FAYETTEVILLE, Ark., Oct. 20, 2026 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income of $5.1 million, or $1.04 per diluted share, in the third quarter of 2026, compared to $4.2 million, or $0.85 per diluted share, in the second quarter of 2026, and $3.5 million, or $0.72 per diluted share, in the third quarter of 2025. In the first nine months of 2026, net income increased to $12.7 million, or $2.58 per diluted share, compared to $9.5 million, or $1.93 per diluted share, in the first nine months of 2025. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected in the form of a stock dividend on September 4, 2026.

“Our results continue to reflect the strength of our people and the communities we serve,” said Gary Head, Chief Executive Officer. “Our employees bring dedication and care to their work every day, and our clients and communities continue to place their trust in us. We are grateful to serve markets with such strong character and resilience, and we don’t take those relationships for granted. As we close out the year, we look forward to building on this success together with the people and places that make our bank what it is.”

“This quarter marked record earnings for the Company, the culmination of years of strategic planning and disciplined execution across the organization,” said Scott Sandlin, Chief Strategy Officer. “The results reflect the deliberate steps we have taken to strengthen our balance sheet, deepen client relationships and drive operational efficiencies throughout the business. It was a highly productive quarter, and we are proud of what our team has accomplished. Having reached this level of earnings reinforces our confidence in the strategies we’ve put in place, and we expect to continue building on this momentum in the quarter ahead.”

Third Quarter 2026 Financial Highlights:

  • Net income for the third quarter of 2026 increased to $5.1 million, or $1.04 per diluted share, compared to $4.2 million, or $0.85 per diluted share, in the second quarter of 2026, and $3.5 million, or $0.72 per diluted share, in the third quarter of 2025.
  • Net interest income increased 3.5% to $14.3 million in the third quarter of 2026, compared to $13.8 million in the second quarter of 2026, and increased 11.9% compared to $12.8 million in the third quarter of 2025.
  • Net interest margin (“NIM”) remained consistent in the third quarter compared to the second quarter of 2026 at 3.59% and decreased seven basis points from 3.66% in the third quarter of 2025.
  • The Company did not record any provision for credit losses in the third quarter of 2026, compared to a $575,000 provision for credit losses in the second quarter of 2026, and a $375,000 provision for credit losses in the third quarter of 2025.
  • Net loans increased 10.9% to $1.375 billion at September 30, 2026, compared to $1.240 billion at September 30, 2025, and increased 2.8% compared to $1.338 billion at June 30, 2026.
  • Nonperforming loans represented 0.03% of total loans at September 30, 2026, compared to 0.04% at June 30, 2026, and 0.03% of total loans in the third quarter of 2025.
  • Total deposits increased by 0.1% to $1.432 billion at September 30, 2026 compared to $1.430 billion at June 30, 2026, and increased $146.5 million, or 11.4%, year-over-year, compared to $1.285 billion at September 30, 2025.
  • Core deposits (demand and non-interest-bearing, savings and interest-bearing transaction accounts, CDs under $250,000 and CDARs reciprocal deposits) represented 71.5% of total deposits at September 30, 2026.
  • Tangible book value per share increased 10.2% to $24.10 at September 30, 2026, compared to $21.87 a year ago.

Income Statement

The Company generated a return on average assets of 1.22% and a return on average equity of 16.40% in the third quarter of 2026 compared to 1.03% and 13.82%, respectively, in the second quarter of 2026 and 0.95% and 13.07%, respectively, in the third quarter of 2025.

“Net interest margin was stable compared with the prior quarter, as higher asset yields were offset by an increase in funding costs. Compared to a year ago, margin was down seven basis points, with lower funding costs only partially offsetting the decline in asset yields. We continue to manage deposit pricing with discipline as we navigate margin performance in the current rate environment,” said Brant Ward, President.

NIM remained consistent in the third quarter compared to the second quarter of 2026 at 3.59% and decreased seven basis points from 3.66% in the third quarter of 2025. For the first nine months of 2026, NIM was 3.56% which was up two basis points compared to the first nine months of 2025.

