This represents net income per common share of $3.01 and $8.69 for the fourth quarter and year to date. This compares to net income of $1,538,829 ($1.86 per share) and $5,074,636 ($6.15 per share), respectively for the same periods in 2024.
Financial Highlights include:
Comparisons are to the corresponding period in the prior year unless otherwise stated.
- Fourth quarter net income and earnings per share increased $949,386 (61.69%) and $1.15, respectively when compared to the same period in 2024.
- Year-to-date net income of $7,175,846 ($8.75 per share) increased $2,101,210 (41.41%) versus $5,074,636 ($6.19 per share) from the prior year.
- Fourth quarter tax equivalent net interest margin was 4.17%, which is a .50% increase compared to the fourth quarter of 2024. Year to date tax equivalent net interest margin was 4.03% which is an increase of .42% compared to the full year of 2024.
- Total assets increased $36.1 million (4.65%) to $814.4 million versus prior year total of $778.2 million.
- Loans held for investment totaled $657.8 million. This is an increase of $30.0 million (4.78%) in the last twelve months.
- Deposits increased $33.4 million (5.01%) for the year to $699.2 million.
- Non-performing assets totaled $5.1 million (.62% of total assets) versus $5.6 million (.72% of total assets) at year end 2024.
- Year-to-date provision for loan losses of $2.9 million compared to $2.0 million for the prior year. This increase is a result of continued loan growth and adjustments in the Allowance for Credit Losses model.
William A. Loving, Jr., President & CEO, commented, “I am extremely pleased to share our fourth quarter and full year results, both of which reflect record earnings for our company. While we continue to enjoy steady loan and deposit growth, our significantly improved tax equivalent net interest margin (NIM) propelled our performance. As noted above, our full year NIM expanded to 4.03%. The yield on average assets improved .18% to 5.61%, while the cost of average funds decreased .23% to 1.98%. This is first time since before the pandemic that the full year NIM has exceeded four percent (4.0%).
Regarding the balance sheet, 2025 marks the third consecutive year that both loans and deposits have grown in each of our three distinct regions. This is a gratifying testament to the acceptance we’ve gained and the value we bring to our geographic markets that span two states with over 200 miles separating our northernmost and southernmost offices. For the year all major loan categories increased, led by residential real estate ($12.7 million), commercial ($11.8 million) and consumer ($6.2 million). I believe it is important to note that growth of the consumer portfolio was net of approximately $13.6 million (gross) and $10.8 million (net at year end) of dealer finance loan sales that occurred in three separate transactions throughout the year.
To further articulate the strong regional deposit growth, on a consolidated basis, non-interest bearing deposits grew $16.0 million, interest bearing demand/savings grew $22.2 million, and time deposits contracted $4.8 million. Within the time deposit category, local deposits grew slightly with the decrease being a result of allowing non-local wholesale deposits to run off due to the strong local growth.
As our 100th anniversary celebration ends, we embark on a new century – one that brings new ways to bank with PCB. At year end, we launched a new technology that upgrades our ATMs to Interactive Teller Machines (ITMs) at 10 of our financial centers. This new technology combines a traditional service channel (ATMs) with new functionality to enhance our customer experience and extend our normal banking hours. During the first quarter of 2026, we will also upgrade additional ATMs to ITMs so that all our communities will enjoy the benefits of extended hours and greater functionality. For more information, please visit our locations page.
I am also pleased to announce that we opened our 15th financial center in Summersville, West Virginia, on January 5, 2026. This new location continues to fill out our footprint and provides a local office to support our existing relationships in that market, while positioning the bank for future growth. An official ribbon cutting and grand opening celebration will follow this spring, and we hope you will join us to visit our new office and meet our Summersville team.
Last, but certainly not least, I am excited to share that for the fourth consecutive year, PCB was voted Best Bank in West Virginia Living Magazine’s annual Best of West Virginia competition. This statewide recognition is an honor, and we are proud of this achievement. It is always meaningful to receive accolades voted on by our customers, particularly during our 100th year of serving our communities. It instills that our model of community banking is appreciated, but none of that would be possible without our shareholders, team members, and customers. We look forward to the year ahead and the opportunity to continue to be Your Bank for Generations®!”