Oakworth Capital Inc. Reports 19% Growth in Net Income
PR Newswire
BIRMINGHAM, Ala., Oct. 22, 2026
BIRMINGHAM, Ala., Oct. 22, 2026 /PRNewswire/ -- Oakworth Capital Inc. (OTCQX: OAKC) reported 19% net income growth and 13% diluted EPS growth in the year-to-date period ended September 30, 2026 compared to the same period in 2025. Realization of returns on past investments has been a focus that is evident in a 57% third quarter efficiency ratio and 1.2% third quarter return on assets. Strong balance sheet and wealth asset growth was also evident in the quarter and year-to-date periods with wealth assets growing 17% year-over-year, loans growing 16% compared to 2025 and deposits up 17% over 2025. Linked quarter deposit growth was particularly strong at 13% (52% annualized). Oakworth's Chairman and CEO Scott Reed stated, "We are pleased with the profitable, balanced growth we experienced in third quarter. We appreciate the support for our story that was evidenced by the completion of a $15.4 million common equity capital raise in the quarter, and we look forward to working hard to deliver value for our new and existing shareholders."
As of and year-to-date September 30, 2026 highlights include:
Income/Profitability:
- Net income of $17.2 million compared to $14.5 million year-to-date 2025
- Diluted earnings per share of $3.27 compared to $2.90 year-to-date 2025
- Pre-tax pre-provision income of $28.3 million compared to $22.1 million in same period of 2025 (+28%)
- Revenue of $70.7 million: 17% higher than $60.6 million year-to-date 2025
- 16% year-over-year growth in net interest income
- 22% year-over-year growth in trust and wealth fees
- Non-interest expenses of $42.5 million compared to $38.5 million year-to-date 2025
- 10% higher year-over-year
- ROAE of 14.4%
- ROAA of 1.1%
Wealth Assets/Balance Sheet:
- Wealth assets of $3.00 billion, 17% higher than $2.57 billion one year prior
- Year-over-year loan growth of 14% on average basis and 16% on period end basis to $1.8 billion
- Year-over-year deposit growth of 12% on average basis and 17% on period end basis to $2.0 billion
- Tangible book value per share: $32.34
- Includes $15.8 million or $2.96 per share AOCI mark-to-market adjustment attributable solely to interest rate movements
Safety and Soundness:
- Credit quality metrics:
- $9.7 million non-performing loans
- $3.4 million ORE
- 0.73% NPA ratio
- $3.1 million net charge-offs, including $1.3 million in 3Q26
- 1.2% allowance for credit losses as percentage of loans, net
- Capital
- The Company sold a total of $15.4 million in common equity, or 367,330 shares of Oakworth common stock at $42.00 per share in a private placement offering that closed on September 25, 2026
- Total risk-based capital: 12.3%
- CET1: 11.1%
- Tier 1 leverage: 9.8%
About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (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 in the U.S." for the past nine years, holding the top spot for six of those years and ranking No. 2 most recently. Additionally, Oakworth's 2025 average Net Promoter Score (NPS) was 95 with a commensurate client retention rate of 95%. As of September 30, 2026, Oakworth had $2.2 billion in total assets, $1.8 billion in gross loans, $2.0 billion in deposits and $3.0 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, Equal Housing Lender. 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.
