Author: Ravi Shankar

NewLake Capital Partners to Host Third Quarter 2026 Earnings Call on November 5th at 11:00 a.m. ET

Posted on by Ravi Shankar

NEW CANAAN, Conn., Oct. 22, 2026 (GLOBE NEWSWIRE) — NewLake Capital Partners, Inc. (OTCQX: NLCP) (the “Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that it plans to host a conference call and report its financial results for the third quarter ended September 30, 2026, on Thursday, November 5, 2026. Additional details are available under the Investor Relations section of the Company’s website: https://ir.newlake.com/.

Event: New Lake Capital Partners Third Quarter 2026 Earnings Call
Date: Thursday, November 5, 2026
Time: 11:00 a.m. ET
Live Call: 1-877-407-3982 (U.S. Toll-Free) or 1-201-493-6780 (International)
Webcast: https://ir.newlake.com/news-events/ir-calendar
   

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until November 19, 2026, and can be accessed by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) and entering replay pin number: 13762858.

About NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 35 properties, including 15 cultivation facilities and 20 dispensaries, primarily leased to single tenants under triple-net lease agreements. For more information, please visit www.newlake.com.

Contact Information:
Lisa Meyer
Chief Financial Officer, Treasurer and Secretary
NewLake Capital Partners, Inc.
lmeyer@newlake.com

Investor Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
NewLake@KCSA.com  
PH: (212) 896-1254

Media Contact:
Ellen Mellody
KCSA Strategic Communications
EMellody@KCSA.com
PH: (570) 209-2947

Posted in UncategorizedTagged

SB Financial Group Announces Third Quarter 2026 Results

Posted on by Ravi Shankar

DEFIANCE, Ohio, Oct. 22, 2026 (GLOBE NEWSWIRE) — SB Financial Group, Inc. (NASDAQ: SBFG) (“SB Financial” or the “Company”), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services today reported earnings for the quarter ended September 30, 2026.

Third Quarter 2026 Highlights compared to the third quarter of the prior year and linked quarter include:

  • GAAP net income and Diluted Earnings per Share (“DEPS”) were $3.9 million, or $0.63 per DEPS, a slight decline from the $4.0 million, or $0.64 per DEPS in the prior-year quarter.
  • Total loans reached $1.22 billion, reflecting an increase of $108.2 million, or 9.7 percent, from the prior-year quarter and an improvement of $29.2 million, or 2.5 percent, from the linked quarter. The performance this quarter marks SBFG’s tenth consecutive quarter of expansion in our loan portfolio.
  • Total deposits climbed to $1.38 billion, increasing by $120.3 million, or 9.5 percent, from the prior year quarter, and down $8.3 million, or 0.6 percent, from the linked quarter.
  • Tangible book value (“TBV”) per common share finished the quarter at $18.65, climbing $1.44 per share, or 8.3 percent, from $17.21 in the prior-year quarter. Adjusted tangible book value excluding AOCI advanced to $23.03 at quarter end.

Nine months ended September 30, 2026 Highlights compared to the same period of the prior-year:

  • GAAP net income increased to $12.7 million, a 26.7 percent expansion compared to $10.1 million reported for the previous nine months, and diluted EPS was $2.04, an improvement of 31.1 percent from $1.56, same period last year.
  • Net interest income rose to $39.1 million, representing a 9.4 percent improvement from the $35.7 million reported in the prior-year period.
  • Noninterest income increased by 7.1 percent to $14.4 million compared to $13.4 million reported in the previous nine months.
  • Noninterest expense expanded, increasing by 4.1 percent to $37.2 million from $35.8 million in the prior-year period. YTD operating leverage was strong at 1.7 times.
Earnings Highlights Three Months Ended   Nine Months Ended
($ in thousands, except per share & ratios) Sep. 2026 Sep. 2025 % Change   Sep. 2026 Sep. 2025 % Change
Operating revenue $ 18,075   $ 16,578   9.0 %   $ 53,440   $ 49,140   8.8 %
Interest income   20,526     18,809   9.1 %     59,653     54,648   9.2 %
Interest expense   7,102     6,475   9.7 %     20,563     18,907   8.8 %
Net interest income   13,424     12,334   8.8 %     39,090     35,741   9.4 %
Provision for credit losses   127     124   -2.4 %     640     1,108   -42.2 %
Noninterest income   4,651     4,244   9.6 %     14,350     13,399   7.1 %
Noninterest expense   13,157     11,498   14.4 %     37,223     35,760   4.1 %
Net income   3,946     4,046   -2.5 %     12,739     10,056   26.7 %
Adjusted Earnings per diluted share   0.63     0.68   -7.4 %     1.99     1.67   19.2 %
Earnings per diluted share   0.63     0.64   -1.6 %     2.04     1.56   30.8 %
Adjusted Return on Avg. Assets   0.95 %   1.13 % -15.9 %     1.03 %   0.96 % 7.3 %
Return on average assets   0.96 %   1.07 % -10.3 %     1.06 %   0.90 % 17.8 %
Adjusted Return on Avg. Equity   10.44 %   12.79 % -18.4 %     11.34 %   10.84 % 4.6 %
Return on average equity   10.53 %   12.08 % -12.8 %     11.62 %   10.15 % 14.5 %
                                   

“Net income for the third quarter of 2026 was stable at $3.9 million, a 2.5 percent decrease from the prior-year quarter, with GAAP DEPS of $0.63, a decrease of 1.6 percent,” said Mark A. Klein, Chairman, President, and Chief Executive Officer. While our bottom-line results were slightly lower compared to the prior year, this marks our 63rd consecutive quarter of profitability. Our performance this quarter reflects the continued resilience of our core community banking operations—highlighted by our tenth consecutive quarter of loan growth—and dynamic contributions from our fee-based business lines, which helped mitigate the impact of elevated operating expenses and broader economic pressures.

RESULTS OF OPERATIONS

Total operating revenue for the third quarter of 2026 was $18.1 million, an increase of 9.0 percent year-over-year and slightly improved from the linked quarter. This revenue growth was primarily driven by steady gains in our loan portfolio and resilience in noninterest income categories. Net interest income was $13.4 million for the third quarter of 2026, an increase from $12.3 million in the third quarter of 2025 and $13.0 million in the second quarter of 2026. Total interest income rose to $20.5 million, propelled by robust loan volume and repricing dynamics. Total interest expense was $7.1 million, a 9.7 percent increase from the prior-year period as deposit costs adjusted to the current rate environment. As a result, net interest margin was 3.50 percent, expanding 2 basis points from the third quarter of 2025.

Total loans increased $108.2 million, or 9.7 percent, from the prior-year quarter and $29.2 million, or 2.5 percent, from the linked quarter. Total deposits at quarter end expanded $120.3 million, or 9.5 percent, year-over-year to $1.38 billion, anchored by durable core customer relationships and ongoing deposit gathering initiatives across our footprint, despite a minor linked-quarter decrease of $8.3 million. Overall quarterly performance demonstrated disciplined balance sheet management, robust credit quality, and the strategic resilience of our diversified revenue streams.

Mortgage Loan Business

Net mortgage banking revenue for the quarter reached $1.8 million, an increase of $293,000 from the prior-year quarter. Loan servicing fees added $946,000 for the quarter, an increase from the prior-year period. The OMSR valuation adjustment for the third quarter of 2026 was a recapture of $43,000, compared to a negative adjustment of $301,000 in the third quarter of 2025.

Mortgage Banking              
($ in thousands) Sep. 2026 Jun. 2026 Mar. 2026 Dec. 2025 Sep. 2025   Prior Year Growth
Mortgage originations $ 77,678   $ 79,346   $ 65,768   $ 72,398   $ 67,609     $ 10,069  
Mortgage sales   66,529     70,253     53,420     70,361     66,408       121  
Mortgage servicing portfolio   1,517,593     1,504,657     1,482,052     1,479,982     1,470,360       47,233  
Mortgage servicing rights   16,204     15,953     15,728     15,254     15,347       857  
               
               
Revenue              
Loan servicing fees   946     934     928     928     914       32  
OMSR amortization   (472 )   (497 )   (529 )   (572 )   (455 )     (17 )
Net administrative fees   474     437     399     356     459       15  
OMSR valuation adjustment   43     (54 )   452     (157 )   (301 )     344  
Net loan servicing fees   517     383     851     199     158       359  
Gain on sale of mortgages   1,262     1,541     978     1,272     1,328       (66 )
Mortgage banking revenue, net $ 1,779   $ 1,924   $ 1,829   $ 1,471   $ 1,486     $ 293  
               

Noninterest Income and Noninterest Expense

Total noninterest income for the third quarter of 2026 was $4.7 million, up 9.6 percent from the $4.2 million reported in the third quarter of 2025. The year-over-year expansion was driven primarily by higher net mortgage banking revenue, supported by increased loan servicing fees of $946,000 and a positive OMSR valuation recapture, alongside steady, consistent contributions from our Wealth Management and Title Insurance divisions. “The resilience of our fee based revenue stream validates our diversified business model, as cross-functional referral strategies continue to anchor our above median level of growth,” Klein noted.

                 
Noninterest Income/Noninterest Expense              
($ in thousands, except ratios)   Sep. 2026 Jun. 2026 Mar. 2026 Dec. 2025 Sep. 2025   Prior Year Growth
Noninterest Income (NII)   $ 4,651   $ 4,987   $ 4,712   $ 3,708   $ 4,244     $ 407  
NII / Total Revenue     25.7 %   27.8 %   27.0 %   22.6 %   25.6 %     0.1 %
NII / Average Assets     1.1 %   1.2 %   1.2 %   1.0 %   1.1 %     0.0 %
Total Revenue Growth     9.0 %   4.5 %   13.3 %   6.3 %   15.9 %     -6.9 %
                 
Noninterest Expense (NIE)   $ 13,157   $ 12,137   $ 11,929   $ 11,239   $ 11,498     $ 1,659  
Efficiency Ratio     72.5 %   67.3 %   68.1 %   68.1 %   69.0 %     3.5 %
NIE / Average Assets     3.2 %   3.0 %   3.1 %   2.9 %   3.0 %     0.2 %
Net Noninterest Expense/Avg. Assets     -2.1 %   -1.8 %   -1.9 %   -1.9 %   -1.9 %     -0.2 %
Total Expense Growth     14.4 %   2.4 %   -3.9 %   2.1 %   4.5 %     9.9 %
                 

Noninterest expense for the third quarter of 2026 increased 14.4 percent to $13.2 million from $11.5 million in the prior-year quarter, driven by an increase of $1.14 million in salaries and employee benefits, which totaled $7.3 million, reflecting higher incentive costs and medical expenses. Data processing fees for the quarter stood at $1.12 million compared to $723,000 in the prior-year quarter, while marketing expenses increased to $358,000 from $174,000 in 3Q25. Both of these categories reflect higher costs related to several pending client and product conversions. These increases were partially offset by disciplined reductions in other expenses, which declined $95,000, and employee expenses, which decreased $41,000 from the prior-year period. “Our core efficiency ratio for the third quarter of 2026 was 72.46 percent, compared to 69.00 percent in the third quarter of 2025 and 67.32 percent in the linked quarter,” stated Mr. Klein. “While overhead was elevated this quarter, our fundamental focus on positive operating leverage and disciplined expense management remains a vital pillar as we proactively fund expansion across our growth markets.”

