SVB&T Corporation reports 42% jump in first quarter earnings per share
SVB&T Corporation, parent company of Springs Valley Bank & Trust Company, reported first quarter 2026 earnings of $2.99 million, or $2.71 per share, a 41.88% increase over the same period last year.
The performance translates into an average return on assets of 1.86%, compared to 1.32% in the first quarter of 2025. The company announced the results on 30 April 2026.
Net interest income before provision expense for the quarter ended 31 March 2026 totals $5.92 million, up from $4.70 million in the same period last year. Interest income increases $466,000 compared to the prior year first quarter, driven mainly by higher loan balances and increased yields on loans from the elevated rate environment.
Interest expense decreases $753,000 compared to the same quarter last year, largely because of lower rates on deposits following the Federal Reserve’s federal funds rate reductions in 2025.
Quarter over trailing quarter earnings increase approximately $989,000, or 49.52%. The earnings jump comes mainly from increased income from sold mortgages and servicing on sold loans, along with reduced interest expense and employee benefits expenses, including health insurance.
Book value per share increases from $60.06 as of 31 March 2025 to $69.78 as of 31 March 2026, a 16.18% increase. SVB&T Corporation stock closes at $61.52 per share on the OTCQX exchange on 31 March 2026.
Total assets decreased $706,000 to $642.77 million on 31 March 2026, compared to $643.48 million on 31 December 2025. Total loans before allowance increased $15.09 million to $509.18 million on 31 March 2026, from $494.09 million on 31 December 2025.
The growth in loans in 2026 occurs primarily in commercial real estate and commercial lines of credit, as excess cash held throughout much of 2025 gets deployed in those areas.
Total deposits decreased $2.62 million to $559.83 million on 31 March 2026, from $562.45 million on 31 December 2025. Noninterest-bearing deposits increase by approximately $3.56 million, while interest-bearing deposits decrease by approximately $6.18 million.
President and CEO J. Craig Buse said the strong performance continues a trend from 2025.
“2025 was one of the best years in the history of SVB&T Corporation in terms of earnings, and the first quarter of 2026 is continuing that trend with very solid earnings and profitability metrics,” Buse said. “Margin expansion was a substantive tailwind in 2025, driving net interest income higher, and it continues to do so in 2026 as well.”
Buse noted the bank expects net interest margin improvement to plateau in the near future as federal funds rate reduction expectations in 2026 have been pushed into 2027, and the asset repricing cycle from 2020 and 2021 interest rate lows is coming to an end.
“That said, the bank continues to focus on quality in the credit portfolio, bolstering liquidity, and low cost core deposit growth, which we believe are all fundamental drivers of the long-term profitability of SVB&T,” Buse said.
Noninterest income increases approximately $226,000 to $2.86 million from $2.64 million. The higher income comes from increased revenue from the Financial Advisory Group and sold mortgages.
Noninterest expense increases $235,000 to $4.94 million from $4.70 million, attributable to increases in general operating expenses, the largest of which is increased core processing and information technology and cybersecurity support expenditures.
In May 2025, the corporation’s board of directors reauthorizes a share repurchase program through 1 June 2027. Under the program, the corporation is authorized to repurchase shares with an aggregate purchase price of up to $1 million. As of the end of the first quarter of 2026, 2,100 shares have been repurchased under the plan, with an average purchase price of $47.03.
