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Zawya
10 hours ago
- Business
- Zawya
Boursa Kuwait sees a 61.12% surge in its net profit for the first half of 2025
Kuwait City: In a meeting of its Board of Directors on Tuesday, July 29, 2025, Boursa Kuwait announced that it recorded a net profit of KD 15.11 million for the first half of 2025, a 61.12% increase from its total for the corresponding period in 2024, when the company recorded profits of KD 9.38 million. The company's remarkable improvement in net profit was largely driven by strong growth in total operating revenues, which reached KD 24.20 million in the first half of 2025, representing a 41.13% increase from the KD 17.15 million recorded in the same period in 2024. Operating profit also saw a significant boost, rising 59.53% from KD 11.58 million to KD 18.47 million, while earnings per share increased 61.12% from 46.71 fils in the first half of 2024 to 75.27 fils for the period ended June 30, 2025. The Group's total assets came in at KD 123.87 million as of June 30, 2025, which is a 9.26% increase over its KD 113.37 million total in 2024, while shareholders' equity attributable to equity holders of the parent company increased from KD 58.75 million as of June 30, 2024, to KD 66.20 million as of June 30, 2025, an increase of 12.68%. Boursa Kuwait's financial results for the first half of 2025 serve as a clear indicator of the company's strong financial position and the effectiveness of its operational strategies. 'These results reaffirm Boursa Kuwait's capacity to navigate the complex geopolitical and economic challenges experienced worldwide while maintaining sustainable growth supported by revenue diversification and enhanced liquidity levels, which strengthens confidence in the exchange's operational efficiency and long-term resilience,' said Boursa Kuwait Chairman Mr. Bader Nasser Al-Kharafi. 'This growth marks a significant milestone in our journey, giving us greater momentum to advance our development plans to modernize market infrastructure, diversify investment instruments and strengthen its appeal to both local and international investors. It also reinforces Boursa Kuwait's position as a key driver of economic growth and a major contributor to the state's vision of becoming a competitive financial and investment hub in the region, capable of attracting strategic and long-term capital from around the world,' he added. To pave the way for Part Two of Phase Three of the Market Development Program, the Kuwaiti capital market apparatus has undertaken major enhancements to restructure its regulatory and operational infrastructure. Officially rolled out earlier this month, the phase reflects the close collaboration between Boursa Kuwait, the Capital Markets Authority, the Central Bank of Kuwait, Kuwait Clearing Company, local banks and investment and brokerage firms as well as their collective efforts to advance the development and sustainability of the Kuwaiti capital market and the national economy. Al-Kharafi stressed that this achievement is the direct result of seamless collaboration across the capital market apparatus and a shared determination to create tangible value for investors, stating that Boursa Kuwait remains committed to accelerating growth and delivering transformative milestones that secure the long-term sustainability of the national economy, working closely with all stakeholders in the Kuwaiti capital market apparatus. 'This breakthrough underscores the private sector's agility and effectiveness in advancing development and forging impactful partnerships with the public sector, further cementing Kuwait's position as a confident and rising regional financial hub,' he said. The Boursa Kuwait Chairman concluded his statement, saying: 'On behalf of the Board of Directors, I would like to express my gratitude to our shareholders for their continued trust in the company and to executive management and employees for their unwavering dedication and commitment to excellence. I would also like to thank the Capital Markets Authority and the Ministry of Commerce and Industry for their ongoing support and collaboration, which have contributed to strengthening market stability and raising its standards. 