Net interest income increased 3.5% to $14.3 million in the third quarter of 2026, compared to $13.8 million in the second quarter of 2026, and increased 11.9% compared to $12.8 million in the third quarter of 2025. Total interest income increased 4.5% to $25.1 million in the third quarter of 2026, compared to $24.0 million in the second quarter of 2026, primarily attributable to modest increases in loans and investment securities, and increased 10.7% compared to $22.7 million in the third quarter a year ago. Total interest expense increased to $10.8 million in the third quarter of 2026, from $10.2 million in the second quarter of 2026, and $9.9 million in the third quarter a year ago. The increase in interest expense was largely due to higher deposit costs compared to both the prior quarter and the year-ago quarter. In the first nine months of 2026, net interest income increased 16.5% to $41.2 million, compared to $35.3 million in the first nine months of 2025.

Noninterest income was $2.5 million in the third quarter of 2026, nearly unchanged compared to the second quarter of 2026, and increased 13.5% compared to $2.2 million in the third quarter of 2025. Year-to-date, noninterest income increased 16.2% to $7.2 million, compared to $6.2 million in the same period a year earlier, with higher wealth management fee income largely contributing to the increase.

Noninterest expense was $10.1 million in the third quarter of 2026, compared to $10.2 million in the second quarter of 2026 and $10.0 million in the third quarter of 2025. Higher salaries and benefits expense contributed to the increase compared to the year ago quarter. In the first nine months of the year, noninterest expense increased to $30.8 million, compared to $27.4 million in the first nine months of 2025.

Balance Sheet

Total assets increased 10.6% to $1.647 billion at September 30, 2026, from $1.489 billion at September 30, 2025, and increased 0.9% compared to $1.632 billion at June 30, 2026.

Cash and cash equivalents totaled $26.2 million at September 30, 2026, compared to $26.7 million a year ago. Investment securities totaled $173.3 million at September 30, 2026, an increase from $151.2 million at September 30, 2025. Loans, net of allowance for credit losses, increased 10.9% to $1.375 billion at September 30, 2026, compared to $1.240 billion at September 30, 2025, and increased 2.8% compared to $1.338 billion at June 30, 2026.

Total deposits increased 11.4% to $1.432 billion at September 30, 2026, compared to $1.285 billion at September 30, 2025, and increased 0.1% compared to $1.430 billion at June 30, 2026. Demand and non-interest-bearing deposits increased 5.9%, savings and interest-bearing transaction accounts increased 19.4% and time deposits increased 7.0% compared to a year ago.

FHLB advances decreased to $24.4 million at September 30, 2026, compared to $34.4 million a year prior, and increased compared to $11.4 million at June 30, 2026. Total stockholders’ equity increased to $118.9 million at September 30, 2026, compared to $108.1 million at September 30, 2025, and $118.0 million at June 30, 2026. Tangible book value per common share increased to $24.10 at September 30, 2026, compared to $21.87 at September 30, 2025, and $23.91 at June 30, 2026. All per share data has been adjusted to reflect the two-for-one stock split effected in the form of a dividend on September 4, 2026.

Credit Quality

The Company did not record any provision for credit losses in the third quarter of 2026. This is compared to a $575,000 provision for credit losses in the second quarter of 2026, and a $375,000 provision for credit losses in the third quarter of 2025.

Nonperforming loans totaled approximately $480,000 at September 30, 2026. This compared to $532,000 in nonperforming loans at June 30, 2026, and $365,000 in nonperforming loans at September 30, 2025. Nonperforming loans represented 0.03% of total loans at September 30, 2026, compared to 0.04% at June 30, 2026, and 0.03% of total loans a year ago.

“Credit quality held up well this quarter, a result of our consistent underwriting standards and the resilience of the communities we serve. A significant net recovery, along with stable credit trends, meant no provision for credit losses was needed this quarter, even as loans continued to grow at a steady pace. We remain focused on managing the balance sheet with discipline,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $16.3 million, or 1.17% of total loans, at September 30, 2026, compared to $15.9 million, or 1.17% of total loans, at June 30, 2026, and $14.5 million, or 1.16% of total loans, at September 30, 2025.

