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LAS VEGAS, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Bitcoin Bancorp, Inc. (OTC: BCBC) (“Bitcoin Bancorp” or the “Company”), a diversified digital asset infrastructure and Banking-as-a-Service (BaaS) development company and holder of foundational U.S. patents related to Bitcoin ATMs, today announced that it has been designated as a successful bidder for certain key assets of Bitcoin Depot Inc. and its affiliated debtors in Chapter 11 proceedings pending before the U.S. Bankruptcy Court for the Southern District of Texas.

Under multiple agreements with Bitcoin Depot, Bitcoin Bancorp is acquiring assets that include approximately 2,446 Bitcoin ATM kiosks, associated floorspace agreements, parts inventory, intellectual property, trademarks, patents, the BitcoinDepot.com domain name and other related digital assets. The transactions were approved by the Bankruptcy Court pursuant to Section 363 of the U. S. Bankruptcy Code, under which the court-approved sales provide for acquired assets to be transferred free and clear of interests in such property, subject to the terms and conditions of the applicable Sale Order(s).

Certain portions of the transactions have already closed, and Bitcoin Bancorp is in the process of taking possession of acquired assets pursuant to the Court’s Sale Orders. Final closings remain subject to customary closing conditions. The Company currently expects the remaining closings to be completed during the upcoming quarter and expects the acquired assets to be reflected in future Company reports.

Bitcoin Depot, founded in 2016, developed into one of North America’s largest Bitcoin ATM operators and among the largest globally. According to Bitcoin Depot Inc.’s Form 10-K for the year ended December 31, 2025, Bitcoin Depot operated approximately 9,700 owned and leased kiosks across 48 U.S. states, 10 Canadian provinces and six Australian states, in addition to its BDCheckout product at approximately 16,300 retail locations. From its inception in July 2016 through December 31, 2025, Bitcoin Depot reported completing more than 4.0 million user transactions representing approximately $3.4 billion in total transaction value.

Bitcoin Bancorp believes the acquired assets could accelerate the expansion of its Bitcoin ATM infrastructure while adding technology, intellectual property and digital brand assets that complement its existing portfolio. The acquired intellectual property is expected to complement Bitcoin Bancorp’s subsidiary’s existing U.S. patents, identified as US9135787B1 and US10332205B1, while the BitcoinDepot.com domain and related digital properties would expand the Company’s online presence and customer reach.

The addition of 2,446 kiosks and related agreements could also provide Bitcoin Bancorp with a more capital-efficient path to expanding its physical infrastructure than deploying an equivalent footprint entirely through organic development. The Company believes this approach could shorten the time required to expand its network while reducing the capital and operational resources that would otherwise be required to build comparable infrastructure from the ground up.

“These transactions represent an important inflection point for Bitcoin Bancorp,” said Eric Noveshen, Executive Vice-President of Bitcoin Bancorp. “Acquiring established Bitcoin ATM infrastructure, intellectual property and digital assets through the bankruptcy process could materially accelerate our business strategy compared with building an equivalent platform entirely through organic expansion. We believe this provides Bitcoin Bancorp with an opportunity to shorten the company’s developmental timeline, the ability to deploy capital more efficiently and strengthen both the scale of the physical network and digital presence as we integrate these assets.”

Bitcoin Bancorp expects the acquired assets, once integrated, to support broader geographic access to Bitcoin ATM services, additional infrastructure for cash-to-Bitcoin transactions, technology and operational improvements, and longer-term product development connecting physical retail infrastructure with digital asset services. The Company intends to maintain its focus on compliant, transparent and user-friendly access to Bitcoin and other digital assets.

While the broader Bitcoin ATM and cryptocurrency industry continues to evolve amid increasing regulatory oversight and industry consolidation, Bitcoin Bancorp continues to believe that those conditions may create opportunities for operators with infrastructure, intellectual property, compliance capabilities and efficient cost structures. The Company intends to continue evaluating opportunities that support scalable Bitcoin ATM infrastructure and complimentary business opportunities while maintaining its focus on regulatory adherence and shareholder value.

About Bitcoin Bancorp, Inc.

Headquartered in Las Vegas, Nevada, Bitcoin Bancorp, Inc. (OTC: BCBC) is a diversified digital asset infrastructure and Banking-as-a-Service (BaaS) company focused on expanding secure retail access to cryptocurrency and next-generation financial services through licensed Bitcoin ATM networks, blockchain technologies, and Web 3.0–enabled platforms. As previously announced, Bitcoin Bancorp, through its wholly owned subsidiary First Bitcoin Capital LLC, owns and exclusively licenses foundational intellectual property related to Bitcoin ATMs, including U.S. Patent Nos. US9135787B1 and US10332205B1. Bitcoin Bancorp owns Bitcoin ATMs that are operated by licensed third-party operators within the jurisdictions in which they reside, forming a growing network of compliant retail access points for digital assets across convenience-store and retail environments. Bitcoin Bancorp is committed to advancing blockchain-enabled financial infrastructure through secure technology platforms, strategic retail partnerships, and responsible operating standards. Bitcoin Bancorp is not licensed as a bank in the United States and does not provide custody or banking services.

Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our OTC Markets’ disclosures, press releases, public conference calls, and webcasts. We also use social media to communicate with our email subscribers and the public about Bitcoin Bancorp, services, and other related information. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in Bitcoin Bancorp to review the information we post on Bitcoin Bancorp’s social media channels listed below. This list may be updated from time to time.

For investor and general information, please email  [email protected]

Join our newsletter and view our Blog at: https://bitcoinbancorp.com/blog/

Follow us at: Website:https://www.BitcoinBancorp.com/X (f/k/a Twitter):@BCBC_stockReddit:https://www.reddit.com/r/BULT/Facebook:https://www.facebook.com/BulletBlockchainInc/Instagram:https://www.instagram.com/bitcoin_bancorp/#LinkedIn:https://www.linkedin.com/in/bitcoin-bancorp-inc/Medium:https://medium.com/@bitcoinbancorp   Find investor and general information at: https://www.otcmarkets.com/stock/BCBC/overview

Forward-Looking Statements: 
This press release contains 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. Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change at some point in the future. However, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “anticipate,” “anticipates,” “believes,” “belief,” “envision,” “expects,” “expect,” “intend,” “plans,” “plan,” to be uncertain and forward-looking. 

Contact us: [email protected]

SOURCE: Bitcoin Bancorp, Inc. f/k/a Bullet Blockchain, Inc.

ANN ARBOR, MI / ACCESS Newswire / September 3, 2026 / University Bancorp, Inc. (OTCQB:UNIB or "UNIB") announced that it had an unaudited net income attributable to University Bancorp, Inc. common stock shareholders in 2Q2026 of $2,350,713, $0.45 per share on average shares outstanding of 5,169,518 for the second quarter of 2026, compared to an unaudited net loss of $2,015,771, $0.39 per share on average shares outstanding of 5,169,518 for 2Q2025. On a fully diluted basis, net income per share in 2Q2026 was $0.36. There were no dilutive instruments outstanding in 2Q2025.

For the six months ended June 30, 2026, net income was $11,255,597, $2.18 per share on average shares outstanding of 5,169,518 for the period, compared to $1,784,600, $0.35 per share on average shares outstanding of 5,169,518 for the six months ended June 30, 2025. On a fully diluted basis, net income per share in 1H2026 was $1.74. There were no dilutive instruments outstanding in 1H2025.

Shareholders' equity attributable to University Bancorp, Inc. common stock shareholders was $109,844,993 or $21.25 per share, based on shares outstanding at June 30, 2026, of 5,169,518, and $20.80 per share, on a fully diluted basis, based on 6,481,854 fully diluted shares outstanding.

Return on equity (ROE) at University Bancorp in 2Q2026 annualized was 12.3%, despite mortgage originations nationwide continuing to be at 30-year lows with respect to units originated. The annualized ROE for the TTM ended June 30, 2026, was 19.9% on initial shareholders' equity of $93,132,755 at June 30, 2025."

Year to date earnings in 2026 were assisted by two major factors, partially offset by one factor, that had an overall net positive impact of $5,839,445 before taxes as follows:

Mortgage Servicing Rights Valuation adjustment - With the rise in long-term mortgage interest rates during the year, the valuation of our MSRs increased $4.2M and $1.1M at 2Q2026 and 1Q2026, respectively.

Mortgage Origination Pipeline Valuation adjustment - The fair market value of the hedged mortgage origination pipeline rose as the value of locked loans rose over the prior quarter by $431,338 and $366,797 at 2Q2026 and 1Q2026, respectively.

Allowance for Loan Losses adjustment - The Allowance for Loan Losses increased from the prior quarter by $157,343 and $32,205 at 2Q2026 and 1Q2026, respectively.

Overall, our business development efforts and growth continue. For example, during 2Q2026:

On April 1, 2026, we closed on the acquisition of a faith-based mortgage company competitor to UIF, American Finance House Lariba, and the acquisition was successfully integrated into our faith-based subsidiary, UIF. UIF is a wholly owned subsidiary of University Bank.

On July 1, 2026, UNIB acquired 100% of Greater Pacific Bancshares and Bank of Whittier, NA. for a purchase price of $37.2 million of which 48% was paid in cash and the remainder paid in Notes. This acquisition provides many opportunities for expanded ability to provide faith-based financing (home, commercial real estate, vehicle) and deposits (FDIC-insured time, savings, checking and tax advantaged IRA deposit accounts). UNIB anticipates that the transaction will be accretive to earnings per share over time, and with the residential servicing transferred to Midwest Loan Services, a division of University Bank, currently targeted for November 1st, we anticipate achieving significant economies of scale. The key financial terms of the transaction are available at this link: https://www.university-bank.com/wp-content/uploads/2025/12/press-189-Supplement.pdf.

Faith-based deposits have grown to $208.3 million at June 30, 2026, and include a new product that enables the automatic sweep of idle balances in customer accounts at brokerage firms into and out of our faith-based deposit products, which is accelerating deposit growth.

University Bank is now licensed for conventional mortgage lending and home equity lending in all 50 states. After completing the rollout of our 1st Mortgage HELOC program in all 47 states where we intend to introduce the product, volumes are accelerating. We are now working on rolling out a fixed home equity second mortgage lending program tied to an industry standard credit box in 47 states, with the loans being sold to the secondary market and subserviced by our Midwest Loan Services division.

At June 30, 2026, cash & equity investment securities at UNIB, available to meet working capital needs and to support investment opportunities at UNIB were $56.1 million. UNIB also has available a $12.5 million line of credit with a balance due of $0 at June 30, 2026.

A portion of UNIB's working capital, $34.8 million (at market value), has been invested in a portfolio of publicly traded investments concentrated in four large investments. The four largest investments at June 30, 2026, were:

Currency Exchange International (Symbol CURN), a company that specializes in foreign exchange, of which we now own 762,339 shares, 12.93% of the currently outstanding shares of common stock, at an average cost of $13.38 per share.

Pulsar Helium (Symbol PSRHF), of which we now own 10,444,811 shares, 4.87% of the currently outstanding shares of common stock, at an average cost of $0.602 per share.

A $5,000,000 investment in Silver, via futures contracts, at a cost of $61.45 per ounce. In addition to this core position, we recently booked a $750,000 profit on the sale of a $2,000,000 leveraged position long a Silver ETF when Silver was $71 per ounce.

A portfolio of put options on the following indices: S&P500, KRE (S&P 500 Banks) & XLF (S&P 500 Banks, Shadow Banks, Insurance Companies & REITs), and one large regional bank. UNIB's put option portfolio was worth $2.7 million at June 30, 2026.