'My appreciation also goes to the investors, traders and market participants for their sustained confidence in Boursa Kuwait, reaffirming our commitment to deliver a superlative investment experience and working closely with the capital market apparatus to deliver greater milestones in the future,' he said. The Kuwaiti capital market continued its upward trajectory in the first half of 2025, with traded value soaring by 90.39% from KD 6.63 billion in the first half of 2024 to KD 12.63 billion in the corresponding period in 2025, while traded volume rose by 82.95% from 27.03 billion shares to 49.45 billion shares. Meanwhile, average daily traded value increased by 95.31% from KD 55.73 million during the period ended June 30, 2024, to KD 108.85 million in the period ended June 30, 2025. Additionally, market capitalization reached KD 50.53 billion, marking a 23.20% increase from the total of KD 41.02 billion recorded during the first half of 2024. The 'Premier' Market was a key driver of market activity, with value traded increasing 47.09% from its total of KD 4.99 billion in the first half of 2024 to KD 7.34 billion in the first half of 2025, with approximately 20.21 billion shares traded in the first half of 2025, an increase of 40.98% over the 14.34 billion shares traded in the period ended June 30, 2024. Meanwhile, the market capitalization in Boursa Kuwait's flagship market increased by 24.45% from KD 33.97 billion to KD 42.27 billion in the period ended June 30, 2025. The 'Main' Market also played a significant role in enhancing overall market liquidity, as traded value increased by 221.36% from KD 1.65 billion to KD 5.29 billion in the first half of 2025, while trading volume increased from 12.69 billion shares in the first half of 2024 to 28.60 billion shares in the first half of 2025, an increase of 125.38%. Market capitalization, meanwhile, rose by 17.20% from KD 7.05 billion in the period ended June 30, 2024, to KD 8.27 billion in the period ended June 30, 2025. Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi praised the Kuwaiti capital market's performance during the first half of 2025, emphasizing that these results are an indication of the positive response to the operational and regulatory enhancements in the Kuwaiti capital market, noting Boursa Kuwait's commitment to developing a balanced and efficient investment environment that serves investors of all asset classes. 'These positive indicators showcase the robustness of the Kuwaiti capital market's regulatory framework and our continued efforts to enhance infrastructure, diversify products and elevate the investor experience, further strengthening Boursa Kuwait's position as a catalyst for sustainable economic growth that meets the standards of investors across all segments,' he added. 'The segmentation of the market plays a pivotal role in structuring trading activities to meet liquidity needs and accommodate a diverse investor base. The 'Premier' Market has maintained stable trading values, while the 'Main' Market has shown remarkable activity, reflecting heightened interest and interaction with the investment opportunities it offers,' he said. As part of its ongoing efforts to strengthen the Kuwaiti capital market's global presence, Boursa Kuwait organized a series of roadshows and corporate days targeting the international investment community in collaboration with Kuwait Clearing Company. These included a virtual roadshow for asset managers in Asia in collaboration with HSBC, as well as an in-person roadshow in London in collaboration with Jefferies Financial Group. The events showcased Boursa Kuwait's journey since privatization and highlighted the key developments and investment opportunities within the Kuwaiti capital market. Additionally, Boursa Kuwait participated in the fourth GCC Exchanges Conference, organized by HSBC in London, coinciding with its 15th Corporate Day, which featured eight companies listed on the 'Premier' Market. Al-Osaimi noted that Boursa Kuwait continues to attract investors through its series of Corporate Days and Roadshows held in major financial capitals, reflecting the State of Kuwait's vision to emerge as a premier financial and investment hub in the region. He added, 'Through active engagement with world-renowned investment banks, sovereign wealth funds, pension funds and asset management firms, the exchange has cultivated a robust investor base as institutional investors accounted for 65.08% of total participants, a testament to the Kuwaiti capital market's growing stability, enhanced liquidity, and increasing appeal to both local and international investors.' The Boursa Kuwait CEO concluded