earnings
confidence high
sentiment positive
materiality 0.85
Steele Bancorp Q3 net income $13.7M ($4.77 EPS); merger with Northumberland yields $17.8M bargain gain
STEELE BANCORP INC
2025-Q3 EPS reported
$7.87
- Net income $13.7M vs $1.4M YoY; diluted EPS $4.77; net interest income $9.9M (+129% vs prior year).
- Merger with Northumberland closed Aug 1; total consideration ~$40.5M; bargain purchase gain $17.8M.
- Core deposit intangible $14.2M; merger expenses $3.9M in Q3; one-time provision for credit losses $4.0M.
- Total assets $1.3B (+110% from Dec 2024); net loans +$459M; deposits +$616M, mostly from acquisition.
- Equity-to-assets 9.2%; effective tax rate 5.11% due to non-taxable bargain gain.