Endeavor Bancorp Reports Record Net Income of $1.7 Million, for the Third Quarter of 2025; Results Highlighted by Steady Loan and Deposit Growth

Core Insights - Endeavor Bancorp reported a net income of $1.73 million, or $0.46 per diluted share, for Q3 2025, showing significant growth compared to $1.07 million, or $0.28 per diluted share, in Q2 2025 and $924,000, or $0.24 per diluted share, in Q3 2024 [1][2][19] Financial Performance - The company achieved a core pre-tax earnings of $2.86 million, a 25.4% increase from $2.28 million in the previous quarter and a 47.9% increase from $1.93 million in Q3 2024 [2][19] - Total interest income was $12.2 million, up $546,000 from the previous quarter, while net interest income rose to $7.7 million, reflecting a 4.0% increase from Q2 2025 and a 29.8% increase from Q3 2024 [3][19] - Non-interest income reached $401,000, marking a 45.6% increase from the previous quarter and an 84.8% increase from $217,000 in Q3 2024 [5][19] Asset Quality and Management - The provision for credit losses was $396,000, down from $746,000 in Q2 2025 and $609,000 in Q3 2024, indicating improved credit risk management [2][19] - Total loans outstanding increased by $6.7 million, or 1.1%, to $632.6 million, and non-performing loans decreased to 0.21% of the total loan portfolio [9][10][19] Balance Sheet Strength - Total assets grew by $13.3 million, or 1.8%, to $760.2 million, and total deposits increased by $10.9 million, or 1.6%, to $678.3 million [8][10][19] - Shareholders' equity rose to $51.0 million, with tangible book value per share increasing to $14.21 [12][19] Capital Ratios - The Tier 1 leverage ratio was 10.15%, while the Tier 1 risk-based capital ratio was 10.32%, both well above regulatory minimums [13][21]