Balance Sheet

As of September 30, 2026, SB Financial reported total assets of $1.61 billion, representing an increase of $69.1 million from December 31, 2025, and $118.2 million, or 7.9 percent, from September 30, 2025. The year-over-year asset growth was primarily driven by steady organic loan generation across our commercial and real estate lines. Cash and due from banks increased by $17.4 million from the prior-year period to $102.4 million, normalizing during the quarter as funds were strategically deployed into the loan portfolio. Key balance-sheet metrics for the quarter included a loan-to-deposit ratio of 88.1 percent and a loan-to-asset ratio of 75.5 percent, both of which remained well-aligned with our target operating bands.

Total deposits at quarter end reached $1.38 billion, an increase of $120.3 million, or 9.5 percent, from the prior-year quarter, supported by a competitive community banking footprint and durable client retention efforts. Noninterest-bearing demand deposits totaled $270.0 million, accounting for 19.5 percent of the total deposit portfolio. Shareholders’ equity finished the period at $144.3 million, representing an increase of $7.4 million, or 5.4 percent from the prior-year period, providing a solid foundation for ongoing organic loan growth initiatives.

During the third quarter of 2026, SB Financial repurchased approximately 6,700 shares of its common stock, reflecting a measured approach to capital allocation and ongoing evaluation of corporate priorities during the period. The Company remains committed to a prudent capital allocation strategy, supporting shareholder returns through dividends and share buybacks while preserving the financial flexibility to fund organic expansion, strategic initiatives, and capital stability.

“In summary, as we enter the final quarter of 2026, SB Financial continues to operate from a position of fundamental strength, anchored by robust capital levels, exceptional credit quality, and a durable core deposit franchise,” stated Mr. Klein. “Achieving our tenth consecutive quarter of loan expansion demonstrates the strength of our relationship-based community banking model and localized lending expertise. Meanwhile, our nonperforming assets remain near historic lows at 0.27 percent of total assets, backed by strong reserve coverage that reflects our unyielding commitment to disciplined credit administration. Positioned with a resilient deposit base, growing fee-generating business lines, and careful overhead control, we remain focused on finishing 2026 with strong momentum and driving long-term value for our shareholders.”

Loan Balances            
($ in thousands, except ratios) Sep. 2026 Jun. 2026 Mar. 2026 Dec. 2025 Sep. 2025 Annual Growth
Commercial $ 106,915   $ 111,128   $ 112,226   $ 113,878   $ 117,581   $ (10,666 )
% of Total   8.8 %   9.3 %   9.5 %   9.6 %   10.6 %   -9.1 %
Commercial RE   640,127     611,274     601,556     596,983     535,307     104,820  
% of Total   52.5 %   51.4 %   50.9 %   50.6 %   48.2 %   19.6 %
Agriculture   83,804     81,341     78,569     76,514     65,150     18,654  
% of Total   6.9 %   6.8 %   6.7 %   6.5 %   5.9 %   28.6 %
Residential RE   294,321     295,481     299,741     304,741     309,140     (14,819 )
% of Total   24.1 %   24.8 %   25.4 %   25.8 %   27.8 %   -4.8 %
Consumer & Other   93,622     90,335     89,043     88,475     83,367     10,255  
% of Total   7.7 %   7.6 %   7.5 %   7.5 %   7.5 %   12.3 %
Total Loans $ 1,218,789   $ 1,189,559   $ 1,181,135   $ 1,180,591   $ 1,110,545   $ 108,244  
Total Growth Percentage             9.7 %
             
             
Deposit Balances            
($ in thousands, except ratios) Sep. 2026 Jun. 2026 Mar. 2026 Dec. 2025 Sep. 2025 Annual Growth
Non-Int DDA $ 270,029   $ 258,576   $ 248,239   $ 254,063   $ 246,725   $ 23,304  
% of Total   19.5 %   18.6 %   18.1 %   19.4 %   19.5 %   9.4 %
Interest DDA   205,459     206,593     215,594     202,501     194,420     11,039  
% of Total   14.9 %   14.9 %   15.7 %   15.5 %   15.4 %   5.7 %
Savings   312,212     325,675     333,662     296,484     290,111     22,101  
% of Total   22.6 %   23.4 %   24.3 %   22.7 %   23.0 %   7.6 %
Money Market   322,395     315,363     300,028     280,896     261,953     60,442  
% of Total   23.3 %   22.7 %   21.9 %   21.5 %   20.7 %   23.1 %
Time Deposits   272,769     284,940     274,300     273,300     269,313     3,456  
% of Total   19.7 %   20.5 %   20.0 %   20.9 %   21.3 %   1.3 %
Total Deposits $ 1,382,864   $ 1,391,147   $ 1,371,823   $ 1,307,244   $ 1,262,522   $ 120,342  
Total Growth Percentage             9.5 %
             

Asset Quality

As of September 30, 2026, SB Financial continued to focus on maintaining strong asset quality metrics. Nonperforming assets totaled $4.3 million, representing 0.27 percent of total assets, an improvement of $574,000 compared to $4.9 million, or 0.32 percent of total assets, in the prior-year quarter, and relatively stable compared to the linked-quarter balance of $4.4 million, or 0.27 percent of total assets. Total nonaccruing loans declined significantly to $3.2 million from $4.6 million in the prior-year period, while foreclosed properties and repossessed assets stood at $1.1 million.

The allowance for credit losses remained strong at 1.34 percent of total loans, providing 508.9 percent coverage of nonperforming loans—a substantial increase from 345.4 percent in 3Q25 and consistent with 470.3 percent in the linked quarter, reflecting a conservative approach to risk management. Annualized net loan charge-offs to average loans remained exceptionally modest at less than 1 basis point, improving from 6 basis points in the linked quarter and comparable to less than 1 basis point in the prior year quarter, with net charge-offs totaling $17,000.

“Our asset quality metrics embody our commitment to disciplined risk management within a dynamic economic environment,” stated Mr. Klein. “With nonperforming assets down year-over-year and our allowance providing over 500 percent coverage of nonperforming loans, our reserve position underscores the inherent quality of our loan portfolio and the strength of our client relationships. We remain dedicated to balancing our conservative credit discipline with proactive support for high-quality loan growth across all nine of our major markets.”

Nonperforming Assets           Annual
Change
($ in thousands, except ratios) Sep. 2026 Jun. 2026 Mar. 2026 Dec. 2025 Sep. 2025
Commercial & Agriculture $ 1,054   $ 1,304   $ 1,359   $ 2,256   $ 2,243   $ (1,189 )
% of Total Com./Ag. loans   0.55 %   0.68 %   0.71 %   1.18 %   1.23 %   -53.0 %
                                     
Commercial RE   195     339     668     771     778     (583 )
% of Total CRE loans   0.03 %   0.06 %   0.11 %   0.13 %   0.15 %   -74.9 %
                                     
Residential RE   1,493     1,476     1,439     1,322     1,400     93  
% of Total Res. RE loans   0.51 %   0.50 %   0.48 %   0.43 %   0.45 %   6.6 %
                                     
Consumer & Other   476     367     233     230     195     281  
% of Total Con./Oth. loans   0.51 %   0.41 %   0.26 %   0.26 %   0.23 %   144.1 %
Total Nonaccruing Loans   3,218     3,486     3,699     4,579     4,616     (1,398 )
% of Total loans   0.26 %   0.29 %   0.31 %   0.39 %   0.42 %   -30.3 %
                                     
Foreclosed Assets and Other Assets   1,061     936     974     104     237     824  
Total Change (%)           N/M
Total Nonperforming Assets $ 4,279   $ 4,422   $ 4,673   $ 4,683   $ 4,853   $ (574 )
% of Total assets   0.27 %   0.27 %   0.29 %   0.30 %   0.32 %   -11.83 %
             

Webcast and Conference Call

The Company will hold the third quarter 2026 earnings conference call and webcast on October 22, 2026, at 3:30 p.m. EST. Interested parties may access the conference call by dialing 1-888-338-9469. The webcast can be accessed at ir.yourstatebank.com. An audio replay of the call will be available on the Company’s website.

About SB Financial Group

Headquartered in Defiance, Ohio, SB Financial is a diversified financial services holding company for the State Bank & Trust Company (State Bank) and SBFG Title, LLC dba Peak Title (Peak Title). State Bank provides a full range of financial services for consumers and small businesses, including wealth management, private client services, mortgage banking and commercial and agricultural lending, operating through a total of 27 offices: 25 in eleven Ohio counties and two in Northeast, Indiana, and 27 ATMs. State Bank has four Residential loan production offices located throughout Ohio and Indiana. Peak Title provides title insurance and title opinions throughout the Tri-State and Kentucky. SB Financial’s common stock is listed on the NASDAQ Capital Market with the ticker symbol “SBFG”.

