VABK Q1 net income +17% to $5.3M on margin expansion, lower costs; ROAA up 18bp to 1.30%

Filed May 12, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

• high

  Net income rose 17% YoY to $5.3M ($0.97/share vs $0.83), driven by 12bp net interest margin expansion to 3.40% as deposit costs fell 20bp to 2.18%, and noninterest expense dropped 7.1% on renegotiated data processing contracts.

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

  Return on average assets improved 18bp to 1.30% and return on equity rose 29bp to 11.34%, reflecting stronger profitability and operating efficiency in Q1 2026.

  MD&A: ROAA and ROAE verify on EDGAR →
• medium

  Company released $336K of loan-loss reserves (vs $160K prior year) as construction loans converted to permanent mortgages and economic forecasts improved; ACL ratio declined 3bp to 0.64% of loans.

  MD&A: ACL Provision verify on EDGAR →