Solera National Bancorp, Inc.: Solera National Bancorp Announces Second Quarter 2025 Financial Results

Net income of $5.9 million ($1.38 per share), a NEW RECORD!

Q2 2025 pre-tax and pre-provision income of $8.6 million. Another new record!

American Banker has recognized Solera National as part of the 2025 Top-Performing Banks with under $2B of assets, #3.

LAKEWOOD, CO / ACCESS Newswire / July 25, 2025 / Solera National Bancorp, Inc. (OTC:SLRK) ("Company"), the holding company for Solera National Bank ("Bank"), a business-focused bank located in the Denver metropolitan area, today reported financial results for the three months ended June 30, 2025. See highlights below.

2Q25 Financial Highlights

• Net income of $5.9 million ($1.38 per share), a $1.7 million or 40% increase from Q2 2024.

• Net interest income increased $726 thousand or 11% from Q2 2024.

• Solera had a pre-tax and pre-provision income of $8.6 million. 48% or $2.8 million increase from Q2 2024.

• Non-interest income of $3.7 million or $2.5 million, or a 205% increase from Q2 2024.

• Return on assets was 2.02%, a 66 bps improvement from Q2 2024.

• Return on equity was 25.92%, a 549 bps improvement from Q2 2024.

Mike Quagliano, Executive Chairman of the Board, commented: "We exist for the benefit of the shareholders, and our relentless focus on customer excellence has led to 11 years of stellar earnings, with this latest quarter being the best yet."

Steve Snailum, COO, commented: "The agility of Solera is propelling us forward in the banking landscape. The commitment of the company and the board to advancing Solera's tech stack and streamlining the operations empowers us to swiftly overcome obstacles, streamline processes, and foster client relationships in a very unique way. We are committed to quicker advancement than the competition and maintaining stronger customer bonds. This record-breaking quarter truly showcases the dedication, skill, and effort that is on display daily at Solera National Bank."

Avram Shabanyan, EVP, commented: "Strong partnerships and a disciplined focus on client success fuel Solera Bank's continued growth in the self-directed space. Our continued commitment to customer-first solutions empowers individuals to utilize their retirement funds in alternative investment opportunities confidently."

Jay Hansen, Chief Financial Officer, commented: "Our performance this quarter reflects the strength of our diversified portfolio and disciplined risk management. Our ratios continue to improve, and our team members are in a great position for long-term success."

About Solera National Bancorp, Inc.

Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving the needs of emerging businesses and real estate investors. At the core of Solera National Bank is welcoming, attentive, and respectful customer service, a focus on supporting a growing and diverse economy, and a passion to serve our community through service, education, and volunteerism. For more information, please visit http://www.SoleraBank.com.

This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly-owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.

Source: Solera National Bank

Contacts: Jay Hansen, CFO [phone]

FINANCIAL TABLES FOLLOW

SOLERA NATIONAL BANCORP, INC.
CONSOLIDATED BALANCE SHEET
(unaudited)

($000s)		6/30/25				3/31/25				12/31/24				9/30/24				6/30/24
ASSETS
Cash and due from banks		$	1,969			$	2,401			$	1,576			$	2,193			$	2,241
Federal funds sold			-				-				800				400				-
Interest-bearing deposits with banks			2,963				1,033				148				595				844
Investment securities, available-for-sale			422,112				290,397				322,375				317,180				183,311
Investment securities, held-to-maturity			-				-				-				-				200,457
FHLB and Federal Reserve Bank stocks, at cost			5,004				5,525				7,457				3,204				10,959
Paycheck Protection Program (PPP) loans, gross			-				5				20				35				50
Traditional loans, gross			754,518				766,687				792,753				797,516				792,739
Allowance for loan and lease losses			(11,219	)			(10,914	)			(10,913	)			(10,912	)			(10,810	)
Net traditional loans			743,299				755,773				781,840				786,604				781,929
Premises and equipment, net			35,128				33,236				33,476				32,289				30,625
Accrued interest receivable			10,244				7,153				7,750				6,940				7,808
Bank-owned life insurance			5,190				5,159				5,127				5,095				5,063
Other assets			13,433				11,103				8,820				8,734				8,325
TOTAL ASSETS		$	1,239,342			$	1,111,785			$	1,169,389			$	1,163,269			$	1,231,612
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing demand deposits		$	463,861			$	466,455			$	484,604			$	497,661			$	503,819
Interest-bearing demand deposits			65,761				60,507				54,734				64,606				62,905
Savings and money market deposits			138,964				104,560				100,987				103,118				102,892
Time deposits			436,547				287,378				294,338				353,405				272,744
Total deposits			1,105,133				918,900				934,663				1,018,790				942,360
Accrued interest payable			2,528				1,808				2,587				2,618				2,104
Short-term borrowings			(1	)			60,191				104,607				13,300				164,613
Long-term FHLB borrowings			34,000				34,000				34,000				34,000				34,000
Accounts payable and other liabilities			5,337				6,087				4,576				5,395				3,961
TOTAL LIABILITIES			1,146,997				1,020,987				1,080,434				1,074,104				1,147,038
Common stock			43				43				43				43				43
Additional paid-in capital			38,778				38,763				38,748				38,748				38,778
Retained earnings			83,008				77,076				72,455				67,163				61,667
Accumulated other comprehensive (loss) gain			(29,484	)			(25,084	)			(22,291	)			(16,789	)			(15,914	)
TOTAL STOCKHOLDERS' EQUITY			92,345				90,798				88,955				89,165				84,574
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,239,342			$	1,111,785			$	1,169,389			$	1,163,269			$	1,231,612

