Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported 24% higher diluted earnings per share in the first half of 2025 compared to the first half of 2024. Year-to-date and as of June 30, 2025, highlights include:
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Income/Profitability:
— Net income of $9.4 million: 25% higher than $7.5 million year-over-year
— Diluted earnings per share of $1.89: 24% higher than $1.53 in the same period of 2024
— Pre-tax pre-provision income of $14.5 million: 31% higher than $11.1 million in the first half of 2024
— Revenue of $39.8 million: 18% higher than $33.9 million in the same period of 2024
— 2% linked-quarter growth and 23% year-over-year growth in net interest income
— 4% linked-quarter decline and 10% year-over-year growth in trust and wealth fees
— Non-interest expenses of $25.3 million: 11% higher year-over-year
— ROAE of 14.5%
— ROAA of 1.0%
Wealth Assets/Balance Sheet:
— Wealth assets of $2.4 billion, 10% higher than $2.2 billion one year prior
— Year-over-year loan growth of 15% on average basis and 10% on period end basis to $1.5 billion
— Year-over-year deposit growth of 16% on average basis and 12% on period end basis to $1.6 billion
Safety and Soundness:
— Credit quality metrics:
— $0.5 million non-performing loans
— $0 past due +90 loans
— $5.4 million ORE
— 1.2% allowance for credit losses as percentage of loans, net
— Capital ratios
— Total risk-based capital: 12.1%
— CET1: 10.9%
— Tier 1 leverage: 9.7%
Oakworth's Chairman and CEO Scott Reedstated,”We continue to see positive momentum from our investments in people, processes and technology in new and existing markets. We look forward to serving our clients and accelerating revenue in the back half of the year.”
About Oakworth Capital Inc. and Oakworth Capital Bank Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.
Oakworth has been ranked among American Banker's “Best Banks to Work for” for the past eight years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth's 2024 average Net Promoter Score (NPS) was 94 with a commensurate client retention rate of 95%. As of June 30, 2025, Oakworth had $1.8 billion in total assets, $1.5 billion in gross loans, $1.6 billion in deposits and $2.4 billion in wealth and trust assets under management. For more information, visitwww.oakworth.com.
OAKWORTH CAPITAL INC.WEALTH AND TRUST (Unaudited)(In millions) As of Change Change 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 6/30/2025 vs. 03/31/2025 06/30/2025 vs. 06/30/2024Wealth assets (non-balance sheet) $ 2,415 $ 2,285 $ 2,297 $ 2,308 $ 2,200 $ 130 6% $ 215 10%CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited)(in thousands) As of Change Change 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 6/30/2025 vs. 03/31/2025 06/30/2025 vs. 06/30/2024AssetsCash and due from banks $ 124,351 $ 100,968 $ 125,016 $ 117,265 $ 71,623 $ 23,383 23% $ 52,728 74%Federal funds sold 1,900 525 950 1,950 75 1,375 262% 1,825 2433%Securities available for sale 175,535 175,599 158,885 156,926 151,379 (64) 0% 24,156 16%Loans, net of unearned income 1,496,222 1,492,413 1,455,238 1,411,569 1,357,150 3,809 0% 139,072 10%Allowance for credit losses (17,944) (17,015) (16,330) (16,494) (15,895) (929) 5% (2,049) 13%Loans, net 1,478,278 1,475,398 1,438,908 1,395,075 1,341,255 2,880 0% 137,023 10%Fixed assets 3,980 4,221 4,420 4,647 4,820 (241) -6% (840) -17%Interest receivable 6,611 6,909 6,678 6,478 6,903 (298) -4% (292) -4%Other assets 58,967 53,866 54,084 54,396 56,200 5,101 9% 2,767 5%Total assets $ 1,849,622 $ 1,817,486 $ 