,021 |
$ |
209,144 |
|||||||||||||||||||
| Total loans receivable | $ |
1,462,102 |
$ |
1,450,605 |
$ |
1,438,012 |
$ |
1,420,886 |
$ |
1,437,640 |
|||||||||||||||||||
| FIVE-QUARTER SBA LOAN PRODUCTIONS/SALES DATA (Unaudited) - Table 7 | ||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||
| June 30 | March 31, | December 31, | September 30, | June 30, | June 30 | June 30 | ||||||||||||||||||||||
2025 |
2025 |
2024 |
2024 |
2024 |
2025 |
2024 |
||||||||||||||||||||||
| SBA loans held-for-sale at beginning of the quarter/year | $ |
194,542 |
|
$ |
198,448 |
|
$ |
198,021 |
|
$ |
209,144 |
|
$ |
198,167 |
|
$ |
198,448 |
|
$ |
218,258 |
|
|||||||
| SBA loans originated/transferred from/to held-for- | ||||||||||||||||||||||||||||
| investment during the quarter/year |
|
20,135 |
|
|
23,778 |
|
|
22,172 |
|
|
13,169 |
|
|
34,366 |
|
|
43,913 |
|
|
48,955 |
|
|||||||
| SBA loans sold during the quarter/year |
|
(17,580 |
) |
|
(19,753 |
) |
|
(17,215 |
) |
|
(20,152 |
) |
|
(19,508 |
) |
|
(37,333 |
) |
|
(47,672 |
) |
|||||||
| SBA loans principal paydown/payoff, net of advance |
|
(13,101 |
) |
|
(7,931 |
) |
|
(4,530 |
) |
|
(4,140 |
) |
|
(3,881 |
) |
|
(21,032 |
) |
|
(10,397 |
) |
|||||||
| SBA loans held-for-sale at end of the quarter/year | $ |
183,996 |
|
$ |
194,542 |
|
$ |
198,448 |
|
$ |
198,021 |
|
$ |
209,144 |
|
$ |
183,996 |
|
$ |
209,144 |
|
|||||||
| Gain on sale of SBA loans | $ |
900 |
|
$ |
1,021 |
|
$ |
1,013 |
|
$ |
991 |
|
$ |
1,064 |
|
$ |
1,921 |
|
$ |
2,553 |
|
|||||||
| Premium on sale (weighted average) |
|
8.1 |
% |
|
8.1 |
% |
|
9.2 |
% |
|
7.5 |
% |
|
6.8 |
% |
|
8.1 |
% |
|
8.4 |
% |
|||||||
| SBA loan production | $ |
28,860 |
|
$ |
32,034 |
|
$ |
39,741 |
|
$ |
23,227 |
|
$ |
45,126 |
|
$ |
60,894 |
|
$ |
63,215 |
|
|||||||
| FIVE QUARTER SBA SERVICING ASSETS AND SERVICING FEES (Unaudited) - Table 8 | ||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | June 30, | June 30, | ||||||||||||||||||||||
2025 |
2025 |
2024 |
2024 |
2024 |
2025 |
2024 |
||||||||||||||||||||||
| SBA servicing assets @ beginning of the quarter/year | $ |
6,708 |
|
$ |
6,909 |
|
$ |
7,192 |
|
$ |
7,404 |
|
$ |
7,560 |
|
$ |
6,909 |
|
$ |
7,673 |
|
|||||||
| Newly added SBA servicing assets from SBA loans sold |
|
355 |
|
|
361 |
|
|
355 |
|
|
377 |
|
|
395 |
|
|
716 |
|
|
950 |
|
|||||||
| Regular quarterly/annual servicing assets amortization |
|
(299 |
) |
|
(305 |
) |
|
(315 |
) |
|
(332 |
) |
|
(335 |
) |
|
(604 |
) |
|
(667 |
) |
|||||||
| SBA servicing assets amortized from SBA loans paid off/charged off |
|
(155 |
) |
|
(257 |
) |
|
(323 |
) |
|
(257 |
) |
|
(216 |
) |
|
(412 |
) |
|
(552 |
) |
|||||||
| Subtotal before impairment |
|
6,609 |
|
|
6,708 |
|
|
6,909 |
|
|