his remarks by thanking the Capital Markets Authority, Kuwait Clearing Company and market participants for their continued trust in Boursa Kuwait and its role as a vital contributor to the country's economic development and reaffirmed the company's commitment to expanding its range of products, enhancing market efficiency and accessibility, focusing on strong governance and transparency to further strengthen investor confidence. Since its inception, Boursa Kuwait has worked diligently to create a thriving capital market that attracts local and foreign investors through a broad spectrum of new products and services, infrastructure upgrades, and market reform initiatives, as part of its multi-phase market development plans. The company was fully privatized in 2019, the first government entity in the country to successfully undergo the process, bringing about greater levels of efficiency. Boursa Kuwait also self-listed in September 2020 and has made great strides in sustaining its operations and business continuity in the face of uncertainties and challenges. The company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans and showcases some of the standout listed companies and the investment opportunities that reside in the Kuwaiti capital market through its series of Roadshows and Corporate Days, putting these companies in touch with some of the world's leading investment firms and financial institutions and highlighting their financial health and business strategies and outlooks, to help investors gain an in-depth understanding of the benefits and opportunities of investing in Kuwaiti companies. About Boursa Kuwait: The establishment of Boursa Kuwait in 2014 marked the first step in the privatization of the Kuwait Stock Exchange, which was originally founded in 1977 as the first stock exchange in the Gulf Cooperation Council (GCC) region. The Exchange was restructured in 1983 as an independent financial institution. The transitional phase began in 2016, during which Boursa Kuwait officially took over the operations of the Kuwait Stock Exchange under an official license granted the same year, following the successful completion of the transition. This process involved developing the Exchange's infrastructure and aligning its operations with international best practices and standards. A key objective was to establish an advanced, reliable trading platform built on principles of efficiency, credibility, and transparency—serving all asset classes while focusing on the interests of market participants and the broader national economy. Boursa Kuwait has undertaken a series of market reforms as part of its comprehensive strategy to enhance the market in multiple phases. The company successfully introduced innovative investment tools, increased transparency, and restructured the market to boost liquidity and enhance its competitiveness. These efforts are in line with Boursa Kuwait's mission-driven strategy to elevate the market in accordance with global standards. As a result of these developmental and improvement initiatives, Kuwait's capital market was reclassified as an "Emerging Market" by leading global index providers—further reinforcing Kuwait's status as a prominent regional financial hub. In a landmark step for privatization in Kuwait, Boursa Kuwait's privatization process was completed in two phases. The first phase took place in February 2019, when a consortium of Kuwaiti investment companies and an international operator won the privatization bid and acquired a 44% stake in the company. The second phase was completed in December 2019 through a public offering of the Capital Markets Authority's 50% stake in the company, which was allocated exclusively to Kuwaiti citizens. The offering was oversubscribed by more than 850%. Boursa Kuwait is self-listed on the "Premier Market" under the ticker symbol "Boursa". For more information, please contact: Ahmad Rashed Al-Owaish Public Relations and Media Manager – Boursa Kuwait Email: AAlowaish@
Zawya
13 hours ago
- Business
- Zawya
Bahrain: BBK reports first-half net profit of $102.39mln