SOLERA NATIONAL BANCORP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended
($000s, except per share data)		6/30/25				3/31/25				12/31/24				9/30/24				6/30/24
Interest and dividend income
Interest and fees on traditional loans		$	12,791			$	13,101			$	13,615			$	13,854			$	13,270
Investment securities			4,831				3,490				3,297				3,544				3,721
Dividends on bank stocks			180				175				131				160				249
Other			21				49				13				19				22
Total interest income		$	17,823			$	16,815			$	17,056			$	17,577			$	17,262
Interest expense
Deposits			6,235				4,959				5,564				6,312				5,285
FHLB & Fed borrowings			1,410				1,550				1,223				1,332				2,831
Total interest expense			7,645				6,509				6,787				7,644				8,116
Net interest income			10,178				10,306				10,269				9,933				9,146
Provision for loan and lease losses			310				7				6				105				4
Net interest income after provision for loan and lease losses			9,868				10,299				10,263				9,828				9,142
Noninterest income
Customer service and other fees			291				300				470				389				468
Other income			677				807				954				1,138				738
Gain on sale of securities			2,709				-				-				858				-
Total noninterest income			3,677				1,107				1,424				2,385				1,206
Noninterest expense
Employee compensation and benefits			2,827				2,656				2,611				2,472				2,514
Occupancy			553				448				492				393				387
Professional fees			330				259				309				122				75
Other general and administrative			1,593				1,694				1,437				1,423				1,582
Total noninterest expense			5,303				5,057				4,849				4,410				4,558
Net Income Before Taxes		$	8,242			$	6,349			$	6,838			$	7,803			$	5,790
Income Tax Expense			2,309				1,711				1,526				2,294				1,564
Net Income		$	5,933			$	4,638			$	5,312			$	5,509			$	4,226
Income Per Share		$	1.38			$	1.08			$	1.24			$	1.28			$	0.98
Tangible Book Value Per Share		$	21.48			$	21.12			$	20.69			$	20.74			$	19.67
WA Shares outstanding			4,299,953				4,299,953				4,299,953				4,299,953				4,299,953
Pre-Tax Pre-Provision Income		$	8,552			$	6,356			$	6,844			$	7,908			$	5,794
Net Interest Margin			3.56	%			3.93	%			3.81	%			3.67	%			3.39	%
Cost of Funds			2.66	%			2.49	%			2.51	%			2.72	%			2.80	%
Efficiency Ratio			47.58	%			44.31	%			41.47	%			38.48	%			44.03	%
Return on Average Assets			2.02	%			1.63	%			1.82	%			1.84	%			1.36	%
Return on Average Equity			25.92	%			20.64	%			23.86	%			25.37	%			20.42	%
Leverage Ratio			9.8	%			10.4	%			9.5	%			9.1	%			8.2	%
Asset Quality:
Non-performing loans to gross loans			0.60	%			0.42	%			0.52	%			0.65	%			0.48	%
Non-performing assets to total assets			0.37	%			0.29	%			0.35	%			0.45	%			0.31	%
Allowance for loan losses to gross traditional loans			1.49	%			1.42	%			1.38	%			1.37	%			1.36	%
* Not meaningful due to the insignificant amount of non-performing loans.
Criticized loans/assets:
Special mention		$	2,842			$	11,103			$	10,730			$	29,145			$	25,244
Substandard: Accruing			39,971				19,641				14,911				22,410				23,030
Substandard: Nonaccrual			4,526				3,251				4,142				5,180				3,784
Doubtful			-				-				-				-				-
Total criticized loans		$	47,339			$	33,995			$	29,782			$	56,735			$	52,058
Other real estate owned			-				-				-				-				-
Investment securities			-				-				-				-				-
Total criticized assets		$	47,339			$	33,995			$	29,782			$	56,735			$	52,058
Criticized assets to total assets			3.82	%			3.06	%			2.55	%			4.88	%			4.23	%

SOURCE: Solera National Bancorp, Inc.

View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/solera-national-bancorp-announces-second-quarter-2025-financial-resu-1052582