CBK
Commercial BancgroupDDocument history
Earnings documents stored for CBK.
Investor releaseQuarter not tagged2026-04-28Commercial Bancgroup, Inc. Announces Results for the First Quarter 2026
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Commercial Bancgroup, Inc. Announces Results for the First Quarter 2026
HARROGATE, TN / ACCESS Newswire / April 27, 2026 / Commercial Bancgroup, Inc. ("Commercial" or the "Company") (Nasdaq:CBK), the parent company of Commercial Bank (the "Bank"), today announced net income of $9.5 million, or $0.70 per common share, for the first quarter of 2026, compared to net income of $8.7 million, or $0.72 per common share, for the first quarter of 2025. Core (net of any one-time adjustments) net income was 10.0 million, or $0.73 per common share, for the first quarter of 2026, compared to core net income of $8.7 million, or $0.72 per common share, for the first quarter of 2025. Prior to Commercial's initial public offering ("IPO") of it's common stock in October 2025, Commercial had three classes of common stock outstanding: common stock, Class B common stock, and Class C common stock. On September 18, 2025, Commercial's charter was amended and restated. The Company's amended and restated charter provided for, among other things: effective upon the filing of the amended and restated charter, the reclassification and conversion of (i) each outstanding share of Class B common stock into 1.15 shares of common stock and (ii) each outstanding share of Class C common stock into 1.05 shares of common stock (collectively, the "Stock Reclassification"); and effective immediately following the Stock Reclassification, a 250-for-1 forward stock split in respect of the outstanding shares of our common stock (the "Stock Split"). Our financial statements, including earnings per share and book value per share, reflect the stock Reclassification and Stock Split retroactively. Because the IPO occurred after September 30, 2025, the financial impacts of the IPO are reflected for the fourth quarter of 2025 in the financial statements presented in this press release. First Quarter 2026 Performance Highlights: Net income of $9.5 million or $0.70 per common share; Core net income of $10.0 million or $0.73 per common share (see non-GAAP reconciliation) Return on average assets ("ROAA") of 1.66%; Core return on average assets of 1.74% share (see non-GAAP reconciliation) Return on average equity ("ROAE") of 13.22%; Core return on average equity of 13.87% share (see non-GAAP reconciliation) Return on average tangible common equity ("ROATCE") of 13.76%; Core return on average tangible common equity of 14.44% (see non-GAAP reconciliation) Net interest margin of 3.88%,...
Investor releaseQuarter not tagged2026-04-28Commercial Bancgroup, Inc. Announces Quarterly Cash Dividend and Share Repurchase Program
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Commercial Bancgroup, Inc. Announces Quarterly Cash Dividend and Share Repurchase Program
HARROGATE, TN / ACCESS Newswire / April 27, 2026 / Commercial Bancgroup, Inc. ("Commercial") (NASDAQ:CBK), the parent company for Commercial Bank, announced today that on April 27, 2026, the board of directors of Commercial (the "Board") declared a quarterly cash dividend of $0.10 per share of Commercial common stock payable on June 30, 2026, to shareholders of record as of the close of business on June 15, 2026. Commercial also announced that the Board authorized a stock repurchase plan (the "2026 Repurchase Program") pursuant to which Commercial may repurchase, from time to time, up to an aggregate of $10 million of its outstanding common stock. The 2026 Repurchase Program will expire on April 30, 2027, unless extended by the Board. "This stock repurchase authorization highlights our confidence in Commercial's business and our outlook for continued growth," stated Terry L. Lee, Commercial's President and CEO. "We believe the stock repurchase plan is a solid investment for our shareholders and provides us with the opportunity to leverage our strong financial position to improve our earnings per share." Repurchases under the 2026 Repurchase Program may be effected from time to time in the open market, in privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in each case subject to applicable regulatory requirements and other factors that may be considered by Commercial in its sole discretion. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 of the Exchange Act, which would permit shares to be repurchased when Commercial might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. Commercial intends to fund the 2026 Repurchase Program with a combination of cash on hand and cash generated from ongoing operations, and repurchased shares will become authorized but unissued shares. The 2026 Repurchase Program does not obligate Commercial to repurchase any particular amount of common stock and may be extended, modified, amended, suspended or discontinued by the Board at any time. There can be no guarantee as to the exact number or value of shares that will be repurchased by Commercial. The timing and amount of share repurchases under the 2026 Repurchase Program will depend on...