Other Key statistics as of June 30, 2026:

1-year annual revenue growth*,

13.74

%

10-year annual average revenue growth*

22.83

%

TTM Revenue%

$

143,276,935

1 Year ROE

11.30

%

10 Year Average ROE

24.51

%

LLR/NPAs>90 days

53.93

%

Debt to equity ratio,

24.2

%

Current Ratio,#

5.51

Efficiency Ratio, %+

85.20

%

Average Assets, University Bank

$

959,827,000

Loans Held for Sale, fair value,

$

94,597,933

NPAs >90 days

$

4,445,116

TTM ROA %

1.63

%

Tier 1 Capital Ratio %

10.40

%

NPAs/Assets %

0.36

%

Texas Ratio %

8.40

%

NIM %

4.12

%

NCOs/Loans %

0.01

%

Trailing 12 Months P-E Ratio x

6.3

Price/Book Value Ratio x

106.3

%

%Does not include the TTM revenue from Bank of Whittier, N.A., acquired on 7/1/2026.

#Parent company only current assets divided by 12-month projected cash expenses.

+Calculated as: (non-interest expense/ (net interest income + non-interest income)).

xBased on last sale of $22.02 per share.

Excluding $546,658 of goodwill & other intangibles related to the acquisition of Ann Arbor Insurance Center, net tangible shareholders' equity attributable to University Bancorp, Inc. common stock shareholders was $109,298,335 or $21.14 per share (and $134,298,355 or $20.72 on a fully diluted basis) at June 30, 2026. Please note that we view the current market values of our insurance agency as being substantially in excess of their carrying value including this goodwill.

Shareholders and investors are encouraged to refer to the financial information including the investor presentations, audited financial statements, strategic plan and prior press releases, available on our investor relations web page at: http://www.university-bank.com/bancorp/.

A detailed income statement, balance sheet and other financial information for UNIB and University Bank as of June 30, 2026, will be available here: https://www.university-bank.com/bancorp-financial-statements/.

University Bank's FDIC Quarterly Call Report, with substantial additional information including loan origination, loan investment composition, delinquency ratios and Tier 1 Capital ratios for June 30, 2026, is available here: https://cdr.ffiec.gov/public/ManageFacsimiles.aspx

About UNIB

Ann Arbor-based University Bancorp is a Federal Reserve regulated financial holding company that owns:

100% of University Bank, a bank based in Ann Arbor, Michigan;

100% of Bank of Whittier, N.A., a faith-based bank based in Whittier, California;

100% of Crescent Assurance, PCC, a captive insurance company licensed in Washington DC; and

100% of Hyrex Servicing, a master mortgage servicing firm, based in Ann Arbor, Michigan.

University Bank together with its Michigan-based subsidiaries holds and manages a total of over $36 billion in financial assets for over 185,000 customers, and our 544 employees make us the 5th largest bank based in Michigan. University Bank is an FDIC-insured, locally owned and managed community bank, and meets the financial needs of its community through its quality, creative and innovative services. Founded in 1890, University Bank® is the 15th oldest bank headquartered in Michigan. We are proud to have been selected as the "Community Bankers of the Year" by American Banker magazine and as the recipient of the American Bankers Association's Community Bank Award. University Bank is a Member FDIC. The members of University Bank's corporate family, ranked by their size of revenues are:

UIF, a faith-based banking firm based in Southfield, MI;

University Lending Group, a retail residential mortgage originator based in Clinton Township, MI;

Midwest Loan Services, a residential mortgage subservicer based in Houghton, MI;

Community Banking, based in Ann Arbor, MI, which provides traditional community banking services and wealth management;

Ann Arbor Insurance Centre, an independent insurance agency based in Ann Arbor, MI.

Mortgage Warehouse Lending, a mortgage warehouse lender based in Southfield, MI.

CAUTIONARY STATEMENT: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in assets, future profitability, efficiencies and economies of scale from the merger, the sustainability of past results, future products, valuations, economic, market or industry conditions, and other expectations and/or goals. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting our operations, markets, products, services, interest rates and fees for services, or the operations of companies that we invest in. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update any information or forward-looking statement.

Contact: Stephen Lange Ranzini, President and CEO
Phone: 734-741-5858, Ext. 9226
Email: [email protected]

###

SOURCE: University Bancorp, Inc.

Bancorp Today

$65.78 +1.43 (+2.22%)

As of 10:31 AM Eastern

This is a fair market value price provided by Massive. Learn more.

$50.20▼

$81.6512.34

$71.17

The Bancorp, Inc. NASDAQ: TBBK has spent the past two years working to live down a credibility crisis, and its latest quarter suggests it is largely succeeding.

The company hit a rough patch in early 2024 when a short seller questioned its financial results.

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A year later, The Bancorp announced an accounting restatement tied to its real estate bridge lending book.

But the stock has since clawed its way back, and analysts have maintained a positive outlook.

With a moderate upside to its shares and consumer spending still going strong, investors now need to ask how much further this bank has to grow.

Powering Fintech Behind the ScenesEven though The Bancorp is a bank, it has no branches and no household brand name. Instead, it operates behind the scenes as one of the country's largest "banking-as-a-service" sponsors.

The company holds deposits and issues cards so fintech apps can act like banks without becoming one, such as for Chime NASDAQ: CHYM, PayPal NASDAQ: PYPL and Cash App from Block NYSE: XYZ. In fact, the company this year was listed as the top issuer of prepaid cards and the sixth-largest issuer of debit cards in the United States.

Fintech Growth Drives Stronger EarningsThe Bancorp is now working to confirm that the issues of the past two years are well behind it. The second quarter gave the bulls plenty to work with. Bancorp reported diluted earnings per share of $1.45, up 14.2% from $1.27 a year earlier and comfortably ahead of the $1.36 Wall Street had modeled.

Consolidated net income came in at $60.7 million, return on equity hit 34.7%, up from 28.4% in the year-ago quarter. The efficiency ratio, a measure of how much it costs the bank to generate a dollar of revenue, held relatively steady at a lean 41%. The bank also posted a return on assets of an impressively high 2.51% for the quarter.

Growth is coming squarely from the fintech side of the business. Gross dollar volume moving across Bancorp's partner programs rose 22.5% year-over-year to $53.45 billion, and total fintech fee income climbed to $40.9 million from $35.6 million. Fintech loans now amount to $901.5 million, up from $680.5 million a year earlier.

Shares Rebound From Recent WeaknessThese numbers were a positive signal for a bank that has had a rocky journey the past couple of years. Although the stock is down roughly 4% since the start of the year, it has gained more than 18% in just the past three months. That is still a far cry from its 52-week high of $81.65 per share, achieved before issuing disappointing earnings for last year’s third quarter.

The Bancorp, Inc. (TBBK) Price Chart for Wednesday, September, 2, 2026

The company was also hit with difficult news in recent years. In March 2024, short seller Culper Research accused Bancorp of understating losses in its real estate bridge lending portfolio and holding reserves it called grossly inadequate.

A year later, the company disclosed that investors could no longer rely on its 2022 through 2024 financial statements because of accounting issues tied to consumer fintech loan losses, triggering a securities class action lawsuit that remains pending.

Credit Concerns Continue to EaseThe latest report, however, showed that the story that scared investors most in 2024 has flipped in Bancorp's favor. Total criticized loans, or those being watched for potential problems, fell to $146.7 million from $305.2 million a year earlier. In particular, the real estate bridge loans at the center of the earlier controversy dropped $169.6 million from the second quarter of 2025.

At the same time, management raised full-year 2026 earnings guidance to a range of $5.95 to $6.05 per share and reiterated 2027 guidance of $8.10 to $8.30.

Buybacks Return Capital to ShareholdersIn addition, though the company does not pay a dividend, management has said it intends to keep returning close to 100% of net income to shareholders through buybacks, another way to boost per-share growth.

Bancorp repurchased $50 million of stock in the second quarter, representing about 2% of outstanding shares. It has bought back $403.6 million worth of shares since mid-2025, shrinking its share count to about 41 million.

Analysts See More Upside AheadWall Street today is generally optimistic. Seven brokerages now cover the stock with a consensus rating of Moderate Buy and an average price target near $71.17, implying an upside of abaout 10%.

Overall, four analysts rate the stock a Buy, one has it listed as a Strong Buy, and two suggest a Hold. The highest 12-month target price is $88 per share, while the lowest is $57. Several analysts have raised their targets in recent weeks, citing improving credit trends and fintech growth, while others have reiterated their Outperform or Buy recommendations.

Strong Fundamentals Come With RisksTaken as a whole, Bancorp's fundamentals stand on their own. The bank has double-digit earnings growth, accelerating fintech fee income, criticized loans down by more than half, and management raising guidance. A shrinking share count also benefits investors.

The risk, however, is that much of that good news is already reflected in the stock's trading. Bancorp also depends heavily on a small number of large fintech partners for deposits and fees, and losing even one, or seeing a partner pursue its own banking charter, could dent results quickly.

Investors comfortable with volatility might look to The Bancorp for its growth and buyback story. The company appears to be moving in the right direction, but the question is whether that direction will include more bumps on the way.

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BETHLEHEM, Pa., Aug. 25, 2026 (GLOBE NEWSWIRE) -- On August 13, 2026, Embassy Bancorp, Inc. (OTCQX: EMYB) (the “Company”) filed its Quarterly Report on Form 10-Q for the period ended June 30, 2026, a copy of which can be found at https://investors.embassybank.com/sec-filings/documents/default.aspx.

Highlights of the filing, which includes consolidated financial information of the Company and Embassy Bank For the Lehigh Valley (the “Bank”), the Company’s wholly owned subsidiary, include:

Cash and cash equivalents on hand of $132.9 million at June 30, 2026, or 7.2% of total assets.Deposits of $1.69 billion at June 30, 2026, an increase of $53.4 million from $1.64 billion at December 31, 2025. The Company does not have any brokered deposits.There were no short-term or long-term borrowings outstanding as of June 30, 2026 or required during the quarter then ended.Bank net interest margin (FTE) increased to 2.69% for the quarter ended June 30, 2026, up from 2.43% for the quarter ended June 30, 2025.Bank return on average assets of 0.91% and Bank return on average equity of 13.63% for the quarter ended June 30, 2026.Bank cost of funds of 1.68% for the quarter ended June 30, 2026, down from 1.81% for the quarter ended June 30, 2025. This is compared to a Pennsylvania peer group (stock banks headquartered in Pennsylvania with assets between $100 million and $5 billion) cost of funds of 1.89% for the quarter ended June 30, 2026.Bank assets per employee of $15.2 million at June 30, 2026, compared to the Pennsylvania peer group assets per employee of $8.0 million.Bank noncurrent loans to total loans of only 0.05% as of June 30, 2026, compared to the Pennsylvania peer group total of 0.76%.Declared an annual cash dividend of $0.55 per share to shareholders during the quarter ended June 30, 2026. This is an increase from the $0.48 per share annual cash dividend declared during the quarter ended June 30, 2025.Net income of $4.1 million and $7.9 million, or $0.56 and $1.05 per diluted share, for the three and six months ended June 30, 2026, respectively, up from $3.4 million and $6.3 million, or $0.45 and $0.83 per diluted share, for the prior year three and six months ended June 30, 2025, respectively. About Embassy Bancorp, Inc.

Embassy Bancorp, Inc., with over $1.8 billion in assets, is the parent company of Embassy Bank For the Lehigh Valley, a full-service community bank that has served Pennsylvania’s Lehigh Valley since 2001. With ten branch locations and a comprehensive suite of digital banking services, Embassy Bank remains committed to providing exceptional financial solutions to the community.

