Exchange Bank (EXSR) Q3 2025 earnings summary

Executive summary

• Net income after taxes for Q3 2025 was $8.6 million, up from $4.9 million in Q3 2024, a 75% increase.

• Year-to-date net income through September 2025 reached $21.2 million, compared to $15.0 million for the same period in 2024.

Financial highlights

• Net interest income for Q3 2025 rose by $3.3 million (17%) to $23.3 million year-over-year, driven by higher loan interest and lower borrowing costs.

• Non-interest income increased by $1.5 million (25%) to $7.4 million, mainly due to a $1.4 million gain on sale of bank premises.

• Total assets as of September 30, 2025, were $3.31 billion, down 3% from $3.41 billion a year earlier.

• Gross loans grew by $103.9 million (6%) year-over-year to $1.71 billion.

• Deposits increased by $69.7 million (2.5%) to $2.89 billion year-over-year.

• Borrowings decreased significantly to $40 million from $245 million a year ago.

• Book equity rose by $38.8 million (13%) to $332.7 million.

• Basic earnings per share for Q3 2025 was $4.99, up from $2.88 in Q3 2024.

Outlook and guidance

• Management expects investment portfolio paydowns of approximately $45 million through the rest of 2025.

• Forward-looking statements note risks from economic, legislative, and regulatory changes.