Investor releaseQuarter not tagged2026-04-02Commercial Bancgroup, Inc. Announces Date for First Quarter 2026 Earnings Release
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Commercial Bancgroup, Inc. Announces Date for First Quarter 2026 Earnings Release
HARROGATE, TN / ACCESS Newswire / April 1, 2026 / Commercial Bancgroup, Inc. ("Commercial") (Nasdaq:CBK) announced today details for the release of its financial results for the first quarter of 2026. Commercial plans to issue its earnings release for the first quarter of 2026 on Monday, April 27, 2026, after market close. About Commercial Bancgroup, Inc. and Commercial Bank Commercial Bancgroup, Inc. is a holding company headquartered in Harrogate, Tennessee. Our wholly owned subsidiary, Commercial Bank, is a Tennessee state-chartered bank that offers a suite of traditional consumer and commercial banking products and services to businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. Visit cbtn.com for more information about Commercial Bank and Commercial. Commercial Bank is an FDIC member and Equal Housing Lender. Contacts: Philip J. Metheny Senior Executive Vice President, Chief Financial Officer Commercial Bancgroup, Inc. [email protected] 423-869-5151 Roger Mobley Executive Vice President, Chief Financial Officer Commercial Bank [email protected] 423-869-5151 SOURCE: Commercial Bancgroup, Inc. View the original press release on ACCESS Newswire
Investor releaseQuarter not tagged2026-01-28Commercial Bancgroup Approves First Quarterly Cash Dividend
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Commercial Bancgroup Approves First Quarterly Cash Dividend
HARROGATE, TN / ACCESS Newswire / January 27, 2026 / Commercial Bancgroup, Inc. ("Commercial") (NASDAQ:CBK), the parent company for Commercial Bank, announced that on January 26, 2026, the board of directors of Commercial declared its first quarterly cash dividend of $0.10 per share of Commercial common stock payable on March 31, 2026, to shareholders of record as of the close of business on March 15, 2026. About Commercial Bancgroup, Inc. Commercial Bancgroup, Inc. is a bank holding company headquartered in Harrogate, Tennessee. Through our wholly owned subsidiary, Commercial Bank, a Tennessee state-chartered bank, we offer a suite of traditional consumer and commercial banking products and services to businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. More information about Commercial Bancgroup, Inc. can be found on its website at ir.cbtn.com. Contacts Philip J. Metheny Sr. Executive Vice President, Chief Financial Officer Commercial Bancgroup, Inc. [email protected] 423-869-5151 Ext. 3307 Roger Mobley Executive Vice President, Chief Financial Officer Commercial Bank [email protected] 704-648-0185 Ext. 4118 SOURCE: Commercial Bancgroup, Inc. View the original press release on ACCESS Newswire
Investor releaseQuarter not tagged2026-01-27Commercial Bancgroup, Inc. Announces Results for the Fourth Quarter 2025
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Commercial Bancgroup, Inc. Announces Results for the Fourth Quarter 2025
HARROGATE, TENNESSEE / ACCESS Newswire / January 26, 2026 / Commercial Bancgroup, Inc. ("Commercial" or the "Company") (Nasdaq:CBK), the parent company of Commercial Bank (the "Bank"), today announced net income less non-controlling interest of $9.9 million, or $0.72 per diluted common share, for the fourth quarter of 2025, compared to net income less non-controlling interest of $5.6 million, or $0.46 per diluted common share, for the fourth quarter of 2024. On October 1, 2025, the Company priced its initial public offering (the "IPO") of 7,173,092 shares of its common stock 1,458,343 of which were sold by Commercial and 5,714,758 of which were sold by certain selling shareholders, at a public offering price of $24.00 per share. Prior to September 18, 2025, Commercial had three classes of common stock outstanding: common stock, Class B common stock, and Class C common stock. On September 18, 2025, Commercial's charter was amended and restated. The Company's amended and restated charter provided for, among other things: effective upon the filing of the amended and restated charter, the reclassification and conversion of (i) each outstanding share of Class B common stock into 1.15 shares of common stock and (ii) each outstanding share of Class C common stock into 1.05 shares of common stock (collectively, the "Stock Reclassification"); and effective immediately following the Stock Reclassification, a 250-for-1 forward stock split in respect of the outstanding shares of our common stock (the "Stock Split"). Our financial statements, including earnings per share and book value per share, reflect the stock Reclassification and Stock Split retroactively. Because the IPO occurred after September 30, 2025, the financial impacts of the IPO are reflected for the fourth quarter of 2025 in the financial statements presented in this press release. Fourth Quarter 2025 Performance Highlights: Net income of $9.9 million or $0.72 per diluted share Return on average assets ("ROAA") of 1.76% Return on average equity ("ROAE") of 15.26%; Return on average tangible common equity ("ROATCE") of 15.99% Net interest margin of 4.01%, a decrease of 1 basis points from the third quarter of 2025 Efficiency ratio of 45.24% Gross loans increased $106.3 million during the quarter, or 24% annualized, from the third quarter Book value per share increased $0.78, or 16% annualized, to $20.81 an...