7,192 |
|
|
7,404 |
|
|
6,609 |
|
|
7,404 |
|
|||||||
| Reversal of valuation allowance on servicing assets |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|||||||
| SBA servicing assets @ the end of the quarter/year | $ |
6,609 |
|
$ |
6,708 |
|
$ |
6,909 |
|
$ |
7,192 |
|
$ |
7,404 |
|
$ |
6,609 |
|
$ |
7,404 |
|
|||||||
FIVE-QUARTER DEPOSIT COMPONENTS (Unaudited) - Table 9 |
||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
| June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | ||||||||||||||||||||
| Balance | % | Balance | % | Balance | % | Balance | % | Balance | % | |||||||||||||||
| Noninterest-bearing demand | $ |
309,160 |
20.3% |
$ |
295,857 |
20.0% |
$ |
304,005 |
20.5% |
$ |
318,807 |
22.0% |
$ |
281,243 |
21.0% |
|||||||||
| Interest-bearing demand |
|
10,698 |
0.7% |
|
6,588 |
0.5% |
|
7,541 |
0.5% |
|
6,590 |
0.5% |
|
7,901 |
0.6% |
|||||||||
| NOW & MMDA |
|
274,578 |
18.0% |
|
257,474 |
17.4% |
|
269,475 |
18.2% |
|
246,157 |
17.0% |
|
240,951 |
18.0% |
|||||||||
| Savings |
|
85,609 |
5.6% |
|
81,425 |
5.5% |
|
84,727 |
5.7% |
|
78,356 |
5.4% |
|
80,360 |
6.0% |
|||||||||
| TCDs of $250K and under |
|
319,209 |
20.9% |
|
315,312 |
21.3% |
|
324,041 |
21.9% |
|
310,134 |
21.4% |
|
295,109 |
22.0% |
|||||||||
| TCDs of $250K over |
|
403,676 |
26.5% |
|
377,486 |
25.6% |
|
345,045 |
23.3% |
|
342,301 |
23.7% |
|
314,119 |
23.4% |
|||||||||
| Wholesale deposits |
|
121,990 |
8.0% |
|
143,077 |
9.7% |
|
145,738 |
9.9% |
|
145,246 |
10.0% |
|
120,706 |
9.0% |
|||||||||
| Total Deposits | $ |
1,524,920 |
100.0% |
$ |
1,477,219 |
100.0% |
$ |
1,480,572 |
100.0% |
$ |
1,447,591 |
100.0% |
$ |
1,340,389 |
100.0% |
|||||||||
| Recap: | ||||||||||||||||||||||||
| Noninterest-bearing demand | $ |
309,160 |
20.3% |
$ |
295,857 |
20.0% |
$ |
304,005 |
20.5% |
$ |
318,807 |
22.0% |
$ |
281,243 |
21.0% |
|||||||||
| Interest-bearing demand |
|
10,698 |
0.7% |
|
6,588 |
0.5% |
|
7,541 |
0.5% |
|
6,590 |
0.5% |
|
7,901 |
0.6% |
|||||||||
| NOW & MMDA |
|
274,578 |
18.0% |
|
257,474 |
17.4% |
|
269,475 |
18.2% |
|
246,157 |
17.0% |
|
240,951 |
18.0% |
|||||||||
| Savings |
|
85,609 |
5.6% |
|
81,425 |
5.5% |
|
84,727 |
5.7% |
|
78,356 |
5.4% |
|
80,360 |
6.0% |
|||||||||
| TCDs of $250K and under |
|
319,209 |
20.9% |
|
315,312 |
21.3% |
|
324,041 |
21.9% |
|
310,134 |
21.4% |
|
295,109 |
22.0% |
|||||||||
| Core Deposits |
|
999,254 |
65.5% |
|
956,656 |
64.7% |
|
989,789 |
66.8% |
|
960,044 |
66.3% |
|
881,952 |
67.6% |
|||||||||
| TCDs of $250K over |
|
403,676 |
26.5% |
|
377,486 |
25.6% |
|
345,045 |
23.3% |
|
342,301 |
23.7% |
|
314,119 |
23.4% |
|||||||||
| Nonreciprocal ICS MMDA |
|
- |
- |
|
- |
- |
|
- |
- |
|
- |
- |
|
- |
- |
|||||||||
| Wholesale deposits |
|
