Quarterly ResultMay 11, 2026, 02:22 PM
Steele Bancorp 2025 Net Income $22.89M, EPS $9.15; NUBC Acquisition
AI Summary
Steele Bancorp filed an amendment to its 2025 Annual Report on Form 10-K, removing the "Unaudited" reference from its consolidated financial statements and including Sarbanes-Oxley Act certifications. The company reported a significant increase in net income to $22.89 million and EPS to $9.15 for the fiscal year ended December 31, 2025, largely driven by the acquisition of NUBC on August 1, 2025. Total assets and deposits also saw substantial growth, reflecting the impact of the acquisition.
Key Highlights
- NUBC Acquisition completed on August 1, 2025, significantly impacting financials.
- Net Income surged to $22.89 million in 2025 from $4.48 million in 2024.
- Basic and Diluted EPS increased to $9.15 in 2025 from $2.41 in 2024.
- Total Assets grew to $1.26 billion in 2025 from $596.7 million in 2024.
- Total Deposits increased to $1.11 billion in 2025 from $489.5 million in 2024.
- Total Noninterest Income rose to $22.66 million in 2025, including a $18.30 million bargain purchase gain.
- Total Stockholders' Equity increased to $118.40 million in 2025 from $55.92 million in 2024.
- Cash dividends declared were $1.49 per share in 2025, up from $1.45 in 2024.