Core Viewpoint - Landmark Bancorp (LARK) has shown strong earnings growth and expanding margins, leading to a 3% increase in share price following the release of its fourth-quarter 2025 results [1] Banking Operations of Landmark Bancorp - Landmark Bancorp operates as the holding company for Landmark National Bank, focusing on community banking services in Kansas, with performance driven by net interest income, loan growth, and deposit trends [1] - In 2025, the company experienced higher asset yields, lower funding costs, and steady loan production, indicating robust balance sheet strength [1] Q4 Earnings - Landmark reported a net income of $4.7 million, or 77 cents per diluted share, compared to $3.3 million, or 54 cents per share, in the same quarter last year [2] - For the full year 2025, net earnings rose 44.4% year over year to $18.8 million, with diluted earnings per share increasing to $3.07 from $2.15 in 2024 [2] Net Interest Income - Net interest income for the fourth quarter reached $14.8 million, marking a 19.3% increase from the previous year [3] - The net interest margin expanded to 4.03%, reflecting a 52-basis-point improvement year over year and a 20-basis-point increase sequentially [3] - Total revenues increased by 2.9% to $18.7 million compared to the prior quarter [3] Loan & Deposit Trends - As of December 31, 2025, gross loans totaled $1.1 billion, slightly down from the prior quarter due to lower commercial and residential balances, but partially offset by growth in commercial real estate and agriculture loans [4] - Average loans for the full year grew by 11.5%, primarily driven by commercial real estate and residential mortgage production [4] Deposits - Total deposits increased by $63.4 million in the quarter to $1.4 billion, mainly due to growth in money market and checking accounts [5] - The loan-to-deposit ratio stood at 79.1% at year-end [5] Asset Quality & Capital Position - Non-performing loans totaled $10 million, or 0.90% of gross loans, at year-end [6] - The allowance for credit losses was $12.5 million, representing 1.12% of total gross loans [6] - Capital levels remained solid, with tangible common equity to tangible assets improving to 8.03% from 7.66% in the prior quarter [6] - Book value per share increased to $26.44, while tangible book value per share rose to $20.79 [6] Dividend Announcement - Landmark's board declared a quarterly cash dividend of 21 cents per share, payable on February 26, 2026, to shareholders of record as of February 12, 2026 [7] - Overall, Landmark Bancorp demonstrated strong year-over-year earnings growth in the fourth quarter, supported by margin expansion, steady loan production, and disciplined cost control [7]

Core Viewpoint - Riverview Bancorp, Inc. has announced a stock repurchase program aimed at enhancing shareholder value by repurchasing up to $4.0 million of its outstanding shares [1][2][3] Group 1: Stock Repurchase Program - The company plans to repurchase shares in the open market or through privately negotiated transactions, with the program effective until the earlier of completion or 12 months from the effective date [2] - The decision to double the size of the stock repurchase program reflects a disciplined approach to deploying excess capital and is seen as a prudent use of capital to strengthen shareholder value [3] Group 2: Management and Trading Plan - The Board of Directors has authorized management to enter into a trading plan with Keefe, Bruyette & Woods, Inc. under Rule 10b5-1 to facilitate the repurchase of common stock [4] - This plan allows the company to execute trades during periods when it might otherwise be restricted due to possession of material non-public information or insider trading laws [4] Group 3: Company Overview - Riverview Bancorp, Inc. is headquartered in Vancouver, Washington, with assets totaling $1.51 billion as of December 31, 2025, and operates 17 branches [5] - The company has been recognized as the Best Bank by readers of local publications for the past 11 years, indicating a strong community presence and customer satisfaction [5]

