Commercial Bancgroup (CBK) investor relations material

Executive summary

• Net income for Q1 2026 was $9.5 million ($0.70 per share), up 9.7% year-over-year, with core net income at $10.0 million ($0.73 per share), driven by higher net interest income and loan growth, partially offset by a loss on debt retirement.

• Total assets reached $2.3 billion, increasing 1.6% from year-end 2025, with net loans up 1.0% sequentially and deposits up 4.2%.

• Total operating revenue rose to $23.1 million from $21.8 million year-over-year.

• Book value per share increased to $21.43 and tangible book value per share to $20.60 at March 31, 2026.

Financial highlights

• Net interest income rose 5.9% to $20.5 million, reflecting increased loan volume and lower long-term debt interest expense.

• Noninterest income increased 6.1% to $2.6 million, mainly from higher customer service and ATM/debit card fees.

• Noninterest expense grew 4.8% to $11.1 million, primarily due to a $0.6 million loss on early debt extinguishment.

• Core efficiency ratio improved to 45.45% from 48.6% year-over-year.

• Net interest margin was 3.88%, down 13 basis points sequentially.

Outlook and guidance

• Management expects continued focus on organic loan and deposit growth, with risk management practices in place for credit concentrations.

• Management highlights continued strong loan growth and improved efficiency, with a focus on maintaining asset quality and capital strength.

• No material changes to risk factors or forward-looking statements since the last annual report.