April 15, 2026
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 March 31, 2026, of $5,556,894 compared to $4,700,394 for the same period in 2025, an increase of 18.22%.
As of March 31, 2026, the Company reported total assets of $1.460 billion compared to $1.355 billion on March 31, 2025, an increase of 7.74%. Total deposits were $1.244 billion and gross loans were $1.219 billion at the end of the first quarter of 2026 compared to total deposits of $1.153 billion and gross loans of $1.149 billion at the end of the first quarter of 2025, increases of 7.87% and 6.11%, respectively.
Whitehurst commented, “I am very pleased to report our quarterly earnings. The Company continued to experience good growth throughout the organization with over 6% growth in loans, deposits and assets plus over 18% growth in net income available to common shareholders. Our employees help drive our success through their hard work and dedication to serving our customers. As always, we will continue to look for opportunities to further enhance shareholder value.”
For the three-month period ended March 31, 2026, the Company had basic earnings of $1.93 per share compared to $1.64 per share for the same period last year, an increase of 17.68%. As of March 31, 2026, book value per common share was $45.57 compared to $41.10 on March 31, 2025, an increase of 10.88%. On February 26, 2026, the Company paid its first ever special cash dividend of $0.34 per share for each share of common stock outstanding. On March 5, 2026, the Company paid its first quarter dividend of $0.61 per share for each share of common stock outstanding. The quarterly cash dividend was our 57th 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.
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 March 31, 2026 and March 31, 2025 as presented are unaudited.