JASPER, IN / ACCESS Newswire / February 12, 2026 / SVB&T Corporation (OTCQX:SVBT), parent company of Springs Valley Bank & Trust Company, today announced 2025 fourth quarter unaudited earnings of $2.00 million or $1.82 earnings per share (EPS), a 52.94% increase over the same prior year period earnings on a per share basis. This fourth quarter 2025 performance translates to a return on average assets (ROAA) of 1.24%, compared to the same prior year period ROAA of 0.83%.
SVB&T Corporation also announced that its Board of Directors have declared a quarterly dividend of $0.28 per share of the Corporation's common stock. The quarterly dividend is payable on or about April 15, 2026, to shareholders of record as of the close of business on March 16, 2026. The dividend declared is a 21.74% annualized increase over the total dividend declared for the 2025 fiscal year.
Net interest income before provision expense for the fourth quarter ended December 31, 2025 was $5.66 million compared to $4.49 million for the same period in 2024. Interest income increased $476,000 compared to the prior year fourth quarter, primarily due to increased loan balances and interest rates on loans resulting from some assets repricing higher from the low rates of 2020 loan originations. Interest expense decreased $699,000 compared to the same prior year quarter, due largely to lower rates on deposits resulting from the Federal Reserve's federal funds rate reductions in the latter half of 2024 and 2025. Provision expense increased $299,000 compared to the prior year fourth quarter to cover growth in the loan portfolio in the fourth quarter of 2025 and higher unfunded commitment balances. Additionally, noninterest income decreased approximately $77,000 to $2.54 million from $2.62 million. The slightly lower income can be attributed to reduced earnings, compared to the prior year fourth quarter, from sold mortgages and servicing fees on sold loans due to a mortgage servicing asset fair value adjustment in the fourth quarter of 2025. As has been in the past, noninterest income generation continues to be a strategic focus of SVB&T's by growing the Financial Advisory Group, increasing sold loan income, expanding electronic banking services, and other avenues, to continue to reduce margin dependence. Noninterest expense decreased $401,000 to $5.19 million from $5.59 million, attributable to decreases in general operating expenses, including salaries, bonuses, and health insurance claims expenditures.
Quarter over trailing quarter earnings decreased approximately $594,000 or 22.93%. The earnings decrease was largely driven by decreased servicing fees on sold loans due to the servicing asset fair value adjustment in the fourth quarter and lower sold mortgage income, as well as increased provision expense on both loans and off balance sheet unfunded commitments and other year-end accrual adjustments, including discretionary profit sharing.
SVB&T Corporation book value has increased from $59.14 per share as of December 31, 2024, to $67.08 as of December 31, 2025, a 13.43% increase. SVB&T Corporation stock closed at $59.00 per share on the OTCQX exchange on December 31, 2025. In May of 2025, the Corporation's Board of Directors reauthorized a share repurchase program through June 1, 2027. Under the program, the Corporation is authorized to repurchase, from time to time as the Corporation deems appropriate, shares of SVB&T Corporation's common stock with an aggregate purchase price of up to $1.00 million. As of the end of the fourth quarter of 2025, 2,100 shares have been repurchased under the newly reapproved plan, with an average purchase price of $47.03.
Total assets increased $4.92 million to $642.73 million on December 31, 2025, compared to December 31, 2024 assets of $637.81 million. Total loans before allowance increased $14.29 million to $493.69 million on December 31, 2025, from $479.40 million on December 31, 2024. The increase in loans in 2025 was primarily a result of commercial loan growth in the fourth quarter. Springs Valley experienced relatively healthy loan demand in 2025; however, the Bank is strategically preserving liquidity for high quality credits, as well as managing loan growth to alleviate some of the pressure on the funding side of the balance sheet as cost of funds remain elevated. Allowance as a percent of total loans was 1.44% as of December 31, 2025, compared to 1.41% as of December 31, 2024. Total deposits decreased $846,000 to $562.23 million on December 31, 2025, from $563.08 million on December 31, 2024. Noninterest-bearing deposits increased by approximately $661,000, while interest-bearing deposits decreased by approximately $1.51 million. Core deposit growth continues to be a strategic focus of Springs Valley's as it is a critical component in generating sustainable, long-term profitability for the institution.
Year to date (YTD) unaudited earnings for the twelve months ended December 31, 2025 was $8.82 million or $8.02 EPS, a 43.99% increase over the same prior year period earnings on a per share basis. This YTD performance translates to a ROAA of 1.38%, compared to the same prior year period ROAA of 1.00%.
