On February 17, 2026, PMC FIG Opportunities disclosed a new position in Northeast Bank (NASDAQ:NBN), acquiring 32,745 shares worth $3.40 million at quarter-end. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, PMC FIG Opportunities initiated a new position in Northeast Bank, acquiring 32,745 shares. The quarter-end value of the position stood at $3.40 million. What else to know This was a new position for the fund, accounting for 5.35% of 13F report ...

Core Viewpoint - Bank7 executives expressed optimism regarding the company's performance in loan growth, loan fee income, and organic deposit growth for the fourth quarter and full-year 2025, achieved without loosening underwriting standards [4][7]. Loan Growth and Payoffs - The company anticipates approximately $25 million in payoffs per month and requires $35 million to $45 million in new fundings monthly to sustain growth [2][3]. - Payoff activity was described as "accelerated" throughout 2025, with fourth-quarter payoffs being lighter than earlier in the year, but expected to rebound in the first quarter [2][4]. Asset Quality and Underwriting - Management emphasized that strong underwriting discipline has supported asset quality, which is reportedly at its best level ever [4]. - The company did not feel the need to significantly increase provisioning despite strong balance sheet growth [4]. Capital Strategy - Bank7 is focusing on capital build and optionality rather than share repurchases, remaining selective in M&A and avoiding deals that do not meet pricing or asset-quality standards [5][13]. - The company evaluated multiple M&A opportunities but chose to walk away from all, emphasizing discipline around asset quality [15]. Net Interest Margin (NIM) - The net interest margin has compressed modestly after rate cuts, with a starting reference of approximately 4.45%, potentially drifting toward historical lows around 4.35% [6][9]. - Management noted that the recent rate cuts have not significantly impacted deposit betas, indicating a tougher deposit environment [12]. Deposit Competition - The cost of funds decreased to about 2.40% in the fourth quarter, influenced by balance sheet growth and new deposits [11]. - Depositors have become more rate-aware, leading to a decline in non-interest-bearing balances as customers opt for higher-rate options [12]. Oil and Gas Revenue - Contributions from oil and gas-related items are expected to decline gradually over the next three to four years, characterized as immaterial for the bank overall [16][17]. Financial Overview - Core expenses were reported at approximately $9.1 million, with an additional $1 million related to oil and gas [19].

Core Viewpoint - SR Bancorp, Inc. reported significant improvements in financial performance for the quarter and year ended June 30, 2025, with net income of $2.2 million for the quarter and $5.1 million for the year, compared to net losses in the previous year. The results were positively impacted by gains from life insurance proceeds and adjustments related to the acquisition of Regal Bancorp. Financial Performance Summary - For the three months ended June 30, 2025, net income was $2.2 million, or $0.28 per basic share, compared to a net loss of $3.0 million for the same period in 2024 [1][5] - For the year ended June 30, 2025, net income was $5.1 million, or $0.61 per share, compared to a net loss of $10.9 million for the previous year [2][15] Income and Expenses - Interest income increased by $319,000, or 2.8%, to $11.7 million for the quarter, driven by a $644,000 increase in interest income on loans [6] - Interest expense rose by $806,000, or 23.4%, to $4.3 million for the quarter, primarily due to increased interest on demand deposits [7] - Net interest income decreased by $487,000, or 6.1%, to $7.5 million for the quarter, with a net interest margin of 2.90% [8][9] Provision for Credit Losses - The provision for credit losses was $238,000 for the quarter, reflecting loan growth and adjustments based on updated historical loss factors, compared to $153,000 for the same period in 2024 [11][20] Noninterest Income and Expenses - Noninterest income increased by $5.9 million, or 152.2%, to $2.0 million for the quarter, primarily due to gains from life insurance proceeds [12] - Noninterest expense increased by $216,000, or 3.3%, to $6.8 million for the quarter, largely due to higher salaries and employee benefits [13] Balance Sheet Highlights - Total assets increased by $63.6 million, or 6.2%, to $1.08 billion at June 30, 2025, driven by loan growth [3][24] - Net loans increased by $65.3 million, or 8.9%, to $797.2 million, while total deposits rose by $38.9 million, or 4.8%, to $846.0 million [3][27] - Equity decreased by $5.7 million, or 2.9%, to $193.8 million, primarily due to stock repurchases [29] Recent Corporate Actions - The conversion of Somerset Savings Bank from mutual to stock form and the related stock offering were completed on September 19, 2023, followed by the merger with Regal Bancorp [4]

Financial Performance - The company reported a net income of $823,000, or $0.10 per share, for the three months ended June 30, 2025, a significant improvement from a net loss of $3.0 million for the same period in 2024 [1][6] - For the year ended June 30, 2025, net income was $3.7 million, compared to a net loss of $10.9 million for the year ended June 30, 2024 [2][16] - Excluding one-time expenses, net income for the year ended June 30, 2025 would have been $1.7 million [2] Asset and Loan Growth - Total assets increased by $62.2 million, or 6.1%, to $1.08 billion at June 30, 2025, driven by new loan originations [3][24] - Net loans rose by $65.5 million, or 8.9%, to $797.3 million at June 30, 2025, with increases in residential mortgage loans and multi-family loans [3][26] Deposit and Borrowing Activity - Total deposits increased by $38.9 million, or 4.8%, to $846.0 million at June 30, 2025, attributed to raised rates on interest-bearing deposit products [3][27] - The company borrowed $30.0 million from the Federal Home Loan Bank of New York to enhance liquidity for new loans [28] Interest Income and Expense - Interest income for the three months ended June 30, 2025, increased by $319,000, or 2.8%, to $11.7 million, primarily due to a rise in interest income on loans [7] - Interest expense rose by $806,000, or 23.4%, to $4.3 million for the same period, driven by increased interest on demand deposits and borrowings [8][9] Noninterest Income and Expense - Noninterest income increased by $4.4 million, or 113.4%, to $522,000 for the three months ended June 30, 2025, recovering from a loss of $3.9 million in the prior year [13] - Noninterest expense rose by $216,000, or 3.3%, to $6.8 million, mainly due to higher salaries and employee benefits [14] Credit Loss Provisions - The company recorded a provision for credit losses of $81,000 for the three months ended June 30, 2025, down from $153,000 in the same period of 2024 [12] - The allowance for credit losses as a percentage of total loans was 0.65% at June 30, 2025, compared to 0.71% at June 30, 2024 [12][20] Equity and Stock Activity - Total equity decreased by $7.1 million, or 3.6%, to $192.4 million at June 30, 2025, primarily due to the repurchase of common stock [29] - The company completed a stock offering and merger in September 2023, which contributed to its current financial structure [4][5]