Quarterly ResultMay 14, 2026, 04:23 PM
Seneca Bancorp Reports Q1 Net Loss of $50K; EPS $(0.03)
AI Summary
Seneca Bancorp, Inc. reported a net loss of $50 thousand for the first quarter of 2026, a significant decline from a net income of $148 thousand in the same period last year. This resulted in a basic and diluted loss per share of $(0.03), down from earnings per share of $0.09. While net interest income increased, a substantial rise in noninterest expenses contributed to the quarterly loss. The company also saw growth in total assets, deposits, and net loans.
Key Highlights
- Net loss of $50 thousand for Q1 2026, compared to net income of $148 thousand in Q1 2025.
- Basic and diluted EPS was $(0.03) for Q1 2026, down from $0.09 in Q1 2025.
- Net interest income increased to $2.44 million in Q1 2026 from $2.13 million in Q1 2025.
- Total noninterest expense rose significantly to $2.97 million in Q1 2026 from $2.33 million in Q1 2025.
- Total assets grew to $315.86 million at March 31, 2026, from $312.11 million at December 31, 2025.
- Total deposits increased to $240.85 million at March 31, 2026, from $234.43 million at December 31, 2025.
- Net loans increased to $233.33 million at March 31, 2026, from $226.03 million at December 31, 2025.