Bahrain - BBK has announced its financial results for the half year ended June 30, 2025, including the second quarter of the year. The group achieved a net profit attributable to the owners of the bank of BD17.5 million for the second quarter of 2025 compared to BD16.2m in the same period last year, an increase of 8.0 per cent. The basic and diluted earnings per share amounted to 10 fils compared to 9 fils achieved during the corresponding period last year, reflecting a growth of 8.2pc. Total comprehensive income attributable to the owners of the bank increased by 73.2pc from BD9.7m achieved during the second quarter of last year to BD 16.8m during the current period, mainly due to the increase in market values of investment securities. The increase in net profit was mainly attributable to a higher share of profit from associates and joint ventures, recording a profit of BD 0.2m during the second quarter of 2025 compared to a loss of BD1.1m during the second quarter of the corresponding year. In addition, net fees and commission income increased by 9.3pc from BD4.3m to BD4.7m. Furthermore, net provisions and credit losses were reported as BD5.9m in the second quarter of 2024 compared to BD2.5m during the same period of the current year, representing a drop of 57.6pc. On the other hand, net interest income was lower by 5.4pc at BD30.0m from BD31.7m, whilst total operating expenses increased by 8.5pc from BD17.6m to BD19.1m. The group achieved a net profit attributable to the owners of the bank of BD38.6m for the first half of 2025 compared to BD36.5m in the same period last year, an increase of 5.8pc. The basic and diluted earnings per share amounted to 21 fils compared to 20 fils during the same period last year, reflecting a growth of 5.9pc. Total comprehensive income attributable to the owners of the bank for the first half of 2025 amounted to BD32.3m compared to BD36.9m during the corresponding period last year, representing a decline of 12.5pc, as a result of the drop in valuation of investment securities due to market volatility. The net profit was supported by higher share of profit from associated companies and joint ventures, which amounted to BD0.6m during the first half of the current year, compared to a share of loss of BD2.1m during the same period last year. Moreover, the net fees and commission income registered a solid growth of 9.3pc increasing from BD8.6m to BD9.4m. Furthermore, investment and other income increased by 21.9pc from BD9.6m to BD11.7m, reflecting the bank's dynamic business model and its efforts to diversify income from non-interest income streams. Also, the group's net provisions and credit losses reported as BD5.7m compared to BD9.6m for the same period of the year 2024, showing a decline of 40.6pc, mainly on account of active management of credit risk and distressed exposures, and higher recovery efforts. On the other hand, net interest income decreased by 8.1pc from BD63.9m to BD58.7m as a result of market interest rate cut witnessed in last quarter of 2024. Total operating expenses grew by 6.3pc from BD33.6m during the first half of 2024 to BD35.7m during the same period of this year, mainly due to continued investment in our human capital and various strategic and business initiatives. The total shareholders' equity attributable to the owners of the bank reported a drop of 1.5pc at BD611.7m as of end of June 2025, compared to BD620.8m as of year-end 2024, mainly due to the dividend declaration. Total assets as of end of June 2025 reported a growth of 2.5pc to stand at BD4,295.4m (31 December 2024: BD4,192.6m). Net loans and advances reported a growth of 14.1pc at BD2,046.6m (31 December 2024: BD1,794.1m) while investment securities portfolio grew by 20.5pc to BD1,131.6m (31 December 2024: BD939.4m). On the other hand, treasury bills decreased by 14.6pc to reach BD340.8m (31 December 2024: BD399.2m), deposits and amounts due from banks and other financial institutions decreased by 30.6pc to stand at BD116.5m (31 December 2024: BD167.9m). Customer deposits registered a decline of 3.0pc to stand at BD2,340.0m (31 December 2024: BD2,411.3m), driven by market dynamics and customer behaviour preferences. Based on the interim results achieved, the board of directors has decided to distribute an interim cash dividend of 12.5pc (12.5 fils per share), subject to regulatory approvals. Commenting on the group's results, the board of directors stated: 'In a period marked by a challenging and uncertain operating environment, we are pleased to announce BBK achieving solid financial results. The achievement is the outcome of a clear strategic focus, disciplined risk management and a strong commitment to long-term value creation.' Yaser Alsharifi, BBK's group chief executive, added: 'I am delighted with the sound performance achieved by BBK. In addition to the steady growth in our net profit, we continued to invest in our environmental, social, and governance (ESG) initiatives as we made significant strides in advancing our commitment towards integrating sustainability into our core operations, strengthening our governance practices and driving positive impact in the communities we serve. Recently, we have announced our collaboration with the Royal Humanitarian Foundation, which aligns with the bank's broader vision to support community development and foster impactful humanitarian and charitable efforts across the Kingdom of Bahrain. 