HARRISBURG, Pa., Jan. 06, 2026 (GLOBE NEWSWIRE) -- Orrstown Financial Advisors (OFA), a division of Orrstown Bank, is pleased to announce that Matthew Alpert joined the firm as Executive Vice President, Chief Wealth Officer, effective January 5, 2026. In this role, Mr. Alpert will lead OFA’s wealth management and trust operations, driving strategic growth and delivering exceptional wealth services to clients. Mr. Alpert brings extensive experience in wealth management, having previously served in senior le ...

Core Viewpoint - Valley National Bancorp reported strong financial performance in Q3 2025, with net income of $163.4 million, reflecting a significant increase from both the previous quarter and the same quarter last year [1][2]. Financial Performance - Net income for Q3 2025 was $163.4 million, or $0.28 per diluted share, compared to $133.2 million ($0.22 per share) in Q2 2025 and $97.9 million ($0.18 per share) in Q3 2024 [1]. - Adjusted net income, excluding non-core items, was $164.1 million for Q3 2025, up from $134.4 million in Q2 2025 and $96.8 million in Q3 2024 [1]. Net Interest Income and Margin - Net interest income on a tax-equivalent basis increased to $447.5 million in Q3 2025, up $13.8 million from Q2 2025 and $35.7 million from Q3 2024 [3][4]. - The net interest margin improved to 3.05% in Q3 2025, a 4 basis point increase from 3.01% in Q2 2025 and a 19 basis point increase from 2.86% in Q3 2024 [5]. Deposits - Total deposits rose by $450.5 million to $51.2 billion as of September 30, 2025, primarily due to inflows from commercial and government deposits [3][9]. - Non-interest bearing deposits remained stable at approximately $11.7 billion [9]. Loan Portfolio - Total loans decreased by $118.6 million, or 1.0% on an annualized basis, to $49.3 billion as of September 30, 2025, driven by declines in commercial real estate and commercial and industrial loans [3][6]. - Residential mortgage loans increased by $85.4 million to $5.8 billion, while total consumer loans rose by $50.7 million to $4.0 billion [8]. Credit Quality - The allowance for credit losses for loans was $598.6 million, representing 1.21% of total loans as of September 30, 2025 [11][17]. - Net loan charge-offs totaled $14.6 million in Q3 2025, a decrease from $37.8 million in Q2 2025 and $42.9 million in Q3 2024 [11][17]. Capital Adequacy - Total risk-based capital ratio was 13.83% as of September 30, 2025, up from 13.67% at June 30, 2025 [18]. - The company repurchased 1.3 million shares of common stock at an average price of $9.38 during the third quarter [18].

Core Viewpoint - Stock Yards Bancorp, Inc. reported strong financial performance for the second quarter of 2025, driven by significant loan growth and net interest margin expansion, resulting in record earnings of $34.0 million, or $1.15 per diluted share, compared to $27.6 million, or $0.94 per diluted share, in the same quarter of 2024 [1][2]. Financial Performance - Net income for Q2 2025 was $34.0 million, an increase of $6.4 million, or 23%, from Q2 2024 [2][5]. - Net interest income rose by $11.5 million, or 18%, to $73.5 million, attributed to strong growth in average earning assets and improved yields [5][10]. - Non-interest income increased by $693,000, or 3%, to $24.3 million compared to Q2 2024 [8][9]. Loan and Deposit Growth - Total loans increased by $779 million, or 13%, year-over-year, with a $204 million, or 3%, increase from the previous quarter [6][14]. - Deposit balances expanded by $938 million, or 14%, over the past 12 months, with a notable increase in interest-bearing deposits [16][28]. Net Interest Margin and Efficiency - Net interest margin expanded by 27 basis points year-over-year to 3.53%, driven by higher yields on earning assets and lower funding costs [2][10]. - The efficiency ratio improved to 53.83% from 57.26% in Q2 2024, indicating better operational efficiency [2][33]. Credit Quality - Provision for credit losses was recorded at $2.2 million, reflecting strong loan growth and a slightly deteriorating economic forecast [7][23]. - Non-performing loans totaled $18.0 million, or 0.26% of total loans, showing a slight improvement from 0.29% a year earlier [17][35]. Capital and Shareholder Returns - The company maintained a "well-capitalized" status with a tangible common equity ratio of 8.86% as of June 30, 2025 [18][29]. - A quarterly cash dividend of $0.31 per common share was declared, reflecting a commitment to returning value to shareholders [19][20]. Future Outlook - The company anticipates continued momentum in loan production and deposit growth, with expectations for net interest margin stability despite increased competition in the second half of the year [1][4].