Forward-Looking Statements

Certain statements within this document, which are not statements of historical fact, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those predicted by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in the national and regional banking industry, changes in economic conditions in the market areas in which SB Financial and its subsidiaries operate, changes in policies by regulatory agencies, changes in accounting standards and policies, changes in tax laws, fluctuations in interest rates, demand for loans in the market areas in which SB Financial and its subsidiaries operate, increases in FDIC insurance premiums, changes in the competitive environment, losses of significant customers, geopolitical events, the loss of key personnel and other risks identified in SB Financial’s Annual Report on Form 10-K and documents subsequently filed by SB Financial with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and SB Financial undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, except as required by law. All subsequent written and oral forward-looking statements attributable to SB Financial or any person acting on its behalf are qualified by these cautionary statements.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Non-GAAP financial measures, specifically pre-tax, pre-provision income, tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, total interest income – FTE, net interest income – FTE and net interest margin – FTE are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. In addition, the Company excludes the OMSR valuation adjustment and any gain on sale of assets from net income to report a non-GAAP adjusted net income level. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Investor Contact Information:

Mark A. Klein
Chairman, President and 
Chief Executive Officer
Mark.Klein@YourStateBank.com

Anthony V. Cosentino
Executive Vice President and 
Chief Financial Officer
Tony.Cosentino@YourStateBank.com

    SB FINANCIAL GROUP, INC.
    CONSOLIDATED BALANCE SHEETS – (Unaudited)
                           
          September   June   March   December   September
      ($ in thousands)     2026       2026       2026       2025       2025  
                           
ASSETS                    
  Cash and due from banks   $ 102,427     $ 138,152     $ 126,293     $ 71,543     $ 85,025  
  Interest bearing time deposits     1,715       2,455       1,965       1,140       2,025  
  Available-for-sale securities     177,767       179,026       183,626       188,626       193,190  
  Loans held for sale     5,391       7,438       7,203       1,761       4,736  
  Loans, net of unearned income     1,218,789       1,189,559       1,181,135       1,180,591       1,110,545  
  Allowance for credit losses     (16,377 )     (16,395 )     (16,388 )     (16,114 )     (15,943 )
  Premises and equipment, net     20,775       21,088       21,295       21,688       21,764  
  Federal Reserve and FHLB Stock, at cost     5,674       5,502       5,463       5,610       5,466  
  Foreclosed assets     1,061       936       974       104       237  
  Interest receivable     5,989       5,455       5,499       5,490       5,455  
  Goodwill     27,158       27,158       27,158       27,158       27,158  
  Cash value of life insurance     32,469       32,354       32,401       32,208       32,004  
  Mortgage servicing rights     16,204       15,953       15,728       15,254       15,347  
  Other assets     15,449       11,383       12,246       10,308       9,254  
      Total assets   $ 1,614,491     $ 1,620,064     $ 1,604,598     $ 1,545,367     $ 1,496,263  
                           
                           
                           
LIABILITIES AND SHAREHOLDERS’ EQUITY                    
  Deposits                    
    Non interest bearing demand   $ 270,029     $ 258,576     $ 248,239     $ 254,063     $ 246,725  
    Interest bearing demand     205,459       206,593       215,594       202,501       194,420  
    Savings     312,212       325,675       333,662       296,484       290,111  
    Money market     322,395       315,363       300,028       280,896       261,953  
    Time deposits     272,769       284,940       274,300       273,300       269,313  
      Total deposits     1,382,864       1,391,147       1,371,823       1,307,244       1,262,522  
                           
  Short-term borrowings     6,285       6,732       9,433       9,230       10,976  
  Federal Home Loan Bank advances     22,500       22,500       27,500       35,000       35,000  
  Trust preferred securities     10,310       10,310       10,310       10,310       10,310  
  Subordinated debt net of issuance costs     19,775       19,763       19,751       19,739       19,726  
  Interest payable     2,572       2,470       2,553       2,460       2,739  
  Other liabilities     25,841       20,402       19,573       20,148       18,051  
      Total liabilities     1,470,147       1,473,324       1,460,943       1,404,131       1,359,324  
                           
  Shareholders’ Equity                    
    Common stock     61,319       61,319       61,319       61,319       61,319  
    Additional paid-in capital     15,178       15,275       15,065       15,160       15,086  
    Retained earnings     136,071       133,125       129,631       126,311       123,370  
    Accumulated other comprehensive loss     (27,138 )     (21,854 )     (21,861 )     (21,481 )     (23,412 )
    Treasury stock     (41,086 )     (41,125 )     (40,499 )     (40,073 )     (39,424 )
      Total shareholders’ equity     144,344       146,740       143,655       141,236       136,939  
                           
      Total liabilities and shareholders’ equity $ 1,614,491     $ 1,620,064     $ 1,604,598     $ 1,545,367     $ 1,496,263  
                           

SB FINANCIAL GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME – (Unaudited)
                                   
  ($ in thousands, except per share & ratios)   At and for the Three Months Ended   Nine Months Ended
                                   
          September   June   March   December   September   September   September
  Interest income   2026   2026   2026   2025   2025   2026   2025
    Loans                            
      Taxable   $ 18,244   $ 17,498   $ 17,246   $ 17,234   $ 16,449   $ 52,988   $ 47,752
      Tax exempt   97   98   99   107   117   294   348
    Securities                            
      Taxable   1,004   1,006   1,029   1,096   1,097   3,039   3,399
      Tax exempt   36   36   36   36   35   108   108
    Other interest income   1,145   1,182   897   799   1,111   3,224   3,041
      Total interest income   20,526   19,820   19,307   19,272   18,809   59,653   54,648
                                   
  Interest expense                            
    Deposits   6,369   6,237   5,957   5,820   5,721   18,563   16,670
    Repurchase agreements & other   6   7   14   22   28   27   73
    Federal Home Loan Bank advances 230   234   285   370   369   749   1,097
    Trust preferred securities   146   145   144   154   162   435   483
    Subordinated debt   351   243   195   194   195   789   584
      Total interest expense   7,102   6,866   6,595   6,560   6,475   20,563   18,907
                                   
                                   
  Net interest income   13,424   12,954   12,712   12,712   12,334   39,090   35,741
                                   
    Provision for credit losses   127   299   214   198   124   640   1,108
                                   
  Net interest income after provision                            
    for credit losses   13,297   12,655   12,498   12,514   12,210   38,450   34,633
                                   
  Noninterest income                            
    Wealth management fees   954   955   941   900   912   2,850   2,635
    Customer service fees   932   917   910   892   887   2,759   2,652
    Gain on sale of mtg. loans & OMSR 1,262   1,541   978   1,272   1,328   3,781   3,743
    Mortgage loan servicing fees, net   517   383   851   199   158   1,751   1,363
    Gain on sale of non-mortgage loans 29   62   144   38   8   235   105
    Title insurance revenue   514   577   485   525   544   1,576   1,523
    Gain (loss) on sale of assets   (32)   (9)   8   –   –   (33)   –
    Other   475   561   395   (118)   407   1,431   1,378
      Total noninterest income   4,651   4,987   4,712   3,708   4,244   14,350   13,399
                                   
  Noninterest expense                            
    Salaries and employee benefits   7,339   7,005   6,096   6,047   6,198   20,440   19,030
    Net occupancy expense   831   802   882   822   801   2,515   2,487
    Equipment expense   1,205   1,226   1,244   1,154   1,188   3,675   3,381
    Data processing fees   1,124   693   726   790   723   2,543   3,050
    Professional fees   854   844   1,016   805   863   2,714   2,789
    Marketing expense   358   255   277   122   174   890   529
    Telephone and communication expense   119   126   118   124   123   363   387
    Postage and delivery expense   149   146   187   140   157   482   401
    State, local and other taxes   311   221   288   331   268   820   760
    Employee expense   214   177   184   158   255   575   605
    Other expenses   653   642   911   746   748   2,206   2,341
      Total noninterest expense   13,157   12,137   11,929   11,239   11,498   37,223   35,760
                                   
                                   
  Income before income tax expense   4,791   5,505   5,281   4,983   4,956   15,577   12,272
    Income tax expense   845   1,008   985   1,065   910   2,838   2,216
                                   
  Net income   $ 3,946   $ 4,497   $ 4,296   $ 3,918   $ 4,046   $ 12,739   $ 10,056
                                   
  Common share data:                            
    Basic earnings per common share   $ 0.64   $ 0.72   $ 0.69   $ 0.63   $ 0.64   $ 2.05   $ 1.57
    Diluted earnings per common share $ 0.63   $ 0.72   $ 0.69   $ 0.63   $ 0.64   $ 2.04   $ 1.56
                                   
  Average shares outstanding (in thousands):                            
    Basic:   6,194   6,205   6,230   6,252   6,297   6,210   6,408
    Diluted:   6,218   6,220   6,243   6,266   6,311   6,230   6,427
                                   

               SB FINANCIAL GROUP, INC.
                CONSOLIDATED FINANCIAL HIGHLIGHTS – (Unaudited)
                               
  ($ in thousands, except per share & ratios) At and for the Three Months Ended   Nine Months Ended
                               
      September   June   March   December   September   September   September
  SUMMARY OF OPERATIONS     2026       2026       2026       2025       2025       2026       2025  
                               
     Net interest income   $ 13,424     $ 12,954     $ 12,712     $ 12,712     $ 12,334     $ 39,090     $ 35,741  
           Tax-equivalent adjustment     35       36       36       38       40       107       121  
     Tax-equivalent net interest income     13,459       12,990       12,748       12,750       12,374       39,197       35,862  
     Provision for credit loss     127       299       214       198       124       640       1,108  
     Noninterest income     4,651       4,987       4,712       3,708       4,244       14,350       13,399  
     Total operating revenue     18,075       17,941       17,424       16,420       16,578       53,440       49,140  
     Noninterest expense     13,157       12,137       11,929       11,239       11,498       37,223       35,760  
     Pre-tax pre-provision income     4,918       5,804       5,495       5,181       5,080       16,217       13,380  
     Net income     3,946       4,497       4,296       3,918       4,046       12,739       10,056  
                               
  PER SHARE INFORMATION:                            
     Basic earnings per share (EPS)     0.64       0.72       0.69       0.63       0.64       2.05       1.57  
     Diluted earnings per share     0.63       0.72       0.69       0.63       0.64       2.04       1.56  
     Common dividends     0.160       0.160       0.155       0.155       0.150       0.475       0.450  
     Book value per common share     23.30       23.70       23.10       22.65       21.85       23.30       21.85  
     Tangible book value per common share (TBV)     18.65       19.04       18.45       18.00       17.21       18.65       17.21  
     Market price per common share     28.61       25.27       21.00       22.27       19.29       28.61       19.29  
     Market price to TBV     153.4 %     132.7 %     113.8 %     123.7 %     112.1 %     153.4 %     112.1 %
     Market price to trailing 12 month EPS     10.7       9.4       8.2       10.1       9.1       10.7       9.1  
                               
  PERFORMANCE RATIOS:                            
     Return on average assets (ROAA)     0.96 %     1.12 %     1.10 %     1.01 %     1.07 %     1.06 %     0.90 %
     Pre-tax pre-provision ROAA     1.20 %     1.45 %     1.41 %     1.34 %     1.34 %     1.44 %     1.29 %
     Return on average equity (ROE)     10.34 %     12.44 %     12.04 %     11.08 %     12.08 %     11.51 %     10.15 %
     Return on average tangible equity     12.77 %     15.53 %     15.06 %     13.97 %     15.47 %     14.31 %     12.89 %
     Efficiency ratio     72.46 %     67.32 %     68.12 %     68.09 %     69.00 %     69.32 %     72.41 %
     Earning asset yield     5.35 %     5.20 %     5.29 %     5.32 %     5.31 %     5.31 %     5.27 %
     Cost of interest bearing liabilities     2.38 %     2.31 %     2.31 %     2.34 %     2.33 %     2.35 %     2.33 %
     Net interest margin     3.50 %     3.43 %     3.48 %     3.51 %     3.48 %     3.47 %     3.44 %
     Tax equivalent effect     0.01 %     0.01 %     0.01 %     0.01 %     0.02 %     0.02 %     0.02 %
     Net interest margin, tax equivalent     3.51 %     3.44 %     3.49 %     3.52 %     3.50 %     3.49 %     3.46 %
     Non interest income/Average assets     1.13 %     1.24 %     1.21 %     0.96 %     1.12 %     1.19 %     1.20 %
     Non interest expense/Average assets     3.21 %     3.03 %     3.06 %     2.90 %     3.04 %     3.10 %     3.21 %
     Net noninterest expense/Average assets     -2.07 %     -1.78 %     -1.85 %     -1.94 %     -1.92 %     -1.90 %     -2.01 %
                               
