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White River Bancshares Co. Reports Record Net Income of $5.1 million, or $1.04 Per Diluted Share, for the Third Quarter of 2026

globenewswire.com
WMT Walmart is mentioned as a major employer in Northwest Arkansas, with the company making a significant investment in its new headquarters campus. This is presented as a positive factor for the region's growth. TSN Tyson Foods is mentioned as a market-leading company with corporate headquarters in Northwest Arkansas, contributing to the region's economic strength.

White River Bancshares Co. Reports Record Net Income of $5.1 million, or $1.04 Per Diluted Share, for the Third Quarter of 2026 FAYETTEVILLE, Ark., Oct. 20, 2026 (GLOBE NEWSWIRE) -- White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income of $5.1 million, or $1.04 per diluted share, in the third quarter of 2026, compared to $4.2 million, or $0.85 per diluted share, in the second quarter of 2026, and $3.5 million, or $0.72 per diluted share, in the third quarter of 2025. In the first nine months of 2026, net income increased to $12.7 million, or $2.58 per diluted share, compared to $9.5 million, or $1.93 per diluted share, in the first nine months of 2025. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected in the form of a stock dividend on September 4, 2026.

“Our results continue to reflect the strength of our people and the communities we serve,” said Gary Head, Chief Executive Officer. “Our employees bring dedication and care to their work every day, and our clients and communities continue to place their trust in us. We are grateful to serve markets with such strong character and resilience, and we don’t take those relationships for granted. As we close out the year, we look forward to building on this success together with the people and places that make our bank what it is.”

“This quarter marked record earnings for the Company, the culmination of years of strategic planning and disciplined execution across the organization,” said Scott Sandlin, Chief Strategy Officer. “The results reflect the deliberate steps we have taken to strengthen our balance sheet, deepen client relationships and drive operational efficiencies throughout the business. It was a highly productive quarter, and we are proud of what our team has accomplished. Having reached this level of earnings reinforces our confidence in the strategies we’ve put in place, and we expect to continue building on this momentum in the quarter ahead.”

Third Quarter 2026 Financial Highlights:

Income Statement

The Company generated a return on average assets of 1.22% and a return on average equity of 16.40% in the third quarter of 2026 compared to 1.03% and 13.82%, respectively, in the second quarter of 2026 and 0.95% and 13.07%, respectively, in the third quarter of 2025.

“Net interest margin was stable compared with the prior quarter, as higher asset yields were offset by an increase in funding costs. Compared to a year ago, margin was down seven basis points, with lower funding costs only partially offsetting the decline in asset yields. We continue to manage deposit pricing with discipline as we navigate margin performance in the current rate environment,” said Brant Ward, President.

NIM remained consistent in the third quarter compared to the second quarter of 2026 at 3.59% and decreased seven basis points from 3.66% in the third quarter of 2025. For the first nine months of 2026, NIM was 3.56% which was up two basis points compared to the first nine months of 2025.

Net interest income increased 3.5% to $14.3 million in the third quarter of 2026, compared to $13.8 million in the second quarter of 2026, and increased 11.9% compared to $12.8 million in the third quarter of 2025. Total interest income increased 4.5% to $25.1 million in the third quarter of 2026, compared to $24.0 million in the second quarter of 2026, primarily attributable to modest increases in loans and investment securities, and increased 10.7% compared to $22.7 million in the third quarter a year ago. Total interest expense increased to $10.8 million in the third quarter of 2026, from $10.2 million in the second quarter of 2026, and $9.9 million in the third quarter a year ago. The increase in interest expense was largely due to higher deposit costs compared to both the prior quarter and the year-ago quarter. In the first nine months of 2026, net interest income increased 16.5% to $41.2 million, compared to $35.3 million in the first nine months of 2025.

Noninterest income was $2.5 million in the third quarter of 2026, nearly unchanged compared to the second quarter of 2026, and increased 13.5% compared to $2.2 million in the third quarter of 2025. Year-to-date, noninterest income increased 16.2% to $7.2 million, compared to $6.2 million in the same period a year earlier, with higher wealth management fee income largely contributing to the increase.

