Executive Summary

Q3 2025 net income available to common shareholders was $2.7M with $0.38 EPS; reported net income was $2.9M, modestly down year-over-year from $3.0M and $0.39 EPS in Q3 2024, while sequential EPS was flat vs Q2 2025 ($0.38) .
Consolidated assets increased to $1.22B at quarter-end, up from $1.17B at June 30 and $1.13B at year-end 2024, reflecting continued balance sheet growth through 2025 .
The Board declared a 3% stock dividend payable December 1, 2025; all current and prior EPS figures were retroactively adjusted for the dividend, which is a shareholder-friendly capital action and a potential near-term catalyst .
No Wall Street consensus EPS or revenue estimates were available for Q3, limiting the ability to frame the quarter as a beat/miss versus expectations (Values retrieved from S&P Global).*

What Went Well and What Went Wrong

What Went Well

Continued balance sheet expansion: assets reached $1.22B at 9/30/25 vs $1.17B at 6/30/25 and $1.13B at 12/31/24, highlighting consistent growth year-to-date .
Year-to-date profitability improved: nine-month net income was $8.3M vs $7.6M in 2024; net income to common $7.8M ($1.08/share) vs $7.2M ($0.97/share), reflecting stronger earnings power through 2025 .
Management emphasized operating momentum mid-year: “Our financial performance through the first six months of 2025 continues to excel… Net interest margin stood at 3.56%… Total loans reached $687M… Deposits increased…” .

What Went Wrong

Q3 quarterly net income to common declined year-over-year to $2.7M ($0.38) from $2.9M ($0.39) despite asset growth, indicating some pressure versus the prior-year quarter .
Sequential operating commentary was limited in the Q3 release (no detailed margin or loan mix disclosures), reducing transparency on drivers versus Q2’s detailed shareholder letter .
Absence of an earnings call transcript and lack of consensus estimates hindered investor triangulation on guidance and expectations (Values retrieved from S&P Global).*

Financial Results

Quarterly Income and EPS

Metric	Q1 2025	Q2 2025	Q3 2025
Net Income ($USD Millions)	$2.6	$2.8	$2.9
Net Income to Common ($USD Millions)	$2.4	$2.7	$2.7
Diluted EPS ($USD)	$0.34	$0.38	$0.38

Quarterly Revenues and Margins

Metric	Q1 2025	Q2 2025	Q3 2025
Revenues ($USD Millions)	$2.38*	$2.71*	$2.91*
Net Income Margin (%)	21.55%*	22.01%*	21.78%*

Values marked with * retrieved from S&P Global.

Balance Sheet KPIs

KPI	Q1 2025	Q2 2025	Q3 2025
Total Assets ($USD Billions)	$1.16	$1.17	$1.22
Net Interest Margin (%)	N/A	3.56	N/A
Total Loans ($USD Millions)	N/A	$687	N/A
Total Deposits ($USD Millions)	N/A	+$38.3 YoY increase noted	N/A

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Stock Dividend	Payable Dec 1, 2025	None disclosed	3% stock dividend declared; EPS adjusted retroactively	New

No explicit forward guidance (revenue, margins, OpEx, tax rate, segment) was provided in the Q3 materials .

Earnings Call Themes & Trends

No Q3 2025 earnings call transcript was available; themes reflect prior disclosures.

Topic	Previous Mentions (Q-2 and Q-1)	Current Period (Q3 2025)	Trend
Net Interest Margin	Q1: “improvement… due to… growth in the loan portfolio”; Q2 NIM 3.56%	Not disclosed in Q3	Positive YoY, limited Q3 detail
Loan Growth	Loans $687M in Q2 (+7.2% YoY)	Not disclosed in Q3	Solid through mid-year; Q3 unreported
Deposits	Q2 deposits +3.7% YoY	Not disclosed in Q3	Stable growth through mid-year
Capital Actions	No mid-year stock actions; strong ROE 17.3% in Q2	3% stock dividend declared	Capital return stepped up in Q3
Community/ESG	Q2 letter highlighted community initiatives	Not mentioned in Q3 release	Ongoing but not reiterated
Macro Commentary	Q2 letter: “economic environment… continues to present challenges”	No macro commentary in Q3	Cautious tone persists

Management Commentary

“Our financial performance through the first six months of 2025 continues to excel… Net interest margin stood at 3.56%, compared to 3.42% in Q2 2024.”
“Total loans reached $687M… Deposits increased by $38.3M, or 3.7%, from Q2 2024.”
“The year-over-year improvement in net income as of March 31, 2025 is due to improvement in net interest margin resulting from increased earnings on growth in the loan portfolio.”
Q3 action: “Board of Directors has declared a 3% stock dividend… Current and prior year earnings per share reported above have been adjusted retroactively…”

Q&A Highlights

No Q3 2025 earnings call transcript located; no Q&A themes or guidance clarifications available from a call [ListDocuments result showing zero transcripts].

Estimates Context

No S&P Global consensus EPS or revenue estimates were available for Q3 2025; as such, no beat/miss determination versus Wall Street is possible (Values retrieved from S&P Global).*
Reported Q3 EPS was $0.38 (adjusted for the 3% stock dividend); investors should rely on company-reported figures for performance assessment in absence of consensus .

Key Takeaways for Investors

Steady quarterly earnings: Q3 net income to common $2.7M and $0.38 EPS; flat sequentially vs Q2 and slightly lower year-over-year, indicating resilient profitability despite macro challenges .
Balance sheet momentum: assets climbed to $1.22B, continuing growth from $1.17B in Q2 and $1.13B at year-end 2024, a constructive backdrop for future earnings capacity .
Capital return: the 3% stock dividend is a shareholder-friendly move and may support liquidity and investor interest in the near term; EPS figures are retroactively adjusted .
Mid-year operating metrics were strong: NIM at 3.56%, loans at $687M, and deposits up year-over-year, positioning the franchise well entering Q3 even though detailed Q3 drivers were not disclosed .
Limited external coverage: absence of S&P Global consensus estimates and a Q3 earnings call constrain the ability to benchmark and may reduce short-term volatility tied to “beats/misses” (Values retrieved from S&P Global).*
Focus areas into Q4: monitor NIM trajectory, loan/deposit mix trends, and any subsequent capital actions or disclosures to gauge earnings durability and ROE momentum .
Tactical implication: without consensus and call color, price action may hinge on capital actions (e.g., stock dividend) and subsequent disclosures; continue to track regulatory and macro commentary given management’s cautious tone earlier in 2025 .