Embassy Bank was recently named the Lehigh Valley’s “Best Bank & Mortgage Company” for the fifth consecutive year by the Who’s Who in Business survey published in Lehigh Valley Style magazine. The Bank also ranks fourth in deposit market share across Lehigh and Northampton Counties as of June 2025, earned The Morning Call’s “Best Bank” designation in 2025, and continues to hold a 5-Star Bauer Financial rating, reflecting its strong performance and long-standing stability.

For more information, visit www.embassybank.com.

Safe Harbor for Forward-Looking Statements

This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the company’s business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; difficulties in integrating distinct business operations, including information technology difficulties; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Embassy Bancorp, Inc.’s filings with the U.S. Securities and Exchange Commission (SEC). The statements are valid only as of the date hereof and Embassy Bancorp, Inc. disclaims any obligation to update this information.

Contact:
David M. Lobach, Jr.
Chairman, President and CEO
(610) 882-8800

Wednesday, 05 August 2026 07:30 PM

Topic: 

Earnings SANTA ANA, CA / ACCESS Newswire / August 5, 2026 / Infinity Bancorp (OTCQB:INFT) (the "Company" or "Bancorp"), the holding company for Infinity Bank (the "Bank"), today announced financial results for the quarter ended, June 30, 2026.

Financial highlights for the second quarter of 2026:

Net income was $1.4 million for the second quarter, a 6.2% increase over the first quarter of 2026

A cash dividend of $0.10 per share was paid to shareholders during the second quarter of 2026

Loans increased $31.4 million or 14% during the second quarter

Loans and Allowance for Credit Losses

Total loans were $255.1 million at June 30, 2026, compared to $223.7 million for the first quarter of 2026, an increase of $31.4 million, or 14.1%. When compared to the fourth quarter of 2025, total loans increased $25.4 million, or 11.0%. The Bank funded $46.3 million in new loans/advances in the second quarter of 2026. The fundings were offset by $14.9 million in payoffs, most of which were expected based on the contractual terms of the loans. The increase in loans caused the Bank's loan deposit ratio to increase to 82.5% as of June 30, 2026, from 65.2% as of March 31, 2026, and from 76.0% a year ago.

In order to maintain the Bank's Allowance for Credit Losses (ACL) at its current level, as a percentage of total loans, the Bank made an additional provision to the ACL of $205 thousand during the second quarter of 2026. The Bank recorded $204 thousand in net charge-offs during the quarter ended March 31, 2026. At the time of the charge-offs the necessary reserves had already been established in the Bank's ACL. There were no charge-offs for the second quarter of 2026. The Bank's ACL at 1.51% decreased from 1.63% when compared to the previous quarter.

Yields on total loans decreased to 8.34% during the second quarter of 2026, compared to 8.59% from first quarter of 2026 and decreased from 8.96% in the second quarter, 2025. For the six months ended June 30, 2026, yield on loans decreased to 8.46% compared to 8.93% for the same period in 2025. The decrease in yields from 2025 was due to 75 basis point reduction in the federal funds rates that were approved by the Federal Open Market Committee in the third and fourth quarters of 2025 as well as fluctuations with the mix of the portfolio.

Deposits and Borrowed Funds

Total deposits equaled $309.5 million at June 30, 2026, a decrease of $33.8 million, or (9.8%) from the first quarter of 2026, and an increase of $7.1 million, or 2.3% from December 31, 2025. Non-interest-bearing demand accounts increased $5.1 million, or 3.0% to $176.0 million as of June 30, 2026, and comprise 57.0% of total deposits. Non-interest-bearing demand accounts increased $2.6 million, or 1.5% when compared to December 31, 2025. Interest-bearing deposits decreased by $38.9 million, or (22.6%) when compared to first quarter of 2026 and increased $4.4 million, or 3.5% when compared to December 31, 2025. The changes in deposits were generally related to normal shifts in customer deposits.

The Company did not have any Federal Home Loan Bank (FHLB) or other borrowings at June 30, 2026, or March 31, 2026, decreasing from $5 million in overnight borrowings at December 31, 2025.

The Company's cost of funds was down to 1.28% for the quarter ended June 30, 2026, compared to 1.30% from the previous linked quarter and down from 1.58% for the same quarter last year. For the six months ended June 30, 2026, the cost of funds decreased to 1.29% from 1.65% for the same period in 2025. Cost of funds decreased in response to decreases in the federal funds rate in 2025.

Net-interest Income

Net-interest income for the second quarter of 2026 was $4.9 million, a slight increase of $33 thousand, or 0.7% from the first quarter of 2026 and an increase of $172 thousand, or 3.7% over the second quarter of 2025. For the six-months ended June 30, 2026, net-interest income was $9.7 million, an increase of $471 thousand, or 5.1% from the same period in 2025.

The Company's net interest margin for the second quarter of 2026 was up 16 basis points to 5.84% when compared to first quarter ended March 31, 2026, and down 9 basis points from 5.93% for the comparable period ended June 30, 2025. The net interest margin for the six months ended June 30, 2026, decreased to 5.76% compared to 5.86% for the same period in 2025. The change in the net interest margin from period to period is due to fluctuations in the mix of both loans and deposits as well as changes in rates related to three 25 basis point rate cuts implemented by the Federal Reserve from September through December 2025. The Company's primary source of net-interest income continues to be driven by interest on loans followed by other short-term investments.

Non-interest Income

For the second quarter of 2026, non-interest income totaled $174 thousand, an increase of $38 thousand, or 27.9% when compared to the previous quarter and from same period in 2025. For the six-months ended June 30, 2026, non-interest income totaled $310 thousand, up $61 thousand, or 24.5% from linked period in 2025. Non-interest income continues to be driven primarily by fees on loans and deposit accounts.

Non-interest Expense

For the second quarter of 2026, non-interest expense totaled $2.9 million, a decrease of $46 thousand, or (1.6%) from the first quarter of 2026 and a decrease of $56 thousand, or (1.9%) when compared to same quarter in 2025. For the six-months ended June 30, 2026, non-interest expense increased $186 thousand, or 3.3%, to $5.8 million from linked period in 2025. The increase for the six-month period was driven primarily by inflation. The Company's efficiency ratio equaled 57.1% for the quarter ended June 30, 2026, compared to 58.8% at March 31, 2026, and 60.7% for the same quarter in 2025. The efficiency ratio for the six months ended June 30, 2026, was 57.9% compared to 59.2% for the same period in 2025.

Net Income

For the second quarter of 2026 the Company's net income increased $79 thousand to $1.4 million, or $0.43 basic earnings per share compared to $1.3 million, or $0.41 basic earnings per share for the first quarter of 2026. When compared to the second quarter of 2025, profitability was relatively the same at $1.4 million, or $0.44 basic earnings per share. For the six months ended June 30, 2026, net income was relatively flat at $2.6 million, or $0.84 basic earnings per share, compared to $2.6 million, or $0.83 basic earnings per share for the first six months of 2025. The increase in profitability is directly tied to the increases in net interest margin as discussed above.

The return on average assets increased 12 basis points to 1.60% for the second quarter of 2026 as compared to 1.48% for the first quarter of 2026 and decreased 11 basis points from 1.71% for the second quarter of 2025. For the six months ended June 30, 2026, the return on average assets decreased 9 basis points to 1.54% from 1.63% for the same period in 2025.

The return on average equity for the second quarter of 2026 was 12.44%, up 34 basis points from 12.10% for the first quarter of 2026 and decreased 169 basis points from 14.13% for the second quarter of 2025. For the six months ended June 30, 2026, the return on average equity decreased 134 basis points to 12.21% from 13.55% for the same period in 2025.

Capital Management and Subsequent Event

The Company continues to be well-capitalized and exceeds minimum regulatory requirement ratios with a tier 1 leverage ratio of 13.03%, tier 1 risk-based capital ratio of 15.31%, and a total risk-based capital ratio of 17.94%.

On July 30, 2026, the Company declared a $0.10 cash dividend to shareholders of record as of August 14, 2026, payable on August 28, 2026.

The book value of the Company's common stock was $14.18 as of June 30, 2026, up from $13.82 as of March 31, 2026, and up from $12.68 at June 30, 2025. The increase in the book value of the Company's common stock is primarily related to the additional income recorded in the quarter and six months ended June 30, 2026, as well as the continued decrease in the unrealized loss on investment securities. The investment portfolio consists entirely of government agency or government sponsored enterprise securities and therefore, the risk of incurring an actual loss is unmeasurably low. Although the Company holds its investment securities ("securities") as available for sale, we do not have the intent to sell any securities at this time. These securities are pledged to the Federal Home Loan Bank and provide the Company with liquidity by allowing us to borrow approximately 95% of the fair market value of the portfolio. Also, the securities are amortizing, which provides the Company with additional liquidity of approximately $650 thousand in monthly payments that are reinvested in higher yielding assets. As of June 30, 2026, the portfolio has an average life of 2.5 years.

ABOUT INFINITY BANCORP AND INFINITY BANK

Infinity Bank is the sole subsidiary of Infinity Bancorp. Infinity Bancorp, formed on October 21, 2022, is the bank holding company for Infinity Bank. The Bancorp does not have any operations other than through its sole subsidiary, Infinity Bank. The Bank is a community bank that commenced operations in February 2018. The Bank is focused on serving the banking needs of commercial businesses, professional service entities, their owners, employees, and families. The Bank offers a broad selection of depository products and services as well as business loan and commercial real estate financing products uniquely designed for each client. For more information about Infinity Bank and its services, please visit the website at www.infinity.bank

This news release contains a number of 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 (the "Exchange Act"). These statements may be identified by use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions. Forward-looking statements are based upon various assumptions and analyses made by the Bancorp (which includes the Bank) considering management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guaranteeing future performance and are subject to risks, uncertainties, and other factors (many of which are beyond the Bancorp's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect the Bancorp's results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Bancorp's control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may reduce interest margins; changes in deposit flows, loan demand or real estate values may adversely affect the business of the Bancorp; unanticipated or significant increases in loan losses; changes in accounting principles, policies or guidelines may cause the Bancorp's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Bancorp's financial condition or results of operations; general economic conditions, either nationally or locally in some or all areas in which the Bancorp conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Bancorp currently anticipates; legislation or regulatory changes may adversely affect the Bancorp's business; technological changes may be more difficult or expensive than the Bancorp anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Bancorp anticipates; or litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Bancorp anticipates.