OAKWORTH CAPITAL INC. | ||||||||||||||||||
WEALTH AND TRUST (Unaudited) | ||||||||||||||||||
(In millions) | As of | Change | Change | |||||||||||||||
9/30/2026 | 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | 9/30/2026 vs. 6/30/2026 | 9/30/2026 vs. 9/30/2025 | ||||||||||||
Wealth assets (non-balance sheet) | $ 3,000 | $ 2,957 | $ 2,705 | $ 2,685 | $ 2,566 | $ 43 | 1 % | $ 434 | 17 % | |||||||||
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited) | ||||||||||||||||||
(in thousands) | As of | Change | Change | |||||||||||||||
9/30/2026 | 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | 9/30/2026 vs. 6/30/2026 | 9/30/2026 vs. 9/30/2025 | ||||||||||||
Assets | ||||||||||||||||||
Cash and due from banks | $ 154,630 | $ 128,029 | $ 113,891 | $ 194,946 | $ 153,084 | $ 26,601 | 21 % | $ 1,546 | 1 % | |||||||||
Federal funds sold | 1,025 | 1,050 | 1,951 | 1,325 | 950 | (25) | -2 % | 75 | 8 % | |||||||||
Securities available for sale | 234,034 | 226,098 | 213,286 | 201,684 | 189,673 | 7,936 | 4 % | 44,361 | 23 % | |||||||||
Loans, net of unearned income | 1,780,861 | 1,725,998 | 1,665,422 | 1,604,023 | 1,533,734 | 54,863 | 3 % | 247,127 | 16 % | |||||||||
Allowance for credit losses | (21,577) | (20,754) | (19,871) | (19,348) | (18,734) | (823) | 4 % | (2,843) | 15 % | |||||||||
Loans, net | 1,759,284 | 1,705,244 | 1,645,551 | 1,584,675 | 1,515,000 | 54,040 | 3 % | 244,284 | 16 % | |||||||||
Fixed assets | 3,333 | 3,326 | 3,447 | 3,625 | 3,821 | 7 | 0 % | (488) | -13 % | |||||||||
Interest receivable | 7,698 | 7,516 | 7,560 | 7,246 | 6,845 | 182 | 2 % | 853 | 12 % | |||||||||
Other assets | 57,572 | 59,859 | 54,169 | 52,723 | 52,825 | (2,287) | -4 % | 4,747 | 9 % | |||||||||
Total assets | $ 2,217,576 | $ 2,131,122 | $ 2,039,855 | $ 2,046,224 | $ 1,922,198 | $ 86,454 | 4 % | $ 295,378 | 15 % | |||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||||
Liabilities: | ||||||||||||||||||
Deposits: | ||||||||||||||||||
Non-interest bearing deposits | $ 373,868 | $ 319,544 | $ 320,493 | $ 304,683 | $ 300,340 | $ 54,324 | 17 % | $ 73,528 | 24 % | |||||||||
Interest-bearing deposits | 1,611,617 | 1,438,204 | 1,467,134 | 1,526,302 | 1,397,942 | 173,413 | 12 % | 213,675 | 15 % | |||||||||
Total deposits | 1,985,485 | 1,757,748 | 1,787,627 | 1,830,985 | 1,698,282 | 227,737 | 13 % | 287,203 | 17 % | |||||||||
Total Borrowings | 38,345 | 188,322 | 78,299 | 38,831 | 58,809 | (149,977) | -80 % | (20,464) | -35 % | |||||||||
Accrued interest payable | 537 | 1,299 | 598 | 1,223 | 710 | (762) | -59 % | (173) | -24 % | |||||||||
Other liabilities | 20,622 | 20,464 | 20,950 | 26,521 | 20,657 | 158 | 1 % | (35) | 0 % | |||||||||
Total liabilities | 2,044,989 | 1,967,833 | 1,887,474 | 1,897,560 | 1,778,458 | 77,156 | 4 % | 266,531 | 15 % | |||||||||
Total stockholders' equity | 172,587 | 163,289 | 152,381 | 148,664 | 143,740 | 9,298 | 6 % | 28,847 | 20 % | |||||||||
Total liabilities and stockholders' equity | $ 2,217,576 | $ 2,131,122 | $ 2,039,855 | $ 2,046,224 | $ 1,922,198 | $ 86,454 | 4 % | $ 295,378 | 15 % | |||||||||
OAKWORTH CAPITAL INC. | ||||||||||||||||||
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) | ||||||||||||||||||
(in thousands) | Quarter Ended | Change | Change | |||||||||||||||
9/30/2026 | 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | 3Q26 vs. 2Q26 | 3Q26 vs. 3Q25 | ||||||||||||
Interest income: | ||||||||||||||||||
