Allegheny Bancshares, Inc., the parent company of PCB, announces third quarter net income of $1,760,679 versus $1,386,187 for the same period in 2024 or a 27.02% increase. This represents per share net income of $2.15 and compares to $1.69 per share for the same period in 2024.
Financial Highlights include:
Comparisons are to the corresponding period in the prior year unless otherwise stated.
- Third quarter net income increased $177,526 (11.21%) when compared to second quarter net income of $1,583,153 and increased $416,880 (31.02%) when compared to first quarter net income of $1,343,799.
- Year to date net income totaled $4,687,631 ($5.72 per share) an increase of $1,151,824 (32.58%) versus $3,535,807 ($4.31 per share) for the prior year.
- Third quarter tax equivalent net interest margin was 4.12%, which is an increase of .39% when compared to third quarter 2024. Year-to-date tax equivalent net interest margin was 3.98%, which is an increase of .38% when compared to the same period in 2024.
- Total assets increased $27.3 million (3.50%) to $805.6 million versus year end and $25.5 million (3.27%) compared to the prior year.
- Loans held for investment totaled $647.5 million. This is an increase of $19.6 million (3.13%) and $28.8 million (4.65%), respectively for the year to date and the trailing twelve-month periods.
- Deposits increased $32.9 million (4.93%) year to date and $34.9 million (5.26%) for the trailing twelve months, to $699 million.
- Non-performing assets totaled $4.5 million (.56%) of total assets, which compares favorable with year-end 2024.
- Year-to-date provision for loan losses totaled $2.3 million versus $1.4 million for the same period in 2024, as a result of continued loan growth and adjustments in the Allowance for Credit Losses model.
William A. Loving, Jr., ABI President & CEO, commented, “I am very pleased to announce that our Board of Directors has declared a $2.60 per share dividend to all Common Shareholders, adjusted accordingly for Class A and Class B Shareholders of Record on November 27, 2025, and payable December 1, 2025. This year’s dividend represents a $.12 per common share increase of 4.84% and a yield of 3.10% based upon the last reported Common share price of $84.
This dividend increase was made possible by our continued earnings growth that has been fueled by an increase in the tax equivalent Net Interest Margin (NIM) which, as noted above, rose to 4.12% for the third quarter. Sequentially, this marks an additional .12% increase in NIM compared to the second quarter of 2025. As a result of the margin improvement, the third quarter marks the third consecutive quarter where net income rose more than 30% versus the comparable quarter in 2024. We also continue to enjoy steady, sustainable growth in total assets, loans, and deposits.
This success, I’m confident, can be attributed to the continued desire and appreciation of our community banking model, which was further validated by the accolades we were honored to receive again this year. Across our various communities, we were named Best Bank, Best Mortgage Company, Best Place to Work, and Best Customer Service provider in numerous competitions.
2025 is quickly coming to a close and what a year it has been. I hope it doesn’t come as a surprise to you that we recently celebrated our 100th anniversary – a century in business building our communities. Many individuals have played a part in our growth and success leading PCB to be the 6th largest bank headquartered in West Virginia - our many PCB team members, our Board of Directors, our shareholders, and our loyal customers. For this, I am truly grateful.”