6 Hutton Centre Drive, Suite 100
Santa Ana, CA 92707

Bala Balkrishna

Victor Guerrero

Allison Duncan

CEO

President, COO

CFO

Phone: (657) 223-1000

Phone: (562) 631-3042

Phone: (657) 304-2378

[email protected]

[email protected]

[email protected]

INFINITY BANCORP
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands)

June 30,
2026

March 31,
2026

December 31,
2025

ASSETS:

Cash and due from banks

$

78,815

$

141,924

$

97,077

Securities available for sale

23,724

25,476

27,106

Total Loans

255,149

223,710

229,790

Allowance for credit losses

(3,853

)

(3,648

)

(3,639

)

Net Loans

251,296

220,062

226,151

Premises and equipment, net

1,069

1,129

1,189

Other assets

4,604

4,309

4,464

TOTAL ASSETS

$

359,508

$

392,900

$

355,987

LIABILITIES

Deposits:

Non-interest bearing

$

175,983

$

170,890

$

173,357

Interest bearing

133,490

172,384

129,044

Total deposits

309,473

343,274

302,401

Other liabilities

2,005

2,192

2,290

FHLB and other borrowings

-

-

5,000

Subordinated debt

3,994

3,989

3,984

TOTAL LIABILITIES

315,472

349,455

313,675

Stockholders' Equity:

Common stock

33,198

33,698

33,537

Retained earnings (Accumulated deficit)

9,723

10,037

4,956

Net income

2,639

1,280

5,364

Accumulated other comprehensive gain (loss)

(1,524

)

(1,570

)

(1,545

)

TOTAL STOCKHOLDERS' EQUITY

44,036

43,445

42,312

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

359,508

$

392,900

$

355,987

INFINITY BANCORP
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands)

For the Three Months Ended

For the Six Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

June 30,
2026

June 30,
2025

Interest Income:

Loans

$

5,136

$

4,844

$

4,993

$

9,980

$

9,973

Investment securities

90

139

129

229

262

Other short-term investments

570

814

669

1,384

1,279

Total interest income

5,796

5,797

5,791

11,593

11,514

Interest expense:

Deposits

894

927

1,002

1,821

2,096

Borrowed funds

47

48

106

95

212

Total interest expense

941

975

1,108

1,916

2,308

Net interest income

4,855

4,822

4,683

9,677

9,206

Provision for credit losses

205

213

(74

)

418

146

Net interest income after provision for credit losses

4,650

4,609

4,757

9,259

9,060

Non-interest income:

Service charges

115

89

83

204

152

Other income

59

47

53

106

97

Total non-interest income

174

136

136

310

249

Non-interest expense:

Salaries and employee benefits

2,054

2,048

2,138

4,102

4,138

Occupancy

66

63

61

129

122

Furniture, fixture & equipment

24

34

41

58

77

Data processing

160

154

153

314

283

Professional & legal

191

162

128

353

276

Marketing

76

53

59

129

121

Other expense

298

401

345

699

581

Total non-interest expense

2,869

2,915

2,925

5,784

5,598

Income before taxes

1,955

1,830

1,968

3,785

3,711

Income tax expense

596

550

594

1,146

1,116

Net Income

$

1,359

$

1,280

$

1,374

$

2,639

$

2,595

Earnings per share ("EPS"): Basic

$

0.43

$

0.41

$

0.44

$

0.84

$

0.83

Earnings per share ("EPS"): Dilutive

$

0.39

$

0.38

$

0.43

$

0.77

$

0.82

Common shares outstanding

3,105,141

3,144,641

$

3,131,015

3,105,141

3,131,015

INFINITY BANCORP
UNAUDITED CONSOLIDATED FINANCIAL HIGHLIGHTS

At and For the Three Months Ended

At and For the Six Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

June 30,
2026

June 30,
2025

Performance Ratios:

Net interest margin

5.84

%

5.68

%

5.93

%

5.76

%

5.86

%

Cost of funds

1.28

%

1.30

%

1.58

%

1.29

%

1.65

%

Loan to deposit ratio

82.45

%

65.17

%

76.02

%

82.45

%

76.02

%

Yield on total loans

8.34

%

8.59

%

8.96

%

8.46

%

8.93

%

Return on average assets

1.60

%

1.48

%

1.71

%

1.54

%

1.63

%

Return on average equity

12.44

%

12.10

%

14.13

%

12.21

%

13.55

%

Efficiency ratio

57.05

%

58.79

%

60.68

%

57.92

%

59.21

%

Book value of common stock

$

14.18

$

13.82

$

12.68

Asset Quality Summary:

Allowance for credit losses/Total loans

1.51

%

1.63

%

1.63

%

1.51

%

1.63

%

Capital Ratios:

Tier 1 risk-based capital ratio

15.31

%

16.67

%

16.67

%

15.31

%

16.67

%

Total risk-based capital ratio

17.94

%

19.42

%

19.53

%

17.94

%

19.53

%

Tier 1 leverage ratio

13.03

%

12.67

%

12.69

%

13.03

%

12.69

%

SOURCE: Infinity Bank Santa Ana California

BAYONNE, N.J., Aug. 03, 2026 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported a net loss of $14.8 million for the second quarter of 2026, compared to net income of $4.9 million in the first quarter of 2026, and net income of $3.6 million for the second quarter of 2025. The Company’s loss per diluted share for the second quarter was ($0.85) compared to earnings per diluted share of $0.26 in the preceding quarter and $0.18 in the second quarter of 2025. The Company’s reported net loss for the six months ended June 30, 2026 was $9.9 million, compared to a net loss of $4.8 million for the six months ended June 30, 2025. The Company’s loss per diluted share for the six months ended June 30, 2026 was ($0.60) compared to a loss per diluted share of ($0.33) for the six months ended June 30, 2025.

Executive Summary

Total deposits were $2.636 billion at June 30, 2026, compared to $2.672 billion at March 31, 2026.Net interest margin was 3.03 percent for the second quarter of 2026, compared to 2.95 percent for the first quarter of 2026, and 2.80 percent for the second quarter of 2025. Total yield on interest-earning assets was 5.25 percent for the second quarter of 2026, compared to 5.21 percent for the first quarter of 2026, and 5.24 percent for the second quarter of 2025. Total cost of interest-bearing liabilities decreased 6 basis points to 2.87 percent for the second quarter of 2026, compared to 2.93 percent for the first quarter of 2026, and decreased 29 basis points from 3.16 percent for the second quarter of 2025.The efficiency ratio for the second quarter was 96.8 percent compared to 62.4 percent in the prior quarter, and 60.6 percent in the second quarter of 2025.The annualized return on average assets ratio for the second quarter was (1.83) percent, compared to 0.61 percent in the prior quarter, and 0.42 percent in the second quarter of 2025.The annualized return on average equity ratio for the second quarter was (19.22) percent, compared to 6.50 percent in the prior quarter, and 4.55 percent in the second quarter of 2025.The provision for credit losses was $19.0 million in the second quarter of 2026 compared to $2.8 million for the first quarter of 2026. In the second quarter of 2025, the Bank recorded a provision of $4.9 million.Total criticized and classified loans was $367.4 million in the second quarter compared to $403.0 million at March 31, 2026.The allowance for credit losses on loans as a percentage of non-accrual loans was 62.5 percent at June 30, 2026, compared to 54.5 percent for the prior quarter-end and 49.8 percent at June 30, 2025. Total non-accrual loans were $72.0 million at June 30, 2026, $59.8 million at March 31, 2026 and $101.8 million at June 30, 2025.Total loans receivable, net of the allowance for credit losses on loans, of $2.588 billion at June 30, 2026, decreased from $2.860 billion at June 30, 2025.
The net loss for the second quarter of 2026 was primarily driven by a $19.0 million provision for credit losses on loans, a $5.3 million non-cash goodwill impairment charge, and a $2.6 million loss on a loan transferred to held-for-sale. The elevated provision reflects additional reserves established for the Business Express loan portfolio and other portions of the Commercial and Industrial (“C&I”) loan portfolio, which has continued to experience elevated net charge-offs. Management determined that a higher reserve level was prudent given the portfolio’s performance trends, taking into account the early results of a recently commenced evaluation of the Bank’s loan portfolio focusing on potential problem loans. The goodwill impairment charge resulted from an interim quantitative impairment assessment triggered by the Company’s significant quarterly loss and the continued trading of its stock at a substantial discount to book value. The non-cash charge fully impaired the goodwill recorded on its balance sheet. The loss on the loan transferred to held-for-sale is consistent with management’s overall balance sheet evaluation strategy and relates to a non-accrual construction loan expected to be sold during the third quarter.

“We are actively conducting a comprehensive review of the Bank’s loan portfolio with the assistance of independent consultants as part of our broader effort to strengthen the balance sheet and position the franchise for long-term success. It is too early in our evaluation to assess whether and to what extent additional loans, not captured in the second quarter results, may be impacted. While we remain focused on delivering sustainable operating performance, our immediate priority is to maintain disciplined balance sheet management and long-term value creation. As our evaluation continues in the third quarter, we will fully explore various alternatives to strengthen the credits or exit the relationships, which may include workouts and loan restructurings, such as potentially seeking additional collateral, interest rate adjustments, as well as select loan sales. In addition, the Bank has ceased originating residential mortgage, home equity, and consumer loans, as we believe the current risk-adjusted returns in these categories are not sufficiently attractive. At June 30, 2026, our capital remains above well capitalized. To help preserve capital at the bank and liquidity at the holding company, the board of directors agreed to suspend both common and preferred dividends at their June meeting. We have taken these steps that are focused on capital preservation to support our balance sheet strengthening initiatives and reinforce our commitment to building a safer, stronger, and more resilient institution.” said Tom O’Brien, President and Chief Executive Officer of the Company and the Bank.

Reincorporation in Delaware

The Company also announced today that the board has decided to change its state of incorporation to Delaware, and to end the current staggered board terms in favor of annual director elections. Mr. O’Brien noted: “the change to Delaware will align us with the vast majority of public companies and allows for updated governance provisions that will help place our company in line with prevailing public company governance practices. Later this quarter, we will call a special meeting of shareholders to be held late this year. The purpose of the meeting will be to seek shareholder approval to reincorporate in Delaware. The full presentation of these governance changes will be provided in a proxy statement in connection with the special meeting.”

Balance Sheet Review

Total assets decreased by $161.3 million, or 4.9 percent, to $3.118 billion at June 30, 2026, from $3.279 billion at December 31, 2025. The decrease in total assets was mainly related to a decrease in net loans and cash and cash equivalents, offset by an increase in debt securities.

Total cash and cash equivalents decreased by $79.7 million, or 28.8 percent, to $196.9 million at June 30, 2026, from $276.6 million at December 31, 2025. The decrease in cash was primarily due to the reduction of the Bank’s exposure to wholesale funding by paying down high cost brokered deposits and FHLB advances.

Loans receivable, net, decreased by $103.1 million, or 3.8 percent, to $2.588 billion at June 30, 2026, from $2.691 billion at December 31, 2025, due to loan payoffs, paydowns and charge-offs. Total loan decreases during the period included decreases of $35.2 million in construction loans, $30.9 million in commercial and multi-family loans, $10.9 million in commercial business loans, $5.9 million in business express loans, and $8.0 million in 1-4 family residential loans, and $679,000 in cannabis, home equity and consumer loans.

The allowance for credit losses on loans increased $11.3 million to $45.0 million, or 62.5 percent of non-accruing loans and 1.71 percent of gross loans, at June 30, 2026, as compared to an allowance for credit losses on loans of $33.7 million, or 53.3 percent of non-accruing loans and 1.24 percent of gross loans, at December 31, 2025.

Total investment securities increased by $16.7 million, or 12.3 percent, to $152.3 million at June 30, 2026, from $135.6 million at December 31, 2025, representing current year purchases, offset by current year sales.

Deposits decreased by $37.6 million, or 1.4 percent, to $2.636 billion at June 30, 2026, from $2.674 billion at December 31, 2025. Certificates of deposit accounts and savings accounts decreased $45.2 million and $13.1 million, respectively, and were offset by an increase in money market accounts of $20.8 million. Brokered deposits declined by $28.6 million from $80.5 million at December 31, 2025 to $51.9 million at June 30, 2026.

Debt obligations decreased by $109.9 million to $168.3 million at June 30, 2026, from $278.2 million at December 31, 2025, due to maturities and paydowns of FHLB advances. The weighted average interest rate of FHLB advances was 4.88 percent at June 30, 2026, and 4.53 percent at December 31, 2025. The weighted average maturity of FHLB advances as of June 30, 2026, was less than ninety days. The interest rate of the Company’s subordinated debt balances was 9.25 percent at June 30, 2026, and at December 31, 2025.

Stockholders’ equity decreased by $12.4 million, or 4.1 percent, to $291.9 million at June 30, 2026, from $304.3 million at December 31, 2025. The decrease was attributable to the decrease in retained earnings of $13.2 million, or 11.3 percent, to $103.2 million at June 30, 2026, from $116.4 million at December 31, 2025, caused largely by the $9.9 million loss in the first six months of 2026.

