First Quarter 2026 Financial Highlights
-- GAAP net income of $111.1 million, or $0.46 per fully diluted share,
compared to $107.6 million and $0.47 in the prior quarter and $94.8
million, or $0.43 per fully diluted share in the prior year quarter
-- GAAP net interest income of $208.6 million, reflecting a GAAP net
interest margin ("NIM") of 4.32% compared to 4.38% in the prior quarter
and 4.19% in the prior year quarter
-- Average total loans held for investment of $11.5 billion, quarterly
increase of $0.1 billion, or 1.2% growth from the prior quarter
-- Average total deposits of $15.5 billion, seasonally higher from last
quarter and an increase of $0.8 billion or 5.2% from prior year quarter
-- Repurchased over 1.3 million shares at an average price of $24.03
-- Return on average assets ("ROAA") of 2.20%
-- Efficiency ratio of 46.3% and efficiency ratio (FTE)1 of 45.7%
JEFFERSON CITY, Mo., April 28, 2026 (GLOBE NEWSWIRE) -- Central Bancompany, Inc. (Nasdaq: CBC) ("Central Bancompany", "the Company", or "CBC"), the bank holding company for The Central Trust Bank (the "Bank"), today announced preliminary financial results for the first quarter 2026.
John "JR" Ross, President and Chief Executive Officer of Central Bancompany, commented "We are pleased to announce solid financial results for the first quarter of 2026. First quarter net income was $111.1 million, or $0.46 per fully diluted share, reflecting a 2.20% ROA and a 46.3% efficiency ratio. We've grown net income by $16.3 million, or 17%, from the first quarter of 2025. We were encouraged by loan growth in the quarter, with ending loans excluding other consumer up nearly 6% annualized quarter-over-quarter. Our teams grew average deposits by $0.8 billion, or 5%, including growth of over $400 million in average noninterest-bearing demand balances from the prior year quarter's balances."
"We reaffirmed our commitment to capital deployment during the quarter by increasing our ordinary quarterly dividend by 118% to $0.12 per share and repurchasing $32 million of our outstanding shares to take advantage of attractive prices and expanded market liquidity," Ross continued. "We were humbled to again be included as one of America's Best Banks by Forbes, as well as being named the best performing U.S. public bank with more than $10 billion in assets by S&P Global Market Intelligence. Recognition from such leading organizations is a direct result of legendary service that our employees provide their customers and our communities, and I would like to thank them for driving a successful start to 2026."
Net Interest Income and Net Interest Margin
The Company reported net interest income of $208.6 million in the first quarter of 2026, reflecting a GAAP net interest margin of 4.32% (4.36% on an FTE basis(1) ). Net interest income increased $19.3 million from the first quarter of 2025, driven by solid underlying average earning asset growth of $1.3 billion, or 7%, resulting from growing deposits, earnings retention and our IPO. These funds have largely been invested in securities and short-term earning assets. From the end of 2025, average earning assets have grown by nearly $1.0 billion. Notably, in the first quarter of 2026, loans grew at an annualized rate of 6% excluding the reduction in other consumer loans. Compared with the first quarter of 2025, the net interest margin grew to 4.32% from 4.19% in the prior year quarter.
Average earning assets for the quarter totaled $19.6 billion, an increase of $1.3 billion, or 7% from the first quarter of 2025, and $0.9 billion or 5% from prior quarter.
Average total loans held for investment were $11.5 billion for the first quarter of 2026, declining slightly by $0.1 billion, or less than 1% from the prior year quarter. During that period of time, indirect consumer lending has been reduced and the consumer leasing portfolio was sold. Excluding other consumer loans, which included both indirect consumer loans and consumer leases, average total loans held for investment increased $0.4 billion or 3% from loan growth spread across a number of categories and markets. Total loans ended the quarter at $11.5 billion, $63 million above the average for the quarter, reflecting continued loan growth momentum.
Average total deposits were $15.5 billion for the first quarter of 2026, an increase of $0.8 billion, or 5% from prior year quarter. The increase from the prior year quarter was driven by higher noninterest bearing deposits, which rose $0.4 billion, or 9%, and non-maturity interest bearing deposits, which were up $0.4 billion or 5%. All significant customer segments reported deposit growth, with commercial deposits up 9% over the prior year quarter.