  ASSET QUALITY RATIOS:                            
     Gross charge-offs     133       196       33       133       11       362       146  
     Recoveries     116       3       8       3       9       126       14  
     Net charge-offs     17       193       25       130       2       236       132  
     Nonperforming loans/Total loans     0.26 %     0.29 %     0.31 %     0.39 %     0.42 %     0.26 %     0.42 %
     Nonperforming assets/Loans & OREO     0.35 %     0.37 %     0.40 %     0.40 %     0.44 %     0.35 %     0.44 %
     Nonperforming assets/Total assets     0.27 %     0.27 %     0.29 %     0.30 %     0.32 %     0.27 %     0.32 %
     Allowance for credit loss/Nonperforming loans     508.92 %     470.31 %     443.04 %     351.91 %     345.39 %     508.92 %     345.39 %
     Allowance for credit loss/Total loans     1.34 %     1.38 %     1.39 %     1.36 %     1.44 %     1.34 %     1.44 %
     Net loan charge-offs/Average loans (ann.)     0.01 %     0.06 %     0.01 %     0.04 %     0.00 %     0.03 %     0.02 %
                               
  CAPITAL & LIQUIDITY RATIOS:                            
     Loans/ Deposits     88.14 %     85.51 %     86.10 %     90.31 %     87.96 %     88.14 %     87.96 %
     Equity/ Assets     8.94 %     9.06 %     8.95 %     9.14 %     9.15 %     8.94 %     9.15 %
     Tangible equity/Tangible assets     7.29 %     7.41 %     7.28 %     7.40 %     7.35 %     7.29 %     7.35 %
     Common equity tier 1 ratio (Bank)     12.09 %     12.37 %     12.11 %     11.78 %     12.48 %     12.09 %     12.48 %
                               
  END OF PERIOD BALANCES                            
     Total assets     1,614,491       1,620,064       1,604,598       1,545,367       1,496,263       1,614,491       1,496,263  
     Total loans     1,218,789       1,189,559       1,181,135       1,180,591       1,110,545       1,218,789       1,110,545  
     Deposits     1,382,864       1,391,147       1,371,823       1,307,244       1,262,522       1,382,864       1,262,522  
     Shareholders equity     144,344       146,740       143,655       141,236       136,939       144,344       136,939  
     Goodwill and intangibles     28,811       28,870       28,929       28,989       29,048       28,811       29,048  
     Tangible equity     115,533       117,870       114,726       112,247       107,891       115,533       107,891  
     Mortgage servicing portfolio     1,517,593       1,504,657       1,482,052       1,479,982       1,470,360       1,517,593       1,470,360  
     Wealth/Brokerage assets under care     578,292       585,919       556,930       566,004       563,036       578,292       563,036  
     Total assets under care     3,710,376       3,710,640       3,643,580       3,591,353       3,529,659       3,710,376       3,529,659  
     Full-time equivalent employees     266       258       258       252       253       266       253  
     Period end common shares outstanding     6,196       6,191       6,219       6,236       6,268       6,196       6,268  
     Market capitalization (all)     177,274       156,436       130,597       138,883       120,907       177,274       120,907  
                               
  AVERAGE BALANCES                            
     Total assets     1,628,195       1,608,355       1,579,781       1,536,215       1,502,389       1,606,315       1,487,251  
     Total earning assets     1,521,057       1,521,057       1,479,667       1,436,207       1,404,330       1,502,326       1,387,258  
     Total loans     1,217,995       1,193,207       1,186,225       1,158,567       1,104,175       1,199,258       1,091,670  
     Deposits     1,393,085       1,381,439       1,347,351       1,299,512       1,270,783       1,373,977       1,256,732  
     Shareholders equity     151,417       145,034       144,659       140,315       132,866       147,936       132,426  
     Goodwill and intangibles     28,840       28,899       28,959       29,027       29,077       28,899       28,140  
     Tangible equity     122,577       116,135       115,700       111,288       103,789       119,037       104,286  
     Average basic shares outstanding     6,194       6,205       6,230       6,252       6,297       6,210       6,408  
     Average diluted shares outstanding     6,218       6,220       6,243       6,266       6,311       6,230       6,427  
                               

SB FINANCIAL GROUP, INC.
  Rate Volume Analysis – (Unaudited)
  For the Three & Nine Months Ended Sep. 30, 2026 and 2025
           
  ($ in thousands)   Three Months Ended Sep. 30, 2026   Three Months Ended Sep. 30, 2025
      Average   Average   Average   Average
Assets   Balance Interest Rate   Balance Interest Rate
                   
  Taxable securities   $ 177,850   $ 1,004 2.24 %   $ 193,893   $ 1,097 2.24 %
  Overnight Cash     120,444     1,145 3.77 %     100,164     1,111 4.40 %
  Nontaxable securities     4,768     36 3.00 %     6,098     35 2.28 %
  Loans, net     1,217,995     18,341 5.97 %     1,104,175     16,566 5.95 %
         Total earning assets     1,521,057     20,526 5.35 %     1,404,330     18,809 5.31 %
  Cash on hand     5,415           5,044      
  Allowance for loan losses     (16,515 )         (15,750 )    
  Premises and equipment     21,003           21,854      
  Other assets     97,235           86,911      
        Total assets   $ 1,628,195         $ 1,502,389      
                   
Liabilities                
  Savings, MMDA and interest bearing demand $ 845,195   $ 4,121 1.93 %   $ 753,639   $ 3,442 1.81 %
  Time deposits     277,406     2,248 3.22 %     267,984     2,279 3.37 %
  Repurchase agreements & other     7,689     6 0.31 %     14,015     28 0.79 %
  Advances from Federal Home Loan Bank     22,500     230 4.06 %     35,000     369 4.18 %
  Trust preferred securities     10,310     146 5.62 %     10,310     162 6.23 %
  Subordinated debt     19,767     351 7.04 %     19,719     195 3.92 %
        Total interest bearing liabilities     1,182,867     7,102 2.38 %     1,100,667     6,475 2.33 %
  Non interest bearing demand     270,484     –       249,160     –  
        Total funding     1,453,351     1.94 %     1,349,827     1.90 %
  Other liabilities     23,427           19,696      
        Total liabilities     1,476,778           1,369,523      
  Equity     151,417           132,866      
        Total liabilities and equity   $ 1,628,195         $ 1,502,389      
                   
  Net interest income     $ 13,424       $ 12,334  
                   
  Net interest income as a percent of average interest-earning assets – GAAP measure       3.50 %       3.48 %
                   
  Net interest income as a percent of average interest-earning assets – non GAAP 3.51 %       3.50 %
   – Computed on a fully tax equivalent (FTE) basis            
                   
      Nine Months Ended Sep. 30, 2026   Nine Months Ended Sep. 30, 2025
      Average   Average   Average   Average
Assets   Balance Interest Rate   Balance Interest Rate
                   
  Taxable securities   $ 182,870   $ 3,039 2.22 %   $ 198,463   $ 3,399 2.29 %
  Overnight Cash     115,431     3,224 3.73 %     90,829     3,041 4.48 %
  Nontaxable securities     4,767     108 3.03 %     6,296     108 2.29 %
  Loans, net     1,199,258     53,282 5.94 %     1,091,670     48,100 5.89 %
         Total earning assets     1,502,326     59,653 5.31 %     1,387,258     54,648 5.27 %
  Cash on hand     5,429           4,880      
  Allowance for loan losses     (16,398 )         (15,492 )    
  Premises and equipment     21,245           21,555      
  Other assets     93,713           89,050      
                   
        Total assets   $ 1,606,315         $ 1,487,251      
                   
Liabilities                
  Savings, MMDA and interest bearing demand $ 831,888   $ 11,767 1.89 %   $ 734,938   $ 9,624 1.75 %
  Time deposits     276,916     6,796 3.28 %     273,508     7,046 3.44 %
  Repurchase agreements & Other     8,341     27 0.43 %     12,549     73 0.78 %
  Advances from Federal Home Loan Bank     24,533     749 4.08 %     35,015     1,097 4.19 %
  Trust preferred securities     10,310     435 5.64 %     10,310     483 6.26 %
  Subordinated debt     19,755     789 5.34 %     19,707     584 3.96 %
        Total interest bearing liabilities     1,171,743     20,563 2.35 %     1,086,027     18,907 2.33 %
  Non interest bearing demand     265,173     1.91 %     248,286     1.89 %
        Total funding     1,436,916           1,334,313      
  Other liabilities     21,463           20,512      
        Total liabilities     1,458,379           1,354,825      
  Equity     147,936           132,426      
        Total liabilities and equity   $ 1,606,315         $ 1,487,251      
                   
  Net interest income     $ 39,090       $ 35,741  
                   
  Net interest income as a percent of average interest-earning assets – GAAP measure       3.48 %       3.44 %
                   
  Net interest income as a percent of average interest-earning assets – non GAAP 3.49 %       3.46 %
   – Computed on a fully tax equivalent (FTE) basis            
                   

Non-GAAP reconciliation   Three Months Ended   Nine Months Ended
                 
($ in thousands, except per share & ratios)   Sep. 30, 2026   Sep. 30, 2025   Sep. 30, 2026   Sep. 30, 2025
                 
Total Operating Revenue   $ 18,075     $ 16,578     $ 53,440     $ 49,140  
 Adjustment to (deduct)/add OMSR recapture/impairment *   (43 )     301       (398 )     131  
Adjusted Total Operating Revenue     18,032       16,879       53,042       49,271  
                 
                 
Total Operating Expense     13,157       11,498       37,223       35,760  
 Adjustment for merger expenses     –       –       –       (726 )
Adjusted Total Operating Expense     13,157       11,498       37,223       35,034  
                 
                 
Income before Income Taxes     4,791       4,956       15,577       12,272  
 Adjustment for OMSR*/Merger Expenses     (43 )     301       (398 )     857  
Adjusted Income before Income Taxes     4,748       5,257       15,179       13,129  
                 
