BIRMINGHAM, Ala., Oct. 22, 2026 /PRNewswire/ -- Oakworth Capital Inc. (OTCQX: OAKC) reported 19% net income growth and 13% diluted EPS growth in the year-to-date period ended September 30, 2026 compared to the same period in 2025. Realization of returns on past investments has been a focus that is evident in a 57% third quarter efficiency ratio and 1.2% third quarter return on assets. Strong balance sheet and wealth asset growth was also evident in the quarter and year-to-date periods with wealth assets growing 17% year-over-year, loans growing 16% compared to 2025 and deposits up 17% over 2025. Linked quarter deposit growth was particularly strong at 13% (52% annualized). Oakworth's Chairman and CEO Scott Reed stated, "We are pleased with the profitable, balanced growth we experienced in third quarter. We appreciate the support for our story that was evidenced by the completion of a $15.4 million common equity capital raise in the quarter, and we look forward to working hard to deliver value for our new and existing shareholders."
As of and year-to-date September 30, 2026 highlights include:
Income/Profitability:
- Net income of $17.2 million compared to $14.5 million year-to-date 2025
- Diluted earnings per share of $3.27 compared to $2.90 year-to-date 2025
- Pre-tax pre-provision income of $28.3 million compared to $22.1 million in same period of 2025 (+28%)
- Revenue of $70.7 million: 17% higher than $60.6 million year-to-date 2025
- 16% year-over-year growth in net interest income
- 22% year-over-year growth in trust and wealth fees
- Non-interest expenses of $42.5 million compared to $38.5 million year-to-date 2025
- 10% higher year-over-year
- ROAE of 14.4%
- ROAA of 1.1%
Wealth Assets/Balance Sheet:
- Wealth assets of $3.00 billion, 17% higher than $2.57 billion one year prior
- Year-over-year loan growth of 14% on average basis and 16% on period end basis to $1.8 billion
- Year-over-year deposit growth of 12% on average basis and 17% on period end basis to $2.0 billion
- Tangible book value per share: $32.34
- Includes $15.8 million or $2.96 per share AOCI mark-to-market adjustment attributable solely to interest rate movements
Safety and Soundness:
- Credit quality metrics:
- $9.7 million non-performing loans
- $3.4 million ORE
- 0.73% NPA ratio
- $3.1 million net charge-offs, including $1.3 million in 3Q26
- 1.2% allowance for credit losses as percentage of loans, net
- Capital
- The Company sold a total of $15.4 million in common equity, or 367,330 shares of Oakworth common stock at $42.00 per share in a private placement offering that closed on September 25, 2026
- Total risk-based capital: 12.3%
- CET1: 11.1%
- Tier 1 leverage: 9.8%
About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management, and advisory services to clients across the United States.
Oakworth has been ranked among American Banker's "Best Banks to Work For in the U.S." for the past nine years, holding the top spot for six of those years and ranking No. 2 most recently. Additionally, Oakworth's 2025 average Net Promoter Score (NPS) was 95 with a commensurate client retention rate of 95%. As of September 30, 2026, Oakworth had $2.2 billion in total assets, $1.8 billion in gross loans, $2.0 billion in deposits and $3.0 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.
Advisory services, including investment management and financial planning, are offered through Oakworth Asset Management LLC, a registered investment advisor that is owned by Oakworth Capital Bank, Member FDIC, Equal Housing Lender. Investment products and services offered via Oakworth Asset Management LLC are independent of the products and services offered by Oakworth Capital Bank, and are not FDIC insured, may lose value, have no bank guarantee, and are not insured by any federal or state government agency. Because Oakworth Asset Management LLC is owned by Oakworth Capital Bank and because associates of either entity may provide financial advice to our clients, there exists a conflict of interest to the extent that either party recommends the services of the other. Oakworth Asset Management LLC does not provide tax or legal advice. You should consult your tax advisor, accountant, and/or attorney before making any decisions with tax or legal implications. Additional information about Oakworth Asset Management LLC, including its services and fees, may be obtained from adviserinfo.sec.gov or by contacting Oakworth Asset Management directly.
OAKWORTH CAPITAL INC.
WEALTH AND TRUST (Unaudited)
(In millions)
As of Change Change
9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 vs. 9/30/2026 vs.
6/30/2026 9/30/2025
Wealth assets (non-balance sheet) $3,000 $2,957 $2,705 $2,685 $2,566 $43 1 % $434 17 %
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION
(Unaudited)
(in thousands)
As of Change Change
9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 vs. 9/30/2026 vs.
