Oakworth Capital Inc. Reports 24% Increase in Diluted EPS

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Jul 24, 2025, 09:01 ET

BIRMINGHAM, Ala., July 24, 2025 /PRNewswire/ -- Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported 24% higher diluted earnings per share in the first half of 2025 compared to the first half of 2024. Year-to-date and as of June 30, 2025, highlights include:

Income/Profitability:

Net income of $9.4 million: 25% higher than $7.5 million year-over-year
Diluted earnings per share of $1.89: 24% higher than $1.53 in the same period of 2024
Pre-tax pre-provision income of $14.5 million: 31% higher than $11.1 million in the first half of 2024
Revenue of $39.8 million: 18% higher than $33.9 million in the same period of 2024
- 2% linked-quarter growth and 23% year-over-year growth in net interest income
- 4% linked-quarter decline and 10% year-over-year growth in trust and wealth fees
Non-interest expenses of $25.3 million: 11% higher year-over-year
ROAE of 14.5%
ROAA of 1.0%

Wealth Assets/Balance Sheet:

Wealth assets of $2.4 billion, 10% higher than $2.2 billion one year prior
Year-over-year loan growth of 15% on average basis and 10% on period end basis to $1.5 billion
Year-over-year deposit growth of 16% on average basis and 12% on period end basis to $1.6 billion

Safety and Soundness:

Credit quality metrics:
- $0.5 million non-performing loans
- $0 past due +90 loans
- $5.4 million ORE
- 1.2% allowance for credit losses as percentage of loans, net
Capital ratios
- Total risk-based capital: 12.1%
- CET1: 10.9%
- Tier 1 leverage: 9.7%

Oakworth's Chairman and CEO Scott Reed stated, "We continue to see positive momentum from our investments in people, processes and technology in new and existing markets. We look forward to serving our clients and accelerating revenue in the back half of the year."

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 eight years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth's 2024 average Net Promoter Score (NPS) was 94 with a commensurate client retention rate of 95%. As of June 30, 2025, Oakworth had $1.8 billion in total assets, $1.5 billion in gross loans, $1.6 billion in deposits and $2.4 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.

OAKWORTH CAPITAL INC.

WEALTH AND TRUST (Unaudited)
(In millions)	As of					Change		Change
	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	6/30/2025 vs. 03/31/2025		06/30/2025 vs. 06/30/2024

Wealth assets (non-balance sheet)	$ 2,415	$ 2,285	$ 2,297	$ 2,308	$ 2,200	$ 130	6 %	$ 215	10 %

CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited)
(in thousands)	As of					Change		Change
	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	6/30/2025 vs. 03/31/2025		06/30/2025 vs. 06/30/2024
Assets
Cash and due from banks	$ 124,351	$ 100,968	$ 125,016	$ 117,265	$ 71,623	$ 23,383	23 %	$ 52,728	74 %
Federal funds sold	1,900	525	950	1,950	75	1,375	262 %	1,825	2433 %
Securities available for sale	175,535	175,599	158,885	156,926	151,379	(64)	0 %	24,156	16 %
Loans, net of unearned income	1,496,222	1,492,413	1,455,238	1,411,569	1,357,150	3,809	0 %	139,072	10 %
Allowance for credit losses	(17,944)	(17,015)	(16,330)	(16,494)	(15,895)	(929)	5 %	(2,049)	13 %
Loans, net	1,478,278	1,475,398	1,438,908	1,395,075	1,341,255	2,880	0 %	137,023	10 %
Fixed assets	3,980	4,221	4,420	4,647	4,820	(241)	-6 %	(840)	-17 %
Interest receivable	6,611	6,909	6,678	6,478	6,903	(298)	-4 %	(292)	-4 %
Other assets	58,967	53,866	54,084	54,396	56,200	5,101	9 %	2,767	5 %
Total assets	$ 1,849,622	$ 1,817,486	$ 1,788,941	$ 1,736,737	$ 1,632,255	$ 32,136	2 %	$ 217,367	13 %

Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing deposits	$ 273,119	$ 270,536	$ 274,872	$ 255,008	$ 274,968	$ 2,583	1 %	$ (1,849)	-1 %
Interest-bearing deposits	1,299,175	1,356,172	1,321,864	1,268,998	1,124,013	(56,997)	-4 %	175,162	16 %
Total deposits	1,572,294	1,626,708	1,596,736	1,524,006	1,398,981	(54,414)	-3 %	173,313	12 %
Total Borrowings	118,786	38,763	39,296	64,273	94,250	80,023	206 %	24,536	26 %
Accrued interest payable	1,452	559	1,149	643	1,517	893	160 %	(65)	-4 %
Other liabilities	21,333	20,382	26,964	22,018	19,474	951	5 %	1,859	10 %
Total liabilities	1,713,865	1,686,412	1,664,145	1,610,940	1,514,222	27,453	2 %	199,643	13 %
Total stockholders' equity	135,757	131,074	124,796	125,797	118,033	4,683	4 %	17,724	15 %
Total liabilities and stockholders' equity	$ 1,849,622	$ 1,817,486	$ 1,788,941	$ 1,736,737	$ 1,632,255	$ 32,136	2 %	$ 217,367	13 %

OAKWORTH CAPITAL INC.

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(in thousands)	Quarter Ended					Change		Change
	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	2Q25 vs. 1Q25		2Q25 vs. 2Q24

Interest income:
Loans, including fees	$ 25,306	$ 24,803	$ 25,141	$ 25,423	$ 23,505	$ 503	2 %	$ 1,801	8 %
Securities available for sale	1,605	1,474	1,257	1,187	1,101	131	9 %	504	46 %
Short term investments	1,043	1,169	1,222	837	982	(126)	-11 %	61	6 %
Total interest income	27,954	27,446	27,620	27,447	25,588	508	2 %	2,366	9 %
Interest expense:
Deposits	11,049	11,268	11,807	12,296	11,429	(219)	-2 %	(380)	-3 %
Borrowings	1,022	637	804	1,253	1,044	385	60 %	(22)	-2 %
Total interest expense	12,071	11,905	12,611	13,549	12,473	166	1 %	(402)	-3 %
Net interest income	15,883	15,541	15,009	13,898	13,115	342	2 %	2,768	21 %
Provision for credit losses	1,236	775	1,080	599	847	461	59 %	389	46 %
Net interest income after provision	14,647	14,766	13,929	13,299	12,268	(119)	-1 %	2,379	19 %
for loan losses
Non-interest income	4,131	4,245	4,108	3,943	4,051	(114)	-3 %	80	2 %
Non-interest expense	12,964	12,325	12,721	11,638	11,497	639	5 %	1,467	13 %
Income before income taxes	5,814	6,686	5,316	5,604	4,822	(872)	-13 %	992	21 %
Provision for income taxes	1,434	1,655	1,236	1,458	1,204	(221)	-13 %	230	19 %
Net Income	4,380	5,031	4,080	4,146	3,618	(651)	-13 %	762	21 %
Earnings per share - basic	$ 0.88	$ 1.01	$ 0.82	$ 0.84	$ 0.73	$ (0.13)	-13 %	$ 0.15	21 %
Earnings per share - diluted	$ 0.88	$ 1.01	$ 0.82	$ 0.84	$ 0.73	$ (0.13)	-13 %	$ 0.15	21 %

OAKWORTH CAPITAL INC.

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(in thousands)	YTD Period Ended
	6/30/2025	6/30/2024	Change

Interest income:
Loans, including fees	$ 50,108	$ 45,560	$ 4,548	10 %
Securities available for sale	3,080	2,132	948	44 %
Short term investments	2,212	2,116	96	5 %
Total interest income	55,400	49,808	5,592	11 %
Interest expense:
Deposits	22,317	22,618	(301)	-1 %
Borrowings	1,659	1,592	67	4 %
Total interest expense	23,976	24,210	(234)	-1 %
Net interest income	31,424	25,598	5,826	23 %
Provision for credit losses	2,011	1,243	768	62 %
Net interest income after provision	29,413	24,355	5,058	21 %
for loan losses
Non-interest income	8,376	8,271	105	1 %
Non-interest expense	25,289	22,817	2,472	11 %
Income before income taxes	12,500	9,809	2,691	27 %
Provision for income taxes	3,089	2,261	828	37 %
Net Income	9,411	7,548	1,863	25 %
Earnings per share - basic	$ 1.89	$ 1.53	$ 0.36	24 %
Earnings per share - diluted	$ 1.89	$ 1.53	$ 0.36	24 %