The 13 basis point increase in the net interest margin from the prior year quarter reflected actions taken to invest short-term earning assets into the securities portfolio and actions taken to reduce the overall cost of deposits commensurate with lower short-term market rates. On a linked quarter basis, the decline in the net interest margin to 4.32% from 4.38% reflected higher levels of deposit funding being invested in short-term earning assets and the securities portfolio, resulting in additional net interest income albeit at a temporarily lower net interest margin on these incremental funds.
(_________________________1) This is a non-GAAP financial measure management believes is helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measure. Further information on this financial measure and a reconciliation to the most comparable GAAP financial measure is provided at the end of this release.
Provision for credit losses
The provision for credit losses was $3.1 million for the first quarter of 2026, an increase of 4.3% from the prior quarter driven primarily by loan growth and net charge-offs of $2.9 million. The allowance for credit losses ended the quarter at $149.9 million, representing 1.30% of loans held for investment and remaining largely consistent with the prior quarter, reflecting stable credit quality trends.
Noninterest income
Total noninterest income was $65.1 million for the first quarter of 2026, an increase of $6.3 million or 10.7% from the prior year quarter, reflecting higher wealth management revenues and a $1.7 million gain, recognized in other income, from the final liquidation of the consumer lease portfolio. Other categories of noninterest income experienced solid growth from the prior year quarter, reflecting healthy underlying customer activity and continued momentum across core fee--based revenue streams, underscoring the durability of these businesses.
Noninterest expense
Noninterest expense totaled $126.6 million for the first quarter of 2026, an increase of $4.4 million from the first quarter 2025. Salaries and benefits expenses increased $4.8 million, or 7%, primarily reflecting higher performance based compensation and regular merit increases. Full-time equivalents were flat to the prior year quarter. Legal and professional fees also rose $1.2 million from the prior year quarter reflecting an increase in technology improvement initiatives and additional costs associated with being a public company.
Other expenses decreased $2.2 million from the prior year quarter across several expense categories. As a result of disciplined expense management and consistent growth in total revenue, our efficiency ratio (FTE)(1) improved to 45.7% for the quarter, compared to 47.0% in the prior quarter and 48.7% in the first quarter of the prior year, underscoring continued operating leverage.
Provision for income taxes
The first quarter 2026 provision for income taxes was $32.9 million, $0.7 million higher than the prior quarter primarily driven by the increase in book income quarter over quarter. The current quarter's effective tax rate of 22.8% is consistent with the effective tax rate for the full-year 2025.
Asset quality
Asset quality remained strong. Nonperforming loans at March 31, 2026 were $52.1 million, or 45 basis points of loans held for investment, up from 43 basis points at the end of the prior year quarter. Net charge-offs were $2.9 million for the quarter, 10 basis points (annualized) of average total loans. Credit costs remained in line with prior quarters.
Delinquent loans at March 31, 2026 were $45.0 million, or 39 basis points of loans held for investment, as compared to 34 basis points at the end of the prior year quarter.
Capital
Capital levels at March 31, 2026 remained very strong. Our CET1 ratio was 28.6% and represented $1.9 billion of excess capital when compared to our long-term CET1 target of 13.5%. The Bank's CET1 ratio was 12.9% at March 31, 2026. The difference in the consolidated capital ratio and the capital ratio at the Bank represents capital that is readily available to be deployed.
Our book value per share at March 31, 2026 was $15.84 per share, whereas our tangible book value was $14.38 per share(1) , of which $6.58 per share represents core tangible book value, with the remaining $7.80 per share attributable to excess capital.
Conference Call and Webcast Information
The Company will host a conference call and webcast at 9:00 a.m. CT on Tuesday, April 28, 2026. The call may include discussion of Company developments, forward-looking statements and other material information about business and financial matters. This press release and a related slide presentation will be accessible on the Company's investor relations website https://investor.centralbank.net. The call can be accessed via this same website or by using the following link: https://edge.media-server.com/mmc/p/jwuqmnmy. A recorded replay of the conference call will be available on the website after the call's completion.
