SVB&T Corporation, Parent Company of Springs Valley Bank & Trust Company, Reports 2026 First Quarter Earnings

Net interest income before provision expense for the first quarter ended March 31, 2026 was $5.92 million compared to $4.70 million for the same period in 2025. Interest income increased $466,000 compared to the prior year first quarter, primarily due to higher loan balances and increased yields on loans resulting from the elevated rate environment relative to the interest rate lows of 2020 and 2021 and assets repricing. Interest expense decreased $753,000 compared to the same prior year quarter, due largely to lower rates on deposits resulting from the Federal Reserve’s federal funds rate reductions in 2025. Provision expense increased by $175,000 compared to the prior year first quarter. Additionally, noninterest income increased approximately $226,000 to $2.86 million from $2.64 million. The higher income can be attributed to increased revenue compared to the prior year first quarter from the Financial Advisory Group and sold mortgages. As has been in the past, noninterest income generation continues to be a strategic focus of SVB&T’s by growing the Financial Advisory Group, increasing sold loan income, expanding electronic banking services, and other avenues, to continue to reduce margin dependence. Noninterest expense increased $235,000 to $4.94 million from $4.70 million, attributable to increases in general operating expenses, the largest of which being increased core processing and information technology and cyber security support expenditures. 

Quarter over trailing quarter earnings increased approximately $989,000 or 49.52%. The earnings increase was largely driven by increased income from sold mortgages and servicing on sold loans, as well as reduced interest expense and employee benefits expenses, including health insurance, during the first quarter of 2026. SVB&T Corporation book value has increased from $60.06 per share as of March 31, 2025, to $69.78 as of March 31, 2026, a 16.18% increase. 

SVB&T Corporation stock closed at $61.52 per share on the OTCQX exchange on March 31, 2026. In May of 2025, the Corporation’s Board of Directors reauthorized a share repurchase program through June 1, 2027. Under the program, the Corporation is authorized to repurchase, from time to time as the Corporation deems appropriate, shares of SVB&T Corporation’s common stock with an aggregate purchase price of up to $1.00 million. As of the end of the first quarter of 2026, 2,100 shares have been repurchased under the newly reapproved plan, with an average purchase price of $47.03. 

Total assets decreased $706,000 to $642.77 million on March 31, 2026, compared to December 31, 2025 assets of $643.48 million. Total loans before allowance increased $15.09 million to $509.18 million on March 31, 2026, from $494.09 million on December 31, 2025. The growth in loans in 2026 occurred primarily in commercial real estate and commercial lines of credit, as excess cash held throughout much of 2025 was deployed in those areas. Springs Valley has experienced healthy loan demand in 2026; however, the Bank is strategically preserving liquidity for high quality credits, as well as managing loan growth to alleviate some of the pressure on the funding side of the balance sheet as cost of funds remain elevated. Allowance as a percent of total loans was 1.45% as of March 31, 2026, compared to 1.37% as of December 31, 2025. Total deposits decreased $2.62 million to $559.83 million on March 31, 2026, from $562.45 million on December 31, 2025. Noninterest-bearing deposits increased by approximately $3.56 million, while interest-bearing deposits decreased by approximately $6.18 million. Core deposit growth continues to be a strategic focus of Springs Valley’s as it is a critical component in generating sustainable, long-term profitability for the institution.