Loans, including fees | $ 28,439 | $ 26,711 | $ 25,373 | $ 25,817 | $ 26,194 | $ 1,728 | 6 % | $ 2,245 | 9 % | |||||||||
Securities available for sale | 2,370 | 2,219 | 2,015 | 1,814 | 1,667 | 151 | 7 % | 703 | 42 % | |||||||||
Short term investments | 1,128 | 1,049 | 1,201 | 1,772 | 1,058 | 79 | 8 % | 70 | 7 % | |||||||||
Total interest income | 31,937 | 29,979 | 28,589 | 29,403 | 28,919 | 1,958 | 7 % | 3,018 | 10 % | |||||||||
Interest expense: | ||||||||||||||||||
Deposits | 10,662 | 9,931 | 10,375 | 11,289 | 11,357 | 731 | 7 % | (695) | -6 % | |||||||||
Borrowings | 1,652 | 1,605 | 763 | 678 | 1,114 | 47 | 3 % | 538 | 48 % | |||||||||
Total interest expense | 12,314 | 11,536 | 11,138 | 11,967 | 12,471 | 778 | 7 % | (157) | -1 % | |||||||||
Net interest income | 19,623 | 18,443 | 17,451 | 17,436 | 16,448 | 1,180 | 6 % | 3,175 | 19 % | |||||||||
Provision for credit losses | 2,161 | 2,007 | 1,315 | 1,010 | 905 | 154 | 8 % | 1,256 | 139 % | |||||||||
Net interest income after provision | 17,462 | 16,436 | 16,136 | 16,426 | 15,543 | 1,026 | 6 % | 1,919 | 12 % | |||||||||
for loan losses | ||||||||||||||||||
Non-interest income | 5,375 | 4,994 | 4,837 | 4,647 | 4,392 | 381 | 8 % | 983 | 22 % | |||||||||
Non-interest expense | 14,269 | 13,664 | 14,538 | 14,634 | 13,223 | 605 | 4 % | 1,046 | 8 % | |||||||||
Income before income taxes | 8,568 | 7,766 | 6,435 | 6,439 | 6,712 | 802 | 10 % | 1,856 | 28 % | |||||||||
Provision for income taxes | 2,092 | 1,901 | 1,565 | 1,145 | 1,653 | 191 | 10 % | 439 | 27 % | |||||||||
Net Income | 6,476 | 5,865 | 4,870 | 5,294 | 5,059 | 611 | 10 % | 1,417 | 28 % | |||||||||
Earnings per share - basic | $ 1.23 | $ 1.15 | $ 0.96 | $ 1.05 | $ 1.01 | $ 0.08 | 7 % | $ 0.22 | 22 % | |||||||||
Earnings per share - diluted | $ 1.19 | $ 1.13 | $ 0.94 | $ 1.04 | $ 1.01 | $ 0.06 | 5 % | $ 0.18 | 18 % | |||||||||
OAKWORTH CAPITAL INC. | |||||||||
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) | |||||||||
(in thousands) | YTD Period Ended | ||||||||
9/30/2026 | 9/30/2025 | Change | |||||||
Interest income: | |||||||||
Loans, including fees | $ 80,523 | $ 76,302 | $ 4,221 | 6 % | |||||
Securities available for sale | 6,604 | 4,745 | 1,859 | 39 % | |||||
Short term investments | 3,378 | 3,270 | 108 | 3 % | |||||
Total interest income | 90,505 | 84,317 | 6,188 | 7 % | |||||
Interest expense: | |||||||||
Deposits | 30,968 | 33,673 | (2,705) | -8 % | |||||
Borrowings | 4,021 | 2,773 | 1,248 | 45 % | |||||
Total interest expense | 34,989 | 36,446 | (1,457) | -4 % | |||||
Net interest income | 55,516 | 47,871 | 7,645 | 16 % | |||||
Provision for credit losses | 5,482 | 2,915 | 2,567 | 88 % | |||||
Net interest income after provision | 50,034 | 44,956 | 5,078 | 11 % | |||||
for loan losses | |||||||||
Non-interest income | 15,207 | 12,768 | 2,439 | 19 % | |||||
Non-interest expense | 42,472 | 38,511 | 3,961 | 10 % | |||||
Income before income taxes | 22,769 | 19,213 | 3,556 | 19 % | |||||
Provision for income taxes | 5,558 | 4,742 | 816 | 17 % | |||||
Net Income | 17,211 | 14,471 | 2,740 | 19 % | |||||
Earnings per share - basic | $ 3.34 | $ 2.90 | $ 0.44 | 15 % | |||||
Earnings per share - diluted | $ 3.27 | $ 2.90 | $ 0.37 | 13 % | |||||
For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: jenifer.kimbrough@oakworth.com
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SOURCE Oakworth Capital Inc.