About Central Bancompany, Inc.
Central Bancompany, Inc. is a bank holding company headquartered in Jefferson City, Missouri, with approximately $20.5 billion in assets as of March 31, 2026. Its banking subsidiary, The Central Trust Bank, has been serving businesses and customers since 1902. The bank is built on a strong foundation of people, community service, and technology. The Central Trust Bank is a Missouri state-chartered trust company with banking powers and a Federal Reserve state member bank, serving consumers and businesses in Missouri, Kansas, Oklahoma, Colorado, and Florida. Divisions of The Central Trust Bank include Central Trust Company and Central Investment Advisors.
Non-GAAP Financial Information
In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States ("GAAP") and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures and the nearest comparable GAAP financial measures are reconciled later in this release. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other variations or comparable terminology and expressions. All statements other than statements of historical facts contained in this press release are forward-looking statements. We have based the forward-looking statements contained herein on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in Part I Item 1A - "Risk Factors" and Part II Item 7 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 2025 Annual Report on Form 10-K. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. The forward-looking statements relate only to events as of the date on which the statements are made. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. These forward-looking statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Media Contact: Investor Relations Contact: Dan Westhues Charlie Martin SEVP, Chief Customer Officer Corporate Development Officer Central Bancompany, Inc. Central Bancompany, Inc. dan.westhues@centralbank.net charlie.martin@centralbank.net (573) 634-1281 (314) 686-7007
Current quarter, prior quarter and prior year quarter information is provided on pages 4-7 below.
Central Bancompany, Inc. and Subsidiaries
Quarterly Consolidated Balance Sheets (unaudited)
Q1 Q4 Q1 Q vs PQ Q vs PYQ
FY26 FY25 FY25 $VAR %VAR $VAR %VAR
------------ ------------ ------------ ---------- ---------- ---------- ----------
(dollars in thousands, except per common share data)
Assets
Cash and due from banks $ 190,868 $ 258,588 $ 319,668 $ (67,720) (26.2) % $(128,800) (40.3) %
Short-term earning
assets 1,187,368 1,806,594 1,230,602 (619,226) (34.3) % (43,234) (3.5) %
Investment securities 6,791,275 6,422,352 5,802,740 368,923 5.7 % 988,535 17.0 %
Loans held for
investment:
Construction and
development 512,681 570,749 489,243 (58,068) (10.2) % 23,438 4.8 %
Commercial, financial
& agricultural 1,740,689 1,761,287 1,767,642 (20,598) (1.2) % (26,953) (1.5) %
Non-owner-occupied
commercial real
estate (1) 3,267,008 3,150,269 3,278,281 116,739 3.7 % (11,273) (0.3) %
Owner-occupied
commercial real
estate 1,583,461 1,580,260 1,608,046 3,201 0.2 % (24,585) (1.5) %
---------- ---------- ---------- -------- ----- -------- -----
Commercial real