Core Viewpoint - Washington Trust Bancorp, Inc. reported a positive performance in the second quarter of 2025, with net income increasing to $13.2 million, reflecting growth in net interest income, wealth management revenue, and mortgage banking revenue, while maintaining a well-capitalized position [1][2]. Financial Performance - Net income for Q2 2025 was $13.2 million, or $0.68 per diluted share, up from $12.2 million, or $0.63 per diluted share in Q1 2025 [1]. - Adjusted net income for Q1 2025 was $11.8 million, or $0.61 per diluted share [1]. - Net interest income for Q2 2025 was $37.2 million, an increase of $763 thousand, or 2%, from Q1 2025 [3]. - Noninterest income decreased to $17.1 million in Q2 2025, down by $5.6 million, or 24.6%, from Q1 2025 [3]. - Noninterest expense totaled $36.5 million in Q2 2025, down by $5.7 million, or 13%, from Q1 2025 [4]. Income Tax and Provision for Credit Losses - Income tax expense for Q2 2025 was $3.9 million, with an effective tax rate of 22.7%, compared to $3.5 million and 22.3% in Q1 2025 [5]. - A provision for credit losses of $600 thousand was recognized in Q2 2025, down from $1.2 million in Q1 2025 [6][13]. Wealth Management and Mortgage Banking - Wealth management revenues increased by 2% in Q2 2025, totaling $10.1 million [6]. - Mortgage banking revenues rose by 32% in Q2 2025, amounting to $3.0 million, reflecting a higher volume of loans sold to the secondary market [6][30]. Loans and Deposits - Total loans reached $5.1 billion at the end of Q2 2025, up by 1% from Q1 2025 [8]. - In-market deposits amounted to $5.0 billion, also up by 1% from Q1 2025 [8]. Asset Quality - Nonaccrual loans were $26.1 million, or 0.51% of total loans, at the end of Q2 2025, compared to $21.6 million, or 0.42% in Q1 2025 [10]. - Past due loans increased to $14.0 million, or 0.27% of total loans, from $10.2 million, or 0.20% in Q1 2025 [11]. Capital and Dividends - Total shareholders' equity was $527.5 million at the end of Q2 2025, up by $5.8 million, or 1%, from Q1 2025 [14]. - A quarterly dividend of 56 cents per share was declared for Q2 2025 [15]. Conference Call - Washington Trust will host a conference call on July 22, 2025, to discuss its second quarter results and outlook [16].

Core Insights - Washington Trust Bancorp, Inc. reported a net income of $12.2 million, or $0.63 per diluted share, for the first quarter of 2025, a significant recovery from a net loss of $60.8 million in the fourth quarter of 2024 [1][2][28]. Financial Performance - Net interest income for Q1 2025 was $36.4 million, an increase of $3.5 million, or 11%, from Q4 2024, with a net interest margin of 2.29%, up by 34 basis points from the previous quarter [3][29]. - Noninterest income was $22.6 million in Q1 2025, compared to a loss of $77.9 million in Q4 2024, while adjusted noninterest income was $15.6 million, down by $394 thousand, or 2%, from the preceding quarter [4][28]. - Noninterest expenses totaled $42.2 million, an increase of $7.9 million, or 23%, from Q4 2024, with adjusted noninterest expenses at $35.8 million, up by $1.5 million, or 4% [4][28]. Asset Quality - Nonaccrual loans were $21.6 million, or 0.42% of total loans, at March 31, 2025, down from $23.3 million, or 0.45%, at December 31, 2024 [13]. - The allowance for credit losses on loans was $41.1 million, or 0.81% of total loans, slightly down from $42.0 million, or 0.82%, at the end of the previous quarter [15]. Capital and Dividends - Total shareholders' equity increased to $521.7 million at March 31, 2025, up by $22.0 million, or 4%, from December 31, 2024 [17][18]. - The Board of Directors declared a quarterly dividend of $0.56 per share for the quarter ended March 31, 2025 [18]. Loan and Deposit Trends - Total loans amounted to $5.1 billion at March 31, 2025, down by $42 million, or 1%, from the end of the preceding quarter [9][37]. - In-market deposits increased to $5.0 billion, up by $195 million, or 4%, from December 31, 2024, largely due to increases in high-rate savings account balances [10][11]. Wealth Management and Mortgage Banking - Wealth management revenues decreased by 2% from the preceding quarter, totaling $9.9 million, with assets under administration at $6.8 billion, down by 4% from December 31, 2024 [6][33]. - Mortgage banking revenues totaled $2.3 million for Q1 2025, down by 19% from the preceding quarter, reflecting a lower volume of loans sold to the secondary market [6][34].