#United States #Financial Growth #Bakersfield #Earnings #Mission Bancorp

Mission Bancorp Reports Impressive Q3 Earnings

In a statement that underscores their financial strength, Mission Bancorp has announced a record net income of $8.6 million for the third quarter of 2025. This figure represents a 10% increase from the $7.8 million reported in the previous year. It equates to earnings of $3.05 per diluted share, which showcases a remarkable growth trajectory for the bank holding company, especially at a time when other entities are grappling with economic challenges.

Key Financial Highlights

During this quarter, Mission Bancorp experienced significant growth across various financial metrics:

• - Gross loans increased by $171.8 million, showing a 13.8% year-over-year growth, now totaling $1.42 billion.
• - Total deposits rose by $121.3 million, reaching $1.73 billion, which marks an increase of 7.5% compared to the same period last year.
• - Notably, noninterest-bearing deposits accounted for 38.8% of total deposits, amounting to $671.3 million.

A.J. Antongiovanni, President and CEO of Mission Bancorp, commented, “We are proud to report a record quarter during a time when the financial sector is facing various headwinds. Our commitment to relationship-driven banking continues to yield positive results, as evidenced by loan growth of 18% on an annualized basis.”

Changes in Credit and Deposits

Antongiovanni also indicated that deposit costs have decreased, allowing the bank to transfer cash into loans, which has further optimized their net interest margin. The bank’s credit quality remains stable, despite the increase in unemployment and inflation. Nonaccrual loans accounted for just 0.05% of total gross loans, up from 0.03% last year, highlighting the bank's strong asset quality.

The borrowings have followed a decreasing trend, alongside recent advancements in growth, proving the bank's sound management of its resources.

Future Prospects

With a Community Bank Leverage Ratio of 11.29% as of September 30, the bank continues to exceed the expected benchmarks for a 'well capitalized' institution. As the economic landscape shifts, the performance of Mission Bancorp positions itself well for sustainable growth and continued profitability.

Antongiovanni concluded, “Our ongoing investments in customer relationships and prudent financial practices are driving solid outcomes. We remain cautiously optimistic about future growth as we navigate the evolving economic conditions.”

In addition to this positive performance, Mission Bancorp has also extended its stock repurchase program, allowing for continued investor engagement and confidence in the company.

With these results, Mission Bancorp demonstrates its adaptability and resilience in a challenging market atmosphere, ensuring its stakeholders of sustained growth and development in the coming quarters. Interested parties can explore more about Mission Bancorp and its services through their website at www.missionbank.bank.