PB Financial Corporation Reports Record Second Quarter 2026 Earnings

ROCKY MOUNT, NC / ACCESS Newswire / July 7, 2026 / 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 June 30, 2026, of $6,060,996 compared to $5,112,688 for the same period in 2025, an increase of 18.55%. For the six-month period ended June 30, 2026, net income available to common shareholders was $11,617,890 compared to $9,813,082 for the same period in 2025, an increase of 18.39%.

As of June 30, 2026, the Company reported total assets of $1.514 billion compared to $1.402 billion on June 30, 2025, an increase of 8.05%. Total deposits were $1.291 billion and gross loans were $1.260 billion at the end of the second quarter of 2026, compared to total deposits of $1.186 billion and gross loans of $1.176 billion at the end of the second quarter of 2025, increases of 8.84% and 7.15%, respectively.

Whitehurst commented, "I am very pleased to report record quarterly earnings. The Company continued to experience strong growth throughout the organization with over 7% growth in loans, deposits and assets plus over 18% growth in net income available to common shareholders. Our employees continue to help drive our success through their hard work and commitment to serving our customers daily. As always, we will look for opportunities to further enhance shareholder value."

For the six-month period ended June 30, 2026, the Company had basic earnings of $4.02 per share compared to $3.42 per share for the same period last year, an increase of 17.54%. As of June 30, 2026, the book value per common share was $46.39 compared to $41.48 on June 30, 2025, an increase of 11.84%. On August 21, 2026, the Company will pay its third quarter dividend of $0.63 per share for each share of common stock outstanding. This will be the 59^th consecutive quarterly cash dividend paid.

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.

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 June 30, 2026 and June 30, 2025 as presented are unaudited.

PB Financial Corporation
Consolidated Balance Sheets		June 30,				December 31,
(Dollars in thousands)		2026				2025
Assets		(unaudited)					*
Cash and due from banks		$	13,302			$	10,521
Interest-earning deposits with banks			26,569				24,093
Investment securities			167,720				143,472
Loans, gross			1,260,204				1,180,246
Allowance for credit losses			(10,891	)			(10,493	)
Premises and equipment, net			3,675				3,737
Goodwill			9,876				9,876
Other intangible assets			3,514				3,978
Other assets			40,506				39,229
Total assets		$	1,514,475			$	1,404,659

Liabilities and
Stockholders' Equity
Liabilities:
Deposits		$	1,290,855			$	1,186,279
FHLB advances			25,000				25,000
Subordinate debt			23,619				23,593
Junior subordinate debt			4,558				4,528
Other liabilities			12,359				12,186
Total liabilities			1,356,391				1,251,586
Shareholders' Equity:
Preferred stock			17,923				17,923
Common stock			3,021				2,977
Additional paid-in capital			57,217				55,930
Retained earnings			85,861				80,871
Accumulated other comprehensive loss			(5,938	)			(4,628	)
Total shareholders' equity			158,084				153,073
Total liabilities and
shareholders' equity		$	1,514,475			$	1,404,659
Common stock outstanding			3,021,235				2,976,761
Book value per share		$	46.39			$	45.40
Tangible book value per share		$	41.96			$	40.75

* Derived from audited financial statements

PB Financial Corporation
Consolidated Statements of Operations		For the three months ended								For the six months ended
(Dollars in thousands)		June 30,				June 30,				June 30,				June 30,
		2026				2025				2026				2025
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Interest income		$	23,083			$	21,856			$	45,220			$	42,894
Interest expense			9,065				9,361				17,739				18,628
Net interest income			14,018				12,495				27,481				24,266
Provision for credit losses			120				118				404				279
Net interest income after
provision for credit losses			13,898				12,377				27,077				23,987
Non interest income			480				461				974				937
Non interest expenses:
Salaries and employee benefits			3,577				3,246				7,296				6,452
Occupancy and equipment			312				328				655				646
Advertising and promotion			34				62				74				123
Data processing			803				692				1,556				1,333
Professional services			219				253				432				491
Amortization of intangible assets			228				258				464				522
Foreclosure			-				8				-				8
Other			908				955				1,651				1,835
Total non-interest expenses			6,081				5,802				12,128				11,410
Income before income taxes			8,297				7,036				15,923				13,514
Income tax expense			1,923				1,610				3,678				3,074
Net income			6,374				5,426				12,245				10,440
Preferred stock dividends			313				313				627				627
Net income available to common shareholders		$	6,061			$	5,113			$	11,618			$	9,813
Net income per common share - basic		$	2.09			$	1.78			$	4.02			$	3.42
Net income per common share - diluted		$	1.93			$	1.70			$	3.72			$	3.27
Basic weighted average shares outstanding			2,897,095				2,870,239				2,887,595				2,865,207
Diluted weighted average shares outstanding			3,135,678				3,009,741				3,120,110				3,001,570

Other Data
Return on average assets			1.67	%			1.53	%			1.65	%			1.50	%
Return on average equity			17.52	%			17.04	%			17.05	%			16.68	%
Net interest margin			3.87	%			3.74	%			3.89	%			3.68	%
Allowance for credit losses to loans			0.86	%			0.89	%			0.86	%			0.89	%
Non-performing assets to total assets			0.10	%			0.06	%			0.10	%			0.06	%
Net charge-offs to loans			0.00	%			0.00	%			0.00	%			0.00	%
Efficiency ratio			42.59	%			45.53	%			43.09	%			45.85	%
Non-accrual loans		$	1,520			$	394			$	1,520			$	394
Other real estate owned		$	-			$	411			$	-			$	411
Gain/(loss) on sale of securities		$	-			$	-			$	-			$	-

For more information, contact:

Ted E. Whitehurst, President and CEO
252-467-2990; [e-mail]

SOURCE: PB Financial Corp

View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/pb-financial-corporation-reports-record-second-quarter-2026-earnings-1187441