                 
Provision for Income Taxes     845       910       2,838       2,216  
 Adjustment for OMSR/Merger Expenses **     (9 )     63       (84 )     180  
Adjusted Provision for Income Taxes     836       973       2,754       2,396  
                 
                 
Net Income     3,946       4,046       12,739       10,056  
 Adjustment for OMSR*/Merger Expenses     (34 )     238       (314 )     677  
Adjusted Net Income     3,912       4,284       12,425       10,733  
                 
                 
Diluted Earnings per Share     0.63       0.64       2.04       1.56  
 Adjustment for OMSR*/Merger Expenses     (0.01 )     0.04       (0.05 )     0.11  
Adjusted Diluted Earnings per Share   $ 0.63     $ 0.68     $ 1.99     $ 1.67  
                 
                 
Return on Average Assets     0.96 %     1.07 %     1.06 %     0.90 %
 Adjustment for OMSR*/Merger Expenses     (0.00 )     0.06 %     -0.03 %     0.06 %
Adjusted Return on Average Assets     0.95 %     1.13 %     1.03 %     0.96 %
                 
*valuation adjustment to the Company’s mortgage servicing rights            
                 
**tax effect is calculated using a 21% statutory federal corporate income tax rate        
                 

Posted in UncategorizedTagged

FormFactor Opens Farmers Branch Manufacturing Facility to Support Growing Demand for Advanced Probe Card Technologies

Posted on by Ravi Shankar

Strategic investment enhances manufacturing scale, operational flexibility, and customer support as semiconductor test requirements continue to advance

LIVERMORE, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) — FormFactor, Inc. (Nasdaq: FORM), a leading provider of semiconductor test and measurement technologies, today announced the opening of its Farmers Branch manufacturing facility, marking an important milestone in the company’s strategy to expand manufacturing capacity, strengthen operational flexibility, and support growing demand for advanced semiconductor test technologies.

“The opening of our Farmers Branch facility marks an important milestone for FormFactor, expanding our capabilities and capacity to fuel our future growth,” said Missy Figueroa, Senior Vice President, Global Operations at FormFactor. “This investment expands our ability to serve customers worldwide with greater scale, flexibility, and speed, while strengthening our ability to manufacture enabling semiconductor test and measurement technology in the United States.”

As semiconductor devices become increasingly complex, test requirements to ensure performance, yield, and reliability continue to intensify. The rapid adoption of advanced packaging to enable high-performance compute silicon, including GPUs, custom ASICs, and high-bandwidth memory (HBM), is driving extraordinary demand for advanced semiconductor test solutions. The Farmers Branch investment enhances FormFactor’s ability to support these trends by expanding production capacity for advanced probe card technologies and helping customers address rising test complexity as they develop next-generation semiconductor devices.

“As semiconductor innovation accelerates, advanced test technologies play an essential role in enabling device performance, yield, and production readiness,” said Mike Slessor, Chief Executive Officer of FormFactor. “The opening of our Farmers Branch facility reflects our commitment to investing in the capabilities and technology leadership needed to support our customers as they develop the next generation of semiconductor technologies.”

At the probe card level, increasing device complexity is placing greater demands on test performance and capability.

“Our focus is on advancing probe card technologies that deliver the best performance and scalability our customers need to address evolving test challenges and enable their next-generation high-performance compute roadmaps,” said Sudhakar Raman, Senior Vice President and General Manager of FormFactor’s Probes Business Unit.

The facility is part of FormFactor’s global manufacturing and operations network serving customers throughout Asia, Europe, and North America. The investment reflects the company’s continued confidence in the long-term growth of the semiconductor industry and the increasing importance of advanced test and measurement technologies in enabling future innovation.

About FormFactor
FormFactor, Inc. (Nasdaq: FORM) is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws. These statements are based on management’s current expectations and beliefs as of the date of this release and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements.

These forward-looking statements include, but are not limited to, statements regarding customer demand, industry growth, manufacturing capacity, operational capabilities, advanced packaging trends, market opportunities, and the Company’s plans, strategies, and objectives for future operations. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” “continue,” and similar expressions and include the assumptions that underlie such statements.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunities; anticipated industry trends; manufacturing and supply chain dynamics; labor availability; changes in macroeconomic conditions; export controls, tariffs, and other trade barriers; geopolitical developments; and other factors, including those set forth in the Company’s most current Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission.

No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company undertakes no obligation to update or revise any forward-looking statements.

Investor Contact
Stan Finkelstein
Investor Relations
(925) 290-4273
ir@formfactor.com

Posted in UncategorizedTagged

T3 Defense Delivers Mobile UAV Command-and-Control Vehicle to Israeli HLS Operator

Posted on by Ravi Shankar

Integrated vehicle delivered to B.K. Vision marks first customer delivery since mobile UAV and counter-UAV platform line was introduced in August 2026

Company aims to build on milestone to generate additional orders across its mission-ready product portfolio

Photo

NEW YORK and NETANYA, Israel, Oct. 22, 2026 (GLOBE NEWSWIRE) — T3 Defense Inc. (Nasdaq: DFNS) (“T3 Defense” or the “Company”), a defense company that acquires and operates mission-critical defense businesses, today announced that its wholly owned subsidiary, Rimon Agencies Ltd. (“Rimon”), has delivered a drone-integrated mobile command-and-control (C2) vehicle to B.K. Vision Ltd. (“B.K. Vision”), a leading Israeli provider of homeland security (HLS) services. This delivery marks the transition from product introduction to customer deployment, representing the first unit delivered to a customer under the mobile unmanned aerial vehicle (UAV) and counter-UAV (C-UAV) platform line introduced by Rimon in August 2026.

Built by Rimon’s UAV Platforms project division, the fully integrated platform provides B.K. Vision with a self-contained base from which to launch, control and recover a UAV and manage a response where no fixed infrastructure exists.

“A command-and-control vehicle is central to a cohesive operation where power, communications, aircraft and operators all come together,” said Itamar Shimoni, Chief Executive Officer of Rimon. “We delivered B.K. Vision a vehicle that is ready to operate the day it arrives, bringing these capabilities together in a single mobile platform. As we continue to see an increasing need across defense and homeland security organizations in Israel and abroad, our focus is on applying Rimon’s engineering and integration capabilities to the operational requirements of additional defense and homeland security customers.”

“In August we said the drone threat had moved faster than the infrastructure built to answer it,” said Menny Shalom, Chairman and Chief Executive Officer of T3 Defense. “This delivery is that infrastructure, built and deployed. As the first command-and-control vehicle shipped under Rimon’s new platform line, it marks the transition from product introduction to customer delivery. Our focus is on translating this milestone into additional orders and building a repeatable business around mission-ready products.”

About Rimon

Rimon is a bespoke engineering and systems integration company that develops mission-ready infrastructure platforms for defense, homeland security, and emergency response operations. The company imports, distributes, and upgrades mobile power systems, elevated sensor masts, and builds integrated mission vehicles that support surveillance, communications, and command systems operating in environments where permanent infrastructure is unavailable. By engineering systems around real operational requirements, Rimon enables critical technologies to be deployed rapidly and operate reliably in demanding field conditions.

About T3 Defense Inc.

T3 Defense Inc. (Nasdaq: DFNS) is a defense company that acquires and operates mission-critical defense businesses involved in national security programs. It focuses on manufacturers with strong customer relationships and solid order backlogs, often capacity- and resource-constrained, in specialized areas such as drones and autonomous vehicles, counter-drone systems, advanced manufacturing, tactical robotics, and AI software and system integration. Through disciplined acquisitions, centralized capital and strategy, and decentralized day-to-day operations, T3 Defense aims to strengthen essential defense capabilities and build long-term value. For more information, visit www.t3dfns.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the anticipated capabilities, configurations and availability of the command-and-control vehicles and trailers described herein; expected demand from defense and homeland security customers; the potential for additional orders or recurring revenue; and the Company’s growth strategy. These statements are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially, including the risk that a single delivery is not indicative of future orders; the absence of orders for the configurable platforms described herein; customer qualification, procurement timing and program funding; dependence on a limited number of customers; manufacturing execution, capacity and supply-chain risks; competitive and geopolitical conditions, including conditions in Israel; the Company’s liquidity and capital resources; the Company’s ability to maintain compliance with Nasdaq listing requirements; the integration of acquired businesses; and other risks described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contact Us:

T3 Defense Inc.
575 5th Avenue
New York, NY 10017
contact@t3dfns.com
www.t3dfns.com

Rimon
Chen Ganzer
chen.ganzer@rimon1.com

Investor Relations
The Equity Group Inc.
Lena Cati
lena.cati@theequitygroup.com
+1 212 836-9611

Val Ferraro
val.ferraro@theequitygroup.com
+1 212 836-9633

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/25509aa4-781c-4f3f-abd0-86a2bf781c14

Posted in UncategorizedTagged

CPS to Host Conference Call on Third Quarter 2026 Earnings

Posted on by Ravi Shankar

LAS VEGAS, Nevada, Oct. 22, 2026 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it will hold a conference call on Monday, October 26, 2026 at 1:00 p.m. ET to discuss its third quarter 2026 operating results.

Those wishing to participate can pre-register for the conference call at the following link https://register-conf.media-server.com/register/BI87f6cd84ada240bc85917c79cf055d45 . Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

Investor Relations Contact

Danny Bharwani, Chief Financial Officer

949-753-6811

Posted in UncategorizedTagged

PLUMAS BANCORP DECLARES QUARTERLY CASH DIVIDEND

Posted on by Ravi Shankar

RENO, Nev., Oct. 22, 2026 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank (the “Bank”), today announced that the Board of Directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.33 per share, payable November 17, 2026, to stockholders of record as of November 3, 2026.

About Plumas Bancorp

Plumas Bank is a subsidiary of Plumas Bancorp (NASDAQ: PLBC), a bank holding company headquartered in Reno, Nevada. Plumas Bank is a locally managed, award-winning community bank founded in 1980 and headquartered in Quincy, California. With 18 branch offices in Northeastern California and Northern Nevada, and loan production offices in California and southern Oregon, Plumas Bank is one of the top performing community banks in the country. For more information regarding Plumas Bancorp and Plumas Bank, visit plumasbank.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank’s publicly available regulatory reports.

Contact: Jamie Huynh
Administrative Coordinator
Plumas Bank
5525 Kietzke Lane Ste. 100
Reno, NV 89511
775.786.0907 x8908
investorrelations@plumasbank.com

Posted in UncategorizedTagged

Farmers and Merchants Bancshares, Inc. Reports Earnings of $5.7 Million or $1.76 Per Share For the Nine Months Ended September 30, 2026

Posted on by Ravi Shankar

HAMPSTEAD, Md., Oct. 22, 2026 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the nine months ended September 30, 2026 was $5.7 million, or $1.76 per common share (basic and diluted), compared to $4.1 million, or $1.28 per common share (basic and diluted), for the same period in 2025. The Company’s annualized return on average assets during the nine months ended September 30, 2026 was 0.88% compared to 0.65% for the same period in 2025. The Company’s annualized return on average equity during the nine months ended September 30, 2026 was 11.58% compared to 9.24% for the same period in 2025.

