#United States #earnings report #Financial Growth #Mooresville #blueharbor bank

blueharbor Bank Reports Strong Q3 Earnings for 2025

On October 17, 2025, blueharbor bank, based in Mooresville, North Carolina, released its financial results for the third quarter of 2025, highlighting a remarkable performance. The bank reported a net income of $2,852,118, translating to a diluted earnings per share of $0.95. This marks a substantial increase of 51% compared to the prior quarter, where the diluted earnings stood at $0.63. The extraordinary growth reflects the bank's commitment to maintaining a balanced strategy between asset quality, growth, and profitability.

Key Financial Highlights

The highlights of the bank's performance in Q3 2025 are as follows:

• - Return on Average Assets (ROA): The ROA was recorded at 2.08%, an encouraging figure indicating effective asset management.
• - Return on Average Equity (ROE): The ROE reached 18.54%, demonstrating strong returns for shareholders.
• - Net Interest Margin: There was a notable expansion of the net interest margin to 4.46%, up from the previous quarter by 18 basis points.
• - Loan Growth: The bank experienced an impressive loan growth of $63.2 million, representing a significant annualized growth rate of 20% in the first nine months of 2025.
• - Deposit Growth: Deposits also grew robustly by $57.0 million, equivalent to a 17% annualized growth rate in the same period.
• - Book Value: There was a substantial increase in the book value, which now stands at $21.14, reflecting a 16% rise from Q3 2024.

With total assets reported at $571.8 million, the bank indicates a solid growth trajectory compared to $506.8 million at the end of 2024, marking a 13% increase. Moreover, the assets have expanded by 18% compared to the same quarter last year. This upward trend is further complemented by an increase in gross loans, which climbed to $496.0 million from $432.8 million at the end of 2024, a growth of 23% on a year-over-year basis.

Strong Asset Quality and Capital Levels

Despite the impressive growth in loans and deposits, blueharbor bank maintained a robust asset quality throughout Q3 2025, with zero non-performing assets reported. Furthermore, the capital levels remain strong, with total risk-based capital standing at 13.9%. The common equity tier 1 and tier 1 capital ratios both sit at a solid 12.9%, while the tier 1 leverage ratio is at 12.0%. This financial stability positions blueharbor bank favorably for future growth opportunities.

Operational Efficiency

blueharbor bank reported an efficiency ratio of 37.76%, a marked improvement compared to 51.40% from the same quarter last year. This indicates that the bank is managing its expenses effectively while enhancing its operational efficiencies. Additionally, net interest income surged to $5,824,939, up by 26% from Q3 2024, attributed primarily to loan growth throughout the period.

However, the bank did record a provision for credit losses amounting to $303,935, a significant increase from $92,488 in the same quarter prior year. This increase aligns with the aggressive loan growth strategy the bank has adopted.

CEO's Statement

Jim Marshall, the President and CEO of blueharbor bank, expressed gratitude toward the bank's team for their unwavering dedication and commitment. He acknowledged the loyalty of their customers and reiterated the bank's pursuit of a balanced strategy between growth and asset quality. Marshall emphasized that this approach continues to yield positive results, fostering high levels of profitability and sustainable growth.

Headquartered in Mooresville, North Carolina, blueharbor bank operates branches in Statesville and Mount Airy, with loan production offices in Belmont and Hickory. The bank's stock is traded on the OTCQX Market under the symbol 'BLHK', reflecting its financial stability and growth prospects in the evolving banking landscape.

Conclusion

With solid financial performance and a strategic focus on growth, blueharbor bank is effectively navigating the challenges of the banking sector. The Q3 2025 earnings report not only underscores the bank's current successes but also sets the foundation for continued prosperity in the future. Investors and stakeholders can remain optimistic about the bank's trajectory as it continues to deliver impressive results and value to its clientele.