Business
Mission Bancorp Reports First Quarter Earnings of $7.7 Million, a 7% Increase Year Over Year, and Annual Loan Growth of 14.5%. Announces Extension of Stock Repurchase Plan and Declares 5.00% Annual Stock Dividend.
Mission Bancorp Reports First Quarter Earnings of $7.7 Million, a 7% Increase Year Over Year, and Annual Loan Growth of 14.5%. Announces Extension of Stock Repurchase Plan and Declares 5.00% Annual Stock Dividend..
About this update from Mission Bancorp
[{"type":"text","content":"\r\n\r\n \r\n \r\n Mission Bancorp Reports First Quarter Earnings of $7.7 Million, a 7% Increase Year Over Year, and Annual Loan Growth of 14.5%. Announces Extension of Stock Repurchase Plan and Declares 5.00% Annual Stock Dividend.\r\n \r\n \r\n\r\n\r\nMission Bancorp Reports First Quarter Earnings of $7.7 Million, a 7% Increase Year Over Year, and Annual Loan Growth of 14.5%. Announces Extension of Stock Repurchase Plan and Declares 5.00% Annual Stock Dividend.\r\n\r\n\r\n\r\n\r\n\r\n\r\nBAKERSFIELD, Calif., April 27, 2026 /PRNewswire/ -- Mission Bancorp (\"Mission\" or the \"Company\") (OTC Pink: MSBC), a bank holding company and parent of Mission Bank (the \"Bank\"), reported unaudited net income available to common shareholders of $7.7 million, or $2.58 per diluted common share, for the first quarter of 2026, compared to net income available to common shareholders of $7.2 million, or $2.41 per diluted common share, for the first quarter of 2025, and net income available to common shareholders of $8.2 million, or $2.74 per diluted common share, for the linked quarter.\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\"Mission Bank is proud to report solid first quarter results with net income of $7.7 million, a 7% increase year over year, and annual loan growth of 14.5%.\" says Mission Bank President and CEO A.J. Antongiovanni. \"Our strategy of focusing on the highest quality of business in each of our markets continues to pay off with strong loan growth and modest deposit growth leading to moderate net interest margin expansion despite challenging times.  We are excited for new opportunities in the second quarter as we open a lending and deposit production center in North San Luis Obispo County and a Business Banking Center in Westlake Village. Our superior service and relationship-driven business model has proved successful at scale, and we are looking forward to deepening our relationships in every community we serve.\"\r\n First Quarter 2026 Financial Highlights\r\n \r\n Gross loans increased by $188.9 million, or 14.5%, to $1.49 billion as of March 31, 2026, compared to $1.30 billion as of March 31, 2025, and increased by $27.0 million, or 1.8%, compared to December 31, 2025, balances.\r\n Total deposits increased by $15.8 million, or 1.0%, to $1.67 billion as of March 31, 2026, compared to $1.65 billion a year earlier, and ...