estate 4,850,469 4,730,529 4,886,327 119,940 2.5 % (35,858) (0.7) %
---------- ---------- ---------- -------- ----- -------- -----
Total commercial
loans 7,103,839 7,062,565 7,143,212 41,274 0.6 % (39,373) (0.6) %
Residential mortgage
loans (2) 3,423,146 3,321,101 3,112,039 102,045 3.1 % 311,107 10.0 %
Home equity lines of
credit 422,737 410,845 357,655 11,892 2.9 % 65,082 18.2 %
Consumer credit card 93,171 98,310 87,669 (5,139) (5.2) % 5,502 6.3 %
Other consumer loans 499,019 551,395 835,039 (52,376) (9.5) % (336,020) (40.2) %
---------- ---------- ---------- -------- ----- -------- -----
Total residential
and consumer
loans 4,438,073 4,381,651 4,392,402 56,422 1.3 % 45,671 1.0 %
---------- ---------- ---------- -------- ----- -------- -----
Total unpaid
principal balance 11,541,912 11,444,216 11,535,614 97,696 0.9 % 6,298 0.1 %
Add: Unearned
income (9,342) (9,611) (23,677) 269 (2.8) % 14,335 (60.5) %
---------- ---------- ---------- -------- ----- -------- -----
Loans held for
investment 11,532,570 11,434,605 11,511,937 97,965 0.9 % 20,633 0.2 %
Less: Allowance for
credit losses (149,889) (149,674) (153,738) (215) 0.1 % 3,849 (2.5) %
---------- ---------- ---------- -------- ----- -------- -----
Net loans 11,382,681 11,284,931 11,358,199 97,750 0.9 % 24,482 0.2 %
Loans held for sale 29,457 54,119 19,856 (24,662) (45.6) % 9,601 48.4 %
Land, buildings, and
equipment, net 221,577 215,931 214,602 5,646 2.6 % 6,975 3.3 %
Goodwill and
intangibles 350,859 351,664 354,084 (805) (0.2) % (3,225) (0.9) %
Other assets 302,286 357,799 284,709 (55,513) (15.5) % 17,577 6.2 %
---------- ---------- ---------- -------- ----- -------- -----
Total assets $20,456,371 $20,751,978 $19,584,460 $(295,607) (1.4) % $ 871,911 4.5 %
========== ========== ========== ======== ===== ======== =====
Liabilities and
Stockholders' Equity
Deposits:
Noninterest-bearing
demand $ 5,563,373 $ 5,615,652 $ 5,335,974 $ (52,279) (0.9) % $ 227,399 4.3 %
Savings and
interest-bearing
demand 8,284,962 8,611,895 8,054,662 (326,933) (3.8) % 230,300 2.9 %
Time 1,617,106 1,635,078 1,682,101 (17,972) (1.1) % (64,995) (3.9) %
---------- ---------- ---------- -------- ----- -------- -----
Total deposits 15,465,441 15,862,625 15,072,737 (397,184) (2.5) % 392,704 2.6 %
Federal funds purchased
and customer
repurchase agreements 1,066,923 1,011,851 1,097,440 55,072 5.4 % (30,517) (2.8) %
---------- ---------- ---------- -------- ----- -------- -----
Total customer
funds 16,532,364 16,874,476 16,170,177 (342,112) (2.0) % 362,187 2.2 %
Other liabilities 125,681 93,525 170,656 32,156 34.4 % (44,975) (26.4) %
---------- ---------- ---------- -------- ----- -------- -----
Total liabilities 16,658,045 16,968,001 16,340,833 (309,956) (1.8) % 317,212 1.9 %
---------- ---------- ---------- -------- ----- -------- -----
Stockholders' equity:
Common equity 3,983,174 3,900,011 3,433,445 83,163 2.1 % 549,729 16.0 %
Accumulated other
comprehensive
(loss) (54,051) (16,872) (90,865) (37,179) 220.4 % 36,814 (40.5) %
Less: Treasury stock (130,797) (99,162) (98,953) (31,635) 31.9 % (31,844) 32.2 %
---------- ---------- ---------- -------- ----- -------- -----
Total
stockholders'
