Oakworth Capital Inc. Reports 24% Increase in Diluted EPS
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 % | |||||
For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: [email protected]
SOURCE Oakworth Capital Inc.
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