October 9, 2025
Rocky Mount, North Carolina… Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company (the “Company”) for Providence Bank, reported net income available to common shareholders for the quarter ended September 30, 2025, of $5.71 million compared to $4.60 million for the same period in 2024, an increase of 24.21%. For the nine-month period ended September 30, 2025, net income available to common shareholders was $15.52 million compared to $11.88 million for the same period in 2024, an increase of 30.69%.
As of September 30, 2025, the Company reported total assets of $1.391 billion compared to $1.285 billion on September 30, 2024, an increase of 8.23%. Total deposits were $1.179 billion and gross loans were $1.181 billion at the end of the third quarter of 2025, compared to total deposits of $1.084 billion and gross loans of $1.086 billion at the end of the third quarter of 2024, increases of 8.75% and 8.71% respectively.
Whitehurst commented, “I am excited to report record quarterly earnings along with strong growth in both loans and deposits. The hard work and effort of our employees and the strategic merger with Coastal Bank & Trust continue to drive efficiency. As always, we will continue to look for opportunity to further enhance shareholder value.”
For the nine-month period ended September 30, 2025, the Company had basic earnings of $5.41 per share compared to $4.37 per share for the same period last year, an increase of 23.80%. As of September 30, 2025, the book value per common share was $43.75 compared to $39.70 on September 30, 2024, an increase of 10.20%. On August 22, 2025, the Company paid its third quarter dividend of $0.59 per share for each share of common stock outstanding. It was our 55th consecutively increased quarterly cash dividend paid to shareholders.
Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City and Richlands, as well as a loan production office in New Bern.
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This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company’s plans, objectives, expectations and intentions and other statements identified by words such as “believes,” “considers,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects,” “would be,” and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarters ended September 30, 2025 and September 30, 2024 as presented are unaudited.