Oakworth Capital Inc. Reports Balanced Top Line Growth

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April 23, 2026 12:01 PM EDT

BIRMINGHAM, Ala., April 23, 2026 /PRNewswire/ -- Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported balanced top line growth including 13% increase in revenue first quarter 2026 vs. first quarter 2025 resulting from 12% growth in loans, 10% growth in deposits and 18% growth in wealth assets year-over-year.  A loss-earnback trade and strategic write-down of other real estate impacted comparable period earnings as detailed below. Oakworth's Chairman and CEO Scott Reed stated, "While the loss-earnback and write-down transactions muted net income growth, these actions are consistent with our conservative leadership at Oakworth. We continue to be pleased with the underlying performance of the Company. Double-digit balance sheet and wealth asset growth led to strong revenue and core earnings performance as we begin 2026."

As of and quarter ended March 31, 2026 highlights include:

Income/Profitability:

  • Net income of $4.9 million compared to $5.0 million in first quarter 2025
  • Diluted earnings per share of $0.94 compared to $1.01 in first quarter 2025
  • Pre-tax pre-provision income of $7.8 million compared to $7.5 million one year ago
  • Revenue of $22.3 million: 13% higher than $19.8 one year ago
    • 12% year-over-year growth in net interest income
    • 18% year-over-year growth in trust and wealth fees
  • Non-interest expenses of $14.5 million compared to $12.3 million in first quarter 2025
    • 18% higher year-over-year
    • Includes $872 thousand ($660 thousand, net of tax) strategic write-down of other real estate
  • Loss-earnback trade on securities produced $127 thousand loss in period
    • Sale of $7.0 million in US Treasury securities with weighted average yield of 1.16%
    • Purchase of $7.0 million in GNMA MBS securities with weighted average yield of 4.91%
    • 6-month earnback period; accretive by approximately $125 thousand by year-end
  • ROAE of 13.0%
  • ROAA of 1.0%

Wealth Assets/Balance Sheet:

  • Wealth assets of $2.7 billion, 18% higher than $2.3 billion one year prior
  • Year-over-year loan growth of 11% on average basis and 12% on period end basis to $1.7 billion
  • Year-over-year deposit growth of 11% on average basis and 10% on period end basis to $1.8 billion
  • Tangible book value per share: $30.75

Safety and Soundness:

  • Credit quality metrics: 
    • $12.1 million non-performing loans
      • Inclusive of C&I credit moved to non-accrual during quarter
    • $0 past due +90 loans
    • $2.5 million ORE
    • 1.2% allowance for credit losses as percentage of loans, net
  • Capital ratios
    • Total risk-based capital: 11.8%
    • CET1: 10.6%
    • Tier 1 leverage: 9.5%

About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management, and advisory services to clients across the United States.

Oakworth has been ranked among American Banker's "Best Banks to Work for" for the past nine years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth's 2025 average Net Promoter Score (NPS) was 95 with a commensurate client retention rate of 95%. As of March 31, 2026, Oakworth had $2.0 billion in total assets, $1.7 billion in gross loans, $1.8 billion in deposits and $2.7 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.

Advisory services, including investment management and financial planning, are offered through Oakworth Asset Management LLC, a registered investment advisor that is owned by Oakworth Capital Bank, Member FDIC. Investment products and services offered via Oakworth Asset Management LLC are independent of the products and services offered by Oakworth Capital Bank, and are not FDIC insured, may lose value, have no bank guarantee, and are not insured by any federal or state government agency. Because Oakworth Asset Management LLC is owned by Oakworth Capital Bank and because associates of either entity may provide financial advice to our clients, there exists a conflict of interest to the extent that either party recommends the services of the other. Oakworth Asset Management LLC does not provide tax or legal advice. You should consult your tax advisor, accountant, and/or attorney before making any decisions with tax or legal implications. Additional information about Oakworth Asset Management LLC, including its services and fees, may be obtained from adviserinfo.sec.gov or by contacting Oakworth Asset Management directly.

For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: [email protected]

OAKWORTH CAPITAL INC.




















WEALTH AND TRUST (Unaudited)



















(In millions)


As of 


Change


Change



3/31/2026


12/31/2025


9/30/2025


6/30/2025


3/31/2025


03/31/2026 vs. 12/31/2025


3/31/2026 vs. 3/31/2025




















Wealth assets (non-balance sheet)


$           2,705


$           2,685


$           2,566


$           2,415


$           2,285


$                20


1 %


$              420


18 %




















CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited)













(in thousands)


As of 


Change


Change



3/31/2026


12/31/2025


9/30/2025


6/30/2025


3/31/2025


03/31/2026 vs. 12/31/2025


3/31/2026 vs. 3/31/2025

Assets



















Cash and due from banks


$       113,891


$       194,946


$       153,084


$       124,351


$       100,968


$        (81,055)


-42 %


$         12,923


13 %

Federal funds sold


1,951


1,325


950


1,900


525


626


47 %


1,426


272 %

Securities available for sale


213,286


201,684


189,673


175,535


175,599


11,602


6 %


37,687


21 %

Loans, net of unearned income


1,665,422


1,604,023


1,533,734


1,496,222


1,492,413


61,399


4 %


173,009


12 %

Allowance for credit losses


(19,871)


(19,348)


(18,734)


(17,944)


(17,015)


(523)


3 %


(2,856)


17 %

  Loans, net


1,645,551


1,584,675


1,515,000


1,478,278


1,475,398


60,876


4 %


170,153


12 %

Fixed assets


3,447


3,625


3,821


3,980


4,221


(178)