Investor releaseQuarter not tagged2025-10-28Commercial Bancgroup, Inc. Announces Results for Third Quarter 2025
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Commercial Bancgroup, Inc. Announces Results for Third Quarter 2025
HARROGATE, TN / ACCESS Newswire / October 27, 2025 / Commercial Bancgroup, Inc. ("Commercial" or the "Company") (Nasdaq:CBK), the parent company of Commercial Bank (the "Bank"), today announced net income less non-controlling interest of $9.5 million, or $0.77 per diluted common share, for the third quarter of 2025, compared to net income less non-controlling interest of $9.2 million, or $0.74 per diluted common share, for the third quarter of 2024. On October 1, 2025, the Company priced its initial public offering (the "IPO") of 7,173,092 shares of its common stock 1,458,334 of which were sold by Commercial and 5,714,758 of which were sold by certain selling shareholders, at a public offering price of $24.00 per share. Prior to September 18, 2025, Commercial had three classes of common stock outstanding: common stock, Class B common stock, and Class C common stock. On September 18, 2025, Commercial's charter was amended and restated. The Company's amended and restated charter provided for, among other things: effective upon the filing of the amended and restated charter, the reclassification and conversion of (i) each outstanding share of Class B common stock into 1.15 shares of common stock and (ii) each outstanding share of Class C common stock into 1.05 shares of common stock (collectively, the "Stock Reclassification"); and effective immediately following the Stock Reclassification, a 250-for-1 forward stock split in respect of the outstanding shares of our common stock (the "Stock Split"). The Company's common stock began trading on The Nasdaq Stock Market LLC on October 2, 2025, under the ticker symbol "CBK." On October 3, 2025, the Company completed its IPO, from which it received net proceeds of approximately $30.6 million. Commercial used certain of its proceeds from the IPO to repay certain Commercial indebtedness and intends to use other of its proceeds from the IPO to redeem its outstanding subordinated debentures and related trust preferred securities. Our financial statements, including earnings per share and book value per share, reflect the stock Reclassification and Stock Split retroactively. Because the IPO occurred after September 30, 2025, the financial impacts of the IPO are not included in the financial statements presented in this press release. Third quarter 2025 highlights: Net income less non-controlling interest of $9.5 million or...
TranscriptFY2025 Q32025-10-28FY2025 Q3 earnings call transcript
Earnings source - 28 paragraphs
FY2025 Q3 earnings call transcript
Thank you for standing by. At this time, I would like to welcome everyone to the Commercial Bancgroup third quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Terry Lee, President and CEO. You may begin.
Good morning. Thank you for joining us today for our first earnings call, as we successfully completed our public company offering on September 30th, 2025, the last day of the third quarter. I'm Terry Lee, President and CEO, and with me today is Adam Robertson, Chairman, Philip Metheny, our Chief Financial Officer, and Richard Sprinkle, our Chief Credit Officer. Before we begin, I must remind everyone that this call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. For a discussion of these risks and uncertainties, we encourage you to review our full safe harbor statement and cautionary language, including our earnings press release and in our latest SEC filing.
Also, during the call today, we may discuss certain non-GAAP measures. Reconciliation of those measures to the most directly comparable GAAP measure can be found in our earnings release, which is available on our website and filed with the SEC. We're pleased to report the successful completion of our IPO at CBK became a public company on September 30TH, as mentioned earlier. As each of you are aware, the IPO process is an expansive and very time-consuming process that requires a tremendous amount of human resources commitment, coupled with a lot of professional guidance. Even this time, with all this effort directed toward our IPO, CBK has produced another impressive financial performance quarter. This performance demonstrates the depth of our many talented members that understand our core mission, our values, staying focused to produce strong financial results while at the same time working on a once-in-a-lifetime project.