equity 3,798,326 3,783,977 3,243,627 14,349 0.4 % 554,699 17.1 %
---------- ---------- ---------- -------- ----- -------- -----
Total liabilities
and
stockholders'
equity $20,456,371 $20,751,978 $19,584,460 $(295,607) (1.4) % $ 871,911 4.5 %
========== ========== ========== ======== ===== ======== =====
(1) Non-owner occupied commercial real estate loans
updated presentation to include multi-family loans
(2) Residential mortgage loans updated presentation
to include residential construction and development
Central Bancompany, Inc. and Subsidiaries
Quarterly Consolidated Statements of Income (unaudited)
Q1 Q4 Q1 Q vs PQ Q vs PYQ
FY26 FY25 FY25 $VAR %VAR $VAR %VAR
-------- -------- -------- -------- ---------- -------- -----------
(dollars in thousands, except per common share data)
Interest income:
Loans $176,076 $178,961 $176,274 $(2,885) (1.6) % $ (198) (0.1) %
Investment
securities 67,983 64,582 53,405 3,401 5.3 % 14,578 27.3 %
Short-term
earning assets 13,995 11,741 10,530 2,254 19.2 % 3,465 32.9 %
------- ------- ------- ------ ----- ------ ------
Total interest
income 258,054 255,284 240,209 2,770 1.1 % 17,845 7.4 %
Interest expense:
Deposits 43,425 43,133 43,730 292 0.7 % (305) (0.7) %
Federal funds
purchased and
customer
repurchase
agreements 6,012 5,688 7,206 324 5.7 % (1,194) (16.6) %
------- ------- -------
Total interest
expense 49,437 48,821 50,936 616 1.3 % (1,499) (2.9) %
------- ------- ------- ------ ----- ------ ------
Net interest
income 208,617 206,463 189,273 2,154 1.0 % 19,344 10.2 %
------- ------- ------- ------ ----- ------ ------
Provision for
credit losses 3,146 3,016 2,920 130 4.3 % 226 7.7 %
Noninterest
income:
Service charges
and
commissions 14,413 14,553 13,944 (140) (1.0) % 469 3.4 %
Payment services
revenue 16,370 17,063 15,976 (693) (4.1) % 394 2.5 %
Brokerage
services 7,936 7,701 6,714 235 3.1 % 1,222 18.2 %
Fees for
fiduciary
services 14,307 14,214 12,463 93 0.7 % 1,844 14.8 %
Mortgage banking
revenues, net 9,536 9,408 8,727 128 1.4 % 809 9.3 %
Investment
securities
gains, net - - 109 - -- % (109) (100.0) %
Other income 2,526 2,832 855 (306) (10.8) % 1,671 195.4 %
------- ------- ------- ------ ----- ------ ------
Total
noninterest
income 65,088 65,771 58,788 (683) (1.0) % 6,300 10.7 %
Less: Investment
securities
gains, net - - 109 - -- % (109) (100.0) %
------- ------- -------
Total
adjusted
noninterest
income (1) 65,088 65,771 58,679 (683) (1.0) % 6,409 10.9 %
------- ------- ------- ------ ----- ------ ------
Noninterest
expenses:
Salaries and
employee
benefits 76,039 76,799 71,247 (760) (1.0) % 4,792 6.7 %
Net occupancy
and equipment 12,166 12,731 11,847 (565) (4.4) % 319 2.7 %
Computer
software and
maintenance 5,977 5,241 6,056 736 14.0 % (79) (1.3) %
Marketing and
business
development 4,556 5,476 4,959 (920) (16.8) % (403) (8.1) %
Legal and
professional
fees 6,065 5,923 4,878 142 2.4 % 1,187 24.3 %
Bankcard
processing,
rewards and
related cost 7,753 7,595 7,022 158 2.1 % 731 10.4 %
Other expenses 14,060 15,749 16,252 (1,689) (10.7) % (2,192) (13.5) %
------- ------- ------- ------ ----- ------ ------
Total
noninterest
expenses 126,616 129,514 122,261 (2,898) (2.2) % 4,355 3.6 %