Asset Quality

The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 2026, as compared to $59.8 million, or 2.22 percent of gross loans, at March 31, 2026, and $63.3 million, or 2.32 percent of gross loans at December 31, 2025. The Bank had total past due loans totaling $122.8 million, or 4.66 percent of gross loans, at June 30, 2026, as compared to $107.9 million, or 4.01 percent of gross loans, at March 31, 2026, and $99.1 million, or 3.64 percent of gross loans, at December 31, 2025. The Bank had total classified and criticized loans totaling $367.4 million, or 13.94 percent of gross loans, at June 30, 2026, as compared to $403.0 million, or 14.98 percent of gross loans, at March 31, 2026, and $360.0 million, or 13.19 percent of gross loans, at December 31, 2025.

The allowance for credit losses on loans of $45.0 million, as of June 30, 2026, increased by $12.4 million, or 38.1 percent, compared to March 31, 2026, and increased by $11.3 million, or 33.5 percent, compared to December 31, 2025. The $12.4 million increase compared to March 31, 2026 was driven by a $19.0 million increase in provision expense that was partially offset by $6.6 million in loan charge-offs. The increases in provision expenses and charge-offs compared to both periods were primarily attributed to the C&I portfolio that has continued to experience elevated net charge-offs. The C&I portfolio generated net charge-offs of $824 thousand in the first quarter, increasing to $5.8 million in the second quarter. In addition, the Bank determined that a full recovery is no longer expected on a previously charged-off $6.3 million C&I relationship. Reflecting these developments and broader credit trends observed within the C&I portfolio, management separately evaluated the portfolio under its qualitative reserve framework during the second quarter, resulting in a $10.8 million increase to the allowance established for the portfolio.

During the second quarter, the Bank transferred one loan on nonaccrual status to held-for-sale, which was written down to fair market value resulting in a loss of $2.6 million reflected in non-interest income under the line item for net loss on the sale of loans. The remaining carrying value of the loan is $10.8 million. Loans held-for-sale are not included in past due loans or classified loans.

The allowance for credit losses was 62.5 percent of non-accrual loans at June 30, 2026, compared to 54.5 percent of non-accrual loans at March 31, 2026, and 53.3 percent of non-accrual loans at December 31, 2025, respectively.
Mr. O’Brien noted that, “since June 1, 2026, we have been engaged on a comprehensive re-evaluation of the company’s credit portfolios with the assistance of independent consultants. Their initial feedback has been reflected in the loan loss reserving decisions made during the second quarter and we are working toward completion of that review by the end of the third quarter. With respect to the much larger commercial real estate portfolio, we are in the early stages of our analysis. Given the absolute size and complexity of these portfolios, this remains a work in progress.”

Second Quarter 2026 Income Statement Review

The Company reported a net loss of $14.8 million for the quarter ended June 30, 2026, compared to net income of $3.6 million for the quarter ended June 30, 2025. This decline was primarily due to a $14.1 million increase in loan loss provisioning, a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on the sale of loans and a $1.7 million increase in salaries and employee benefits. This was offset by a decrease in tax provision of $4.9 million.

Interest income decreased by $2.7 million, or 6.3 percent, to $40.5 million for the second quarter of 2026 from $43.2 million for the second quarter of 2025. The average balance of interest-earning assets decreased $215.5 million, or 6.5 percent, to $3.092 billion for the second quarter of 2026 from $3.307 billion for the second quarter of 2025. The average yield increased 1 basis point to 5.25 percent for the second quarter of 2026 from 5.24 percent for the second quarter of 2025.

Interest expense decreased by $3.0 million to $17.1 million for the second quarter of 2026 from $20.1 million for the second quarter of 2025. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 29 basis points to 2.87 percent for the second quarter of 2026 from 3.16 percent for the second quarter of 2025, while the average balance of interest-bearing liabilities decreased by $156.0 million to $2.393 billion for the second quarter of 2026 from $2.549 billion for the second quarter of 2025.

The net interest margin was 3.03 percent for the second quarter of 2026 compared to 2.80 percent for the second quarter of 2025. The increase in the net interest margin compared to the second quarter of 2025 was the result of a decrease in the cost of interest-bearing liabilities.

The provision for credit losses was $19.0 million for the second quarter of 2026 compared to $4.9 million for the second quarter of 2025. The increase was primarily driven by higher reserve requirements within the C&I loan portfolio, as further described under Asset Quality. During the second quarter of 2026, the Company recognized $6.6 million in net charge-offs compared to $5.7 million in net charge-offs in the second quarter of 2025. The Bank had non-accrual loans totaling $72.0 million, or 2.73 percent of gross loans, at June 30, 2026, as compared to $63.3 million, or 2.32 percent of gross loans, at December 31, 2025. The allowance for credit losses on loans was $45.0 million, or 1.71 percent of gross loans, at June 30, 2026, and $33.7 million, or 1.24 percent of gross loans, at December 31, 2025. Management believes the allowance for credit losses on loans was adequate at June 30, 2026 and December 31, 2025.

Non-interest income decreased by $2.5 million to a loss of $470 thousand for the second quarter of 2026, compared to income of $2.1 million for the second quarter of 2025. The decrease in total non-interest income was primarily attributable to a $2.6 million loss on the sale of loans, compared to no such loss in the prior year period, and a $108 thousand increase in mark-to-market losses on investment securities, partially offset by a $131 thousand increase in Bank Owned Life Insurance (“BOLI”) income.

Non-interest expense increased by $6.9 million, or 45.0 percent, to $22.1 million for the second quarter of 2026 compared to $15.3 million for the second quarter of 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge, a $1.7 million increase in salaries and benefits expense, which included $814 thousand severance costs, and a $273 thousand increase in advertising and promotion expense. Partially offsetting these increases was a $205 thousand decrease in professional fees.

The income tax provision decreased by $4.9 million, to an income tax benefit of $3.5 million for the second quarter of 2026 when compared to a $1.5 million provision for the second quarter of 2025.

Year-to-Date Income Statement Review
Net income decreased by $5.1 million to a net loss of $9.9 million for the first six months of 2026, compared to a net loss of $4.8 million for the first six months of 2025. The increased net loss was primarily attributable to a $5.3 million non-cash goodwill impairment charge, a $2.6 million loss on the sale of loans and a $2.6 million increase in salaries and employee benefits.

Net interest income increased $1.1 million for the first six months of 2026, as interest expense decreased by $7.6 million, or 17.9 percent, to $34.7 million from $42.3 million for the first six months of 2025 and interest income decreased $6.5 million, from $87.4 million to $80.9 million for the same period. The average balance of interest-earning assets decreased $257.1 million, or 7.6 percent, to $3.118 billion from $3.375 billion, while the average yield on interest-earning assets increased 1 basis point to 5.23 percent from 5.22 percent. The decline in average interest-earning assets was primarily due to a $279.5 million decrease in average loans, partially offset by a $19.2 million increase in average investment securities. The decrease in interest expense was driven by declines in interest expense on borrowings and deposits of $4.0 million and $3.6 million, respectively. Average borrowings decreased $201.4 million, while the average rate paid on borrowings increased by 70 basis points to 5.56 percent. Average deposits declined $10.1 million and the average rate paid on deposits declined 32 basis points to 2.59 percent.

Net interest margin was 2.99 percent for the first six months of 2026, compared to 2.70 percent for the first six months of 2025. The increase in the net interest margin compared to the prior period was the result of a decrease in the cost of the Company’s interest-bearing liabilities, by 35 basis points to 2.90 percent and an increase in the rate earned on earning assets, by 1 basis point to 5.23 percent.

The provision for credit losses decreased by $4.0 million to $21.8 million for the first six months of 2026 from $25.7 million for the same period in 2025. The elevated provision in the prior-year period reflected a previously disclosed $13.7 million specific reserve related to a $34.2 million cannabis-sector lending relationship. The 2026 provision was primarily driven by increased reserve requirements within the C&I loan portfolio, as further described under Asset Quality. During the first six months of 2026, the Company experienced $10.5 million in net charge-offs compared to $9.9 million in net charge-offs for the same period in 2025.

Non-interest income decreased by $2.2 million to $1.6 million for the first six months of 2026, compared to $3.9 million for the same period in 2025. The decrease was primarily attributable to a $2.6 million loss on the sale of loans in 2026, compared to no such loss in the prior year period. Partially offsetting this was a $469 thousand increase in income from Bank Owned Life Insurance (“BOLI”).

Non-interest expense increased by $7.8 million, or 25.9 percent, to $37.7 million for the first six months of 2026 from $29.9 million for the same period in 2025. The increase was primarily driven by a $5.3 million non-cash goodwill impairment charge and a $2.6 million increase in salaries and employee benefits expense, which included $814 thousand severance costs recognized during the second quarter. Advertising expenses and OREO expenses increased $294 thousand and $280 thousand, respectively. Partially offsetting these increases were decreases in professional fees, director fees and regulatory assessments of $270 thousand, $241 thousand and $98 thousand, respectively.

The income tax benefit decreased by $157 thousand or 8.1 percent, to an income tax benefit of $1.8 million for the first six months of 2026 when compared to a $1.9 million income tax benefit for the same period in 2025. While the pretax loss increased to $11.6 million from $6.7 million in the prior period, the income tax credit declined primarily because the $5.3 million non-cash goodwill impairment charge recognized in 2026 is not deductible for income tax purposes and therefore did not generate a corresponding tax benefit.

Investor Conference Call

Management will host a conference call on Monday, August 3, 2026 at 8:45 a.m. Eastern Time to discuss the results.

Interested investors are invited to dial 1-800-715-9871 using conference ID 3209751 to participate in the call. 

A replay of the call will be available at  https://investorrelations.bcbcommunitybank.com/corporate-information/corporate-profile/default.aspx.

About BCB Bancorp, Inc.

Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has twenty-two branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and four branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.

Forward-Looking Statements

This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies 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. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.

The most significant factors that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of global tariffs imposed by the Trump administration, higher inflation levels, and general economic and recessionary concerns, all of which could impact economic growth and could cause increased loan delinquencies, a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations. Other factors that could cause future results to vary materially from current management expectations as reflected in our forward-looking statements include, but are not limited to: our ability to manage liquidity and capital in a rapidly changing and unpredictable market, supply chain disruptions, labor shortages, the global impact of the military conflicts in the Ukraine and the Middle East; unfavorable economic conditions in the United States generally and particularly in our primary market area; the Company’s ability to effectively attract and deploy deposits; changes in the Company’s corporate strategies, the composition of its assets, or the way in which it funds those assets; shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility; the effects of declines in real estate values that may adversely impact the collateral underlying our loans; increase in unemployment levels and slowdowns in economic growth; our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs; the results of the recently commenced and ongoing review of our loan portfolios; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios; the credit risk associated with our loan portfolio; changes in the quality and composition of the Bank’s loan and investment portfolios; changes in our ability to access cost-effective funding; deposit flows; legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates; monetary and fiscal policies of the federal and state governments; changes in tax policies, rates and regulations of federal, state and local tax authorities; demands for our loan products; demand for financial services; competition; changes in the securities or secondary mortgage markets; changes in management’s business strategies; changes in consumer spending; our ability to hire and retain key employees; the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, or regulatory risk; expanding regulatory requirements which could adversely affect operating results; civil unrest in the communities that we serve; and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K filed for the year ended December 31, 2024, and our other periodic reports that we file with the SEC.

Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

Explanation of Non-GAAP Financial Measures

Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This press release also contains certain supplemental Non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s financial results for the periods in question.