'As we reflect on another period of strong performance, I am confident in the solid foundation we have built for the future. Looking ahead, we remain committed to creating lasting value for our shareholders, partners and communities. 'Subsequent to the quarter end, the Central Bank of Bahrain (CBB) has approved the transfer of HSBC Bank Middle East, Bahrain Branch's retail (consumer) banking operation to BBK and we have identified that completion of the transfer will take place by the fourth quarter of 2025. We are thrilled to welcome HSBC Bahrain's retail customers and employees to the BBK family and commit to a seamless integration. This transaction represents a key achievement in our pursuit of strategic objectives, enhancing our market reach and shareholders' value. The milestone aligns with BBK's broader vision of strengthening its foothold in the banking sector by leveraging strategic opportunities that support the bank's long-term ambitions. 'The bank successfully closed a $500m, three-year club loan facility, which shall support bank's strategic initiatives, business expansion, and refinance the 2023 facility. Aligned with BBK's sustainability objectives and its commitment to diversifying funding sources, the facility has been structured to include a sustainability-linked option. This highlights BBK's strong financial position and its dedication to sustainable growth'. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
18 hours ago
- Business
- Zawya
Yansab posts lower profits in H1-25; revenues hit over $773mln
Riyadh: Yanbu National Petrochemical Company (Yansab) recorded an 82.03% plunge in net profit to SAR 58.20 million during the first half (H1) of 2025. The generated net profits were compared with SAR 324 million in H1-24, according to the financial results. Revenues amounted to SAR 2.90 billion as of 30 June 2025, down 4.62% year-on-year (YoY) from SAR 3.04 billion. The earnings per share (EPS) shrank to SAR 0.10 in H1-25 from SAR 0.58 a year earlier. Income Statements for Q2-25 In the second quarter (Q2) of 2025, the company achieved profits valued at SAR 44.50 million, marking an 80.20% YoY drop from SAR 224.80 million. The revenues plunged by 15.86% to SAR 1.39 billion in Q2-25 from SAR 1.65 billion in Q2-24. Quarter-on-quarter (QoQ), the Q2-25 net profits hiked by 224.81% from SAR 13.70 million in January-March 2025, while revenues fell by 7.81% from SAR 1.51 billion. Dividends for H1-25 Yansab is set to pay cash dividends valued at SAR 562.50 million for H1-25 on 11 September. The company will disburse SAR 1 per share for 562.50 million eligible shares. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
18 hours ago
- Business
- Zawya
Dr. Sulaiman Al Habib logs over $293mln profits in H1-25; dividends unveiled
Riyadh: The net profits after tax of Dr. Sulaiman Al Habib Medical Services Group increased by 3.80% to SAR 1.14 billion in the first half (H1) of 2025 from SAR 1.10 billion in H1-24. Revenues surged by 28.40% year-on-year (YoY) to SAR 6.54 billion as of 30 June 2025 from SAR 5.09 billion, according to the financial statements. Earnings per share (EPS) amounted to SAR 3.28 in H1-25, versus SAR 3.16 in H1-24. Results for Q2-25 In the second quarter (Q2) of 2025, the net profits witnessed a 6.48%% YoY rise to SAR 591.02 million, compared to SAR 555.03 million. The revenues climbed by 31.50% to SAR 3.38 billion in Q2-25 from SAR 2.57 billion a year earlier. Quarterly, the Q2-25 net profits increased by 6.10% from SAR 557.01 million in Q1-25, while revenues grew by 7.17% from SAR 3.15 billion. Cash Dividends The medical group announced cash dividends totaling SAR 416.50 million to 350 million eligible shares for Q2-25. The board approved the distribution of SAR 1.19 per share, representing 11.90% of the share nominal value. Eligibility and payment dates for the dividends will be 31 July and 18 August, respectively. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Yahoo