Noninterest expense was $10.1 million in the third quarter of 2026, compared to $10.2 million in the second quarter of 2026 and $10.0 million in the third quarter of 2025. Higher salaries and benefits expense contributed to the increase compared to the year ago quarter. In the first nine months of the year, noninterest expense increased to $30.8 million, compared to $27.4 million in the first nine months of 2025.

Balance Sheet

Total assets increased 10.6% to $1.647 billion at September 30, 2026, from $1.489 billion at September 30, 2025, and increased 0.9% compared to $1.632 billion at June 30, 2026.

Cash and cash equivalents totaled $26.2 million at September 30, 2026, compared to $26.7 million a year ago. Investment securities totaled $173.3 million at September 30, 2026, an increase from $151.2 million at September 30, 2025. Loans, net of allowance for credit losses, increased 10.9% to $1.375 billion at September 30, 2026, compared to $1.240 billion at September 30, 2025, and increased 2.8% compared to $1.338 billion at June 30, 2026.

Total deposits increased 11.4% to $1.432 billion at September 30, 2026, compared to $1.285 billion at September 30, 2025, and increased 0.1% compared to $1.430 billion at June 30, 2026. Demand and non-interest-bearing deposits increased 5.9%, savings and interest-bearing transaction accounts increased 19.4% and time deposits increased 7.0% compared to a year ago.

FHLB advances decreased to $24.4 million at September 30, 2026, compared to $34.4 million a year prior, and increased compared to $11.4 million at June 30, 2026. Total stockholders’ equity increased to $118.9 million at September 30, 2026, compared to $108.1 million at September 30, 2025, and $118.0 million at June 30, 2026. Tangible book value per common share increased to $24.10 at September 30, 2026, compared to $21.87 at September 30, 2025, and $23.91 at June 30, 2026. All per share data has been adjusted to reflect the two-for-one stock split effected in the form of a dividend on September 4, 2026.

Credit Quality

The Company did not record any provision for credit losses in the third quarter of 2026. This is compared to a $575,000 provision for credit losses in the second quarter of 2026, and a $375,000 provision for credit losses in the third quarter of 2025.

Nonperforming loans totaled approximately $480,000 at September 30, 2026. This compared to $532,000 in nonperforming loans at June 30, 2026, and $365,000 in nonperforming loans at September 30, 2025. Nonperforming loans represented 0.03% of total loans at September 30, 2026, compared to 0.04% at June 30, 2026, and 0.03% of total loans a year ago.

“Credit quality held up well this quarter, a result of our consistent underwriting standards and the resilience of the communities we serve. A significant net recovery, along with stable credit trends, meant no provision for credit losses was needed this quarter, even as loans continued to grow at a steady pace. We remain focused on managing the balance sheet with discipline,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $16.3 million, or 1.17% of total loans, at September 30, 2026, compared to $15.9 million, or 1.17% of total loans, at June 30, 2026, and $14.5 million, or 1.16% of total loans, at September 30, 2025.

Net loan recoveries were $474,000 in the third quarter of 2026, compared to net loan charge-offs of $45,000 in the second quarter of 2026, and net loan charge-offs of $143,000 in the third quarter of 2025.

Capital

The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 13.01%, a Tier 1 ratio of 11.76%, and a Leverage ratio of 9.64% for the Bank at September 30, 2026.

About White River Bancshares Company

White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV) trades on the OTCQX ® Best Market.

About the Region

White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Inc. (“Walmart”), Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Freeman Health System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley's Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $398,000 in September 2026, with an average of 51 days on the market. For Benton County, the average house sold for $472,000, with an average of 65 days on the market.

Source:

http://www.nwarealtors.org/market-statistics/

Forward Looking Statements

This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for credit losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; liquidity and the availability of wholesale funding; changes in the fair value of our investment securities; cybersecurity incidents; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Except as required by law, the Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:

Scott Sandlin, Chief Strategy Officer

479-684-3754