Exchange Bank (EXSR) Q2 2025 earnings summary

Executive summary

• Net income after taxes for Q2 2025 was $7.0 million, up from $5.2 million in Q2 2024, a 34% increase.

• Year-to-date net income through June 2025 reached $12.7 million, compared to $10.1 million for the same period in 2024.

• Total assets as of June 30, 2025, were $3.27 billion, slightly down from $3.31 billion a year earlier.

Financial highlights

• Net interest income for Q2 2025 rose by $2.2 million (11%) to $22.5 million year-over-year, driven by higher loan volumes and lower borrowing costs.

• Non-interest income increased by $876 thousand (15%) to $6.6 million, mainly due to a $700 thousand life insurance benefit.

• Non-interest expenses for the first half of 2025 were $39.4 million, up less than 3% from the prior year.

• Basic earnings per share for Q2 2025 was $4.11, up from $3.05 in Q2 2024.

Outlook and guidance

• Management expects investment portfolio paydowns of approximately $100 million through the rest of 2025, based on current rate conditions.

• Forward-looking statements caution that actual results may differ due to various risks and uncertainties.