a day ago
- Business
- Yahoo
Pacific Valley Bancorp Announces Its Second Quarter 2025 Financial Results
SALINAS, Calif., July 28, 2025 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the second quarter of 2025. Net income for the quarter ended June 30, 2025, was $923 thousand, a decrease of 9.0% or $91 thousand from the quarter ended June 30, 2024, primarily due to higher personnel expense. FINANCIAL HIGHLIGHTS: Net income for the quarter ended June 30, 2025, was $923 thousand, a decrease of 2.3% or $22 thousand from the quarter ended March 31, 2025. The decrease was primarily the result of higher personnel expense from an increase in staff, partially offset by higher loan interest income. Basic earnings per share for the quarter was $0.19 compared to $0.19 per share for the prior quarter. Net income for the six months ended June 30, 2025 was $1.9 million, a decrease of 15.7% or $348 thousand from the six months ended June 30, 2024. The decrease was the result of higher personnel expense and higher deposit interest expense, partially offset by higher loan interest income. Net interest margin for the quarter ended June 30, 2025 was 3.61%, compared with 3.43% for the quarter ended March 31, 2025. The increase was the result of higher loan interest income and lower certificate of deposit interest expense, partially offset by higher money market interest expense. Net interest margin for the six months ended June 30, 2025 was 3.50%, compared with 3.45% for the six months ended June 30, 2024. Gross loans outstanding grew by 9.5% or $43.5 million from June 30, 2024 to June 30, 2025, primarily as a result of increased agricultural real estate, CRE and C&I loans. Non-performing loans to gross loans for the quarter ended June 30, 2025, was 0.04% compared to 0.22% as of June 30, 2024. The Bank subsidiary's Community Bank Leverage Ratio has been consistently strong. As of June 30, 2025 the ratio was 13.37%, compared to 13.27% on March 31, 2025, and 13.75% on June 30, 2024. The regulatory requirement for this ratio is 9.00%. "Loans increased $8 million in the second quarter as our pipeline grew to the highest level we've seen since the end of the pandemic. Deposits increased $11 million as we have experienced growth in core deposits. We have been building our infrastructure to drive future growth with the establishment of our loan production office in downtown Salinas, and, later this year, we will be opening a branch office in Santa Cruz," said Anker Fanoe, CEO. "Changes in our market resulting from the acquisitions of competitor banks present opportunities for growth. We have increased loan and deposit production and support personnel to take advantage of these opportunities, and will also be increasing our spending on marketing. We recently brought on an outstanding commercial lending team with deep experience in our target areas, and they are starting to gain traction. These investments will reduce current net income, but we believe they will lead to greater profitability in the long term. I am excited about the Company's prospects as business conditions change," stated CEO Fanoe. "Our liquidity position remains strong, as our primary liquidity ratio (cash, deposits held in other banks, and securities as a percentage of total assets) was 11.0% on June 30, 2025, compared to 12.9% for the same month a year ago. As of June 30, 2025, on-balance sheet liquidity totaled $63 million and contingent liquidity, which includes borrowing capacity with the Federal Home Loan Bank, the Federal Reserve Bank, correspondent banks and brokered deposits, was $362 million. Our combined on-balance sheet liquidity and contingent liquidity amount to 154.1% of our uninsured deposits," said Steve Leen, Executive Vice President and CFO. As of June 30, 2025, total assets were $572.4 million. Since June 30, 2024, total assets have increased $38.6 million or 7.2%, primarily as a result of an increase in loans. Since March 31, 2025, total assets have increased by $8.5 million or 1.5%, also primarily due to an increase in loans. The investment securities portfolio totaled $25.1 million as of June 30, 2025, $24.4 million as of March 31, 2025, and $27.0 million as of June 30, 2024; the unrealized losses in the portfolio were $0.6 million, $0.6 million, and $1.1 million for the comparable