I would like to just review a few of our financial metrics for the first nine months of 2025. Our net income, $27.1 million. That's a 4.9% increase year to date. Return on assets, 1.60%, 1.9% increase. Return on equity is 15.5%, slight decrease over 2024, an 8.5% decrease. Revenue came in at $66.9 million, a 1.9% increase. Our expenses actually fell to $31.9 million, which was an eight basis points reduction. Earnings per share came in at $2.22 per share, a 6.2% increase. Our tangible book value per share, $19.05, that's a 14.5% increase. Our efficiency ratio held strong at 47.6% through the first nine months of 2025. We experienced moderate loan growth year-over-year due to headwinds from some large payoffs we experienced the first half of 2025. These payoffs were from long-term borrowers selling their business.
The loan portfolio activity remains robust, enabling us to keep pace with the loan payoffs. We anticipate a strong loan closing volume for the fourth quarter of 2025, which will more than offset the payoff volume and provide for a moderate growth for the entire fiscal year in 2025. The asset quality remains very strong. Our loan delinquencies are at historical goals of 1.5%-1%, and our total debt ratio is at 2.19%. Looking ahead, we are confident in our strategy and our direction as we move into the public bank space. With our ability to navigate this new opportunity the public market provides for us to continue to grow our franchise, providing long-term value to our shareholders and providing positive experiences for every customer every day. With that, I will now turn the call over to Philip Metheny, our CFO, to provide a more detailed review of our third quarter. Philip?
Thank you, Terry. I would like to provide to highlight our financial metrics for the third quarter 2025 compared to the third quarter 2024. Net income for 2025 was $9.5 million compared to $9.2 million for 2024, for a 3.3% increase. Revenue, we had $22.9 million for a 4.6% increase over the prior year. Our expenses were maintained flat at $10.6 million compared to $10.5 million in the prior year for the third quarter, for just a minor increase of 1%. Earnings per share for the third quarter of 2025 was $0.77 a share, 4% increase over the prior year. Tangible book per share was $19.05, a 14.5% increase over the prior year. Our efficiency ratio remains strong at 46.19% compared to 48.13%, a 4% decrease from the prior year.
ROA for the third quarter of 2025 was 1.69 compared to 1.65 for 2024, a 2.4% increase from the prior year. ROE was 15.76%, a 9% decrease from the prior year.
Terry.
This concludes our prepared remarks. I'll ask the operator to open the call for any questions that the listeners may have.
At this time, I would like to remind everyone, in order to ask a question, press star, then the number one on your telephone keypad. Your first question comes from the line of Brett Rabattin with Hovde Group. Please go ahead.
Hey, guys. Good morning.
Morning.
Morning.
Wanted to start off just, you know, Terry, we've talked about the loan pipeline being strong. You said fourth quarter you expected some solid loan growth. Can you maybe just give us any idea of the magnitude in 4Q and then just what you're growing and what the outlook is, and maybe what payoffs activity you experienced during 3Q?
We didn't have a lot of payoff experience during the third quarter. I think we had one at the very start that concluded. Maybe it actually started, some of it was paid off in the second quarter and finished up in the third quarter. Our loan activity has been really brisk. Our pipeline is really full for fourth quarter closings. We feel confident that we will end the year in a positive from where we started last year. One of the things is one of the customers that paid us off, they all, at the end of every year, drew up a huge line of credit to the tune of about $30 million for distributions to a doctor's group. As a result of that, every year we would have a huge run-up in our outstandings on loans, and then it worked its way down through the first quarter.
We're not going to have that this year. Even not having that, we're still going to end the year positive in loan growth over where we were last year. We won't meet budget, but we'll have a nice loan growth for year-end. That's assuming, of course, the attorneys get everything done, we get everything closed, and those types of things. The pipeline looks good and we've got a lot of closings lined up.
Okay. Great. I know you guys are slightly asset sensitive, you know, and the Fed's possibly going to cut one or two times here at the end of the year. Any thoughts on the margin in 4Q and just, you know, what you guys are seeing on loan and deposit pricing that might either help or hinder the margin?
I think we're more neutral as far as our asset situation right now. We just finished our board report yesterday and we were, for the month of September, to make sure I get my months right here, for the month of September, we were $4.05 in our net interest margin. Our net interest margin is holding strong, a quarter of a basis point. We just got so much flexibility in our balance sheet because we're so short. We can adjust pretty fast to any rates, be it up or down. We just got a lot of flexibility. I think, again, if you look at our historical trends in earnings that we provided through this IPO process, you saw our earnings increase in every rate environment to the extreme that most of us have experienced in our entire lives.