Core Insights - Riverview Bancorp reported a net income of $1.4 million, or $0.07 per diluted share, for the third fiscal quarter ended December 31, 2025, showing an increase from $1.1 million, or $0.05 per diluted share, in the previous quarter and $1.2 million, or $0.06 per diluted share, in the same quarter last year [3][4]. Financial Performance - Net interest income for the quarter was $10.5 million, up from $9.4 million in the same quarter last year, with a net interest margin of 2.96%, an increase from 2.60% year-over-year [10][11]. - Non-interest income was $3.5 million for the quarter, slightly up from $3.3 million in the same quarter last year [14]. - Non-interest expense was $12.2 million, compared to $11.2 million in the same quarter last year, reflecting strategic investments in business banking and technology [16]. Asset Quality - Non-performing assets were reported at 0.07% of total assets and 0.10% of total loans as of December 31, 2025, indicating stable credit quality [25][40]. - The allowance for credit losses was $15.3 million, representing 1.41% of total loans, a slight decrease from 1.47% a year earlier [28]. Capital and Liquidity - Shareholders' equity increased to $164.2 million, with a tangible book value per share of $6.62, up from $6.20 a year earlier [24]. - The company maintained a total risk-based capital ratio of 16.35% and a Tier 1 leverage ratio of 11.24%, indicating strong capital levels [29]. Market Position - Riverview Bancorp operates in a dynamic market in Southwest Washington, benefiting from a diversified economy and strong employment levels, which support community-focused lending and deposit growth [8][9]. - The company is focused on expanding commercial and industrial loans, enhancing treasury management platforms, and creating lasting value for shareholders [5][7].

Core Viewpoint - Peoples Bancorp of North Carolina, Inc. (PEBK) has shown strong short-term stock performance, gaining 25.6% over the past six months, significantly outperforming the industry and major indices [1][7]. Financial Performance - In the third quarter of 2025, PEBK reported steady year-over-year earnings, driven by higher net interest income from loan growth and improved interest spreads [2]. - The company demonstrated disciplined expense management, although this was partially offset by a higher provision for credit losses [2]. Asset Quality and Liquidity - Management emphasized stable asset quality and continued deposit growth, which has strengthened liquidity [3]. - PEBK's capital levels remain solid, supporting balance-sheet expansion in a gradually moderating interest-rate environment [3]. Competitive Position - Over the past six months, PEBK has outperformed peers such as Affinity Bancshares, Inc. (AFBI) and C&F Financial Corporation (CFFI), which gained 7.9% and 6.6%, respectively [7]. - The company benefits from a relationship-driven community banking model, enhancing liquidity and reducing reliance on higher-cost funding [9]. Revenue Streams - Beyond traditional banking, PEBK generates fee-based revenue through its appraisal management subsidiary, Community Bank Real Estate Solutions, LLC (CBRES), which provides a non-interest income stream less sensitive to rate cycles [10]. - This contribution helps offset margin pressure during periods of rate volatility and improves overall revenue consistency [10]. Risk Management - PEBK's conservative underwriting practices and active credit monitoring have supported stable asset quality across economic cycles [11]. - Management's focus on maintaining strong capital and liquidity levels allows the company to absorb credit costs and support balance-sheet growth [11]. Challenges - The company faces challenges in a difficult interest-rate environment, where faster repricing of deposits relative to earning assets can pressure net interest margins and profitability [12]. - Elevated unrealized losses within the investment securities portfolio due to higher interest rates constrain accumulated other comprehensive income and reduce balance-sheet flexibility [12]. Valuation - PEBK's trailing 12-month price-to-sales (P/S) ratio of 1.8X is lower than the industry's average of 3.5X but higher than its five-year median of 1.7X [13]. - Affinity Bancshares and C&F Financial's trailing 12-month P/S ratios stand at 2.5X and 1.3X, respectively [14]. Investment Outlook - PEBK is well-positioned with a stable community banking franchise, disciplined risk management, and diversified revenue streams, providing earnings durability across rate cycles [15]. - While near-term margin pressure and balance-sheet sensitivity to interest-rate movements are key considerations, the company's solid capital position and liquidity offer meaningful downside protection [15]. - The stock appears better suited for existing investors to hold, while prospective investors may prefer to await a more attractive entry point [16].