-5 %


(774)


-18 %

Interest receivable


7,560


7,246


6,845


6,611


6,909


314


4 %


651


9 %

Other assets


54,169


52,723


52,825


58,967


53,866


1,446


3 %


303


1 %

  Total assets


$     2,039,855


$     2,046,224


$     1,922,198


$     1,849,622


$     1,817,486


$          (6,369)


0 %


$       222,369


12 %




















Liabilities and Stockholders' Equity



















Liabilities:



















  Deposits:



















    Non-interest bearing deposits


$       320,493


$       304,683


$       300,340


$       273,119


$       270,536


$         15,810


5 %


$         49,957


18 %

    Interest-bearing deposits


1,467,134


1,526,302


1,397,942


1,299,175


1,356,172


(59,168)


-4 %


110,962


8 %

     Total deposits


1,787,627


1,830,985


1,698,282


1,572,294


1,626,708


(43,358)


-2 %


160,919


10 %

Total Borrowings


78,299


38,831


58,809


118,786


38,763


39,468


102 %


39,536


102 %

Accrued interest payable


598


1,223


710


1,452


559


(625)


-51 %


39


7 %

Other liabilities


20,950


26,521


20,657


21,333


20,382


(5,571)


-21 %


568


3 %

  Total liabilities


1,887,474


1,897,560


1,778,458


1,713,865


1,686,412


(10,086)


-1 %


201,062


12 %

  Total stockholders' equity


152,381


148,664


143,740


135,757


131,074


3,717


3 %


21,307


16 %

  Total liabilities and stockholders' equity


$     2,039,855


$     2,046,224


$     1,922,198


$     1,849,622


$     1,817,486


$          (6,369)


0 %


$       222,369


12 %




















OAKWORTH CAPITAL INC.




















CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)













(in thousands)


Quarter Ended


Change


Change



3/31/2026


12/31/2025


9/30/2025


6/30/2025


3/31/2025


1Q26 vs. 4Q25


1Q26 vs. 1Q25




















Interest income:



















   Loans, including fees


$         25,373


$         25,817


$         26,194


$         25,306


$         24,803


$             (444)


-2 %


$              570


2 %

   Securities available for sale


2,015


1,814


1,667


1,605


1,474


201


11 %


541


37 %

   Short term investments


1,201


1,772


1,058


1,043


1,169


(571)


-32 %


32


3 %

      Total interest income


28,589


29,403


28,919


27,954


27,446


(814)


-3 %


1,143


4 %

Interest expense:



















   Deposits


10,375


11,289


11,357


11,049


11,268


(914)


-8 %


(893)


-8 %

   Borrowings


763


678


1,114


1,022


637


85


13 %


126


20 %

      Total interest expense


11,138


11,967


12,471


12,071


11,905


(829)


-7 %


(767)


-6 %

      Net interest income


17,451


17,436


16,448


15,883


15,541


15


0 %


1,910


12 %

Provision for credit losses


1,315


1,010


905


1,236


775


305


30 %


540


70 %

      Net interest income after provision

16,136


16,426


15,543


14,647


14,766


(290)


-2 %


1,370


9 %

      for loan losses



















Non-interest income


4,837


4,647


4,392


4,131


4,245


190


4 %


592


14 %

Non-interest expense


14,538


14,634


13,223


12,964


12,325


(96)


-1 %


2,213


18 %

   Income before income taxes


6,435


6,439


6,712


5,814


6,686


(4)


0 %


(251)


-4 %

Provision for income taxes


1,565


1,145


1,653


1,434


1,655


420


37 %


(90)


-5 %

      Net Income


4,870


5,294


5,059


4,380


5,031


(424)


-8 %


(161)


-3 %

Earnings per share - basic


$             0.96


$             1.05


$             1.01


$             0.88


$             1.01


$            (0.09)


-9 %


$            (0.05)


-5 %

Earnings per share - diluted


$             0.94


$             1.04


$             1.01


$             0.88


$             1.01


$            (0.10)


-10 %


$            (0.07)


-7 %




















OAKWORTH CAPITAL INC.











CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)




(in thousands)


YTD Period Ended





3/31/2026



3/31/2025


Change











Interest income:










   Loans, including fees


$         25,373



$         24,803


$              570


2 %

   Securities available for sale


2,015



1,474


541


37 %

   Short term investments


1,201



1,169


32


3 %

      Total interest income


28,589



27,446


1,143


4 %

Interest expense:










   Deposits


10,375



11,268


(893)


-8 %

   Borrowings


763



637


126


20 %

      Total interest expense


11,138



11,905


(767)


-6 %

      Net interest income


17,451



15,541


1,910


12 %

Provision for credit losses


1,315



775


540


70 %

      Net interest income after provision

16,136



14,766


1,370


9 %

      for loan losses










Non-interest income


4,837



4,245


592


14 %

Non-interest expense


14,538



12,325


2,213


18 %

   Income before income taxes


6,435



6,686


(251)


-4 %

Provision for income taxes


1,565



1,655


(90)


-5 %

      Net Income


4,870



5,031


(161)


-3 %

Earnings per share - basic


$             0.96



$             1.01


$            (0.05)


-5 %

Earnings per share - diluted


$             0.94



$             1.01


$            (0.07)


-7 %

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/oakworth-capital-inc-reports-balanced-top-line-growth-302752013.html

SOURCE Oakworth Capital Inc.


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