Net income for the three months ended September 30, 2026 was $2.0 million, or $0.62 per common share (basic and diluted), compared to $1.7 million, or $0.53 per common share (basic and diluted), for the third quarter of 2025. The Company’s annualized return on average assets during the three months ended September 30, 2026 was 0.92% compared to 0.80% for the same period in 2025. The Company’s annualized return on average equity during the three months ended September 30, 2026 was 12.48% compared to 11.23% for the same period in 2025.           

Net interest income for the nine months ended September 30, 2026 was $2.9 million higher when compared to the same period in 2025 due to a widening net yield on interest-earning assets of 3.32% for the nine months ended September 30, 2026 compared to 2.98% for the same period in 2025. The yield on earning assets increased to 5.40% for the nine months ended September 30, 2026, compared to 5.19% for the same period in 2025. The cost of interest bearing liabilities decreased to 2.58% for the nine months ended September 30, 2026, down from 2.70% for the same period in 2025. Average interest earning assets were $837.0 million for the nine months ended September 30, 2026 compared to $804.3 million for the same period in 2025. Gross interest income increased by $2.6 million to $33.7 million for the nine months ended September 30, 2026, up from $31.1 million for the same period in 2025. Average interest bearing liabilities increased by $14.9 million to $672.7 million for the nine months ended September 30, 2026 from $657.8 million for the same period in 2025. Total interest expense decreased slightly to $13.0 million for the nine months ended September 30, 2026 compared to $13.3 million for the same period in 2025.

The Company did not record a provision for credit losses for the nine months ended September 30, 2026. There was a $595 thousand provision recorded for the nine months ended September 30, 2025 which was related to a write down of one loan that was ultimately foreclosed upon.

Noninterest income decreased by $46 thousand for the nine months ended September 30, 2026 when compared to the same period in 2025. The decrease was due to several factors, including the non-recurrence of a gain on the settlement of a fair value hedge of $94 thousand in 2025, a $22 thousand decrease in service charges on deposit accounts, the non-reccurance of a gain on insurance proceeds of $73 thousand, and a $41 thousand decrease in the fair value adjustment of an equity security. These were offset by a $29 thousand increase in mortgage banking revenue, a $74 thousand increase in bank owned life insurance income, an increase in the gain on the sale of SBA loans of $13 thousand, and a $68 thousand increase in other fees and commissions. Noninterest expense was $917 thousand higher for the nine months ended September 30, 2026 when compared to the same period in 2025, due primarily to a $730 thousand increase in salaries and benefits resulting from new staffing additions and incentives. Also contributing to the increase was a $230 thousand combined increase in occupancy and furniture and equipment costs, an increase in ATM and debit card expenses of $86 thousand, and a $160 thousand increase in other expenses. These increases were offset in part by year over year decreases in FDIC assessments of $188 thousand, professional services of $54 thousand, advertising costs of $41 thousand, postage of $5 thousand, and other real estate owned expenses of $1 thousand.

Total assets decreased to $865.4 million at September 30, 2026 from $872.0 million at December 31, 2025. Loans, net of the allowance for credit losses, increased to $655.0 million at September 30, 2026 from $633.1 million at December 31, 2025. Investments in debt securities decreased to $124.0 million at September 30, 2026 from $139.8 million at December 31, 2025. Deposits decreased to $716.0 million at September 30, 2026 from $720.5 million at December 31, 2025.   Total borrowings decreased by $4.6 million to $74.4 million at September 30, 2026, down from $79.0 million at December 31, 2025. The decrease was primarily due to the Company repaying $5.0 million in Federal Home Loan Bank advances.

The book value of the Company’s common stock increased to $20.70 per share at September 30, 2026 from $20.02 per share at December 31, 2025. Book value per share at September 30, 2026 was reflective of the $15.0 million unrealized loss, net of income taxes, on the Bank’s available for sale (“AFS”) securities portfolio as a result of the rise in interest rates since the time of purchase. Changes in the market value of the AFS securities portfolio, net of income taxes, are reflected in the Company’s equity, but are not included in the income statement. The Company’s tangible equity was $60.6 million at September 30, 2026 compared to $57.6 million at December 31, 2025.

Gary A. Harris, President and CEO, commented “Our results through the first nine months of 2026 reflect the progress we’re making across the Bank, with net income increasing 41.2% over the same period last year and loan growth of approximately $33 million year over year. For us, growth is about more than getting bigger. It’s about becoming a better bank for the people and businesses who count on us. That means investing in our team, strengthening our capabilities, and making it easier for customers to do business with us, while preserving the personal relationships that have defined Farmers and Merchants for more than a century.”

About the Company

The Company is the financial holding company for Farmers and Merchants Bank, a Maryland-chartered community bank headquartered in Hampstead, Maryland. Founded in 1919, the Bank has served the deposit, lending, and financial needs of consumers and businesses across Carroll and Baltimore Counties for more than a century. The Bank operates eight locations along Routes 30, 795, 140, 26, and 45 corridors, including offices in Hampstead, Upperco, Owings Mills, Reisterstown, Westminster, Eldersburg, Greenmount, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTCID Basic Market under the symbol “FMFG”. For more information, visit fmb1919.bank.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

FOR FURTHER INFORMATION CONTACT:    
     
Farmers and Merchants Bancshares, Inc. Contact:  Mr. Gary A. Harris
4510 Lower Beckleysville Rd, Suite H   President and Chief Executive Officer
Hampstead, Maryland 21074    (410) 374-1510, ext. 1104
     

Farmers and Merchants Bancshares, Inc. and Subsidiaries
Consolidated Balance Sheets
Dollars in thousands except per share data
 
  September 30,   December 31,
    2026     2025 *
  (Unaudited)    
Assets    
       
Cash and due from banks $ 31,945     $ 46,113  
Federal funds sold and other interest-bearing deposits   803       566  
          Cash and cash equivalents   32,748       46,679  
Certificates of deposit in other banks   100       100  
Securities available for sale, at fair value   103,257       118,730  
Securities held to maturity, at amortized cost less allowance for credit      
  losses of $95 and $79   20,774       21,055  
Equity security, at fair value   538       550  
Restricted stock, at cost   3,475       3,693  
Mortgage loans held for sale   113       714  
Loans, less allowance for credit losses of $4,666 and $4,361   654,965       633,144  
Premises and equipment, net   7,465       7,141  
Accrued interest receivable   2,723       2,535  
Deferred income taxes, net   7,185       6,277  
Other real estate owned, net   1,665       1,673  
Bank owned life insurance   15,656       15,353  
Goodwill and other intangibles, net   7,012       7,018  
Other assets   7,725       7,296  
    Total assets $ 865,401     $ 871,958  
       
Liabilities and Stockholders’ Equity      
       
Deposits      
  Noninterest-bearing $ 126,615     $ 117,098  
  Interest-bearing   589,383       603,361  
          Total deposits   715,998       720,459  
Securities sold under repurchase agreements   4,664       4,317  
Federal Home Loan Bank of Atlanta advances   57,700       62,700  
Long-term debt, net of issuance costs   12,072       12,036  
Accrued interest payable   843       1,278  
Other liabilities   6,545       6,508  
    Total liabilities   797,822       807,298  
Stockholders’ equity      
  Common stock, par value $.01 per share,      
  authorized 5,000,000 shares; issued and outstanding      
  3,263,958 shares in 2026 and 3,229,795 shares in 2025   33       32  
  Additional paid-in capital   32,752       32,148  
  Retained earnings   49,791       45,210  
  Accumulated other comprehensive loss   (14,997 )     (12,730 )
     Total stockholders’ equity   67,579       64,660  
Total liabilities and stockholders’ equity $ 865,401     $ 871,958  
  * Derived from audited consolidated financial statements      
       

Farmers and Merchants Bancshares, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)
Amounts in thousands except per share data
 
  Three Months Ended
September 30,		   Nine Months Ended
September 30,
    2026       2025       2026       2025
               
Interest income              
  Loans, including fees $ 10,078     $ 9,307     $ 29,487     $ 26,572
  Investment securities – taxable   829       1,071       2,472       3,191
  Investment securities – tax exempt   160       157       458       467
  Federal funds sold and other interest earning assets   500       424       1,319       909
          Total interest income   11,567       10,959       33,736       31,139
               
Interest expense              
  Deposits   3,567       4,344       10,489       12,665
  Securities sold under repurchase agreements   10       13       36       42
  Federal Home Loan Bank advances   560       129       1,718       251
  Long-term debt   258       120       774       342
          Total interest expense   4,395       4,606       13,017       13,300
          Net interest income   7,172       6,353       20,719       17,839
               
Provision for credit losses   –       327       –       595
               
          Net interest income after provision for credit losses   7,172       6,026       20,719       17,244
               
Noninterest income              
  Service charges on deposit accounts   174       185       505       527
  Mortgage banking income   50       75       180       151
  Bank owned life insurance income   188       105       390       316
  Fair value adjustment of equity security   (20 )     7       (25 )     16
  Gain on settlement of fair value hedge   –       –       –       94
  Gain on sale of SBA loans   13       –       13       –
  Gain on insurance proceeds, net   –       73       –       73
  Other fees and commissions   115       106       411       343
          Total noninterest income   520       551       1,474       1,520
               
Noninterest expense              
  Salaries   2,471       2,178       6,896       6,576
  Employee benefits   619       573       1,896       1,486
  Occupancy   303       281       967       890
  Furniture and equipment   453       370       1,338       1,185
  Professional services   167       174       511       565
  Automated teller machine and debit card expenses   177       71       493       407
  Federal Deposit Insurance Corporation premiums   96       150       278       466
  Postage, delivery, and armored carrier   68       62       199       204
  Advertising   46       63       152       193
  Other real estate owned expense, net   7       (13 )     57       58
  Other   613       500       1,767       1,607
          Total noninterest expense   5,020       4,409       14,554       13,637
               
Income before income taxes   2,672       2,168       7,639       5,127
Income taxes   647       462       1,893       1,058
Net income $ 2,025     $ 1,706     $ 5,746     $ 4,069
               
Earnings per common share – basic $ 0.62     $ 0.53     $ 1.76     $ 1.28
Earnings per common share – diluted $ 0.62     $ 0.53     $ 1.76     $ 1.28
               

Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Dollars in thousands except per share data
           
