blueharbor bank Reports Fourth Quarter 2025 Net Income

Core Insights - blueharbor bank reported a significant increase in net income for the fourth quarter of 2025, reaching $3,224,028 or $1.07 per diluted share, which is a 53% increase compared to the same quarter in 2024 [3] - For the full year 2025, net income was $10,981,792, representing a 62% increase from $6,786,909 in 2024 [3] Financial Performance - Total assets increased by $100 million, or 20%, to $606.8 million as of December 31, 2025, compared to $506.8 million in 2024 [4] - Gross loans rose by $88.8 million, or 21%, to $521.5 million at the end of 2025, up from $432.8 million in 2024 [4] - Total deposits increased by $92.8 million, or 21%, to $533.6 million as of December 31, 2025, compared to $440.7 million in 2024 [4] - Total shareholders' equity grew by $10.1 million, or 18%, to $65.3 million at the end of 2025, up from $55.2 million in 2024 [4] Asset Quality and Capital - Asset quality remained strong with no non-performing assets reported as of December 31, 2025 [5] - Capital levels were solid, with total risk-based capital at 13.8% and both common equity tier 1 and tier 1 to risk-weighted assets at 12.8% [5] Income and Expenses - Net interest income for the fourth quarter was $6,073,374, an increase of 28% from the same period in 2024 [6] - For the full year, net interest income was $22,052,835, a 27% increase compared to $17,338,217 in 2024 [6] - Noninterest income for the fourth quarter was $606,193, a 6% increase from $573,112 in the same quarter of 2024 [8] - Noninterest expense decreased by 3% to $2,382,019 for the fourth quarter, down from $2,453,365 in 2024 [9] Efficiency and Ratios - The efficiency ratio improved to 35.66% for the full year 2025, compared to 39.2% in 2024 [10] - Return on average assets (ROA) was 2.18% and return on average equity (ROE) was 19.84% for the year [10][14] - The net interest margin remained high at 4.30% [10][14]