Net income up 393% to $2.2M as margin expands 40bp; BSA Consent Order removed, MOU persists

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

• high

  Net income rose from $455K to $2.2M (393% YoY), with EPS climbing from $0.11 to $0.52. ROA improved from 0.09% to 0.44% and ROE from 1.17% to 5.00%, driven by margin expansion and lower credit provisions.

  MD&A: Net income and profitability verify on EDGAR →
• high

  Net interest margin expanded 40 basis points YoY to 3.35% as deposit costs fell 21bp (from 1.83% to 1.62%) and CD rates declined 48bp. Yield on earning assets rose from 4.71% to 4.86%.

  MD&A: Net interest margin expansion verify on EDGAR →
• high

  The November 2023 BSA Consent Order no longer appears in the filing; only the August 2024 MOU is disclosed. The MOU restricts dividends without regulatory approval and remains in effect until terminated by the FDIC and DFI.

  MD&A: Regulatory developments verify on EDGAR →