  As of or For the Three Months Ended September 30,
    2026       2025       2024  
           
OPERATING DATA          
           
Interest income $ 11,567     $ 10,959     $ 9,847  
Interest expense   4,395       4,606       4,762  
Net interest income   7,172       6,353       5,085  
Provision for (recovery of) credit losses   –       327       –  
Net interest income after provision          
   for (recovery of) credit losses   7,172       6,026       5,085  
Noninterest income   520       551       451  
Noninterest expense   5,020       4,409       4,071  
Income before income taxes   2,672       2,168       1,465  
Income taxes   647       462       342  
Net income $ 2,025     $ 1,706     $ 1,123  
           
PER SHARE DATA          
           
Net income (Basic and diluted) $ 0.62     $ 0.53     $ 0.36  
Dividends $ 0.36     $ 0.34     $ 0.00  
Book value $ 20.70     $ 19.72     $ 18.81  
           
KEY RATIOS          
           
Return on average assets   0.92 %     0.80 %     0.56 %
Return on average equity   12.48 %     11.23 %     8.05 %
Efficiency ratio   65.26 %     67.04 %     73.54 %
Net yield on interest-earning assets   3.42 %     3.15 %     2.62 %
Tier 1 capital leverage ratio   10.05 %     9.29 %     9.42 %
           
Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Dollars in thousands except per share data
           
  As of or For the Three Months Ended September 30,
    2026       2025       2024  
           
AT PERIOD END          
           
Total assets $ 865,401     $ 869,799     $ 817,531  
Gross loans   659,631       626,714       576,512  
Cash and cash equivalents   32,748       52,187       16,842  
Securities   124,031       142,266       179,697  
Deposits   715,998       734,096       673,745  
Long term debt, FRB and FHLB borrowings   69,772       62,224       70,800  
Stockholders’ equity   67,579       63,163       59,162  
           
SELECTED AVERAGE BALANCES          
           
Total assets $ 878,410     $ 857,387     $ 807,493  
Gross loans   648,749       625,431       566,893  
Cash and cash equivalents   51,614       41,735       20,676  
Securities   147,033       162,120       199,915  
Deposits   729,353       761,693       663,594  
Long term debt, FRB and FHLB borrowings   69,732       23,406       74,569  
Stockholders’ equity   64,883       60,751       55,819  
           
ASSET QUALITY          
           
Nonperforming assets $ 3,224     $ 4,049     $ 1,630  
           
Nonperforming assets/total assets   0.37 %     0.47 %     0.20 %
           
Allowance for credit losses/total loans   0.72 %     0.68 %     0.56 %
           

Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Amounts in thousands except per share data
           
  As of or For the Nine Months Ended September 30,
    2026       2025       2024  
           
OPERATING DATA          
           
Interest income $ 33,736     $ 31,139     $ 28,092  
Interest expense   13,017       13,300       12,700  
Net interest income   20,719       17,839       15,392  
Provision for (recovery of) credit losses   –       595       –  
Net interest income after provision          
   for credit losses   20,719       17,244       15,392  
Noninterest income   1,474       1,520       1,329  
Noninterest expense   14,554       13,637       12,307  
Income before income taxes   7,639       5,127       4,414  
Income taxes   1,893       1,058       993  
Net income $ 5,746     $ 4,069     $ 3,421  
           
PER SHARE DATA          
           
Net income (Basic and diluted) $ 1.76     $ 1.28     $ 1.09  
Dividends $ 0.36     $ 0.34     $ 0.33  
Book value $ 20.70     $ 19.72     $ 18.81  
           
KEY RATIOS          
           
Return on average assets   0.88 %     0.65 %     0.57 %
Return on average equity   11.58 %     9.24 %     8.53 %
Efficiency ratio   65.58 %     72.68 %     73.60 %
Net yield on interest-earning assets   3.32 %     2.98 %     2.67 %
Tier 1 capital leverage ratio   10.05 %     9.29 %     9.42 %
           
Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Amounts in thousands except per share data
           
  As of or For the Nine Months Ended September 30,
    2026       2025       2024  
           
AT PERIOD END          
           
Total assets $ 865,401     $ 869,799     $ 817,531  
Gross loans   659,631       626,714       576,512  
Cash and cash equivalents   32,748       52,187       16,842  
Securities   124,031       142,266       179,697  
Deposits   715,998       734,096       673,745  
Long term debt, FRB and FHLB borrowings   69,772       62,224       70,800  
Stockholders’ equity   67,579       63,163       59,162  
           
SELECTED AVERAGE BALANCES          
           
Total assets $ 868,572     $ 833,069     $ 797,367  
Gross loans   640,737       611,727       547,646  
Cash and cash equivalents   45,664       58,423       30,766  
Securities   150,595       165,248       204,353  
Deposits   718,333       743,021       658,105  
Long term debt, FRB and FHLB borrowings   71,638       19,996       72,280  
Stockholders’ equity   66,163       58,745       53,476  
           
ASSET QUALITY          
           
Nonperforming assets $ 3,224     $ 4,049     $ 1,630  
           
Nonperforming assets/total assets   0.37 %     0.47 %     0.20 %
           
Allowance for credit losses/total loans   0.72 %     0.68 %     0.56 %
           

Posted in UncategorizedTagged

BrainChip Unveils AKD1500 SPI Chip, Bringing Neuromorphic AI to Everyday Edge Devices

Posted on by Ravi Shankar

AKD1500 SPI pairs with the microcontroller, opening Akida AI to the high-volume MCU market

LAGUNA HILLS, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) — BrainChip Holdings Ltd. (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), a global leader in ultra-low-power, fully digital, event-based neuromorphic AI, today announced the AKD1500 SPI, expanding its AKD1500 family with a co-processor that brings Akida neuromorphic AI to wearables, smart home devices and other microcontroller-based edge products. Using the SPI interface already found in most microcontrollers, AKD1500 SPI lets device makers add AI with a single chip rather than redesign around a new processor.

AKD1500 SPI’s standout feature is edge learning, enabling devices to learn new words, sounds, users or patterns directly on the chip, without sending data to the cloud or retraining the model. Like every Akida processor, it also runs several AI tasks on one chip.

Alongside the AKD1500 PCIe for M.2 and multi-chip designs, the AKD1500 family lets device makers run the same AI in anything from a smartwatch to a multi-chip edge system with a SPI interface. 

“Our customers demand reflex-like responsiveness and efficiency. They measure every milliwatt and every millisecond,” said Ivan Projić, co-founder and CEO of Neuromorphyx. “On BrainBoard1500 and NeuroReflex, we’ve seen the AKD1500 run neural networks over SPI within the power and size limits of real embedded products.”

Karlo Mikualco, co-founder and CTO of Neuromorphyx, added, “With its SPI interface, the AKD1500 lets teams bring that efficiency, plus on-chip learning, into robotics, industrial and space-grade systems without replacing the host processor they already trust.”

Add AI without replacing the processor

Most everyday devices, such as smartwatches, doorbells and factory sensors, already have a microcontroller, which is built to control the device. Adding AI usually means moving to a larger, more expensive processor and redesigning the entire product.

The AKD1500 SPI avoids that by using SPI, a standard interface most microcontrollers already have, letting device makers add one chip to their existing design. 

The AKD1500 SPI works alongside the MCU as a dedicated AI processor. The MCU controls the device, relaying sensor data to the AKD1500 SPI, which runs the full neural network and sends back the result, such as a recognized word or a detected fault.

Running the model on the device also removes the cloud round trip, including latency, the loss of AI when connectivity drops and the risk of data leaving the product. Voice, sensor and device-health data stay on the device.

“The AKD1500 SPI brings brain-inspired AI into NEXA EEG Glasses, designed for everyday wear,” stated Yazin Al Mandhari, COO at Onsor. “It’s an important step in our work to help people living with epilepsy and their care teams better understand brain activity beyond the clinic.”

Built for the multi-billion-unit microcontroller market

Microcontrollers are among the most widely shipped chips in the world, and until recently almost none of them could learn on-chip once a product shipped. ABI Research forecasts that chipset shipments of TinyML AI, which are lightweight machine learning models deployed directly onto ultra-low-power microcontrollers, will surpass 4.1 billion units by 2031, with dedicated AI processors the fastest-growing part of that segment.

“We built the AKD1500 family around how products are actually designed,” said Steve Brightfield, chief product officer at BrainChip. “The AKD1500 SPI connects to the MCU a team already uses, and the AKD1500 PCIe serves systems that need more performance. Both run the same models with the same tools, so customers can grow without starting over.”

The AKD1500 PCIe serves performance-driven systems and multi-chip designs; the AKD1500 SPI opens the high-volume microcontroller market across consumer, industrial and healthcare products.

The AKD1500 SPI is available now from the BrainChip Shop, its channel partner DigiKey or through sales (sales@brainchip.com).

About BrainChip Holdings Ltd.

BrainChip is the worldwide leader in edge AI on-chip processing and learning. The company’s first-to-market, fully digital, event-based AI processor, Akida™, uses neuromorphic principles to analyze only essential sensor inputs at the point of acquisition, processing data with unmatched efficiency, precision and energy economy. BrainChip’s Sequora™ is an efficient digital AI processor for GenAI and other large models using state-space architectures. BrainChip’s technology is deployed across industries including aerospace, defense, industrial IoT, healthcare, consumer devices, and wearables. Explore more at www.brainchip.com.

Follow BrainChip:

X: https://www.twitter.com/BrainChip_inc

LinkedIn: https://www.linkedin.com/company/7792006

Investor Contact

IR@brainchip.com

Media Contact

Maddie Coe

PRforBrainchip@bospar.com

Posted in UncategorizedTagged

Workhorse Partners with Tristan Fleet Management to Sell and Service All-electric W56 Step Vans in Canada

Posted on by Ravi Shankar

Workhorse’s First Canadian dealer partnership builds on 5 years of selling electric step vans in Canada

Workhorse W56 on Cobblestone Street in Montreal, CA

A Workhorse W56 step-van parked on a cobblestone street in a Montreal, Canada neighborhood
A Workhorse W56 step-van parked on a cobblestone street in a Montreal, Canada neighborhood

DETROIT, Oct. 22, 2026 (GLOBE NEWSWIRE) — Workhorse Group, Inc. (NASDAQ: WKHS) (“Workhorse”), an American Industrial Technology company, today announced it has signed a dealer agreement with Tristan Fleet Management inc. (“Tristan”), to sell and service Workhorse vehicles in Canada. Tristan is a leading Canadian fleet management provider offering truck and trailer sales, parts, repair and maintenance, and 24/7 roadside and towing services. This agreement marks the first Canadian dealer partnership for Workhorse, building on years of electric step van deployments in Canada and underscoring the company’s commitment to Canada as a growth region.

