People's Bank of Commerce Q2 FY26 net income falls 16.88% to $2.2 million

Reuters2026/07/23 00:40

By:Reuters

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People's Bank of Commerce posted Q2 2026 net income of $2.2 million, down 16.9% from Q1; diluted EPS fell to $0.43 from $0.52.
Return on average assets eased to 1.14% from 1.37%, while net interest margin was steady at 4.2% versus 4.21%.
Noninterest income rose $402,000 to $2.6 million, driven by a 30.5% increase in Steelhead Finance factoring revenue to $1.84 million.
Noninterest expense increased $445,000 to $6.2 million, including a $170,000 one-time write-off tied to a non-performing vendor contract.
Entered a definitive merger agreement with Northrim BanCorp on July 22, 2026; tangible book value per share climbed 2.4% to $19.03.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. People's Bank of Commerce published the original content used to generate this news brief via Business Wire (Ref. ID: 202607222040BIZWIRE_USPR_____20260722_BW246851) on July 23, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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People's Bank of Commerce Q2 FY26 net income falls 16.88% to $2.2 million

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