Net loan recoveries were $474,000 in the third quarter of 2026, compared to net loan charge-offs of $45,000 in the second quarter of 2026, and net loan charge-offs of $143,000 in the third quarter of 2025.

Capital

The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 13.01%, a Tier 1 ratio of 11.76%, and a Leverage ratio of 9.64% for the Bank at September 30, 2026.

About White River Bancshares Company

White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV) trades on the OTCQX® Best Market.  

About the Region

White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Inc. (“Walmart”), Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Freeman Health System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.

The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.

The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.

According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $398,000 in September 2026, with an average of 51 days on the market. For Benton County, the average house sold for $472,000, with an average of 65 days on the market.

Source:

http://www.nwarealtors.org/market-statistics/

Forward Looking Statements

This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for credit losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; liquidity and the availability of wholesale funding; changes in the fair value of our investment securities; cybersecurity incidents; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Except as required by law, the Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

 
WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
                   
    For the Three Months Ended
    September 30,   June 30,   September 30,
    2026   2026   2025
                   
INTEREST INCOME                  
Loans, including fees   $ 22,828,148     $ 21,784,168     $ 21,184,478  
Investment securities     1,871,377       1,791,496       1,381,205  
Federal funds sold and other     414,642       458,631       119,881  
Total interest income     25,114,167       24,034,295       22,685,564  
                   
INTEREST EXPENSE                  
Deposits     9,976,238       9,397,532       9,091,239  
Federal Home Loan Bank advances     134,653       127,630       282,419  
Notes payable     669,378       659,612       479,094  
Federal funds purchased and other     636       –       22,998  
Total interest expense     10,780,905       10,184,774       9,875,750  
NET INTEREST INCOME     14,333,262       13,849,521       12,809,814  
Provision for credit losses     –       575,000       375,000  
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     14,333,262       13,274,521       12,434,814  
                   
NON-INTEREST INCOME                  
Service charges and fees on deposits     204,149       192,630       177,602  
Wealth management fee income     1,308,626       1,146,636       1,081,538  
Secondary market fee income     248,148       408,611       241,847  
Bank owned-life insurance income     84,552       82,831       83,967  
Gain on sales and write-downs of foreclosed assets     –       –       –  
Other     643,685       625,954       609,055  
TOTAL NON-INTEREST INCOME     2,489,160       2,456,662       2,194,009  
                   
NON-INTEREST EXPENSE                  
Salaries and benefits     6,185,140       6,219,768       5,923,998  
Occupancy and equipment     1,315,425       1,233,812       1,277,189  
Data processing     864,058       943,002       931,121  
Marketing and business development     474,844       634,229       492,582  
Professional services     812,398       763,047       861,874  
Amortization of other intangible assets     53,036       53,037       53,036  
Other     435,667       381,162       469,692  
TOTAL NON-INTEREST EXPENSE     10,140,568       10,228,057       10,009,492  
                   
Income before income taxes     6,681,854       5,503,126       4,619,331  
Income tax provision     1,582,639       1,331,963       1,081,452  
NET INCOME   $ 5,099,215     $ 4,171,163     $ 3,537,879  
                   
EARNINGS PER SHARE                  
Basic (1)   $ 1.05     $ 0.86     $ 0.72  
Diluted (1)   $ 1.04     $ 0.85     $ 0.72  
                   
  (1) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2026.
                         
                   

WHITE RIVER BANCSHARES COMPANY  
CONSOLIDATED STATEMENTS OF INCOME  
(Unaudited)  
             
    Nine Months Ended
    September 30,
    2026   2025
             
INTEREST INCOME            
Loans, including fees   $ 65,594,484     $ 59,111,182  
Investment securities     5,254,809       4,071,549  
Federal funds sold and other     1,358,892       528,776  
Total Interest Income     72,208,185       63,711,507  
             
