Steele Bancorp Q2 Earnings Surge 189% on Merger Boost, Margin Expansion
STLE has more than doubled off its 52-week low of $21.49 on light trading volume (0.3× avg).
Summary
Driven by the Northumberland merger, Q2 2026 net income reached $5.26 million, up 189% year-over-year. Net interest margin expanded to 4.31%, and the balance sheet was strengthened with a new debt issuance and subordinated debt payoff.
Key Events · Earnings and Guidance · STLE
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Net Income Nearly Triples
Q2 2026 net income reached $5.26 million, a 188.8% increase from $1.82 million in Q2 2025, driven by the Northumberland merger.
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Net Interest Margin Expands
Net interest margin (GAAP) rose to 4.31% from 3.41% a year ago, reflecting higher yields on earning assets and lower cost of funds.
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Balance Sheet Strengthened
Total assets grew to $1.27 billion; a new $7.37 million senior secured debt was issued, while $9.89 million in subordinated debt was paid off.
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Asset Quality Watch
Nonperforming assets increased to $7.37 million (0.80% of loans), though the allowance for credit losses covers 135% of nonperforming assets.
Analysis · STLE · Finance
A standout quarter saw net income nearly triple year-over-year to $5.26 million, as the Northumberland Bancorp merger continued to drive scale. The net interest margin expanded by 90 basis points to 4.31%, underscoring improved profitability. Balance sheet strength was further enhanced by a new $7.37 million senior secured debt issuance and the payoff of subordinated debt, which refined the capital structure. While nonperforming assets edged up to $7.37 million, allowance coverage remains robust at 135%. Trading near its 52-week high, the stock reflects market optimism around the merger integration and earnings trajectory.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, STLE was trading at $43.31 on OTC in the Finance sector, with a market capitalization of approximately $147.5M. The 52-week trading range was $21.49 to $43.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.