Dividends - Old Second Bancorp pays an annual dividend of $0.28 per share with a dividend yield of 1.4% while First Busey pays an annual dividend of $1.00 per share with a dividend yield of 4.0% [1] - Old Second Bancorp pays out 18.5% of its earnings as dividends, whereas First Busey pays out 87.0%, indicating potential future sustainability issues for First Busey [1] - First Busey has a longer track record of dividend growth, having raised its dividend for 10 consecutive years compared to Old Second Bancorp's 1 year [1] Insider & Institutional Ownership - 67.8% of Old Second Bancorp shares are owned by institutional investors, compared to 56.5% for First Busey [2] - Company insiders own 3.8% of Old Second Bancorp shares, while First Busey insiders own 3.9% [2] Valuation & Earnings - Old Second Bancorp has gross revenue of $341.72 million and net income of $85.26 million, with an earnings per share (EPS) of $1.51 and a price-to-earnings (P/E) ratio of 13.58 [4] - First Busey has gross revenue of $663.36 million and net income of $113.69 million, with an EPS of $1.15 and a P/E ratio of 21.89 [4][5] - Old Second Bancorp is trading at a lower P/E ratio, indicating it is more affordable compared to First Busey [5] Profitability - Old Second Bancorp has a net margin of 18.89%, return on equity of 12.34%, and return on assets of 1.51% [8] - First Busey has a net margin of 11.00%, return on equity of 9.05%, and return on assets of 1.11% [8] Analyst Recommendations - Old Second Bancorp has a consensus target price of $21.63, indicating a potential upside of 5.44%, while First Busey has a target price of $26.33 with a potential upside of 4.62% [10] - Old Second Bancorp has a stronger consensus rating with a score of 3.00 compared to First Busey's score of 2.43 [10] Summary - Old Second Bancorp outperforms First Busey in 11 out of 18 factors compared between the two stocks [11]

Group 1 - K. Wayne Wicker has been elected treasurer of the 2025-2026 American Bankers Association (ABA) board of directors [1] - Wicker has over 38 years of banking experience and has served on the ABA board since 2022, becoming treasurer in 2024 [2] - The ABA's annual convention recently elected new officers and directors, emphasizing the importance of their roles in shaping advocacy priorities for America's banks [4] Group 2 - South Atlantic Bancshares, Inc. is a registered bank holding company based in Myrtle Beach, South Carolina, with over $1.9 billion in total assets [5] - The company's banking subsidiary, South Atlantic Bank, operates twelve offices across various locations in South Carolina, providing personalized community banking services [5] - South Atlantic Bank offers a full range of consumer and commercial banking products, including mortgage and treasury management services [5]

Financial Performance & Guidance - The company reported strong Q3 2025 financial results, with a net income available to common shareholders of $20.1 million[13] - Diluted earnings per common share increased by 16.5% from $0.85 in 2Q25 to $0.99 in 3Q25[14] - The company's full-year NIM is expected to be between 3.50% and 3.55%, and noninterest income is expected to exceed $42 million in 2025[9] - The efficiency ratio is expected to be below 59% for the year, and the effective tax rate is projected to be between 18% and 19%[9] - The company anticipates approximately 3% annual loan growth, driven by commercial loans[9] Balance Sheet & Portfolio - Total deposits were $5.36 billion, up 3.9% from the linked quarter and 1.0% from the previous year[14, 16] - Total loans reached $4.59 billion, a 1.2% increase during the quarter[14] - The securities portfolio stood at $1.01 billion as of 9/30/25[43] - Commercial loans totaled $2.99 billion with committed credit exposure of $3.97 billion at 9/30/25[23] Asset Quality - NCOs to average loans decreased to 18 bps, down from 36 bps in the linked quarter[14] - Allowance for credit losses to total loans was 1.03% at 9/30/25[74]

