PB Bankshares, Inc. (NASDAQ: PBBK), the holding company for Presence Bank, reported unaudited net income of $640,000 for the second quarter of 2025, marking a significant increase from $370,000 for the same period in 2024. For the six months ended June 30, 2025, net income rose to $1.1 million, up from $687,000 for the same period in the previous year, representing a 62.0% increase. The company's diluted earnings per share $(EPS)$ also saw an improvement, reaching $0.27 for the second quarter of 2025 and $0.48 for the first half of 2025, compared to $0.16 and $0.29 for the respective periods in 2024. Net interest income grew by 17.1% to $6.3 million for the first half of 2025, compared to $5.4 million for the same period in 2024. Additionally, the net interest margin improved by 34 basis points to 2.88% for the second quarter of 2025, up from 2.54% in the corresponding period of 2024. On the balance sheet, the bank reported a decrease in accumulated other comprehensive loss, which fell by 98.9% to $12,000 as of June 30, 2025, compared to $1.1 million a year earlier. Noninterest expense increased by 7.6% to $5.4 million for the first half of 2025 from $5.0 million for the same period in 2024. The bank's stand-alone stockholders' equity rose by $1.7 million to $43.9 million as of June 30, 2025, driven primarily by net income for the year to date. Cash and cash equivalents increased substantially by 48.0% to $55.9 million, attributed to maturities of securities and deposit growth. Gross loans also saw an increase, rising by $8.7 million or 2.5% to $358.4 million, primarily due to growth in the commercial real estate portfolio. The bank continues to focus on commercial real estate lending while monitoring associated risks.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.