Oakworth Capital Inc. Reports Balanced Top Line Growth

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Apr 23, 2026, 12:01 ET

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 %