Oakworth Capital Inc. Reports 22% Increase in Diluted EPS

Income/Profitability:

• Net income of $14.5 million: 24% higher than $11.7 million year-over-year
• Diluted earnings per share of $2.90: 22% higher than $2.37 in the same period of 2024
• Pre-tax pre-provision income of $22.1 million: 28% higher than $17.3 million in same period for 2024
• Revenue of $60.6 million: 17% higher than $51.7 million in the same period of 2024
  • 4% linked-quarter growth and 21% year-over-year growth in net interest income
  • 7% linked-quarter increase and 11% year-over-year growth in trust and wealth fees
• Non-interest expenses of $38.5 million: 12% higher year-over-year
• ROAE of 14.5%
• ROAA of 1.1%

Wealth Assets/Balance Sheet:

• Wealth assets of $2.6 billion, 11% higher than $2.3 billion one year prior
• Year-over-year loan growth of 13% on average basis and 9% on period end basis to $1.5 billion
• Year-over-year deposit growth of 14% on average basis and 11% on period end basis to $1.7 billion
• Tangible book value per share: $29.27

Safety and Soundness:

• Credit quality metrics:
  • $0.5 million non-performing loans
  • $0 past due +90 loans
  • $4.4 million ORE
  • 1.2% allowance for credit losses as percentage of loans, net
• Capital ratios
  • Total risk-based capital: 12.2%
  • CET1: 11.0%
  • Tier 1 leverage: 9.8%

Oakworth's Chairman and CEO Scott Reed stated, "We are pleased with our balanced growth and strong profitability in the third quarter. We've achieved double-digit compound annual growth rates in loans, deposits, wealth assets and earnings per share for the life of our company and those rates are increasing now. I've never been more optimistic about the future of Oakworth and the value we are creating for shareholders, associates, clients and the communities we serve."