Business
KS Bancorp, Inc. (KSBI) Reports 41% Year to Date Increase in Net Income and Expands Footprint into Nash County, North Carolina
SMITHFIELD, NC / ACCESS Newswire / July 23, 2025 / KS Bancorp, Inc. (the "Company") (OTCID:KSBI), parent company of KS Bank, Inc. (the "Bank"), announced unaudited results for the second quarter of 2025. The Company reported net income of $2.2 million ...
About this update from K S Bancorp, Inc.
[{"type":"text","content":"SMITHFIELD, NC / ACCESS Newswire / July 23, 2025 / KS Bancorp, Inc. (the "Company") (OTCID:KSBI), parent company of KS Bank, Inc. (the "Bank"), announced unaudited results for the second quarter of 2025.","length":223,"tagName":"p"},{"type":"text","content":"The Company reported net income of $2.2 million or $2.02 per diluted share for the three months ended June 30, 2025, compared to net income of $1.7 million or $1.50 per diluted share for the three months ended June 30, 2024. This signifies a 35% increase in net income. Year-to-date net income was $4.3 million or $3.89 per diluted share, compared to $3.1 million, or $2.75 per diluted share, for the six months ended June 30, 2024. This signifies a 41% increase in net income year to date.","length":490,"tagName":"p"},{"type":"text","content":"Net interest income before the provision for credit losses for the three months ended June 30, 2025, increased 22.8%. It was $6.9 million, compared to $5.5 million at June 30, 2024. Non-interest income for the three months ended June 30, 2025, was $1.1 million, compared to $863,000 for the comparable period ended June 30, 2024. Non-interest expense was $4.7 million for the three months ended June 30, 2025, compared to $4.1 million in the comparable period in 2024.","length":468,"tagName":"p"},{"type":"text","content":"For the six months ending June 30, 2025, net interest income before the provision for credit losses was $13.2 million, compared to $10.6 million for the six months ending June 30, 2024, which was a 28.7% increase. Non-interest income was $2.0 million for the six months ending June 30, 2025, compared to $1.7 million for the same period ended June 30, 2024. For the six months ended June 30, 2025, non-interest expenses were $9.0 million, compared to $8.1 million for the same period ending June 30, 2024.","length":505,"tagName":"p"},{"type":"text","content":"The Company's unaudited consolidated total assets increased by $36.4 million to $727.3 million as of June 30, 2025, compared to $690.9 million as of December 31, 2024. Net loan balances increased by $33.4 million to $587.9 million on June 30, 2025, compared to $554.5 million on December 31, 2024. The Company's investment securities totaled $94.5 million as of June 30, 2025, compared to $95.9 million as of December 31, 2024. Total deposits increased...