Tristan will offer the full line of Workhorse W56 electric step vans, including Standard Wheelbase (178”) and Extended Wheelbase (208”) models with two battery configurations. With cargo capacity up to 34 cubic meters (1,200 cubic feet), payload capacity up to 4,535 kg (10,000 lbs.), and a nominal range of 240 km (150 miles) per charge with the 210 kWh battery, the W56 lineup gives customers flexibility to choose the configuration that best meets their fleet’s operational needs.

“Canadian fleets need proven electric trucks that deliver on quality and performance in any condition,” said James Griffin, Chief Revenue Officer at Workhorse. “The W56 has already proven itself on this front in real-world fleet service across Canada. Tristan’s strong reputation, its extensive network, and ability to provide around-the-clock roadside support will be extremely valuable as Workhorse continues to grow our presence in the country.”

Workhorse has been selling and supporting electric trucks in Canada since 2021 through its partnership with Purolator, a Canadian-owned leading integrated freight, package and logistics solutions provider. Through this experience, Workhorse has deepened critical insights into how to design, engineer, and support electric trucks in some of the harshest operating environments. Workhorse is an approved supplier within the Canoe cooperative purchasing program, which delivers efficient procurement solutions to municipalities, public sector entities, and registered not-for-profit organizations.

“Our customers have been exploring electrification for some time now. With generous incentives from Écocamionnage, as well as the current extremely high cost of fuel, the business case for going electric has never been stronger,” said Daniel Barbu, Tristan’s Vice President and General Manager. “We’re looking forward to helping Workhorse expand its customer base across Canada and supporting our customers meet their own goals for sustainability and vehicle performance.”

Tristan operates seven maintenance locations, five in Québec (Pierrefonds, Saint-Laurent, Saint-Zotique, Boucherville, and Valleyfield) and two in Ontario. In addition to its fleet services, Tristan is an authorized Vanguard trailer dealer and service center in Québec and a dealer for other major brands including Michelin, Cummins, WABCO and MAXON.

Canadian fleet operators interested in the W56 should contact Tristan directly at 514-316-1112 ext. 112 or visit www.tristanfleet.com.

About Workhorse Group Inc.
Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is an American Industrial Technology company specializing in electrification, high-voltage systems integration, mobility platforms, ruggedized mobile platform manufacturing, distributed energy systems, and deployable industrial infrastructure. We manufacture durable, reliable and high-performing vehicles and infrastructure for mission-critical applications deployed in the world’s most demanding operating environments. More information is available at www.workhorse.com.

About Tristan
Tristan is a fleet management partner and provider offering truck and trailer sales, parts, repair and maintenance, and 24/7 roadside and towing services. With seven maintenance locations in Québec and Ontario, Tristan is an authorized Vanguard trailer dealer and service center in Québec and a dealer for brands including Michelin, Cummins, WABCO and MAXON. Tristan is a woman-owned business. More information is available at www.tristanfleet.com.

Media Relations Contacts:

Workhorse
John Williams, Communications
+1-206-660-5503, john.williams@workhorse.com

ICR, Inc.
workhorse@icrinc.com

Investor Relations Contact:
ir@workhorse.com

Tristan Fleet Management
marketing@tristanfleet.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. These include statements regarding Workhorse’s dealer relationship with Tristan Fleet Management Inc.; anticipated sales, service and support of Workhorse vehicles in Canada; the W56’s expected qualification for, and the availability and amount of, incentives under Québec’s Écocamionnage program; the expected total cost of ownership and operating savings of the W56 compared with gas-powered vehicles; anticipated fleet operator demand for electric vehicles; and Workhorse’s plans to grow its presence in Canada. Some of these statements may be identified by the use of the words “plans”, “expects” or “does not expect”, “estimated”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “targets”, “projects”, “contemplates”, “predicts”, “potential”, “continue”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

Forward-looking statements are based on the opinions and estimates of management of Workhorse as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some factors that could cause actual results to differ include our ability to raise capital to fund our operations and to maintain access to our current debt facilities; our ability to achieve the expected synergies and/or efficiencies from our operations and as a result of the Motiv/Workhorse merger; our ability to reduce the cost to build our vehicles; our ability to hire and retain the workforce needed; the ability of Tristan Fleet Management Inc. to successfully market, sell and service our vehicles in Canada; our ability to obtain or maintain eligibility for government incentive programs, and the continued availability and terms of such programs; trade policies, tariffs and currency fluctuations affecting cross-border sales; changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business, including demand for electric trucks, fuel prices and our cost of production; and our ability to maintain compliance with Nasdaq rules and otherwise maintain our listing of securities on Nasdaq.

Additional information on these and other factors that may cause actual results and Workhorse’s performance to differ materially is included in Workhorse’s periodic reports filed with the SEC, including Workhorse’s Annual Report on Form 10-K for the year ended December 31, 2025 including those factors described under the heading “Risk Factors” therein, and Workhorse’s subsequent Quarterly Reports on Form 10-Q. Copies of Workhorse’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Workhorse. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and Workhorse undertakes no obligation to update or revise the forward-looking statements except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8022a3ad-132a-4c3b-af42-e8061808e1b2

Posted in UncategorizedTagged

Figure Ecosystem Small Business Financing Reaches Two Volume Milestones: First $50 Million Month and First $100 Million Quarter as AI Accelerates Small Business Formation

Posted on by Ravi Shankar
  • Annualized volume in funded loans would place Figure’s collective ecosystem among the top 25 SBA 7(a) lenders by approved dollar volume just 16 months after launch
  • Surpassed 150+ partners, including Lendio, Big Think Capital, SBG

NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) — Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced that its small business financing business hit major volume milestones in September 2026: it funded more than $50 million in September, $135 million in the third quarter, and its annualized volume now exceeds $500 million.

Figure launched its small business financing (“SMB”) vertical in June 2025, extending its blockchain-based infrastructure that has facilitated more than $30 billion of loans, including home equity lines of credit (HELOCs), to serve entrepreneurs. Figure’s1 home equity lines of credit for small businesses benefit from both the blockchain-based infrastructure, including tokenized lien registry, and capital markets liquidity offered to Figure’s flagship HELOC market. Importantly, the small business loans are underwritten and sold in the same fashion as Figure’s other HELOCs, maintaining credit quality but also the homogeneity that has created Figure’s meaningful capital markets liquidity.

Small businesses provide almost half of all jobs in the United States and a similar share of gross domestic product. The number is growing due to an AI-fueled entrepreneurship surge. Americans filed roughly 27 million applications to start a business from 2021 through 2025, about 53% more than the roughly 17.6 million filed in the previous five years, according to Census Bureau data.2 Unfortunately, fewer than half of owners receive the level of credit they seek.

Nearly seven in 10 small business owners say they own their home, making home equity a potential low-cost and accessible source of capital for many. Home equity has more than doubled over the past decade, to $35 trillion in the second quarter of 2026.

Partners embed Figure’s product, often under their own brands, and use Figure’s technology for online applications and closings. Partners maintain their relationships with customers, and Figure provides the loan infrastructure. The financing is built around speed, with approval in as few as five minutes and funding as quick as five days for loans up to $750,000 carrying terms of up to 30 years.

“Small business owners are the backbone of our economy and it’s wonderful to see so many are pursuing expansion or new opportunities. At the same time, headwinds like tariffs, higher fuel costs and squeezed margins are very real. We’re seeing a huge population of owners who are well-qualified borrowers with significant assets who don’t fit the traditional underwriting box, making them an underserved segment and a real opportunity,” said Michael Tannenbaum, CEO of Figure. “We’ve taken a core strength – speed and efficiency in home equity – and through a rapidly growing network of brokers, meet owners’ critical needs. If you placed our network’s funded volume next to the SBA 7(a) rankings as a yardstick, we’d be in the top 25,3 which reflects how eager business owners are to put their home equity to work.”

Figure partners originating home equity lines of credit for business purposes also benefit from the rest of the Figure flywheel, including Prime, Figure’s on-chain vehicle that helps them finance loans, similar to warehouse financing. Figure partner Credibly announced its plan to use Prime in May 2026. Partners can then sell those loans through Figure Connect, a two-sided marketplace where originators sell whole loans to institutional buyers. For example, Newity recently joined Figure’s partner network and plans to use the Figure Connect ecosystem to pair origination support with direct access to capital markets.

“Small business owners need capital that moves at the speed of their business, and we’re always looking for better ways to get it to them,” said Luke LaHaie, Co-CEO, Newity. “Figure’s ecosystem lets us pair strong origination support with direct access to capital markets, and we’re excited to put it to work for the owners we serve.”

Figure’s SMB growth over the past year includes a fast-growing network of 150+ brokers, lending and fintech partners, all with robust loan origination activity.

“Entrepreneurs have always encountered challenges finding financing, and in many ways, it’s become even more difficult in today’s environment even though many have a significant number of assets, simply because their files aren’t cookie-cutter,” said Brock Blake, Co-Founder & CEO of Lendio. “It’s a legacy problem that’s getting worse. Figure’s SMB product gets owners funded quickly, affordably, and fully digitally. It’s grown rapidly because it fills a real gap in the market.”

To learn more, visit: https://www.figure.com/home-equity-line/heloc-for-business/

About Figure

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) is the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets. More than 480 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $30 billion of loans to date, among other products. The fastest growing components are Figure Connect, its credit marketplace, and Figure Prime (formerly Democratized Prime), Figure’s on-chain lend-borrow marketplace. Figure’s ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS.

Figure is the market leader in real-world asset (RWA) tokenization. The company has received AAA ratings from S&P and Moody’s on multiple loan securitizations, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

Figure Lending LLC dba Figure NMLS ID 1717824. 5200 77 Center Drive, Suite 400, Charlotte, NC 28217. (888) 819-6388. For licensing information go to www.nmlsconsumeraccess.org. Equal Opportunity Lender.

Contact
press@figure.com

1 Figure Lending LLC dba Figure originates HELOCs. NMLS ID 1717824.
2 Source: U.S. Census Bureau, Business Formation Statistics, total business applications (seasonally adjusted monthly series summed by calendar year), retrieved from FRED, Federal Reserve Bank of St. Louis (fred.stlouisfed.org/series/BABATOTALSAUS), accessed October 8, 2026. Applications totaled 26.9 million in 2021-2025 versus 17.6 million in 2016-2020, an increase of 52.9%.
3 Source: U.S. Small Business Administration, 7(a)/504 Lender Report, accessed Oct. 1, 2026. SBA ranks lenders by loans approved, not funded; Figure does not make SBA loans, and its figures reflect funded volume. At a $500 million annualized rate, Figure’s funded volume would rank among the top 25 SBA 7(a) lenders by approved dollar volume for fiscal year 2026.

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