FDIC-Insured - Backed by the full faith and credit of the U.S. Government

First Quarter 2026 Highlights

We’re encouraged by the Bank’s strong first‑quarter results, highlighted by continued asset growth and solid yield performance. These results reflect our ongoing commitment to serving our customers with consistency, discipline, and a focus on long‑term success.

 

As we look ahead, we are also pleased to see continued support for the Bank’s future. As of April 30, 2026, we have received $1.72 million in signed Securities Purchase Agreements, with additional commitments currently in process as part of our recently announced $5 million targeted capital raise.

 

This additional capital will help us build on the momentum we’ve established, allowing us to expand our lending capacity, strengthen our financial position, and continue investing in the products, services, and relationships that matter most to our customers and communities. We appreciate the continued trust and support of those we serve.

 

  Thomas J. Inserra, President & CEO

A Strong Start to 2026:  Growth, Stability, and Sound Banking 

Asset Growth

  • Total assets reached $182.5 million, up 3% for the quarter and 19% year over year, reflecting continued momentum.

 

Loan Growth & Credit Quality

  • Gross loans increased to $148.8 million, growing 4% quarter-over-quarter and 21% year over year.

  • The Bank reported zero delinquent and non-performing loans.

 

Deposits

  • Total deposits were $139.6 million.

  • While quarter-end balances declined seasonally due to tax payments, deposits grew 6% year over year.

 

Leadership Investment

  • Results reflect one-time costs associated with hiring the Bank’s new CEO/President.

  • Excluding these items, operating results were significantly stronger, positioning the Bank for future growth.

 

Liquidity & Flexibility

  • Liquidity totaled $28.3 million (15.5% of assets), with an additional $22 million in available borrowing capacity.

 

Earnings Fundamentals

  • Average loan yield was 7.26%, supporting a 3.75% net interest margin.



Risk Management

  • Credit loss reserves totaled $1.412 million (0.94% of total loans; 1.09% excluding loans held-for-sale).

  • The Bank continues to report no delinquent or non‑performing assets.

Performance 

Key Closed Loans  

Key Deposits