------- ------- ------- ------ ----- ------ ------
Income before
income taxes 143,943 139,704 122,880 4,239 3.0 % 21,063 17.1 %
------- ------- ------- ------ ----- ------ ------
Income taxes 32,855 32,113 28,082 742 2.3 % 4,773 17.0 %
------- ------- ------- ------ ----- ------ ------
Net income $111,088 $107,591 $ 94,798 $ 3,497 3.3 % $16,290 17.2 %
======= ======= ======= ====== ===== ====== ======
Less: Investment
securities
gains, net of
taxes - - 83 - -- % (83) (100.0) %
------- ------- -------
Adjusted net
income (1) $111,088 $107,591 $ 94,715 $ 3,497 3.3 % $16,373 17.3 %
======= ======= ======= ====== ===== ====== ======
End of period
shares 239,787 241,106 220,735 (1,319) (0.5) % 19,052 8.6 %
Weighted average
fully diluted
shares 240,637 229,267 219,951 11,370 5.0 % 20,690 9.4 %
Net income per
common share -
diluted $ 0.46 $ 0.47 $ 0.43 $ (0.01) (1.5) % $ 0.03 7.2 %
Adjusted net
income (1) per
common share -
diluted $ 0.46 $ 0.47 $ 0.43 $ (0.01) (1.5) % $ 0.03 7.3 %
Dividends /
share $ 0.120 $ 0.155 $ 0.055 $(0.035) (22.6) % $ 0.065 118.2 %
(1) These are non-GAAP financial measures management
believes are helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measures. Further
information on these financial measures and reconciliations
to the most comparable GAAP financial measures are
provided at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Quarterly Summary of Financial Results
(unaudited)
Q1 Q4 Q1 Q vs PQ Q vs PYQ
FY26 FY25 FY25 $VAR %VAR $VAR %VAR
------------ ------------ ------------ ----------- ---------- ------------ ----------
(dollars in thousands, except per common share data
and other information)
Financial Ratios
(GAAP)
-------------------
Net interest
margin 4.32 % 4.38 % 4.19 % (0.06) % (1.37) % 0.13 % 3.00 %
Return on average
total assets 2.20 % 2.17 % 2.00 % 0.03 % 1.19 % 0.19 % 9.54 %
Return on average
common equity 11.8 % 12.1 % 12.1 % (0.4) % (2.9) % (0.3) % (2.6) %
Fee income ratio 23.8 % 24.2 % 23.7 % (0.4) % (1.6) % 0.1 % 0.3 %
Efficiency ratio 46.3 % 47.6 % 49.3 % (1.3) % (2.8) % (3.0) % (6.1) %
Effective tax
rate 22.8 % 23.0 % 22.9 % (0.2) % (0.7) % -- % (0.1) %
Financial Ratios
(Non-GAAP) (1)
-------------------
Net interest
margin (FTE)
(2) 4.36 % 4.41 % 4.23 % (0.06) % (1.31) % 0.13 % 3.03 %
Adjusted return
on average total
assets 2.20 % 2.17 % 2.00 % 0.03 % 1.19 % 0.19 % 9.63 %
Adjusted return
on average
common equity 11.8 % 12.1 % 12.1 % (0.4) % (2.9) % (0.3) % (2.6) %
Return on average
tangible common
equity 13.0 % 13.5 % 13.7 % (0.5) % (3.8) % (0.7) % (4.8) %
Adjusted return
on average
tangible common
equity 13.0 % 13.5 % 13.7 % (0.5) % (3.8) % (0.7) % (4.8) %
Adjusted fee
income ratio 23.8 % 24.2 % 23.7 % (0.4) % (1.6) % 0.1 % 0.5 %
Efficiency ratio
(FTE) (2) 45.7 % 47.0 % 48.7 % (1.3) % (2.8) % (3.0) % (6.2) %
Net Interest Margin
& Yields
-------------------
Interest-earning
cash yield (2) 3.86 % 4.11 % 4.65 % (0.25) % (6.0) % (0.79) % (17.1) %
Investment
securities yield
(2) 4.23 % 4.19 % 3.79 % 0.04 % 0.9 % 0.44 % 11.7 %
Loan yield (2) 6.24 % 6.27 % 6.20 % (0.03) % (0.5) % 0.04 % 0.7 %