periods, respectively. The securities portfolio made up 4.4% of total assets and the unrealized loss was 2.3% of the investment portfolio as of June 30, 2025. Total gross loans outstanding were $499.3 million as of June 30, 2025. Gross loans grew by 9.5% or $43.5 million from June 30, 2024 to June 30, 2025. The Company's loan portfolio increased by $7.7 million or 1.6% during the quarter ended June 30, 2025. Increased agricultural real estate and CRE loans were the predominant growth components compared to prior year quarter, and increased C&I and CRE loans were the primary components of the increase over prior quarter. As of June 30, 2025, total deposits were $490.2 million. Total deposits have increased by $30.6 million or 6.7% compared to the prior year quarter. The increase resulted from higher money market accounts partially offset by lower demand deposits and certificate of deposit accounts. Shareholders' equity was $58.6 million on June 30, 2025, representing growth of $4.7 million or 8.7% over a year ago, primarily attributable to increased retained earnings from net income. For the Company's subsidiary, Pacific Valley Bank, equity increased to $74.7 million on June 30, 2025 compared to $73.9 million on March 31, 2025. The Bank is classified as well capitalized with a Community Bank Leverage Ratio of 13.37%, significantly above the regulatory minimum of 9.00%. Net Interest Income was $4.9 million for the quarter ended June 30, 2025, compared to $4.2 million for the quarter ended June 30, 2024. Net interest income was affected by increased interest income of $0.8 million, partially offset by increased interest expense of $0.1 million. Net interest margin for the second quarter of 2025 was 3.61% compared with 3.32% for the same period in 2024. The increase was the result of higher loan interest income and relatively flat deposit interest expense. Net interest income was $9.5 million for the six months ended June 30, 2025, compared to $8.7 million for the six months ended June 30, 2024. Net interest income was impacted by increased interest income of $1.2 million, partially offset by increased interest expense of $0.3 million. Net interest margin for the six months ended 2025 was 3.50% compared with 3.45% for the same period in 2024. The increase was the result of higher loan interest income, partially offset by a small increase in deposit interest expense. No provision for credit losses was recorded in the quarters or six months ended June 30, 2025 or June 30, 2024. The lack of provision in 2025 and 2024 reflects the quality of the Company's loan portfolio. The allowance for credit losses was 1.54% of gross loans as of June 30, 2025. Credit quality remains very strong; non-performing loans to gross loans as of June 30, 2025 was 0.04% compared to 0.22% as of June 30, 2024. For the quarter ended June 30, 2025, non-interest income was $396 thousand compared with $412 thousand for the quarter ended June 30, 2024, and $567 thousand for the quarter ended March 31, 2025. The decrease from the previous quarter was due to $200 thousand of income recognized in the prior quarter from a lease buyout transaction concerning our purchase of a new branch office building in Salinas. Year to date non-interest expense was $7.8 million compared with $6.3 million for the six months ended June 30, 2024, an increase of $1.5 million, or 24.3%. The increase was primarily caused by higher personnel expenses. Non-interest expense was $4.0 million for the second quarter of 2025, an increase of $848 thousand, or 27.1%, compared to the quarter ended June 30, 2024, also primarily related to higher personnel expense from the increase in loan and deposit production staff. Return on average assets was 0.66% and 0.67% for the three months and six months ended June 30, 2025, respectively, versus 0.78% and 0.85% for the comparable periods of the prior year, due to higher personnel expense, partially offset by higher interest income. Pacific Valley Bancorp Selected Financial Data - Unaudited $ In thousands, Except per Share DataAssetsJune 30, 2025March 31, 2025June 30, 2024 Cash and Due From Banks$38,086$38,873$41,735 Investment Securities25,12224,43126,966 Gross Loans Outstanding499,335491,654455,811 Allowance for Credit Losses(7,672)(7,640)(7,544) Other Assets17,56216,60616,823 Total Assets$572,433$563,924$533,791Liabilities and CapitalJune 30, 2025March 31, 2025June 30, 2024 Non-Interest Bearing Deposits$160,412$149,549$173,783 