121,990 |
8.0% |
|
143,077 |
9.7% |
|
145,738 |
9.9% |
|
145,246 |
10.0% |
|
120,706 |
9.0% |
|||||||||
| Noncore Deposits |
|
525,666 |
34.5% |
|
520,563 |
35.3% |
|
490,783 |
33.1% |
|
487,547 |
33.7% |
|
434,825 |
32.4% |
|||||||||
| Total Deposits | $ |
1,524,920 |
100.0% |
$ |
1,477,219 |
100.0% |
$ |
1,480,572 |
100.0% |
$ |
1,447,591 |
100.0% |
$ |
1,340,389 |
100.0% |
|||||||||
| FIVE-QUARTER SELECTED LOAN AND ASSET QUALITY HIGHLIGHTS (Unaudited) - Table 10 | ||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
|
||||||||||||||||||||
|
2nd Qtr. | 1st Qtr. | 4th Qtr. | 3rd Qtr. | 2nd Qtr. | |||||||||||||||
|
2025 |
2025 |
2024 |
2024 |
2024 |
|||||||||||||||
Allowance for Credit Losses |
||||||||||||||||||||
Balance at beginning of period |
$ |
14,850 |
|
$ |
15,959 |
|
$ |
15,948 |
|
$ |
16,042 |
|
$ |
16,048 |
|
|||||
Provision for credit losses |
|
590 |
|
|
430 |
|
|
- |
|
|
- |
|
|
200 |
|
|||||
Charge-offs |
|
(143 |
) |
|
(1,567 |
) |
|
- |
|
|
(108 |
) |
|
(257 |
) |
|||||
Recoveries |
|
164 |
|
|
28 |
|
|
11 |
|
|
14 |
|
|
51 |
|
|||||
Balance at the end of period |
$ |
15,461 |
|
$ |
14,850 |
|
$ |
15,959 |
|
$ |
15,948 |
|
$ |
16,042 |
|
|||||
|
||||||||||||||||||||
Nonperforming Assets:¹ |
||||||||||||||||||||
Over 90 days still accruing |
$ |
1,487 |
|
$ |
- |
|
$ |
1,819 |
|
$ |
994 |
|
$ |
- |
|
|||||
Nonaccrual loans |
|
12,213 |
|
|
8,545 |
|
|
9,711 |
|
|
7,043 |
|
|
5,797 |
|
|||||
Total nonperforming loans |
|
13,700 |
|
|
8,545 |
|
|
11,530 |
|
|
8,037 |
|
|
5,797 |
|
|||||
|
||||||||||||||||||||
Other real estate owned |
$ |
2,999 |
|
|
3,130 |
|
|
521 |
|
|
521 |
|
|
- |
|
|||||
Total nonperforming assets |
$ |
16,699 |
|
$ |
11,675 |
|
$ |
12,051 |
|
$ |
8,558 |
|
$ |
5,797 |
|
|||||
|
||||||||||||||||||||
Classified Assets:¹ |
||||||||||||||||||||
Substandard |
$ |
30,442 |
|
$ |
20,827 |
|
$ |
22,077 |
|
$ |
15,980 |
|
$ |
12,762 |
|
|||||
Doubtful |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|||||
Loss |
||||||||||||||||||||
Total classified loans |
$ |
30,442 |
|
$ |
20,827 |
|
$ |
22,077 |
|
$ |
15,980 |
|
$ |
12,762 |
|
|||||
|
||||||||||||||||||||
Other real estate owned |
$ |
2,999 |
|
|
3,130 |
|
|
521 |
|
|
521 |
|
|
- |
|
|||||
Total classified assets |
$ |
33,441 |
|
$ |
23,957 |
|
$ |
22,598 |
|
$ |
16,501 |
|
$ |
12,762 |
|
|||||
|
||||||||||||||||||||
Performing modified loans:¹ |
$ |
160 |
|
$ |
635 |
|
$ |
649 |
|
$ |
452 |
|
$ |
464 |
|
|||||
|
||||||||||||||||||||
Delinquent Loans:¹ |
||||||||||||||||||||
Loans 30-89 days past due |
$ |
11,548 |
|
$ |
19,010 |
|
$ |
7,614 |
|
$ |
4,308 |
|
$ |
8,613 |
|
|||||
90 days or more past due and still accruing |
|
1,487 |
|
|
- |
|
|
1,819 |
|
|
994 |
|
|
- |
|
|||||
Nonaccrual |
|
12,213 |