INTEREST EXPENSE            
Deposits     28,659,548       25,941,893  
Federal Home Loan Bank advances     452,760       972,336  
Notes payable     1,941,111       1,432,254  
Federal funds purchased and other     642       43,133  
Total interest expense     31,054,061       28,389,616  
NET INTEREST INCOME     41,154,124       35,321,891  
Provision for credit losses     1,080,000       1,845,000  
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES     40,074,124       33,476,891  
             
NON-INTEREST INCOME            
Service charges and fees on deposits     573,209       510,973  
Wealth management fee income     3,658,028       3,093,467  
Secondary market fee income     942,214       594,627  
Bank owned life insurance income     248,645       246,760  
Gain on sales and write-downs of foreclosed assets     –       15,475  
Other     1,816,431       1,769,863  
TOTAL NON-INTEREST INCOME     7,238,527       6,231,165  
             
NON-INTEREST EXPENSE            
Salaries and benefits     18,605,836       16,041,406  
Occupancy and equipment     3,830,243       3,612,176  
Data processing     2,696,110       2,646,434  
Marketing and business development     1,633,380       1,499,268  
Professional services     2,440,331       2,212,550  
Amortization of intangible asset     159,109       159,109  
Other     1,386,428       1,189,414  
TOTAL NON-INTEREST EXPENSE     30,751,437       27,360,357  
             
Income before income taxes     16,561,214       12,347,699  
Income tax provision     3,906,099       2,882,312  
NET INCOME   $ 12,655,115     $ 9,465,387  
             
EARNINGS PER SHARE            
Basic (1)   $ 2.60     $ 1.94  
Diluted (1)   $ 2.58     $ 1.93  
             
  (1) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2026.
                 

WHITE RIVER BANCSHARES COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)
             
    September 30, 2026   June 30, 2026   September 30, 2025
             
ASSETS                    
Cash and cash equivalents   $ 26,191,092     $ 50,663,272     $ 26,693,919  
Investment securities     173,285,932       170,990,805       151,214,197  
Loans held for sale     1,334,859       2,932,183       2,353,071  
Loans     1,391,430,419       1,353,385,224       1,254,892,691  
Allowance for credit losses     (16,327,571 )     (15,853,123 )     (14,516,828 )
Net loans     1,375,102,848       1,337,532,101       1,240,375,863  
Premises and equipment, net     35,329,287       35,765,424       37,028,441  
Foreclosed assets held for sale     –       –       –  
Accrued interest receivable     6,105,185       6,696,623       5,694,363  
Bank owned life insurance     10,357,299       10,272,747       10,026,067  
Deferred income taxes     6,489,656       4,847,229       3,938,119  
Other investments     8,192,213       8,185,012       7,403,123  
Intangible assets, net     1,431,985       1,485,021       1,644,131  
Other assets     2,780,570       2,708,503       2,844,258  
TOTAL ASSETS   $ 1,646,600,926     $ 1,632,078,920     $ 1,489,215,552  
      10.52 %        
LIABILITIES & STOCKHOLDERS’ EQUITY                    
Deposits:            
Demand and non-interest-bearing   $ 248,145,995     $ 250,136,679     $ 234,374,901  
Savings and interest-bearing transaction accounts     574,128,978       506,022,826       481,036,318  
Time deposits     609,550,113       673,804,709       569,904,230  
Total deposits     1,431,825,086       1,429,964,214       1,285,315,449  
Federal Home Loan Bank advances     24,365,408       11,398,449       34,442,377  
Notes payable     39,076,146       39,365,670       25,911,204  
Operating lease liability     20,731,495       20,969,897       21,664,387  
Reserve for losses on unfunded commitments     1,328,000       1,328,000       1,478,000  
Accrued interest payable     2,648,252       3,450,889       2,487,967  
Other liabilities     7,739,445       7,627,200       9,857,347  
TOTAL LIABILITIES     1,527,713,832       1,514,104,319       1,381,156,731  
             
Stockholders’ equity:            
Common stock (1)     49,566       49,566       49,452  
Surplus (1)     103,249,177       103,104,869       102,770,469  
Retained earnings     26,118,363       21,025,696       10,325,833  
Treasury stock, at cost     (1,393,294 )     (1,393,294 )     (1,284,359 )
Accumulated other comprehensive loss     (9,136,718 )     (4,812,236 )     (3,802,574 )
TOTAL STOCKHOLDERS’ EQUITY     118,887,094       117,974,601       108,058,821  
             
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 1,646,600,926     $ 1,632,078,920     $ 1,489,215,552  
             
  (1) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2026.
                         