Interest Bearing Deposits329,799329,500285,856 Borrowings19,90823,89416,855 Other Liabilities3,7463,4313,398 Equity58,56857,55053,899 Total Liabilities and Capital$572,433$563,924$533,791Key Ratios:June 30, 2025March 31, 2025June 30, 2024 Net Loan to Deposits100.30 %101.04 %97.53 % Allowance for credit losses to gross loans1.54 %1.55 %1.66 % Non-performing loans to gross loans0.04 %0.03 %0.22 % Equity to Year-to-Date Average Assets10.43 %10.27 %10.37 % Book Value per Share$11.83$11.60$10.95 Income Statement, Three Months EndedJune 30, 2025March 31, 2025June 30, 2024 Interest Income $7,692$7,324$6,854 Interest Expense2,7952,7332,699 Net Interest Income 4,8974,5914,155 Provision for Credit Losses000 Non-Interest Income396567412 Non-Interest Expense3,9813,8193,133 Income Tax389394420 Net Income$923$945$1,014Key Ratios, Three Months Ended:June 30, 2025March 31, 2025June 30, 2024 Earnings per basic share$0.19$0.19$0.21 Net Interest Margin, annualized3.61 %3.43 %3.32 % Quarter Efficiency Ratio75.21 %74.04 %68.60 % Return on Average Assets, annualized0.66 %0.67 %0.78 % Return on Average Equity, annualized6.28 %6.62 %7.40 % Pacific Valley Bancorp Selected Financial Data - Unaudited $ In thousands, Except per Share DataIncome Statement, Six Months EndedJune 30, 2025June 30, 2024 Interest Income $15,016$13,836 Interest Expense5,5285,186 Net Interest Income 9,4888,650 Provision for Credit Losses00 Non-Interest Income963763 Non-Interest Expense7,8006,274 Income Tax783923 Net Income$1,868$2,216Key Ratios, Six Months EndedJune 30, 2025June 30, 2024 Earnings per basic share$0.38$0.45 Net Interest Margin, annualized3.50 %3.45 % Efficiency Ratio74.63 %66.65 % Return on Average Assets0.67 %0.85 % Return on Average Equity6.44 %8.26 % ABOUT PACIFIC VALLEY BANCORP:Pacific Valley Bancorp completed its formation and reorganization as a bank holding company for Pacific Valley Bank on January 4, 2022. The Company is a registered bank holding company with the Federal Reserve Bank, but it has not registered its securities under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, and it therefore does not file periodic reports with the Securities and Exchange Commission. Pacific Valley Bank is a full service business bank that commenced operations in September 2004 to provide exceptional service to customers in Monterey County. Pacific Valley Bank operates business at three locations; administrative headquarters and branch offices in Salinas, King City and Monterey, California. The Bank offers a broad range of banking products and services, including credit and deposit services to small and medium sized businesses, agriculture related businesses, non-profit organizations, professional service providers and individuals. For more information, visit . This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. Accordingly, readers should not place undue reliance on these forward- looking statements. These risks and uncertainties include, but are not limited to, economic conditions in all areas in which the Company conducts business, including the competitive environment for attracting loans and deposits; supply and demand for real estate and periodic deterioration in real estate prices and/or values in California or other states where we lend; changes in the financial performance and/or condition of our borrowers, depositors, key vendors or counterparties; changes in our levels of delinquent loans, nonperforming assets, allowance for loan losses and charge-offs; the effect of changes in laws and regulations, including accounting practices; changes in estimates of future reserve requirements and minimum capital requirements based upon periodic review thereof under relevant regulatory and accounting requirements; fluctuations in the interest rate and market environment; cyber-security threats, including the loss of system functionality, theft, loss of customer data or money; technological changes and the expanding use of technology in banking; the costs and effects of legal, compliance and regulatory actions; acts of war or terrorism, or natural disasters; and other factors beyond the Company's control. These forward-looking statements, which reflect management's views, are as of the date of this release. Pacific Valley Bancorp has no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. ContactAnker Fanoe, Chief Executive Officer (831) 771-4384 View original content to download multimedia: SOURCE Pacific Valley Bancorp