The Company provides measurements and ratios based on tangible stockholders’ equity and efficiency ratios. These measures are utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors. For a reconciliation of GAAP to Non-GAAP financial measures included in this press release, see “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Contact:
Jawad Chaudhry,
EVP, CFO & Treasurer 
(201) 823-0700 

 Statements of Operations - Three Months Ended,    June 30, 2026March 31, 2026June 30, 2025June 30, 2026 vs. March 31, 2026 June 30, 2026 vs. June 30, 2025Interest and dividend income:(In thousands, except per share amounts, Unaudited)   Loans, including fees$35,856 $35,878 $38,650 -0.1% -7.2%Mortgage-backed securities 960  839  765 14.4% 25.5%Other investment securities 1,113  990  1,057 12.4% 5.3%FHLB stock and other interest-earning assets 2,532  2,695  2,709 -6.0% -6.5%Total interest and dividend income 40,461  40,402  43,181 0.1% -6.3%       Interest expense:      Deposits:      Demand 5,413  5,170  5,584 4.7% -3.1%Savings and club 112  136  217 -17.6% -48.4%Certificates of deposit 8,266  8,592  9,170 -3.8% -9.9%  13,791  13,898  14,971 -0.8% -7.9%Borrowings 3,325  3,667  5,108 -9.3% -34.9%Total interest expense 17,116  17,565  20,079 -2.6% -14.8%       Net interest income 23,345  22,837  23,102 2.2% 1.1%Provision for credit losses 18,987  2,788  4,891 581.0% 288.2%       Net interest income after provision for credit losses 4,358  20,049  18,211 -78.3% -76.1%       Non-interest (loss) income :      Fees and service charges 1,313  1,191  1,305 10.2% 0.6%(Loss) gain on sales of loans (2,607) 7  - -37342.9% - Realized and unrealized loss on equity investments (248) (93) (108)166.7% 129.6%Bank-owned life insurance ("BOLI") income 917  946  786 -3.1% 16.7%Other 155  50  93 210.0% 66.7%Total non-interest (loss) income (470) 2,101  2,076 -122.4% -122.6%       Non-interest expense:      Salaries and employee benefits 9,395  8,327  7,713 12.8% 21.8%Occupancy and equipment 2,562  2,724  2,502 -5.9% 2.4%Data processing and communications 1,968  2,023  2,046 -2.7% -3.8%Professional fees 562  627  767 -10.4% -26.7%Director fees 244  246  313 -0.8% -22.0%Regulatory assessment fees 650  765  804 -15.0% -19.2%Advertising and promotions 489  200  216 144.5% 126.4%Other real estate owned, net 130  150  - -13.3% - Impairment of Goodwill 5,253  -  - -  - Other 879  489  907 79.8% -3.1%Total non-interest expense 22,132  15,551  15,268 42.3% 45.0%       (Loss) Income before income tax (benefit) provision (18,244) 6,599  5,019 -376.5% -463.5%Income tax (benefit) provision (3,468) 1,695  1,455 -304.6% -338.4%       Net (Loss) Income (14,776) 4,904  3,564 -401.3% -514.6%Preferred stock dividends -  482  482 -  - Net (Loss) Income available to common stockholders$(14,776)$4,422 $3,082 -434.2% -579.5%       Net (Loss) Income per common share-basic and diluted      Basic$(0.85)$0.26 $0.18 -434.3% -575.8%Diluted$(0.85)$0.26 $0.18 -434.3% -575.8%       Weighted average number of common shares outstanding      Basic 17,306  17,314  17,175 -0.0% 0.8%Diluted 17,306  17,314  17,175 -0.0% 0.8%         Statements of Operations - Six Months Ended,  June 30, 2026June 30, 2025June 30, 2026 vs. June 30, 2025Interest and dividend income:(In thousands, except per share amounts, Unaudited) Loans, including fees$71,734 $77,577 -7.5%Mortgage-backed securities 1,799  1,326 35.7%Other investment securities 2,103  2,025 3.9%FHLB stock and other interest-earning assets 5,227  6,445 -18.9%Total interest and dividend income 80,863  87,373 -7.5%    Interest expense:   Deposits:   Demand 10,583  11,002 -3.8%Savings and club 248  368 -32.6%Certificates of deposit 16,858  19,932 -15.4%  27,689  31,302 -11.5%Borrowings 6,992  10,964 -36.2%Total interest expense 34,681  42,266 -17.9%    Net interest income 46,182  45,107 2.4%Provision for credit losses 21,775  25,736 -15.4%    Net interest income after provision for credit losses 24,407  19,371 26.0%    Non-interest income :   Fees and service charges 2,504  2,478 1.0%Gain (loss) on sales of loans (2,600) - - Realized and unrealized gain (loss) on equity investments (341) (223)52.9%Bank-owned life insurance ("BOLI") income 1,863  1,394 33.6%Other 205  218 -6.0%Total non-interest income 1,631  3,867 -57.8%    Non-interest expense:   Salaries and employee benefits 17,722  15,116 17.2%Occupancy and equipment 5,286  5,225 1.2%Data processing and communications 3,991  3,890 2.6%Professional fees 1,189  1,459 -18.5%Director fees 490  731 -33.0%Regulatory assessments 1,415  1,513 -6.5%Advertising and promotions 689  395 74.4%Other real estate owned, net 280  - - Impairment of Goodwill 5,253  -  Other 1,368  1,599 -14.4%Total non-interest expense 37,683  29,928 25.9%    Loss before income tax benefit (11,645) (6,690)74.1%Income tax benefit (1,773) (1,930)-8.1%    Net Loss (9,872) (4,760)107.4%Preferred stock dividends 482  964 -50.0%Net Loss available to common stockholders$(10,354)$(5,724)80.9%    Net Loss per common share-basic and diluted   Basic$(0.60)$(0.33)79.5%Diluted$(0.60)$(0.33)79.5%    Weighted average number of common shares outstanding   Basic 17,273  17,144 0.8%Diluted 17,273  17,144 0.8%     Statements of Financial ConditionJune 30, 2026March 31, 2026December 31, 2025June 30, 2026 vs. March 31, 2026June 30, 2026 vs. December 31, 2025ASSETS(In Thousands, Unaudited)  Cash and amounts due from depository institutions$14,573 $12,619 $13,794 15.5%5.6%Interest-earning deposits 182,314  281,118  262,790 -35.1%-30.6%Total cash and cash equivalents 196,887  293,737  276,584 -33.0%-28.8%      Interest-earning time deposits 735  735  735 - - Debt securities available for sale 148,428  134,013  126,395 10.8%17.4%Equity investments 3,851  9,079  9,172 -57.6%-58.0%Loans held for sale 10,777  -  - - - Loans receivable, net of allowance for credit losses on loans     of $44,980, $32,578, and $33,691 respectively 2,587,984  2,655,981  2,691,091 -2.6%-3.8%Federal Home Loan Bank of New York ("FHLB") stock, at cost 9,048  13,757  14,176 -34.2%-36.2%Premises and equipment, net 11,737  11,915  12,056 -1.5%-2.6%Accrued interest receivable 14,661  15,259  13,834 -3.9%6.0%Other real estate owned 5,000  5,000  5,000 - - Deferred income taxes 24,794  23,047  22,209 7.6%11.6%Goodwill -  5,253  5,253 - - Operating lease right-of-use asset 10,479  10,889  10,660 -3.8%-1.7%Bank-owned life insurance ("BOLI") 81,229  80,312  79,366 1.1%2.3%Other assets 12,516  10,120  12,935 23.7%-3.2%Total Assets$3,118,126 $3,269,097 $3,279,466 -4.6%-4.9%      LIABILITIES AND STOCKHOLDERS' EQUITY     LIABILITIES     Non-interest bearing deposits$514,648 $521,316 $531,140 -1.3%-3.1%Interest bearing deposits 2,121,375  2,151,113  2,142,433 -1.4%-1.0%Total deposits 2,636,023  2,672,429  2,673,573 -1.4%-1.4%FHLB advances 125,000  225,000  235,000 -44.4%-46.8%Subordinated debentures 43,335  43,272  43,210 0.1%0.3%Operating lease liability 10,953  11,365  11,140 -3.6%-1.7%Other liabilities 10,896  9,651  12,259 12.9%-11.1%Total Liabilities 2,826,207  2,961,717  2,975,182 -4.6%-5.0%      STOCKHOLDERS' EQUITY     Preferred stock: $0.01 par value, 10,000 shares authorized -  -  - - - Additional paid-in capital preferred stock 25,243  25,243  25,243 - - Common stock: no par value, 40,000 shares authorized -  -  - - - Additional paid-in capital common stock 204,451  203,876  203,429 0.3%0.5%Retained earnings 103,225  119,412  116,415 -13.6%-11.3%Accumulated other comprehensive loss (2,653) (2,804) (2,456)-5.4%8.0%Treasury stock, at cost (38,347) (38,347) (38,347)- - Total Stockholders' Equity 291,919  307,380  304,284 -5.0%-4.1%      Total Liabilities and Stockholders' Equity$3,118,126 $3,269,097 $3,279,466 -4.6%-4.9%      Outstanding common shares 18,102  17,359  17,274           Three Months Ended June 30,  2026   2025  Average BalanceInterest Earned/PaidAverage Yield/Rate(3) Average BalanceInterest Earned/PaidAverage Yield/Rate(3) (Dollars in thousands)Interest-earning assets:       Loans Receivable(4)(5)$2,660,757 $35,8565.41% $2,933,851 $38,6505.28%Investment Securities 152,347  2,0735.44%  133,900  1,8225.44%Other Interest-earning assets(6) 278,413  2,5323.65%  239,245  2,7094.54%Total Interest-earning assets 3,091,517  40,4615.25%  3,306,996  43,1815.24%Non-interest-earning assets 139,410     113,206   Total assets$3,230,927    $3,420,202   Interest-bearing liabilities:       Interest-bearing demand accounts$529,612 $2,1221.61% $529,120 $2,2301.69%Money market accounts 449,469  3,2912.94%  418,014  3,3543.22%Savings accounts 237,124  1120.19%  258,696  2170.34%Certificates of Deposit 940,358  8,2663.53%  921,140  9,1703.99%Total interest-bearing deposits 2,156,563  13,7912.56%  2,126,970  14,9712.82%Borrowed funds 236,427  3,3255.64%  422,022  5,1084.85%Total interest-bearing liabilities 2,392,990  17,1162.87%  2,548,992  20,0793.16%Non-interest-bearing liabilities 529,508     557,177   Total liabilities 2,922,498     3,106,169   Stockholders' equity 308,429     314,033   Total liabilities and stockholders' equity$3,230,927    $3,420,202   Net interest income $23,345   $23,102 Net interest rate spread(1)  2.38%   2.08%Net interest margin(2)  3.03%   2.80%        (1)Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities.(2)Net interest margin represents net interest income divided by average total interest-earning assets.(3)Annualized.(4)Excludes allowance for credit losses.(5)Includes non-accrual loans.(6)Includes Federal Home Loan Bank of New York Stock.          Six Months Ended June 30,  2026   2025  Average BalanceInterest Earned/PaidAverage Yield/Rate(3) Average BalanceInterest Earned/PaidAverage Yield/Rate(3) (Dollars in thousands)Interest-earning assets:       Loans Receivable(4)(5)$2,684,502 $71,7345.39% $2,964,023 $77,5775.28%Investment Securities 144,789  3,9025.43%  125,598  3,3515.38%Other interest-earning assets(6) 288,485  5,2273.65%  285,271  6,4454.56%Total Interest-earning assets 3,117,776  80,8635.23%  3,374,892  87,3735.22%Non-interest-earning assets 137,717     119,558   Total assets$3,255,493    $3,494,450   Interest-bearing liabilities:       Interest-bearing demand accounts$526,523 $4,1651.59% $544,756 $4,5981.70%Money market accounts 440,938  6,4182.94%  406,214  6,4043.18%Savings accounts 239,777  2480.21%  255,479  3680.29%Certificates of Deposit 952,259  16,8583.57%  963,171  19,9324.17%Total interest-bearing deposits 2,159,497  27,6892.59%  2,169,620  31,3022.91%Borrowed funds 253,679  6,9925.56%  455,036  10,9644.86%Total interest-bearing liabilities 2,413,176  34,6812.90%  2,624,656  42,2663.25%Non-interest-bearing liabilities 535,232     550,454   Total liabilities 2,948,408     3,175,110   Stockholders' equity 307,085     319,340   Total liabilities and stockholders' equity$3,255,493    $3,494,450   Net interest income $46,182   $45,107 Net interest rate spread(1)  2.33%   1.97%Net interest margin(2)  2.99%   2.70%        (1)Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities.
(2)Net interest margin represents net interest income divided by average total interest-earning assets.
(3)Annualized.(4)Excludes allowance for credit losses.(5)Includes non-accrual loans.(6)Includes Federal Home Loan Bank of New York Stock.          Financial Condition data by quarter Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025       (In thousands, except book values)Total assets$3,118,126 $3,269,097 $3,279,466 $3,353,065 $3,380,461 Cash and cash equivalents 196,887  293,737  276,584  249,614  206,852 Securities 152,279  143,092  135,567  125,292  140,025 Loans receivable, net 2,587,984  2,655,981  2,691,091  2,788,932  2,860,453 Deposits 2,636,023  2,672,429  2,673,573  2,687,387  2,661,534 Borrowings 168,335  268,272  278,210  323,922  378,722 Stockholders’ equity 291,919  307,380  304,284  318,453  315,735 Book value per common share(1)$14.73 $16.25 $16.15 $17.02 $16.89 Tangible book value per common share(2)$14.73 $15.95 $15.85 $16.71 $16.59        Operating data by quarter Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands, except for per share amounts)Net interest income$23,345 $22,837 $24,223 $23,711 $23,102 Provision for credit losses 18,987  2,788  12,195  4,080  4,891 Non-interest (loss) income (470) 2,101  1,943  2,745  2,076 Non-interest expense 22,132  15,551  31,385  16,570  15,268 Income tax expense (benefit) (3,468) 1,695  (5,385) 1,544  1,455 Net income (loss)$(14,776)$4,904 $(12,029)$4,262 $3,564 Net income (loss) per diluted share$(0.85)$0.26 $(0.73)$0.22 $0.18 Common Dividends declared per share$0.08 $0.08 $0.16 $0.16 $0.16        Financial Ratios(3) Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Return on average assets (1.83%) 0.61% (1.44%) 0.50% 0.42%Return on average stockholders' equity (19.22%) 6.50% (14.99%) 5.35% 4.55%Net interest margin 3.03% 2.95% 3.03% 2.88% 2.80%Stockholders' equity to total assets 9.36% 9.40% 9.28% 9.50% 9.34%Efficiency Ratio(4) 96.75% 62.36% 119.95% 62.63% 60.64%       Asset Quality Ratios Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands, except for ratio %)Non-Accrual Loans(5)$72,011 $59,805 $63,255 $93,517 $101,764 Non-Accrual Loans as a % of Total Loans(5) 2.73% 2.22% 2.32% 3.31% 3.50%ACL as % of Non-Accrual Loans 62.5% 54.5% 53.3% 40.4% 49.8%Individually Analyzed Loans$124,832 $160,600 $162,226 $129,358 $153,428 Criticized Loans 206,975  208,339  170,875  220,768  229,929 Classified Loans(6) 160,454  194,662  188,876  228,255  266,847 Past Due loans(6) 122,759  107,947  99,132  174,006  110,971       (1)Calculated by dividing stockholders' equity, less preferred equity, by shares outstanding.
(2)Calculated by dividing tangible stockholders’ common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders’common equity is stockholders’ equity less goodwill and preferred stock. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.”(3)Ratios are presented on an annualized basis, where appropriate.
(4)The Efficiency Ratio, a non-GAAP measure, was calculated by dividing non-interest expense by the total of net interest incomeand non-interest income. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.”
(5)Non-Accrual loans include Held for Sale loan.
(6)Classified and past due loans excludes Held for Sale loan.
        Recorded Investment in Loans Receivable by quarter Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands)Residential one-to-four family$218,750 $223,708 $226,708 $227,140 $230,917 Commercial and multi-family 2,009,865  2,021,827  2,040,768  2,080,088  2,088,117 Cannabis related 69,190  68,876  69,293  69,102  103,007 Construction 33,298  68,362  68,521  105,980  111,370 Commercial business 157,523  160,088  168,459  192,762  224,800 Business Express 68,949  71,215  74,862  78,253  81,521 Home equity 73,935  72,716  74,332  73,566  71,587 Consumer 3,401  3,584  3,580  2,042  2,075  $2,634,911 $2,690,376 $2,726,523 $2,828,933 $2,913,394 Less:     Deferred loan fees, net (1,947) (1,817) (1,741) (2,198) (2,283)Allowance for credit losses on loans (44,980) (32,578) (33,691) (37,803) (50,658)      Total loans, net$2,587,984 $2,655,981 $2,691,091 $2,788,932 $2,860,453        Non-Accruing Loans in Portfolio by quarter Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands)Residential one-to-four family$1,515 $1,576 $1,554 $1,410 $1,436 Commercial and multi-family 54,478  52,297  52,159  70,546  57,969 Cannabis related -  -  -  -  33,512 Construction(1) 13,364  3,173  4,897  2,310  586 Commercial business 2,397  2,418  3,725  17,442  6,392 Business Express -  -  626  1,335  1,377 Home equity 257  341  294  474  492 Consumer -  -  -  -  - Total:$72,011 $59,805 $63,255 $93,517 $101,764 (1)Includes Held for Sale loan            Distribution of Deposits by quarter Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands)Demand:     Non-Interest Bearing$514,648 $521,317 $531,140 $536,908 $539,093 Interest Bearing 517,627  511,465  501,172  477,427  503,336 Money Market 446,918  448,397  426,138  422,424  428,397 Sub-total:$1,479,193 $1,481,179 $1,458,450 $1,436,759 $1,470,826 Savings and Club 230,532  240,048  243,670  254,554  258,585 Certificates of Deposit 926,298  951,202  971,453  996,074  932,123 Total Deposits:$2,636,023 $2,672,429 $2,673,573 $2,687,387 $2,661,534         Reconciliation of GAAP to Non-GAAP Financial Measures by quarter       Tangible Book Value per Share Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands, except per share amounts)Total Stockholders' Equity$291,919 $307,380 $304,284 $318,453 $315,735 Less: goodwill -  5,253  5,253  5,253  5,253 Less: preferred stock 25,243  25,243  25,243  25,243  25,243 Total tangible common stockholders' equity 266,676  276,884  273,788  287,957  285,239 Common shares outstanding 18,102  17,359  17,274  17,228  17,194 Book value per common share$14.73 $16.25 $16.15 $17.02 $16.89 Tangible book value per common share$14.73 $15.95 $15.85 $16.71 $16.59        Efficiency Ratios Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025 (In thousands, except for ratio %)Net interest income$23,345 $22,837 $24,223 $23,711 $23,102 Non-interest (loss)income (470) 2,101  1,943  2,745  2,076 Total income 22,875  24,938  26,166  26,456  25,178 Non-interest expense 22,132  15,551  31,385  16,570  15,268 Efficiency Ratio 96.75% 62.36% 119.95% 62.63% 60.64%      