Core Viewpoint - Zacks Investment Research has initiated coverage of Peoples Bancorp of North Carolina, Inc. (PEBK) with a "Neutral" recommendation, reflecting a mixed outlook for the company despite its progress in community banking services [1] Company Overview - Peoples Bancorp operates as a bank holding company for Peoples Bank, a state-chartered commercial bank established in 1912, providing community banking services primarily in the Catawba Valley and surrounding areas through 15 full-service banking offices and several loan production offices in North Carolina [2] Financial Performance - Peoples Bancorp has shown consistent earnings momentum in the first half of 2025, with second-quarter net income increasing by 5.6% year over year to $5.2 million, or 95 cents per share, driven by higher net interest and fee income [3] - Profitability metrics are strong, with a return on average assets of 1.23% and a return on equity of 15.08%, while net interest margin improved to 3.57% from 3.35% a year earlier, indicating effective asset-liability management [3] - Non-performing assets were only 0.28% of total assets as of June 30, 2025, reflecting strong asset quality and prudent credit provisioning [4] - Shareholders' equity rose to $144 million, representing 8.5% of total assets, showcasing healthy internal capital generation [4] Market Positioning - Peoples Bancorp's stock has outperformed its industry peers and the broader market over the past year, indicating that investors recognize its solid fundamentals and stable performance, although significant near-term growth or multiple expansion is not anticipated [6] - The company has a modest market capitalization of $149.7 million, which positions it within a promising but risky segment of the market [7]

Core Viewpoint - NBT Bancorp Inc. is set to release its financial results for the third quarter of 2025 on October 27, 2025, with a conference call scheduled for October 28, 2025, to discuss these results [1][2]. Company Overview - NBT Bancorp Inc. is a financial holding company based in Norwich, NY, with total assets amounting to $16.01 billion as of June 30, 2025 [3]. - The company operates primarily through NBT Bank, N.A., which is a full-service community bank, and has a network of 175 banking locations across New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut [3]. - NBT Bancorp also includes two financial services companies: EPIC Retirement Plan Services, a national benefits administration firm located in Rochester, NY, and NBT Insurance Agency, LLC, a full-service insurance agency based in Norwich, NY [3].

Core Viewpoint - Citizens Community Bancorp, Inc. reported a solid performance in Q2 2025 with earnings of $3.3 million, reflecting a slight increase from the previous quarter but a decrease compared to the same quarter last year. The company experienced improvements in net interest income and tangible book value, although provisions for credit losses increased significantly due to rising delinquencies and changes in macroeconomic assumptions. Financial Performance - Earnings for Q2 2025 were $3.3 million, or $0.33 per diluted share, compared to $3.2 million and $0.32 per diluted share in Q1 2025, and $3.7 million and $0.35 per diluted share in Q2 2024 [1][5] - For the first half of 2025, earnings totaled $6.5 million, down from $7.8 million in the same period last year [5] - Net interest income increased by $1.7 million to $13.3 million in Q2 2025, driven by interest income from loan payoffs and lower deposit costs [2][24] Balance Sheet and Asset Quality - Book value per share improved to $18.36 at June 30, 2025, from $18.02 at March 31, 2025, and $17.10 at June 30, 2024 [3] - The provision for credit losses was $1.35 million in Q2 2025, compared to a negative provision of $0.25 million in Q1 2025, largely due to a $9.3 million increase in delinquencies [2][8] - Nonperforming assets decreased by $1.5 million to $13.0 million at June 30, 2025, while special mention loans increased by $8.2 million to $23.2 million [17][19] Deposits and Liquidity - Total deposits decreased by $45.2 million to $1.48 billion during Q2 2025, reflecting seasonal shrinkage in public deposits and a decline in commercial deposits [9][19] - The on-balance sheet liquidity ratio was 12.17% of total assets at June 30, 2025, down from 14.38% at March 31, 2025 [10] Non-Interest Income and Expenses - Non-interest income increased by $0.2 million to $2.8 million in Q2 2025, primarily due to loan fees and gains on equity securities [6][31] - Non-interest expense rose by $0.3 million to $10.8 million, attributed to higher compensation costs [31] Efficiency and Capital Management - The efficiency ratio improved to 66% in Q2 2025 from 73% in Q1 2025, aided by recognized interest income from loan payoffs [9] - The Board of Directors authorized a new 5% common stock buyback program for 499,000 shares [23]