WHITE RIVER BANCSHARES COMPANY
SUPPLEMENTAL INFORMATION
             
    (Unaudited)
    Three Months Ended
    September 30,   June 30,   September 30,
    2026   2026   2025
             
FOR THE PERIOD            
Net income   $ 5,099,215     $ 4,171,163     $ 3,537,879  
Net income before taxes     6,681,854       5,503,126       4,619,331  
Dividends declared per share (1)     –       0.25       –  
             
             
PERIOD END BALANCE            
Total assets   $ 1,646,600,926     $ 1,632,078,920     $ 1,489,215,552  
Total investments     173,285,932       170,990,805       151,214,197  
Total loans, net     1,375,102,848       1,337,532,101       1,240,375,863  
Allowance for credit losses     (16,327,571 )     (15,853,123 )     (14,516,828 )
Total deposits     1,431,825,086       1,429,964,214       1,285,315,449  
Stockholders’ equity     118,887,094       117,974,601       108,058,821  
             
             
RATIO ANALYSIS            
Return on average assets (annualized)     1.22 %     1.03 %     0.95 %
Return on average equity (annualized)     16.40 %     13.82 %     13.07 %
Efficiency     60.28 %     62.73 %     66.71 %
Net loans/Deposits     96.04 %     93.54 %     96.50 %
Total Stockholders’ Equity/Total assets     7.22 %     7.23 %     7.26 %
Net loan losses/Total loans     -0.03 %     0.00 %     0.01 %
Uninsured & unpledged deposits     25.55 %     25.43 %     27.71 %
             
             
PER SHARE DATA            
Shares oustanding (1)     4,873,405       4,873,508       4,866,490  
Weighted average shares outstanding (1)     4,873,479       4,873,508       4,896,164  
Diluted weighted average shares outstanding (1)     4,911,737       4,912,978       4,922,668  
Basic earnings (1)   $ 1.05     $ 0.86     $ 0.72  
Diluted earnings (1)     1.04       0.85       0.72  
Book value (1)     24.40       24.21       22.20  
Tangible book value (1)     24.10       23.91       21.87  
             
             
ASSET QUALITY            
Net (recoveries) charge-offs   $ (474,449 )   $ 44,637     $ 142,996  
Classified assets     3,783,816       4,082,145       399,978  
Nonperforming loans     480,403       532,252       364,583  
Nonperforming assets     480,403       532,252       364,583  
Total nonperforming loans/Total loans     0.03 %     0.04 %     0.03 %
Total nonperforming loans/Total assets     0.03 %     0.03 %     0.02 %
Total nonperforming assets/Total assets     0.03 %     0.03 %     0.02 %
Allowance for credit losses/Total loans     1.17 %     1.17 %     1.16 %
             
             
             
  (1) Prior periods adjusted to give effect to stock split effected in the form of a dividend on September 4, 2026.
     
WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)
                                                 
    Three Months Ended
    September 30,   June 30,   September 30,
    2026   2026   2025
    Average         Average   Average         Average   Average         Average
    Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate
                                                 
