The Bancorp(US:TBBK) Prnewswire·2025-10-21 13:00Core Insights - West Coast Community Bancorp reported unaudited earnings of $12.1 million for Q3 2025, a decrease from $12.9 million in Q2 2025 but a significant increase of 47% from $8.2 million in Q3 2024 [1] - Year-to-date earnings for the nine-month period ended September 30, 2025, were $36.7 million, up 42% from $25.7 million in the same period in 2024 [1] Earnings Per Share - Basic and diluted EPS for Q3 2025 were $1.15 and $1.14, respectively, down from $1.23 and $1.22 in Q2 2025, but up 17% and 19% from the same quarter last year [2] - For the nine-month period ended September 30, 2025, basic and diluted EPS were $3.49 and $3.45, reflecting a 14% increase from the same period in 2024 [2] Dividends - The Bancorp Board declared a quarterly cash dividend of $0.22 per common share, payable on November 10, 2025 [3] Financial Performance - Total deposits reached $2.4 billion at September 30, 2025, an increase of $176 million (8%) from June 30, 2025, and $909.1 million (60%) from September 30, 2024 [5][27] - Net income for Q3 2025 decreased by $857 thousand (7%) from Q2 2025 due to a $2.9 million increase in the provision for credit losses [5] - Total assets increased to $2.8 billion at September 30, 2025, up from $2.7 billion at June 30, 2025, and $1.8 billion at September 30, 2024 [5] Net Interest Income and Margin - Net interest income for Q3 2025 was $34.6 million, a 6% increase from Q2 2025 and a 69% increase from Q3 2024 [8] - Taxable equivalent net interest margin was 5.28% for Q3 2025, slightly down from 5.30% in Q2 2025 but up from 4.93% in Q3 2024 [10] Loan and Asset Quality - Gross loans increased by $17.2 million from Q2 2025 and $732.7 million (53%) from Q3 2024, driven by construction loans and the Merger [21] - Nonaccrual loans totaled $14.4 million, accounting for 0.67% of gross loans at September 30, 2025 [22] Allowance for Credit Losses - The allowance for credit losses was $37.1 million at September 30, 2025, representing 1.74% of total loans, an increase from 1.59% in Q2 2025 [23] Liquidity Position - As of September 30, 2025, net available liquidity sources were $1.6 billion, exceeding uninsured and uncollateralized deposits of $1.2 billion, with a coverage ratio of 132% [17] Investment Portfolio - The investment portfolio increased to $434.6 million as of September 30, 2025, primarily due to purchases of $90.3 million [19] - Net unrealized losses on AFS securities improved to $9.5 million at September 30, 2025, from $13.8 million at June 30, 2025 [20]