Allegheny Bancshares, Inc., the parent company of PCB, announces first quarter net income of $2.33 million versus $1.34 million for the same period in 2025 or a $984 thousand increase. This represents per share net income of $2.84 and compares to $1.64 per share for the same period in 2025.
Financial Highlights include:
Comparisons are to the corresponding period in the prior year unless otherwise stated.
Comparisons are to the corresponding period in the prior year unless otherwise stated.
- Year to date tax equivalent net interest margin was 4.28%, versus 3.84% in the same period of 2025 and 4.17% in the fourth quarter of 2025.
- Return on Average Assets for the first quarter increased to 1.15% versus .70% in the same quarter in the prior year. Likewise, Return on Average Equity increased to 16.66% versus 11.27%, respectively in 2026 compared to 2025.
- Total assets increased $10.8 million (1.33%) to $825.2 million versus year end and $42.5 million (5.43%) compared to the prior year.
- Loans totaled $691.2 million. This is an increase of $8.8 million (1.29%) and $66.3 million (10.62%), respectively for the year to date and the trailing twelve-month period.
- Deposits increased $7.2 million (1.03%) year to date and $25.0 million (3.67%) for the trailing twelve months, to $706.4 million.
- Non-performing assets totaled $5.0 million (.60%) of total assets, which is the same level recorded the previous year.
- Year to date the provision for credit losses totaled $165 thousand versus $600 thousand for the same period in 2025. This reduction was primarily driven by improvements in risks associated with commercial real estate and the consumer auto portfolio.
William A. Loving, Jr., President & CEO, commented, “Our first quarter net income of $2.33 million represents a record for any first quarter and is only a slight decrease versus fourth quarter 2025 which totaled $2.49 million. I am especially pleased with these results, since the first quarter is typically more challenging due to two less operating days and increased seasonal expenses. As noted above, our net interest margin continues to improve significantly. For the quarter, income on earning assets increased $858 thousand to $11.46 million, while interest expense decreased $321 thousand to $3.37 million.
We continue to experience controlled loan growth, increasing $8.8 million year to date and $66.3 million year over year. Key areas driving these results include consumer loans which increased $4.2 million and $10.7 million, respectively for the quarter and year over year. Consumer real estate loans increased $9.5 million and $23.2 million for the quarter and twelve months, respectively. Commercial loans were essentially flat for the quarter and increased $12.9 million in the trailing twelve months. Finally, loans to non-depository financial institutions decreased $5.1 million during the quarter and increased $19.5 million year over year.
Deposit growth of $7.2 million and $25.0 million for the quarter and trailing twelve months continues to be spread across all our geographic areas for both the most recent quarter as well as year over year. This growth in deposits has continued to contribute to our improved margins as lowering cost core deposits have increased while more costly time and wholesale deposits have decreased.
During the 1st quarter, we deployed Interactive Teller Machines (ITMs) across all our markets. These advanced systems allow customers to interact directly with PCB employees, while offering extended banking service hours, and the opportunity to expand remote service capabilities - strengthening our competitive position. These enhancements align with the evolving expectations of our customers and complement our existing suite of electronic banking channels.
Even as we advance technologically, our commitment to personalized service remains central to who we are. Our Summersville, West Virginia, financial center – that opened in January 2026 - is a great representation of that model. Visit our friendly team in branch, talk with a virtual teller at our drive up or lobby ITMs, open an account from the comfort of your home, or have the bank come to your business with our courier service – customers choose their preference. Bank Your Way with Your Bank for Generations®.
Construction on our Daniels Financial Center will begin in the 2nd quarter with plans to open in early 2027. An outdoor rendering is included below, and we look forward to the completion of this renovation and the opportunity to further expand our footprint. One unique feature to the new office will be our ‘Pay it forward Coffee Bar’. The coffee bar will operate on a suggested donation basis with all proceeds shared with local non-profit organizations serving the local community.”