We just got flexibility the way that we manage our balance sheet more to our balance sheet to manage more following the loan portfolio. To do that, we kind of match things up with the loan portfolio and that keeps our spread pretty good. If I'm telling what our spread is going to be, it's going to be $3.75-$3.80 as standard. Right now, it's a little bit over $4. I don't anticipate that changing at all. Deposit pricing, no, we're probably like every other banker. We feel like we probably pay more for some CDs than we should. We're paying like $3.85, I think, right now is the highest CD we've got, but it's only for seven or nine months. Again, keeping that pricing really short in an environment that we're going to see decrease.
We're just, I think we're just in a good spot right now from a balance sheet perspective to react to whatever we need to do and maintain our earnings going forward.
Okay. That's helpful. The last one I wanted to ask was just around M&A. We saw an acquisition in West Tennessee yesterday. I was just curious, I know you're excited about the environment for possibly adding additional bank size scale to your franchise. Any thoughts on how you see the M&A climate environment for you? I know you're looking at deals, but any thoughts on what you're seeing out there?
I really think it's good. I've been able to attend a few meetings where CEOs are at and just general conversation. It's just a positive buzz for us. I think everybody now will begin to recognize us as kind of the only buyer that's in the marketplace for that $500 million-$750 million size bank. We've got a ton of relationships already built throughout the state. I've got a network of CEOs that I talk with constantly, getting a lot of very positive feedback for the opportunities that even they see, even the ones not interested in selling right now, that they see that we've got available to us. There are several that we're kind of looking a little bit at now. Nothing that I can announce officially or seriously, but we never stop looking and we never stop asking.
That's the key to it, don't ever stop looking and don't ever stop asking. Sometimes ones that you don't even anticipate show up on your doorstep.
Okay, that's really helpful. Congrats on the strong profitability in the quarter.
We're really happy with it.
Again, if you would like to ask a question, press star, then the number one on your telephone keypad. If there are no further questions at this time, I will now turn the call back over to Adam Robertson, Chairman of the Board, for closing remarks.
On behalf of the Board of Directors, I'd like to thank you for joining us today and your interest in Commercial Bancgroup. Our focus remains on quality growth, maintaining solid asset quality, and driving consistent earnings performance, even in a challenging rate environment. The Board remains confident in our management team and pursuing opportunities that enhance shareholder value, all while preserving the principles that define our community banking model. I look forward to speaking with you again in the next quarter.
Ladies and gentlemen, that concludes today's call. Thank you all for joining. You may now disconnect.
Investor releaseQuarter not tagged2025-10-21Commercial Bancgroup, Inc. Announces Dates for Third Quarter 2025 Earnings Release and Conference Call
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Commercial Bancgroup, Inc. Announces Dates for Third Quarter 2025 Earnings Release and Conference Call
HARROGATE, TENNESSEE / ACCESS Newswire / October 20, 2025 / Commercial Bancgroup, Inc. ("Commercial") (Nasdaq:CBK) announced today details for the release of its financial results for the third quarter of 2025. Commercial plans to issue its earnings release for the third quarter of 2025 on Monday, October 27, 2025, after market close, and will host a conference call to discuss its third quarter results on Tuesday, October 28, 2025, at 10:00 a.m. Eastern Time. The call will be available via the following link: https://events.q4inc.com/attendee/913670081 To access the interactive teleconference, dial: USA / International - Toll: +1 (646) 307-1963 USA - Toll-Free: (800) 715-9871 Canada - Toronto: (647) 932-3411 Canada - Toll-Free: (800) 715-9871 The conference line call ID is 8389212. A replay of the conference call will be available through November 4, 2025, by dialing (800) 770-2030 and inputting Playback ID: 8389212 followed by the # key. An online replay will be available by selecting "Events and Presentations" under "News and Events" within the Investor Relations section of Commercial's website, https://ir.cbtn.com/overview/default.aspx, approximately two hours after the conclusion of the call and will remain available through November 24, 2025. About Commercial Bancgroup, Inc. Commercial Bancgroup, Inc. is a bank holding company headquartered in Harrogate, Tennessee. Through our wholly owned subsidiary, Commercial Bank, a Tennessee state-chartered commercial bank, we offer a suite of traditional consumer and commercial banking products and services to businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee. More information about Commercial can be found on its website at www.cbtn.com. Contacts: Philip J. Metheny Executive Vice President, Chief Financial Officer Commercial Bancgroup, Inc. [email protected] 423-869-5151 Ext. 3307 Roger Mobley Executive Vice President, Assistant Chief Financial Officer Commercial Bancgroup, Inc. [email protected] 704-648-0185 Ext. 4118 SOURCE: Commercial Bancgroup, Inc. View the original press release on ACCESS Newswire