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PB Financial Corporation Reports Record Third Quarter 2025 Earnings

By: ACCESS Newswire

ROCKY MOUNT, NC, NC / ACCESS Newswire / October 9, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company (the "Company") for Providence Bank, reported net income available to common shareholders for the quarter ended September 30, 2025, of $5.71 million compared to $4.60 million for the same period in 2024, an increase of 24.21%. For the nine-month period ended September 30, 2025, net income available to common shareholders was $15.52 million compared to $11.88 million for the same period in 2024, an increase of 30.69%.

As of September 30, 2025, the Company reported total assets of $1.391 billion compared to $1.285 billion on September 30, 2024, an increase of 8.23%. Total deposits were $1.179 billion and gross loans were $1.181 billion at the end of the third quarter of 2025, compared to total deposits of $1.084 billion and gross loans of $1.086 billion at the end of the third quarter of 2024, increases of 8.75% and 8.71% respectively.

Whitehurst commented, "I am excited to report record quarterly earnings along with strong growth in both loans and deposits. The hard work and effort of our employees and the strategic merger with Coastal Bank & Trust continue to drive efficiency. As always, we will continue to look for opportunity to further enhance shareholder value."

For the nine-month period ended September 30, 2025, the Company had basic earnings of $5.41 per share compared to $4.37 per share for the same period last year, an increase of 23.80%. As of September 30, 2025, the book value per common share was $43.75 compared to $39.70 on September 30, 2024, an increase of 10.20%. On August 22, 2025, the Company paid its third quarter dividend of $0.59 per share for each share of common stock outstanding. It was our 55th consecutively increased quarterly cash dividend paid to shareholders.

Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City and Richlands, as well as a loan production office in New Bern.

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarters ended September 30, 2025 and September 30, 2024 as presented are unaudited.

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

PB Financial Corporation
Consolidated Balance Sheets and Statements of Operations

Balance Sheets

September 30,

December 31,

In Thousands

2025

2024

Assets

(unaudited)

*

Cash and due from banks

$

9,583

$

11,445

Interest-earning deposits with banks

23,347

13,385

Investment securities

130,062

114,048

Loans, gross

1,181,004

1,129,337

Allowance for credit losses

(10,487

)

(10,205

)
Intangible assets

14,097

14,278

Other assets

43,479

44,922

Total assets

$

1,391,085

$

1,317,210

Liabilities and

Stockholders' Equity

Deposits

$

1,178,727

$

1,115,145

Borrowed funds

53,097

58,496

Other liabilities

11,223

10,282

Shareholders' Equity

148,038

133,287

Total liabilities and

stockholders' equity

$

1,391,085

$

1,317,210

Book value per share

$

43.75

$

39.63

Tangible book value per share

$

39.01

$

34.72

Statements of Operations
In Thousands

For the three months ended

For the nine months ended

September 30,

September 30,

September 30,

September 30,

2025

2024

2025

2024

(unaudited)

(unaudited)

(unaudited)

(unaudited)

Interest income

$

22,694

$

20,988

$

65,588

$

56,662

Interest expense

9,465

9,473

28,093

26,257

Net interest income

13,229

11,515

37,495

30,405

Provision for credit losses

-

163

279

355

Net interest income after

provision for credit losses

13,229

11,352

37,216

30,050

Non interest income

516

493

1,453

1,281

Non interest expense

5,874

5,475

17,284

14,701

Income before income taxes

7,871

6,370

21,385

16,630

Income tax expense

1,848

1,460

4,922

3,964

Net income

6,023

4,910

16,463

12,666

Preferred stock dividends

314

313

941

788

Net income available to common stockholders

$

5,709

$

4,597

$

15,522

$

11,878

Net income per common share - basic

$

1.98

$

1.60

$

5.41

$

4.37

Net income per common share - diluted

$

1.87

$

1.54

$

5.14

$

4.20

* Derived from audited financial statements

SOURCE: PB Financial Corp



View the original press release on ACCESS Newswire

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