JMSB · John Marshall Bancorp, Inc.

John Marshall Bancorp delivered robust Q1 2026 results with net income rising 26.8% year-over-year to $6.1 million, fueled by significant net interest income growth of 17.1% to $16.5 million and continued net interest margin expansion to 2.87%, marking the eighth consecutive quarter of improvement. This margin growth, up 29 basis points from Q1 2025 and 14 basis points from Q4 2025, stemmed from strategic focus on core funding and loan expansion, with gross loans increasing 5.5% over the past twelve months to $1.97 billion, driven by construction & development and residential mortgage loans. Core deposits grew 3.4% YoY, with non-interest bearing demand deposits rising 5.9% QoQ to represent 23.1% of total deposits, enhancing funding cost efficiency. Positive operating leverage was evident as revenues grew 15.0% while non-interest expense increased only 8.2%, improving the efficiency ratio to 53.1%. Asset quality remained exceptional with no charge-offs or other real estate owned; the sole non-accrual is a $984 thousand SBA 7(a) loan fully guaranteed, with guaranty purchase submitted. Balance sheet strength is highlighted by total assets at $2.35 billion, liquidity at 37.5% of assets, and Bank's total risk-based capital ratio at 16.5%, well above well-capitalized thresholds. Capital returns included a 20% increased annualized quarterly dividend of $0.09 per share and repurchase of 103,507 shares at $19.69 average price. CEO Chris Bergstrom emphasized sustained margin improvement, loan growth capacity, and focus on client relationships to drive shareholder value, underscoring confidence in ongoing profitability amid strong capitalization.