Interest-earning assets:                                                
Federal funds sold and other   $ 45,699,639     $ 414,642     3.60 %   $ 49,781,095     $ 458,631     3.70 %   $ 10,868,303     $ 119,881     4.38 %
Investment securities available-for-sale (1)     173,993,305       1,797,376     4.10 %     172,232,040       1,717,760     4.00 %     143,417,819       1,349,932     3.73 %
Loans receivable     1,355,519,559       22,828,148     6.68 %     1,318,356,642       21,784,168     6.63 %     1,232,089,067       21,184,478     6.82 %
Total interest-earning assets     1,575,212,503     $ 25,040,166     6.31 %     1,540,369,777     $ 23,960,559     6.24 %     1,386,375,189     $ 22,654,291     6.48 %
Noninterest-earning assets     82,234,285                 82,152,352                 84,509,736            
Total assets   $ 1,657,446,788               $ 1,622,522,129               $ 1,470,884,925            
Interest-bearing liabilities:                                                
Interest-bearing deposits   $ 1,203,981,008     $ 9,976,238     3.29 %   $ 1,168,960,248     $ 9,397,532     3.22 %   $ 1,042,365,371     $ 9,091,239     3.46 %
FHLB advances and federal funds purchased     12,282,335       135,289     4.37 %     11,413,936       127,630     4.49 %     26,963,863       305,417     4.49 %
Notes payable     39,063,104       669,378     6.80 %     39,353,474       659,612     6.72 %     25,902,754       479,094     7.34 %
Total interest-bearing liabilities     1,255,326,447     $ 10,780,905     3.41 %     1,219,727,658     $ 10,184,774     3.35 %     1,095,231,988     $ 9,875,750     3.58 %
Noninterest-bearing liabilities     278,797,702                 281,721,922                 268,274,441            
Total liabilities     1,534,124,149                 1,501,449,580                 1,363,506,429            
Stockholders’ equity     123,322,639                 121,072,549                 107,378,496            
Total liabilities and stockholders’ equity   $ 1,657,446,788               $ 1,622,522,129               $ 1,470,884,925            
Net interest-earning assets   $ 319,886,056               $ 320,642,119               $ 291,143,201            
Net interest spread         $ 14,259,261     2.90 %         $ 13,775,785     2.89 %         $ 12,778,541     2.91 %
Net interest margin               3.59 %               3.59 %               3.66 %
                                                 
  (1) Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).
                                                 

WHITE RIVER BANCSHARES COMPANY
INTEREST INCOME AND EXPENSE
(Unaudited)
                                 
    Nine Months Ended September 30,
    2026   2025
    Average         Average   Average         Average
    Balance   Interest   Yield/Rate   Balance   Interest   Yield/Rate
                                 
Interest-earning assets:                                
Federal funds sold and other   $ 49,868,605     $ 1,358,892     3.64 %   $ 16,374,100     $ 528,776     4.32 %
Investment securities available-for-sale (1)     169,229,016       5,037,729     3.98 %     138,387,499       3,848,225     3.72 %
Loans receivable     1,316,681,897       65,594,484     6.66 %     1,169,902,372       59,111,182     6.76 %
Total interest-earning assets     1,535,779,518     $ 71,991,105     6.27 %     1,324,663,971     $ 63,488,183     6.41 %
Noninterest-earning assets     82,217,120                 82,762,667            
Total assets   $ 1,617,996,638               $ 1,407,426,638            
Interest-bearing liabilities:                                
Interest-bearing deposits   $ 1,171,530,124     $ 28,659,548     3.27 %   $ 988,873,615     $ 25,941,893     3.51 %
FHLB advances and federal funds purchased     13,352,243       453,402     4.54 %     30,021,535       1,015,469     4.52 %
Notes payable     37,872,572       1,941,111     6.85 %     26,060,939       1,432,254     7.35 %
Total interest-bearing liabilities     1,222,754,939     $ 31,054,061     3.40 %     1,044,956,089     $ 28,389,616     3.63 %
Noninterest-bearing liabilities     274,423,835                 258,282,905            
Total liabilities     1,497,178,774                 1,303,238,994            
Stockholders’ equity     120,817,864                 104,187,644            
Total liabilities and stockholders’ equity   $ 1,617,996,638               $ 1,407,426,638            
Net interest-earning assets   $ 313,024,579               $ 279,707,882            
Net interest spread         $ 40,937,044     2.87 %         $ 35,098,567     2.78 %
Net interest margin               3.56 %               3.54 %
                                 
  (1) Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares).
                                 

Contact:         
Scott Sandlin, Chief Strategy Officer                                        
479-684-3754


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White River Bancshares