The Bancorp (TBBK - Free Report) came out with quarterly earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.36 per share. This compares to earnings of $1.27 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +6.62%. A quarter ago, it was expected that this holding company for The Bancorp Bank would post earnings of $1.34 per share when it actually produced earnings of $1.41, delivering a surprise of +5.22%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

The Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $163.51 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.91%. This compares to year-ago revenues of $181.24 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

The Bancorp shares have added about 0.1% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for The Bancorp?While The Bancorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for The Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.42 on $167.68 million in revenues for the coming quarter and $5.95 on $678.77 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

StoneX Group Inc. (SNEX - Free Report) , another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of +40.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

StoneX Group Inc.'s revenues are expected to be $1.32 billion, up 28.5% from the year-ago quarter.

, /PRNewswire/ -- CW Bancorp (OTCQX: CWBK), the parent company ("the Company") of CommerceWest Bank (the "Bank") reported consolidated net income for the second quarter of 2026 of $3,133,000 or $1.06 per diluted share as compared to $3,082,000 or $1.02  per diluted share for the second quarter of 2025, an EPS increase of 4% and net income for the six months ended June 30, 2026 of $6,629,000 or $2.24 per diluted share as compared to $6,017,000 or $1.99 per diluted share for the six months ended June 30, 2025, an EPS increase of 13%.

Key Financial Results for the three months ended June 30, 2026:

EPS of $1.06 up 4% Net interest income growth of 10% ACL to total loans ratio of 1.32% No outstanding FRB or FHLB borrowings Non-interest-bearing deposits to total deposits of 67% Leverage ratio of 11.14% and total risk-based capital ratio of 17.71% 66 quarters of consecutive profits Key Financial Results for the six months ended June 30, 2026:

EPS of $2.24 up 13% Net income of $6.6 million up 10% Return on Assets of 1.11% up 2% Return on Tangible Equity of 14.12% Net interest income growth of 9% Securities available for sale growth of 44% Mr. Ivo Tjan, Chairman and CEO commented, "Our second quarter results demonstrated the continued strength and resilience of our relationship driven business model. We delivered diluted earnings per share of $1.06, up 4% from a year ago, while growing net interest income by 10%, and achieving our 66th consecutive quarter of profitability. During the quarter, we further strengthened our balance sheet through disciplined asset and liability management, growing non-interest-bearing deposits by 17% year over year, enhancing the quality of our funding base, and maintaining a well-capitalized position with no outstanding Federal Reserve Bank or Federal Home Loan Bank borrowings. As we navigate an evolving economic environment, we remain committed to disciplined credit management, operational excellence, prudent capital allocation, and building long term value for our clients, shareholders, and employees."

Total assets increased $16.4 million as of June 30, 2026, an increase of 1% as compared to the same period one year ago. Total loans decreased $31.5 million as of June 30, 2026, a decrease of 4% from the prior year. The Bank remains prudent and conservative about credit quality. Cash and due from banks decreased $6.1 million or 3% over the prior year. Total investment securities increased $56.7 million, an increase of 36% from the prior year.

Total deposits increased $22.8 million as of June 30, 2026, an increase of 2% from June 30, 2025. Non-interest-bearing deposits increased $100.4 million as of June 30, 2026, an increase of 17% from the prior year. Interest bearing deposits decreased $77.6 million as of June 30, 2026, a decrease of 18% over the prior year. Subordinated debt decreased $15.0 million as of June 30, 2026 as compared to the previous year as the Company made a partial repayment when $32.5 million of the outstanding debt converted from a fixed interest rate to a floating interest rate on April 1, 2026.

Interest income was $13,914,000 for the three months ended June 30, 2026, as compared to $13,671,000 for the three months ended June 30, 2025, an increase of 2%. Interest expense was $2,851,000 for the three months ended June 30, 2026, as compared to $3,589,000 for the three months ended June 30, 2025, a decrease of 21%.