|
|
8,545 |
|
|
9,711 |
|
|
7,043 |
|
|
5,797 |
|
|||||
Total delinquent loans |
$ |
25,248 |
|
$ |
27,555 |
|
$ |
19,144 |
|
$ |
12,345 |
|
$ |
14,410 |
|
|||||
|
||||||||||||||||||||
Asset Quality Ratios: |
||||||||||||||||||||
Net (recoveries) charge-offs to average loans² |
|
(0.01 |
%) |
|
0.43 |
% |
|
0.00 |
% |
|
0.03 |
% |
|
0.06 |
% |
|||||
Nonaccrual loans to loans held-for-investment |
|
0.96 |
% |
|
0.68 |
% |
|
0.78 |
% |
|
0.58 |
% |
|
0.47 |
% |
|||||
Nonperforming loans to loans held-for-investment |
|
1.07 |
% |
|
0.68 |
% |
|
0.93 |
% |
|
0.66 |
% |
|
0.47 |
% |
|||||
Nonperforming assets to total assets |
|
0.92 |
% |
|
0.64 |
% |
|
0.66 |
% |
|
0.48 |
% |
|
0.35 |
% |
|||||
Classified loans to loans held-for-investment |
|
2.38 |
% |
|
1.66 |
% |
|
1.78 |
% |
|
1.31 |
% |
|
1.04 |
% |
|||||
Classified loans to Tier 1 and ACL |
|
11.07 |
% |
|
7.69 |
% |
|
8.22 |
% |
|
6.05 |
% |
|
4.93 |
% |
|||||
Classified assets to total assets |
|
1.84 |
% |
|
1.32 |
% |
|
1.24 |
% |
|
0.93 |
% |
|
0.77 |
% |
|||||
Classified assets to Tier 1 and ACL |
|
12.16 |
% |
|
8.84 |
% |
|
8.42 |
% |
|
6.25 |
% |
|
4.93 |
% |
|||||
ACL to loans held-for-investment |
|
1.21 |
% |
|
1.18 |
% |
|
1.29 |
% |
|
1.30 |
% |
|
1.31 |
% |
|||||
ACL to nonaccrual loans |
|
126.59 |
% |
|
173.79 |
% |
|
164.34 |
% |
|
226.44 |
% |
|
276.73 |
% |
|||||
ACL to nonperforming loans |
|
112.85 |
% |
|
173.79 |
% |
|
138.41 |
% |
|
198.43 |
% |
|
276.73 |
% |
|||||
ACL to nonperforming assets |
|
92.59 |
% |
|
127.19 |
% |
|
132.43 |
% |
|
186.35 |
% |
|
276.73 |
% |
|||||
Texas ratio ³ |
|
6.07 |
% |
|
4.31 |
% |
|
4.49 |
% |
|
3.24 |
% |
|
2.24 |
% |
|||||
1 |
Net of SBA guaranteed balance | ||
2 |
Includes loans held-for-sale | ||
3 |
Nonperforming assets divided by tangible common equity and ACL | ||
| FIVE-QUARTER CAPITAL RATIOS (Unaudited) - Table 11 | |||||||||||||||||||||||
|
|
||||||||||||||||||||||
Well Capitalized
|
Adequately
|
June 30, 2025 |
March 31, 2025 |
December 31, 2024 |
September 30, 2024 |
June 30, 2024 |
|||||||||||||||||
|
|
||||||||||||||||||||||
| Leverage ratio |
|
|
|||||||||||||||||||||
| Company | N/A |
N/A |
|
14.48 |
% |
|
14.04 |
% |
|
14.12 |
% |
|
14.64 |
% |
|
14.51 |
% |
||||||
| Bank | 5.00% |
4.00% |
|
14.45 |
% |
|
14.00 |
% |
|
14.07 |
% |
|
14.58 |
% |
|
14.45 |
% |
||||||
| Common equity tier 1 risk-based capital ratio |
|
|
|||||||||||||||||||||
| Company | N/A |
N/A |
|
18.98 |
% |
|
19.10 |
% |
|
19.02 |
% |
|
19.03 |
% |
|
18.36 |
% |
||||||
| Bank | 6.50% |
7.00% |
|
18.94 |
% |
|
19.05 |
% |
|
18.95 |
% |
|
18.95 |
% |
|
18.28 |
% |
||||||
| Tier 1 risk-based capital ratio |
|
|
|||||||||||||||||||||
| Company | N/A |
N/A |
|
18.98 |
% |
|
19.10 |
% |
|