Net interest income before provision expense for the twelve months ended December 31, 2025 was $20.83 million compared to $16.96 million for the same period in 2024, an increase of $3.87 million. Interest income increased approximately $1.97 million as compared to the same prior year period, largely due to increased interest rates on loans resulting from the rate environment and assets repricing higher. Additionally, interest expense decreased by $1.90 million over the same period, due largely to lower rates on deposits resulting from the Federal Reserve's federal funds rate reductions in the latter half of 2024 and 2025. YTD provision expense increased by $452,000, compared to the same prior year period. Noninterest income decreased $242,000 to $10.14 million YTD December 2025 from $10.38 million for the same period in 2024. The largest contributing factors to the unfavorable variance were decreased servicing income from sold loans due to 2025 fair value adjustments on the Bank's mortgage servicing asset and decreased income from gain on sale of other real estate owned, as a sizeable gain was recognized in the second quarter of 2024. Growing noninterest income to reduce margin dependence continues to be a strategic focus of Springs Valley Bank & Trust. Noninterest expense decreased $340,000 to $19.85 million YTD December 2025 from $20.19 million for the same period in 2024. This expense decrease was largely driven by lower general operating expenses, the largest of which being decreased salary expense due to staffing and significantly lower health insurance claims expenditures.
President and CEO, J. Craig Buse, commented, "2025 was one of the best years in terms of earnings and profitability in the Bank's history. Margin expansion has been a substantive tailwind driving net interest income higher with both yields on assets rising while cost of funds are decreasing due to a combination of the rate environment and the repricing structure of our assets. We have seen net interest margin (NIM) expansion of roughly 70 basis points when comparing the 2025 fourth quarter NIM to the fourth quarter NIM of 2024. The Bank continues to focus on quality in the credit portfolio, bolstering liquidity, and low cost core deposit growth. Overall, our strategic focus has not changed. Springs Valley continues to focus on relationship-oriented community banking to provide year-over-year financial performance for all stakeholders."
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For more information contact: Ryan Heim, Treasurer & CFO, SVB&T Corporation, at 812.634.4889 or [email protected].
SVB&T Corporation is headquartered at 8482 West State Road 56, French Lick, Indiana 47432 with administrative offices at 1500 Main Street, Jasper, Indiana 47546. Its subsidiary, Springs Valley Bank & Trust Company, has locations in Dubois, Daviess, Gibson, and Orange Counties, offering full-service bank and financial services. Springs Valley has products and services for all types of families and businesses, including checking and savings accounts, certificates of deposit, electronic services, online consumer and mortgage applications, and a variety of other loan options. Springs Valley Bank is a member of FDIC and is an Equal Housing Lender.
In addition, the company has a full-service financial advisory group managed by experienced, talented professionals specializing in estate planning, tax planning, and wealth management. Investment services are also offered by a licensed, professional Springs Valley representative. Trust and investment products are not deposits; not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the depository institution; not insured by any Federal Government Agency; and may lose value - subject to investment risks, including possible loss of the principal amount invested.
More information can be found online at www.svbt.bank. The Corporation's stock is traded on the OTCQX trading platform under ticker symbol SVBT (www.otcmarkets.com).
Information conveyed in this press release regarding SVB&T Corporation's and its subsidiaries' anticipated future performance is forward-looking and therefore involves risks and uncertainties that could cause the results or developments to differ significantly from those indicated in these statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in general and local banking, as well as mortgage conditions, competitive factors specific to markets in which the company and its subsidiaries operate, future interest rate levels, changes in local real estate markets, legislative and regulatory decisions, capital market conditions, and/or other factors.
Selected Consolidated Financial Data of SVB&T Corporation
(In Thousands, Except Shares Outstanding and Per Share Data)
Unaudited | Audited | |||||||
31-Dec | 31-Dec | |||||||
2025 | 2024 | |||||||
| Assets | ||||||||
| Cash and due from banks | $ | 16,515 | $ | 18,559 | ||||
