Oakworth Capital Inc. Reports 19% Growth in Net Income

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Oct 22, 2026, 16:30 ET

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 %