1,788,941 $ 1,736,737 $ 1,632,255 $ 32,136 2% $ 217,367 13%Liabilities and Stockholders' EquityLiabilities:Deposits:Non-interest bearing deposits $ 273,119 $ 270,536 $ 274,872 $ 255,008 $ 274,968 $ 2,583 1% $ (1,849) -1%Interest-bearing deposits 1,299,175 1,356,172 1,321,864 1,268,998 1,124,013 (56,997) -4% 175,162 16%Total deposits 1,572,294 1,626,708 1,596,736 1,524,006 1,398,981 (54,414) -3% 173,313 12%Total Borrowings 118,786 38,763 39,296 64,273 94,250 80,023 206% 24,536 26%Accrued interest payable 1,452 559 1,149 643 1,517 893 160% (65) -4%Other liabilities 21,333 20,382 26,964 22,018 19,474 951 5% 1,859 10%Total liabilities 1,713,865 1,686,412 1,664,145 1,610,940 1,514,222 27,453 2% 199,643 13%Total stockholders' equity 135,757 131,074 124,796 125,797 118,033 4,683 4% 17,724 15%Total liabilities and stockholders' equity $ 1,849,622 $ 1,817,486 $ 1,788,941 $ 1,736,737 $ 1,632,255 $ 32,136 2% $ 217,367 13%
OAKWORTH CAPITAL INC.CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)(in thousands) Quarter Ended Change Change 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 2Q25 vs. 1Q25 2Q25 vs. 2Q24Interest income:Loans, including fees $ 25,306 $ 24,803 $ 25,141 $ 25,423 $ 23,505 $ 503 2% $ 1,801 8%Securities available for sale 1,605 1,474 1,257 1,187 1,101 131 9% 504 46%Short term investments 1,043 1,169 1,222 837 982 (126) -11% 61 6%Total interest income 27,954 27,446 27,620 27,447 25,588 508 2% 2,366 9%Interest expense:Deposits 11,049 11,268 11,807 12,296 11,429 (219) -2% (380) -3%Borrowings 1,022 637 804 1,253 1,044 385 60% (22) -2%Total interest expense 12,071 11,905 12,611 13,549 12,473 166 1% (402) -3%Net interest income 15,883 15,541 15,009 13,898 13,115 342 2% 2,768 21%Provision for credit losses 1,236 775 1,080 599 847 461 59% 389 46%Net interest income after provision 14,647 14,766 13,929 13,299 12,268 (119) -1% 2,379 19%for loan lossesNon-interest income 4,131 4,245 4,108 3,943 4,051 (114) -3% 80 2%Non-interest expense 12,964 12,325 12,721 11,638 11,497 639 5% 1,467 13%Income before income taxes 5,814 6,686 5,316 5,604 4,822 (872) -13% 992 21%Provision for income taxes 1,434 1,655 1,236 1,458 1,204 (221) -13% 230 19%Net Income 4,380 5,031 4,080 4,146 3,618 (651) -13% 762 21%Earnings per share – basic $ 0.88 $ 1.01 $ 0.82 $ 0.84 $ 0.73 $ (0.13) -13% $ 0.15 21%Earnings per share – diluted $ 0.88 $ 1.01 $ 0.82 $ 0.84 $ 0.73 $ (0.13) -13% $ 0.15 21%
OAKWORTH CAPITAL INC.CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)(in thousands) YTD Period Ended 6/30/2025 6/30/2024 ChangeInterest income:Loans, including fees $ 50,108 $ 45,560 $ 4,548 10%Securities available for sale 3,080 2,132 948 44%Short term investments 2,212 2,116 96 5%Total interest income 55,400 49,808 5,592 11%Interest expense:Deposits 22,317 22,618 (301) -1%Borrowings 1,659 1,592 67 4%Total interest expense 23,976 24,210 (234) -1%Net interest income 31,424 25,598 5,826 23%Provision for credit losses 2,011 1,243 768 62%Net interest income after provision 29,413 24,355 5,058 21%for loan lossesNon-interest income 8,376 8,271 105 1%Non-interest expense 25,289 22,817 2,472 11%Income before income taxes 12,500 9,809 2,691 27%Provision for income taxes 3,089 2,261 828 37%Net Income 9,411 7,548 1,863 25%Earnings per share – basic $ 1.89 $ 1.53 $ 0.36 24%Earnings per share – diluted $ 1.89 $ 1.53 $ 0.36 24%
For more information contact:Jenifer KimbroughPhone: 205-263-4704Email: jenifer.kimbrough@oakworth.com
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SOURCE Oakworth Capital Inc.
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