19.02 |
% |
|
19.03 |
% |
|
18.36 |
% |
||||||
| Bank | 8.00% |
8.50% |
|
18.94 |
% |
|
19.05 |
% |
|
18.95 |
% |
|
18.95 |
% |
|
18.28 |
% |
||||||
| Total risk-based capital ratio |
|
|
|||||||||||||||||||||
| Company | N/A |
N/A |
|
20.13 |
% |
|
20.23 |
% |
|
20.23 |
% |
|
20.26 |
% |
|
19.59 |
% |
||||||
| Bank | 10.00% |
10.50% |
|
20.09 |
% |
|
20.18 |
% |
|
20.16 |
% |
|
20.18 |
% |
|
19.50 |
% |
||||||
|
|
||||||||||||||||||||||
| Tangible common equity/total assets |
|
|
|
14.32 |
% |
|
14.13 |
% |
|
13.93 |
% |
|
14.03 |
% |
|
14.70 |
% |
||||||
| Tangible common equity per share |
|
|
$ |
24.51 |
|
$ |
24.18 |
|
$ |
23.85 |
|
$ |
23.44 |
|
$ |
22.94 |
|
||||||
| FIVE-QUARTER MARGIN ANALYSIS (Unaudited) -Table 12 | |||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||||||
| June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | |||||||||||||||||||||||||||||||||||
| Avg Balance | Interest | Yield | Avg Balance | Interest | Yield | Avg Balance | Interest | Yield | Avg Balance | Interest | Yield | Avg Balance | Interest | Yield | |||||||||||||||||||||||||
| Number of Days in the Period | |||||||||||||||||||||||||||||||||||||||
| INTEREST-EARNING ASSETS | |||||||||||||||||||||||||||||||||||||||
| Loans Receivable¹ | $ |
1,461,584 |
|
$ |
24,171 |
6.63 |
% |
$ |
1,437,846 |
|
$ |
23,618 |
6.66 |
% |
$ |
1,432,216 |
|
$ |
24,863 |
6.91 |
% |
$ |
1,427,123 |
|
$ |
25,357 |
7.07 |
% |
$ |
1,418,458 |
|
$ |
24,887 |
7.06 |
% |
||||
| Investment securities ² |
|
64,990 |
|
|
686 |
4.23 |
% |
|
61,930 |
|
|
667 |
4.37 |
% |
|
62,714 |
|
|
696 |
4.42 |
% |
|
68,198 |
|
|
734 |
4.28 |
% |
|
70,052 |
|
|
723 |
4.15 |
% |
||||
| Interest-earning deposits at the FRB and other banks |
|
214,514 |
|
|
2,383 |
4.46 |
% |
|
275,512 |
|
|
3,029 |
4.46 |
% |
|
253,524 |
|
|
3,048 |
4.78 |
% |
|
158,127 |
|
|
2,139 |
5.38 |
% |
|
146,956 |
|
|
1,995 |
5.46 |
% |
||||
| Other earning assets |
|
11,011 |
|
|
200 |
7.29 |
% |
|
11,011 |
|
|
203 |
7.48 |
% |
|
11,011 |
|
|
211 |
7.62 |
% |
|
11,011 |
|
|
200 |
7.23 |
% |
|
11,011 |
|
|
200 |
7.31 |
% |
||||
| Total interest-earning assets ² |
|
1,752,099 |
|
|
27,440 |
6.28 |
% |
|
1,786,299 |
|
|
27,517 |
6.25 |
% |
|
1,759,465 |
|
|
28,818 |
6.52 |
% |
|
1,664,459 |
|
|
28,430 |
6.80 |
% |
|
1,646,477 |
|
|
27,805 |
6.79 |
% |
||||
| NONINTEREST-EARNING ASSETS | |||||||||||||||||||||||||||||||||||||||
| Cash and due from banks |
|
11,512 |
|
|
12,060 |
|
|
12,349 |
|
|
12,527 |
|
|
12,907 |
|
||||||||||||||||||||||||
| Other noninterest-earning assets |
|
44,078 |
|
|
41,549 |
|
|
35,479 |
|
|
34,395 |
|
|
33,263 |
|
||||||||||||||||||||||||
| Total noninterest-earning assets |
|
55,590 |
|
|
53,609 |
|
|
47,828 |
|
|
46,922 |
|
|
46,170 |
|