| Interest-bearing time deposits | 0 | 0 | ||||||
| Fed funds sold | 33,245 | 45,770 | ||||||
| Available for sale securities | 71,756 | 65,594 | ||||||
| Other investments | 2,517 | 2,517 | ||||||
| Loans held for sale | 875 | 1,222 | ||||||
| Loans net of allowance for credit losses | 486,071 | 471,398 | ||||||
| Premises and equipment | 5,859 | 6,016 | ||||||
| Bank-owned life insurance | 10,753 | 10,549 | ||||||
| Accrued interest receivable | 3,379 | 3,398 | ||||||
| Foreclosed assets held for sale | 37 | 49 | ||||||
| Mortgage servicing rights | 2,329 | 2,489 | ||||||
| Lender risk account (FHLBI) | 1,738 | 1,666 | ||||||
| Other assets | 7,659 | 8,583 | ||||||
| Total assets | $ | 642,733 | $ | 637,810 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Noninterest-bearing deposits | 88,682 | 88,021 | ||||||
| Interest-bearing deposits | 473,550 | 475,057 | ||||||
| Borrowed funds | 0 | 0 | ||||||
| Subordinated debentures | 0 | 0 | ||||||
| Accrued interest payable and other liabilities | 6,751 | 9,918 | ||||||
| Total liabilities | $ | 568,983 | $ | 572,996 | ||||
| Stockholders' equity | 73,750 | 64,814 | ||||||
| Total liabilities and stockholders' equity | $ | 642,733 | $ | 637,810 | ||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
31-Dec | 31-Dec | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating Data: | ||||||||||||||||
| Interest and dividend income | $ | 9,109 | $ | 8,633 | $ | 35,625 | $ | 33,652 | ||||||||
| Interest expense | 3,446 | 4,145 | 14,791 | 16,693 | ||||||||||||
| Net interest income | $ | 5,663 | $ | 4,488 | $ | 20,834 | $ | 16,959 | ||||||||
| Provision for credit losses | 311 | 12 | 570 | 118 | ||||||||||||
| Net interest income after provision for credit losses | $ | 5,352 | $ | 4,476 | $ | 20,264 | $ | 16,841 | ||||||||
| Fiduciary activities | 1,582 | 1,361 | 5,749 | 5,104 | ||||||||||||
| Customer service fees | 245 | 243 | 982 | 980 | ||||||||||||
| Increase in cash surrender value of life insurance | 51 | 54 | 204 | 209 | ||||||||||||
| Net gain/(loss) on loan sales | 250 | 450 | 1,171 | 1,257 | ||||||||||||
| Realized gain/(loss) on securities | 0 | (7 | ) | 0 | (7 | ) | ||||||||||
| Other income | 417 | 521 | 2,029 | 2,834 | ||||||||||||
| Total noninterest income | $ | 2,545 | $ | 2,622 | $ | 10,135 | $ | 10,377 | ||||||||
| Salary and employee benefits | 2,942 | 3,349 | 11,509 | 12,318 | ||||||||||||
| Premises and equipment | 599 | 568 | 2,326 | 2,199 | ||||||||||||
| Data processing | 619 | 499 | 2,228 | 1,983 | ||||||||||||
| Deposit insurance premium | 77 | 74 | 290 | 277 | ||||||||||||
| Professional fees | 232 | 286 | 793 | 812 | ||||||||||||
| Other expenses | 719 | 813 | 2,704 | 2,601 | ||||||||||||
| Total noninterest expense | $ | 5,188 | $ | 5,589 | $ | 19,850 | $ | 20,190 | ||||||||
| Income before taxes | 2,709 | 1,509 | 10,549 | 7,028 | ||||||||||||
| Income tax expense | 711 | 210 | 1,725 | 921 | ||||||||||||
| Net income | $ | 1,998 | $ | 1,299 | $ | 8,824 | $ | 6,107 | ||||||||
| Shares outstanding | 1,099,358 | 1,095,956 | 1,099,358 | 1,095,956 | ||||||||||||
| Average shares - basic | 1,099,358 | 1,095,956 | 1,099,854 | 1,096,572 | ||||||||||||
| Average shares - diluted | 1,099,358 | 1,095,956 | 1,099,854 | 1,096,572 | ||||||||||||
| Basic earnings per share | $ | 1.82 | $ | 1.19 | $ | 8.02 | $ | 5.57 | ||||||||
| Diluted earnings per share | $ | 1.82 | $ | 1.19 | $ | 8.02 | $ | 5.57 | ||||||||
| Other Data: | ||||||||||||||||
| Yield on average assets | 5.68 | % | 5.50 | % | 5.59 | % | 5.49 | % | ||||||||
| Cost on average assets | 2.15 | % | 2.64 | % | 2.32 | % | 2.72 | % | ||||||||
| Interest rate spread | 3.53 | % | 2.86 | % | 3.27 | % | 2.77 | % | ||||||||
| Net interest margin | 3.65 | % | 2.95 | % | 3.39 | % | 2.85 | % | ||||||||
| Number of full service banking centers | 6 | 6 | 6 | 6 | ||||||||||||
| Return on average assets | 1.24 | % | 0.83 | % | 1.38 | % | 1.00 | % | ||||||||
| Average assets | $ | 642,040 | $ | 628,202 | $ | 637,863 | $ | 613,443 | ||||||||
| Return on average equity | 11.11 | % | 8.08 | % | 13.04 | % | 9.84 | % | ||||||||
| Average equity | $ | 71,936 | $ | 64,305 | $ | 67,653 | $ | 62,063 | ||||||||
| Equity to assets ratio (EOP) | 11.47 | % | 10.17 | % | 11.47 | % | 10.17 | % | ||||||||
| Average total deposits | $ | 562,667 | $ | 554,785 | $ | 562,270 | $ | 536,646 | ||||||||
| Loans past due 30 to 89 days (still accruing) | $ | 931 | $ | 1,601 | $ | 931 | $ | 1,601 | ||||||||
| Loans past due 90 days or more (still accruing) | $ | 63 | $ | 0 | $ | 63 | $ | 0 | ||||||||
| Nonaccrual loans | $ | 599 | $ | 1,279 | $ | 599 | $ | 1,279 | ||||||||
| Book value per share | $ | 67.08 | $ | 59.14 | $ | 67.08 | $ | 59.14 | ||||||||
| Market value per share - end of period close | $ | 59.00 | $ | 42.25 | $ | 59.00 | $ | 42.25 | ||||||||
SOURCE: SVB&T Corp.
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