Interest income was $27,907,000 for the six months ended June 30, 2026, as compared to $27,108,000 for the six months ended June 30, 2025, an increase of 3%. Interest expense was $6,044,000 for the six months ended June 30, 2026, as compared to $6,982,000 for the six months ended June 30, 2025, a decrease of 13%.

Net interest income for the three months ended June 30, 2026, was $11,063,000 as compared to $10,082,000 for the three months ended June 30, 2025, an increase of 10%. The net interest margin was 3.83% for the three months ended June 30, 2026, as compared to 3.82% in 2025. Net interest income for the six months ended June 30, 2026, was $21,863,000 as compared to $20,126,000 for the six months ended June 30, 2025, an increase of 9%. The net interest margin decreased for the six months ended June 30, 2026. It decreased from 3.84% in 2025 to 3.79% in 2026, a decrease of 1%.

The provision for credit losses for the three months ended June 30, 2026, reflected a reduction in the reserve of $150,000 compared to provision expense of $100,000 for the three months ended June 30, 2025. The provision for credit losses for the six months ended June 30, 2026, reflected a reduction in the reserve of $100,000 compared to provision expense of $100,000 for the six months ended June 30, 2025.

Non-interest income for the three months ended June 30, 2026, was $1,014,000 compared to $1,335,000 for the same period last year, a decrease of 24%. Non-interest income for the six months ended June 30, 2026, was $1,985,000 compared to $2,580,000 for the same period last year, a decrease of 23%.

Non-interest expense for the three months ended June 30, 2026, was $7,847,000 compared to $6,987,000 for the same period last year, an increase of 12%. Capitalized debt issuance costs, related to the repayment of the $15.0 million in subordinated debt, of $137,000 were expensed in the second quarter. Non-interest expense for the six months ended June 30, 2026, was $14,754,000 compared to $14,161,000 for the same period last year, an increase of 4%.

The efficiency ratio for the three months ended June 30, 2026, was 64.74% compared to 61.34% in 2025, which represents an increase of 6%. The efficiency ratio illustrates that for every dollar made for the three-month period ending June 30, 2026, it cost $0.6474 to make it, as compared to $0.6134 one year ago. The efficiency ratio for the six months ended June 30, 2026, was 61.60% compared to 62.28% in 2025, which represents a decrease of 1%.

Capital ratios for the Bank remain above the levels required for a "well capitalized" institution as designated by regulatory agencies. As of June 30, 2026, the tier 1 leverage ratio was 11.14%, the common equity tier 1 capital ratio was 16.46%, the tier 1 risk-based capital ratio was 16.46% and the total risk-based capital ratio was 17.71%.

CommerceWest Bank is determined to redefine banking for small and medium sized businesses by delivering customized products and services to each client's needs. Founded in 2001 and headquartered in Irvine, California, the Bank serves businesses throughout the state of California with our robust digital banking platform.

By employing a strategically selected team of experienced professionals, we will provide flexibility, and create a complete, safe and sound banking experience for each client. We provide a full suite of commercial banking services, including remote deposit solutions, NetBanker online banking, mobile banking, lines of credit, M&A and working capital financing, commercial real estate loans, SBA lending and treasury management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services. 

Please visit www.cwbk.com to learn more about the bank. "BANK ON THE DIFFERENCE"

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of the United States government and general economic conditions. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.

SECOND QUARTER REPORT - JUNE 30, 2026 (Unaudited)

CW BANCORP

%

CONSOLIDATED BALANCE SHEET

Increase

(dollars in thousands)

June 30, 2026

June 30, 2025

(Decrease)

ASSETS

Cash and due from banks

$                  176,571

$                  182,673

-3 %

Securities available for sale

190,280

132,206

44 %

Securities held-to-maturity

25,127

26,528

-5 %

Loans 

779,614

811,093

-4 %

  Less allowance for credit losses (ACL)

(10,253)

(11,444)

-10 %

Loans, net

769,361

799,649

-4 %

Bank premises and equipment, net

2,261

3,102

-27 %

Other assets

34,438

37,527

-8 %

     Total assets

$               1,198,038

$               1,181,685

1 %

LIABILITIES AND STOCKHOLDERS' EQUITY

Non-interest bearing deposits

$                  702,506

$                  602,080

17 %

Interest bearing deposits

349,926

427,558

-18 %

     Total deposits

1,052,432

1,029,638

2 %

Subordinated debenture

35,000

50,000

-30 %

Other liabilities

11,267

12,622

-11 %

1,098,699

1,092,260

1 %

Stockholders' equity

99,339

89,425

11 %

     Total liabilities and stockholders' equity

$               1,198,038

$               1,181,685

1 %

Shares outstanding at end of period

2,928,302

2,971,252

Book value per share

$                      36.57

$                     33.29

Total loans to total deposits

74.08 %

78.77 %

ACL to total loans

1.32 %

1.41 %

Nonperforming assets (non-accrual loans & OREO)

$                      9,551

$                     8,579

COMMERCEWEST BANK CAPITAL RATIOS:

Tier 1 leverage ratio

11.14 %

12.68 %

Common equity tier 1 capital ratio

16.46 %

16.83 %

Tier 1 risk-based capital ratio

16.46 %

16.83 %

Total risk-based capital ratio

17.71 %

18.08 %

CW BANCORP

CONSOLIDATED STATEMENT OF INCOME (Unaudited)

Three Months Ended

Increase

For the Six Months Ended

Increase

(dollars in thousands except share and per share data)

June 30, 2026

June 30, 2025

(Decrease)

June 30, 2026

June 30, 2025

(Decrease)

INTEREST INCOME

  Loans

$          10,455

$          11,193

-7 %

$          20,875

$          22,174

-6 %

  Investments

1,919

1,303

47 %

3,265

2,641

24 %

  Fed funds sold and other

1,540

1,175

31 %

3,767

2,293

64 %

       Total interest income

13,914

13,671

2 %

27,907

27,108

3 %

INTEREST EXPENSE

  Deposits

2,265

3,120

-27 %

4,989

6,044

-17 %

  Subordinated debenture

586

469

25 %

1,055

938

12 %

       Total interest expense

2,851

3,589

-21 %

6,044

6,982

-13 %

NET INTEREST INCOME BEFORE CREDIT LOSS PROVISION

11,063

10,082

10 %

21,863

20,126

9 %

PROVISION FOR CREDIT LOSSES

(150)

100

-250 %

(100)

100

-200 %

Non-interest income:

NET INTEREST INCOME AFTER CREDIT LOSS PROVISION

11,213

9,982

12 %

21,963

20,026

10 %

NON-INTEREST INCOME

Service Charges and Fees on Deposits

749

1,025

-27 %

1,448

2,054

-30 %

Other Fees

265

310

-15 %

537

526

2 %

NON-INTEREST EXPENSE

7,847

6,987

12 %

14,754

14,161

4 %

EARNINGS BEFORE INCOME TAXES

4,380

4,330

1 %

9,194

8,445

9 %

INCOME TAXES

1,247

1,248

0 %

2,565

2,428

6 %

NET INCOME

$            3,133

$            3,082

2 %

$            6,629

$            6,017

10 %

Basic earnings per share

$              1.07

$              1.04

3 %

$              2.26

$              2.02

12 %

Diluted earnings per share

$              1.06

$              1.02

4 %

$              2.24

$              1.99

13 %

Return on Assets

1.05 %

1.12 %

-6 %

1.11 %

1.09 %

2 %

Return on Equity

12.79 %

13.95 %

-8 %

13.68 %

13.81 %

-1 %

Return on Tangible Equity

13.20 %

14.45 %

-9 %

14.12 %

14.31 %

-1 %

Efficiency Ratio

64.74 %

61.34 %

6 %

61.60 %

62.28 %

-1 %

CW BANCORP

CONSOLIDATED AVERAGE BALANCE SHEET and YIELD ANALYSIS

Three Months Ended June 30,

2026

2025

Average
Balance

Interest
Income /
Expense

Yield /
Cost

Average
Balance

Interest
Income /
Expense

Yield /
Cost

(dollars in thousands)

INTEREST EARNING ASSETS

Int Bearing Due from Banks & FFS

$       163,025

$        1,503

3.70 %

$         93,499

$        1,036

4.44 %

Investment Securities (1)

214,214

2,009

3.76 %

160,551

1,362

3.40 %

Loans

782,174

10,455

5.36 %

803,447

11,193

5.59 %

FHLB & Other Stocks

7,100

37

2.09 %

7,100

139

7.85 %

Total interest-earning assets

1,166,513

14,004

4.82 %

1,064,597

13,730

5.17 %

Noninterest-earning assets

30,152

42,328

Total assets

$     1,196,665

$     1,106,925

INTEREST EARNING LIABILITIES

Interest Bearing Deposits

$       376,874

$        2,265

2.41 %

$       414,780

$        3,120

3.02 %

Other Borrowings

1

-

3.93 %

1

-

4.96 %

Subordinated Debenture

42,088

586

5.57 %

50,000

469

3.75 %

Total interest-earning liabilities

418,963

2,851

2.73 %

464,781

3,589

3.10 %

Noninterest-earning liabilities

Demand Deposits

665,833

541,198

Other Liabilities

13,650

12,361

Shareholders' Equity

98,219

88,585

Total liabilities and shareholder's equity

$     1,196,665

$     1,106,925

Net Interest Spread

$      11,153

2.09 %

$      10,141

2.07 %

Net Interest Margin

3.83 %

3.82 %

Total Deposits

$     1,042,707

$        2,265

0.87 %

$       955,978

$        3,120

1.31 %

Total Funding Costs

$     1,084,796

$        2,851

1.05 %

$     1,005,979

$        3,589

1.43 %

(1) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate

CW BANCORP

CONSOLIDATED AVERAGE BALANCE SHEET and YIELD ANALYSIS

Six Months Ended June 30,

2026

2025

Average
Balance

Interest
Income /
Expense

Yield /
Cost

Average
Balance

Interest
Income /
Expense

Yield /
Cost

(dollars in thousands)

INTEREST EARNING ASSETS

Int Bearing Due from Banks &FFS

$        187,662

$        3,441

3.70 %

$          91,520

$        2,017

4.44 %

Investment Securities (1)

192,186

3,414

3.58 %

163,004

2,759

3.41 %

Loans

783,408

20,875

5.37 %

800,170

22,174

5.59 %

FHLB & Other Stocks

7,100

326

9.26 %

7,100

276

7.84 %

Total interest-earning assets

1,170,356

28,056

4.83 %

1,061,794

27,226

5.17 %

Noninterest-earning assets

30,386

46,447

Total assets

$     1,200,742

$     1,108,241

INTEREST EARNING LIABILITIES

Interest Bearing Deposits

$        417,188

$        4,989

2.41 %

$        412,224

$        6,044

2.96 %

Other Borrowings

1

-

3.63 %

1

-

4.96 %

Subordinated Debenture

46,022

1,055

4.58 %

50,000

938

3.75 %

Total interest-earning liabilities

463,211

6,044

2.63 %

462,225

6,982

3.05 %

Noninterest-earning liabilities

Demand Deposits

625,699

545,561

Other Liabilities

14,090

12,591

Shareholders' Equity

97,742

87,864

Total liabilities and shareholder's equity

$     1,200,742

$     1,108,241

Net Interest Spread

$      22,012

2.20 %

$      20,244

2.12 %

Net Interest Margin

3.79 %

3.84 %

Total Deposits

$     1,042,887

$        4,989

0.96 %

$        957,785

$        6,044

1.27 %

Total Funding Costs

$     1,088,910

$        6,044

1.12 %

$     1,007,786

$        6,982

1.40 %

(1) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate

SOURCE CW Bancorp