||||||||||||||||||||||||
| Less: Allowance for credit losses |
|
(14,899 |
) |
|
(15,569 |
) |
|
(15,953 |
) |
|
(16,024 |
) |
|
(16,058 |
) |
||||||||||||||||||||||||
| TOTAL ASSETS | $ |
1,792,790 |
|
$ |
1,824,339 |
|
$ |
1,791,340 |
|
$ |
1,695,357 |
|
$ |
1,676,589 |
|
||||||||||||||||||||||||
| INTEREST-BEARING DEPOSITS | |||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ |
9,957 |
|
$ |
5 |
0.20 |
% |
$ |
9,622 |
|
$ |
5 |
0.20 |
% |
$ |
11,147 |
|
$ |
6 |
0.20 |
% |
$ |
11,007 |
|
$ |
6 |
0.20 |
% |
$ |
11,864 |
|
$ |
6 |
0.20 |
% |
||||
| Money market |
|
263,197 |
|
|
2,540 |
3.87 |
% |
|
265,687 |
|
|
2,555 |
3.90 |
% |
|
244,258 |
|
|
2,508 |
4.08 |
% |
|
236,834 |
|
|
2,555 |
4.29 |
% |
|
230,261 |
|
|
2,272 |
3.97 |
% |
||||
| Savings |
|
83,261 |
|
|
633 |
3.05 |
% |
|
83,978 |
|
|
638 |
3.08 |
% |
|
81,423 |
|
|
661 |
3.23 |
% |
|
79,289 |
|
|
689 |
3.46 |
% |
|
82,215 |
|
|
700 |
3.42 |
% |
||||
| Time deposits |
|
847,092 |
|
|
9,159 |
4.34 |
% |
|
830,672 |
|
|
9,331 |
4.56 |
% |
|
815,866 |
|
|
9,828 |
4.79 |
% |
|
767,607 |
|
|
9,536 |
4.94 |
% |
|
759,954 |
|
|
9,296 |
4.92 |
% |
||||
| Total interest-bearing deposits |
|
1,203,507 |
|
|
12,337 |
4.11 |
% |
|
1,189,959 |
|
|
12,529 |
4.27 |
% |
|
1,152,694 |
|
|
13,003 |
4.49 |
% |
|
1,094,737 |
|
|
12,786 |
4.65 |
% |
|
1,084,294 |
|
|
12,274 |
4.55 |
% |
||||
| Borrowings |
|
4,122 |
|
|
8 |
0.78 |
% |
|
48,889 |
|
|
115 |
0.95 |
% |
|
50,001 |
|
|
118 |
0.94 |
% |
|
50,000 |
|
|
118 |
0.94 |
% |
|
50,013 |
|
|
117 |
0.94 |
% |
||||
| Total interest-bearing liabilities |
|
1,207,629 |
|
|
12,345 |
4.10 |
% |
|
1,238,848 |
|
|
12,644 |
4.14 |
% |
|
1,202,695 |
|
|
13,121 |
4.34 |
% |
|
1,144,737 |
|
|
12,904 |
4.48 |
% |
|
1,134,307 |
|
|
12,391 |
4.39 |
% |
||||
| Noninterest-bearing deposits |
|
296,496 |
|
|
298,579 |
|
|
309,662 |
|
|
280,670 |
|
|
279,765 |
|
||||||||||||||||||||||||
| Other liabilities |
|
28,026 |
|
|
29,428 |
|
|
26,090 |
|
|
21,376 |
|
|
19,287 |
|
||||||||||||||||||||||||
| Stockholders' equity |
|
260,639 |
|
|
257,484 |
|
|
252,893 |
|
|
248,574 |
|
|
243,230 |
|
||||||||||||||||||||||||
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ |
1,792,790 |
|
$ |
1,824,339 |
|
$ |
1,791,340 |
|
$ |
1,695,357 |
|
$ |
1,676,589 |
|
||||||||||||||||||||||||
| Net interest income² | $ |
15,095 |
$ |
14,873 |
$ |
15,697 |
$ |
15,526 |
$ |
15,414 |
|||||||||||||||||||||||||||||
| Net interest spread | 2.18 |
% |
2.11 |
% |
2.18 |
% |
2.32 |
% |
2.40 |
% |
|||||||||||||||||||||||||||||
| Effect of noninterest-bearing sources | 1.28 |
% |
1.27 |
% |
1.37 |
% |
1.39 |
% |
1.37 |
% |
|||||||||||||||||||||||||||||
| Net interest margin² | 3.46 |
% |
3.38 |
% |
3.55 |
% |
3.71 |
% |
3.77 |
% |
