White River Bancshares posts record first-quarter earnings
by April 15, 2025 1:21 pm 407 views
Fayetteville-based White River Bancshares Co., the holding company for Signature Bank of Arkansas, posted a 416.4% earnings increase in the first quarter as loan growth contributed to a rise in net interest income.
On Tuesday (April 15), the company reported net income increased to $2.62 million, or $1.07 per share, in the first quarter from $509,228, or 26 cents per share, in the same period last year.
“Thanks to a solid start to the year, we produced the strongest first-quarter earnings in our bank’s history,” said Gary Head, chairman and CEO. “Loan portfolio growth contributed to an increase in net interest income compared to the first quarter of 2024. This is exactly the kind of excitement I’ve been ‘banking on’ as we head into the second quarter and celebrate the bank’s 20-year anniversary. I am confident in our team’s capability and enthusiasm to build upon this momentum for the rest of the year.”
Chief Strategy Officer Scott Sandlin said deposit growth is key to the bank’s strategy of loan growth. Deposits were up 9.9% during the first quarter of 2025, and are up almost 19% year over year.
“Expanding our deposit base to fund new loan growth remains our top priority and also our biggest challenge as a community bank,” Sandlin said. “The company has made deposit gathering the primary focus, and our team has done an excellent job of expanding existing client relationships as well as attracting new customers to the bank. … We will continue to look for additional opportunities for growing deposits in the year ahead to keep up with loan demand.”
Following are first-quarter metrics compared to the same period last year.
- Total interest income rose to $19.8 million from $16.02 million.
- Total deposits increased to $1.2 billion from $1.01 billion.
- Loans rose to $1.14 billion from $981.82 million.
- Total assets rose to $1.37 billion from $1.17 billion.
- Return on average assets rose to 0.79% from 0.18%.
- Return on average equity rose to 10.64% from 2.52%.
The bank has 10 locations, including three in Washington County, three in Benton County, two in Monroe County, one in Boone County, and one in Craighead County.
Shares of White River Bancshares (OTCQX: WRIV) were trading Tuesday (April 15) at $39.50, flat from Monday (April 14). In the past 52 weeks, the stock has ranged from $26.50 to $57.11.