0001104659-26-059963
SEC filingNet income rose 39.3% to $2.8M, driven by higher net interest income and improved operating efficiency.
Net income for the first quarter of 2026 was $2.8 million, compared to $2.0 million in the same period last year, an increase of 39.3%. Diluted earnings per share rose to $0.55 from $0.40, reflecting the higher net income. The improvement was driven by growth in net interest income and effective expense management.
The company continues to monitor borrower financial strength closely. Historical credit loss experience provides the basis for estimating expected credit losses, and expected recoveries do not exceed amounts previously charged-off. Management believes the company has sufficient liquidity and capital to absorb losses that may occur.