|||||||||||||||||||||||||||||
| Cost of deposits | $ |
1,500,003 |
|
$ |
12,337 |
3.30 |
% |
$ |
1,488,538 |
|
$ |
12,529 |
3.41 |
% |
$ |
1,462,356 |
|
$ |
13,003 |
3.54 |
% |
$ |
1,375,407 |
|
$ |
12,786 |
3.70 |
% |
$ |
1,364,059 |
|
$ |
12,274 |
3.62 |
% |
||||
| Cost of funds | $ |
1,504,125 |
|
$ |
12,345 |
3.29 |
% |
$ |
1,537,427 |
|
$ |
12,644 |
3.34 |
% |
$ |
1,512,357 |
|
$ |
13,121 |
3.45 |
% |
$ |
1,425,407 |
|
$ |
12,904 |
3.60 |
% |
$ |
1,414,072 |
|
$ |
12,391 |
3.52 |
% |
||||
| 1 | Loan held-for-investment, plus loans held-for-sale |
|
| 2 | Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate |
| FIVE-QUARTER COMPONENTS OF YIELD ON LOANS (Unaudited) - Table 13 | |||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| June 30, 2025 | March 31,2025 | December 31, 2024 | September 30, 2024 | June 30,2024 | |||||||||||||||||||||||||||||||
| Amount | Yield | Amount | Yield | Amount | Yield | Amount | Yield | Amount | Yield | ||||||||||||||||||||||||||
| Contractual yield | $ |
23,731 |
|
6.51 |
% |
$ |
22,866 |
|
6.45 |
% |
$ |
24,036 |
|
6.68 |
% |
$ |
24,544 |
|
6.84 |
% |
$ |
24,271 |
|
6.88 |
% |
||||||||||
| SBA discount accretion |
|
588 |
|
0.16 |
% |
|
781 |
|
0.22 |
% |
|
818 |
|
0.23 |
% |
|
806 |
|
0.23 |
% |
|
736 |
|
0.21 |
% |
||||||||||
| Prepayment penalties and late fees |
|
53 |
|
0.01 |
% |
|
136 |
|
0.04 |
% |
|
64 |
|
0.02 |
% |
|
184 |
|
0.05 |
% |
|
36 |
|
0.01 |
% |
||||||||||
| Amortization of net deferred costs |
|
(201 |
) |
-0.05 |
% |
|
(165 |
) |
-0.05 |
% |
|
(55 |
) |
-0.02 |
% |
|
(177 |
) |
-0.05 |
% |
|
(156 |
) |
-0.04 |
% |
||||||||||
| As reported yield on loans | $ |
24,171 |
|
6.63 |
% |
$ |
23,618 |
|
6.66 |
% |
$ |
24,863 |
|
6.91 |
% |
$ |
25,357 |
|
7.07 |
% |
$ |
24,887 |
|
7.06 |
% |
||||||||||
| MARGIN ANALYSIS (Unaudited) - Table 14 | |||||||||||||||
| (Dollars in thousands) | |||||||||||||||
| Six Months Ended | |||||||||||||||
| June 30, 2025 | June 30,2024 | ||||||||||||||
| Avg Balance | Interest | Yield | Avg Balance | Interest | Yield | ||||||||||
| Number of Days in the Period | |||||||||||||||
| INTEREST-EARNING ASSETS | |||||||||||||||
| Loans Receivable ¹ | $ |
1,449,780 |
|
$ |
47,789 |
6.65 |
% |
$ |
1,417,191 |
|
$ |
49,793 |
7.07 |
% |
|
| Investment securities ² |
|
63,469 |
|
|
1,353 |
4.30 |
% |
|
64,803 |
|
|
1,298 |
4.03 |
% |
|
| Interest-earning deposits at the FRB and other banks |
|
244,844 |
|
|
5,412 |
4.46 |
% |
|
177,056 |
|
|
4,812 |
5.47 |
% |
|
| Other earning assets |
|
11,011 |
|
|
403 |
7.38 |
% |
|
11,011 |
|
|
414 |
7.56 |
% |
|
| Total interest-earning assets ² |
|
1,769,104 |
|
|
54,957 |
6.26 |
% |
|
1,670,061 |
|
|
56,317 |
6.78 |
% |
|
| NONINTEREST-EARNING ASSETS | |||||||||||||||