6/30/2026 9/30/2025
Assets
Cash and due from banks $154,630 $128,029 $113,891 $194,946 $153,084 $26,601 21 % $1,546 1 %
Federal funds sold 1,025 1,050 1,951 1,325 950 (25) -2 % 75 8 %
Securities available for sale 234,034 226,098 213,286 201,684 189,673 7,936 4 % 44,361 23 %
Loans, net of unearned income 1,780,861 1,725,998 1,665,422 1,604,023 1,533,734 54,863 3 % 247,127 16 %
Allowance for credit losses (21,577) (20,754) (19,871) (19,348) (18,734) (823) 4 % (2,843) 15 %
Loans, net 1,759,284 1,705,244 1,645,551 1,584,675 1,515,000 54,040 3 % 244,284 16 %
Fixed assets 3,333 3,326 3,447 3,625 3,821 7 0 % (488) -13 %
Interest receivable 7,698 7,516 7,560 7,246 6,845 182 2 % 853 12 %
Other assets 57,572 59,859 54,169 52,723 52,825 (2,287) -4 % 4,747 9 %
Total assets $2,217,576 $2,131,122 $2,039,855 $2,046,224 $1,922,198 $86,454 4 % $295,378 15 %
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing deposits $373,868 $319,544 $320,493 $304,683 $300,340 $54,324 17 % $73,528 24 %
Interest-bearing deposits 1,611,617 1,438,204 1,467,134 1,526,302 1,397,942 173,413 12 % 213,675 15 %
Total deposits 1,985,485 1,757,748 1,787,627 1,830,985 1,698,282 227,737 13 % 287,203 17 %
Total Borrowings 38,345 188,322 78,299 38,831 58,809 (149,977) -80 % (20,464) -35 %
Accrued interest payable 537 1,299 598 1,223 710 (762) -59 % (173) -24 %
Other liabilities 20,622 20,464 20,950 26,521 20,657 158 1 % (35) 0 %
Total liabilities 2,044,989 1,967,833 1,887,474 1,897,560 1,778,458 77,156 4 % 266,531 15 %
Total stockholders' equity 172,587 163,289 152,381 148,664 143,740 9,298 6 % 28,847 20 %
Total liabilities and stockholders' equity $2,217,576 $2,131,122 $2,039,855 $2,046,224 $1,922,198 $86,454 4 % $295,378 15 %
OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Unaudited)
(in thousands)
Quarter Ended Change Change
9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 3Q26 vs. 2Q26 3Q26 vs. 3Q25
Interest income:
Loans, including fees $28,439 $26,711 $25,373 $25,817 $26,194 $1,728 6 % $2,245 9 %
Securities available for sale 2,370 2,219 2,015 1,814 1,667 151 7 % 703 42 %
Short term investments 1,128 1,049 1,201 1,772 1,058 79 8 % 70 7 %
Total interest income 31,937 29,979 28,589 29,403 28,919 1,958 7 % 3,018 10 %
Interest expense:
Deposits 10,662 9,931 10,375 11,289 11,357 731 7 % (695) -6 %
Borrowings 1,652 1,605 763 678 1,114 47 3 % 538 48 %
Total interest expense 12,314 11,536 11,138 11,967 12,471 778 7 % (157) -1 %
Net interest income 19,623 18,443 17,451 17,436 16,448 1,180 6 % 3,175 19 %
Provision for credit losses 2,161 2,007 1,315 1,010 905 154 8 % 1,256 139 %
Net interest income after provision 17,462 16,436 16,136 16,426 15,543 1,026 6 % 1,919 12 %
for loan losses
Non-interest income 5,375 4,994 4,837 4,647 4,392 381 8 % 983 22 %
Non-interest expense 14,269 13,664 14,538 14,634 13,223 605 4 % 1,046 8 %
Income before income taxes 8,568 7,766 6,435 6,439 6,712 802 10 % 1,856 28 %
Provision for income taxes 2,092 1,901 1,565 1,145 1,653 191 10 % 439 27 %
Net Income 6,476 5,865 4,870 5,294 5,059 611 10 % 1,417 28 %
Earnings per share - basic $1.23 $1.15 $0.96 $1.05 $1.01 $0.08 7 % $0.22 22 %
Earnings per share - diluted $1.19 $1.13 $0.94 $1.04 $1.01 $0.06 5 % $0.18 18 %
OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Unaudited)
(in thousands) YTD Period Ended
9/30/2026 9/30/2025 Change
Interest income:
Loans, including fees $80,523 $76,302 $4,221 6 %
Securities available for sale 6,604 4,745 1,859 39 %
Short term investments 3,378 3,270 108 3 %
Total interest income 90,505 84,317 6,188 7 %
Interest expense:
Deposits 30,968 33,673 (2,705) -8 %
Borrowings 4,021 2,773 1,248 45 %
Total interest expense 34,989 36,446 (1,457) -4 %
Net interest income 55,516 47,871 7,645 16 %
Provision for credit losses 5,482 2,915 2,567 88 %
Net interest income after provision 50,034 44,956 5,078 11 %
for loan losses
Non-interest income 15,207 12,768 2,439 19 %
Non-interest expense 42,472 38,511 3,961 10 %
Income before income taxes 22,769 19,213 3,556 19 %
Provision for income taxes 5,558 4,742 816 17 %
Net Income 17,211 14,471 2,740 19 %
Earnings per share - basic $3.34 $2.90 $0.44 15 %
Earnings per share - diluted $3.27 $2.90 $0.37 13 %
For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: jenifer.kimbrough@oakworth.com
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SOURCE Oakworth Capital Inc.
