SBSI Q2 net income +23% on lower NPAs, deposit cost cuts; wholesale funding shifts to FHLB/FRDW

Filed July 24, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 25, 2025 · ~2 min read

Key Changes

• high

  Net income rose 23% YoY to $26.8M (diluted EPS $0.90, up 25%) on higher net interest income, lower provision for credit losses, and improved asset quality.

  MD&A: Net Income verify on EDGAR →
• high

  Nonperforming assets fell 70% YoY to $9.8M (0.11% of assets) as a $27.5M restructured commercial real estate loan paid off, reversing the prior-year spike.

  MD&A: Asset Quality verify on EDGAR →
• high

  Company shifted $667M out of brokered deposits (down 99%) into FHLB borrowings (+$785M) and FRDW borrowings (+$245M), optimizing wholesale funding mix.

  MD&A: Funding Strategy verify on EDGAR →