| Cash and due from banks |
|
11,784 |
|
|
12,540 |
|
|||||||||
| Other noninterest-earning assets |
|
42,701 |
|
|
32,122 |
|
|||||||||
| Total noninterest-earning assets |
|
54,485 |
|
|
44,662 |
|
|||||||||
| Less: Allowance for credit losses |
|
(15,232 |
) |
|
(15,690 |
) |
|||||||||
| TOTAL ASSETS | $ |
1,808,357 |
|
$ |
1,699,033 |
|
|||||||||
| INTEREST-BEARING DEPOSITS | |||||||||||||||
| Interest-bearing demand | $ |
9,790 |
|
$ |
10 |
0.20 |
% |
$ |
12,271 |
|
$ |
12 |
0.20 |
% |
|
| Money market |
|
264,435 |
|
|
5,095 |
3.89 |
% |
|
229,851 |
|
|
4,557 |
3.99 |
% |
|
| Savings |
|
83,618 |
|
|
1,271 |
3.07 |
% |
|
83,534 |
|
|
1,424 |
3.43 |
% |
|
| Time deposits |
|
838,927 |
|
|
18,490 |
4.44 |
% |
|
780,539 |
|
|
18,819 |
4.85 |
% |
|
| Total interest-bearing deposits |
|
1,196,770 |
|
|
24,866 |
4.19 |
% |
|
1,106,195 |
|
|
24,812 |
4.51 |
% |
|
| Borrowings |
|
26,382 |
|
|
123 |
0.94 |
% |
|
50,007 |
|
|
234 |
0.94 |
% |
|
| Total interest-bearing liabilities |
|
1,223,152 |
|
|
24,989 |
4.12 |
% |
|
1,156,202 |
|
|
25,046 |
4.36 |
% |
|
| Noninterest-bearing deposits |
|
297,532 |
|
|
282,316 |
|
|||||||||
| Other liabilities |
|
28,603 |
|
|
19,707 |
|
|||||||||
| Stockholders' equity |
|
259,070 |
|
|
240,808 |
|
|||||||||
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ |
1,808,357 |
|
$ |
1,699,033 |
|
|||||||||
| Net interest income² | $ |
29,968 |
$ |
31,271 |
|||||||||||
| Net interest spread | 2.14 |
% |
2.42 |
% |
|||||||||||
| Effect of noninterest-bearing sources | 1.28 |
% |
1.35 |
% |
|||||||||||
| Net interest margin² | 3.42 |
% |
3.77 |
% |
|||||||||||
| Cost of deposits | $ |
1,494,302 |
|
$ |
24,866 |
3.36 |
% |
$ |
1,388,511 |
|
$ |
24,812 |
3.59 |
% |
|
| Cost of funds | $ |
1,520,684 |
|
$ |
24,989 |
3.31 |
% |
$ |
1,438,518 |
|
$ |
25,046 |
3.50 |
% |
|
| 1 | Loan held-for-investment, plus loans held-for-sale |
|
| 2 | Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate |
| COMPONENTS OF YIELD ON LOANS (Unaudited) - Table 15 | ||||||||||||||
| (Dollars in thousands) | ||||||||||||||
| Six Months Ended | ||||||||||||||
| June 30, 2025 | June 30, 2024 | |||||||||||||
| Amount | Yield | Amount | Yield | |||||||||||
| Contractual yield | $ |
46,597 |
|
6.48 |
% |
$ |
48,409 |
|
6.87 |
% |
||||
| SBA discount accretion |
|
1,369 |
|
0.19 |
% |
|
1,662 |
|
0.24 |
% |
||||
| Prepayment penalties and late fees |
|
189 |
|
0.03 |
% |
|
103 |
|
0.01 |
% |
||||
| Amortization of net deferred costs |
|
(366 |
) |
-0.05 |
% |
|
(381 |
) |
-0.05 |
% |
||||
| As reported yield on loans | $ |
47,789 |
|
6.65 |
% |
$ |
49,793 |
|
7.07 |
% |
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250724169089/en/
Contacts
Alex Ko, EVP & CFO
(213) 296-5737
AlexK@cbb-bank.com