Quarterly ResultMay 12, 2026, 09:56 AM
Magnolia Bancorp Q1 Net Loss Widens to $(69)K
AI Summary
Magnolia Bancorp, Inc. reported a net loss of $(69)K for the first quarter of 2026, a significant increase from the $(30)K net loss in the same period last year. The loss per share also widened to $(0.09) from $(0.04). While total assets saw a slight increase, stockholders' equity experienced a minor decrease. The company's net interest income improved, but this was offset by a rise in noninterest expenses, particularly salaries and employee benefits. Despite the increased loss, the Association maintains a strong regulatory capital position, categorized as 'well capitalized'.
Key Highlights
- Net loss for Q1 2026 widened to $(69)K, compared to $(30)K in Q1 2025.
- Loss per share increased to $(0.09) in Q1 2026 from $(0.04) in Q1 2025.
- Total assets increased to $37.56 million at March 31, 2026, from $37.40 million at December 31, 2025.
- Total stockholders' equity decreased to $19.93 million at March 31, 2026, from $20.00 million at December 31, 2025.
- Net interest income increased to $340K in Q1 2026 from $329K in Q1 2025.
- Total noninterest expense rose to $417K in Q1 2026 from $376K in Q1 2025.
- The Association remains 'well capitalized' with a Tier 1 Leverage Ratio of 46.00% at March 31, 2026.
- Loans receivable, net, slightly decreased to $30.44 million from $30.72 million.