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 4.34%, which is an increase of .43% when compared to the same period in 2025. On a linked quarter basis, the margin increased to 4.40% from 4.28%.
- Year to date net income totaled $4.69 million ($5.71 per share) compared to $2.93 million ($3.57 per share) the prior year, an increase of 60.11%.
- Total assets increased $35.4 million (4.34%) to $849.7 million versus year end and $59.6 million (7.55%) compared to the prior year.
- Loans totaled $711.7 million. This is an increase of $29.4 million (4.30%) and $66.2 million (10.26%), respectively, for the year to date and the trailing twelve-month period.
- Deposits increased $17.7 million (2.53%) year to date and $30.0 million (4.36%) for the trailing twelve months, to $716.9 million.
- Non-performing assets totaled $6.7 million (.78%) of total assets, or an increase of $1.5 million over the prior year.
- Year to date provision for loan losses totaled $757 thousand versus $1.5 million for the same period in 2025. Improvements in risks associated with the consumer auto portfolio and with commercial real estate were the primary drivers of the change.
Neil W. Hayslett, ABI President & CEO, commented, “This quarter marked an important period of leadership transition for ABI and PCB, as I stepped into the role of CEO and President of ABI and CEO of PCB in July, following Bill Loving’s retirement after 26 years of leadership. I would like to take a moment to credit Bill for his legacy and leadership that led to the results contained in this release. I appreciate his guidance, mentorship and friendship since I joined ABI/PCB in 2020.
I am equally pleased to welcome Jonah Pence as President of PCB, a role he assumed recently. Jonah has been part of PCB’s leadership team since 2019. Together, we are committed to building on the strong foundation that has been established, honoring the relationships and values that have defined PCB, while continuing to position the bank for long-term success.
It is an honor to offer comments on our financial results for the first time since assuming the role of CEO. Both our second quarter and year to date net income of $2.36 million and $4.69 million, respectively, represent record earnings versus comparable periods. This level of earnings helped us achieve significant improvements in our year to date Return on Average Assets (ROAA) of 1.14% versus .75% for the same period in 2025. Likewise, our Return on Average Equity (ROAE) jumped to 16.37% from 11.95% in the first six months of 2025.
As noted above, our Net Interest Margin continues to expand, increasing from 4.17% in the fourth quarter of 2025, to 4.28% in the first quarter of 2026 and now 4.40% for the second quarter of 2026. Income from earning assets reached $23.05 million year to date, representing a $1.73 million increase over the comparable period in 2025. A disciplined pricing strategy coupled with changes in our deposit mix resulted in a $604 thousand decrease in interest expense to $6.73 million for the first six months of 2026.
Loan growth continues to drive our improved earnings as total loans increased $29.4 million year to date and $66.2 million year over year. Major contributors to our growth include an increase in consumer loans of $11.7 million and $15.0 million during 2026 and year over year, respectively. Commercial loans increased $743 thousand and $6.8 million during the first six months of 2026 and for the trailing twelve-month period, respectively. Consumer real estate increased $11.0 million and $13.8 million, respectively, for the year to date and the trailing twelve-month period. Finally, loans to non-depository financial institutions increased $6.0 million during 2026 and $30.6 million year over year.
Our deposit growth of $17.7 million and $30.0 million, respectively, for the year to date and trailing twelve months is heavily concentrated in lower cost interest bearing demand and savings products versus more expensive time deposits. For the six months and trailing twelve months, time deposits accounted for only $2.9 million and $660 thousand of the total deposit growth, respectively.
In our first quarter 2026 report, a rendering was provided of our Daniels, West Virginia, financial center. We are excited that construction is well underway, and we are on pace to open the financial center in late 2026 or early 2027. We were also the proud recipient of ‘Best of Hardy County’ for Bank, Customer Service, and Place to Work. PCB is currently in the running for the Best of West Virginia competition.
Being recognized in this way reflects the strong relationships we have built in the communities we serve and the continued commitment of our team to deliver an exceptional banking experience. As we look ahead, we remain focused on investing in our communities, strengthening our relationships, and positioning PCB for continued growth and success.”