Cost of deposits 1.13 % 1.14 % 1.20 % (0.01) % (0.5) % (0.07) % (5.6) %
Cost of funds 1.21 % 1.21 % 1.30 % -- % (0.1) % (0.10) % (7.3) %
Loan to deposit
ratio 74.8 % 72.4 % 76.5 % 2.3 % 3.2 % (1.7) % (2.3) %
Interest-free
funds ratio 43.4 % 43.1 % 41.1 % 0.3 % 0.7 % 2.3 % 5.5 %
Interest-earning
asset yield (2) 5.38 % 5.45 % 5.36 % (0.07) % (1.3) % 0.02 % 0.4 %
Cost of total
interest-bearing
liabilities 1.81 % 1.82 % 1.92 % (0.01) % (0.7) % (0.11) % (5.7) %
Net interest
spread 3.57 % 3.63 % 3.44 % (0.06) % (1.6) % 0.13 % 3.8 %
Benefit of
interest-free
funds 0.79 % 0.79 % 0.79 % -- % -- % -- % (0.4) %
Net interest
margin (FTE)(1,
2) 4.36 % 4.41 % 4.23 % (0.06) % (1.3) % 0.13 % 3.0 %
Other Information
-------------------
Number of full
service offices 156 155 153 1 0.6 % 3 2.0 %
Full-time
equivalent
employees 2,918 2,905 2,918 13 0.4 % -- -- %
Consolidated
Capital Ratios
-------------------
Tier 1 capital
ratio 28.6 % 28.1 % 24.4 % 0.6 % 2.0 % 4.2 % 17.3 %
Total risk-based
capital ratio 29.9 % 29.3 % 25.7 % 0.6 % 1.9 % 4.2 % 16.3 %
Tier 1 leverage
ratio 17.4 % 17.9 % 15.8 % (0.5) % (2.8) % 1.6 % 10.0 %
Common equity
tier 1 ratio 28.6 % 28.1 % 24.4 % 0.6 % 2.0 % 4.2 % 17.3 %
Total
stockholders'
equity to total
assets 18.6 % 18.2 % 16.6 % 0.3 % 1.8 % 2.0 % 12.1 %
Tangible common
equity to
tangible assets
(non-GAAP)(1) 17.1 % 16.8 % 15.0 % 0.3 % 1.9 % 2.1 % 14.1 %
Risk-weighted
assets $ 12,343 $ 12,403 $ 12,340 $ (60) (0.5) % $ 3 -- %
Book value per
share $ 15.84 $ 15.69 $ 14.69 $ 0.15 0.9 % $ 1.15 7.8 %
Tangible book
value per share
(non-GAAP)(1) $ 14.38 $ 14.24 $ 13.09 $ 0.14 1.0 % $ 1.29 9.8 %
Bank-Level Ratios
-------------------
Tier 1 capital
ratio 12.9 % 12.9 % 13.3 % -- % 0.3 % (0.4) % (3.1) %
Total risk-based
capital ratio 14.1 % 14.1 % 14.6 % -- % 0.3 % (0.4) % (3.0) %
Tier 1 leverage
ratio 7.9 % 8.2 % 8.6 % (0.3) % (3.9) % (0.7) % (8.5) %
Common equity
Tier 1 ratio 12.9 % 12.9 % 13.3 % -- % 0.3 % (0.4) % (3.1) %
(1) These are non-GAAP financial measures management
believes are helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measures. Further
information on these financial measures and reconciliations
to the most comparable GAAP financial measures are
provided at the end of this release.
(2) Fully-tax equivalent basis.
Asset Quality
-------------------
Allowance for
credit losses /
loans held for
investment 1.30 % 1.31 % 1.34 % (0.01) % (0.7) % (0.04) % (2.7) %
Allowance for
credit losses $149,889 $149,674 $153,738 $ 215 0.1 % $(3,849) (2.5) %
Allowance for
unfunded loan
commitments $ 369 $ 349 $ 490 $ 20 5.7 % $ (121) (24.7) %
Allowance for
investment
securities $ 10 $ 10 $ 22 $ -- -- % $ (12) (54.5) %
Nonperforming
loans / loans
held for
investment 0.45 % 0.40 % 0.43 % 0.05 % 12.2 % 0.02 % 5.2 %
Nonperforming
loans $ 52,075 $ 46,006 $ 49,391 $6,069 13.2 % $ 2,684 5.4 %
Nonperforming
commercial
loans $ 23,071 $ 17,245 $ 19,729 $5,826 33.8 % $ 3,342 16.9 %
Nonperforming
consumer
loans $ 29,004 $ 28,761 $ 29,662 $ 243 0.8 % $ (658) (2.2) %
Nonperforming
assets / total
assets 0.27 % 0.25 % 0.28 % 0.02 % 7.0 % (0.02) % (5.5) %
Nonperforming
assets $ 54,823 $ 51,960 $ 55,520 $2,863 5.5 % $ (697) (1.3) %
Net charge-offs /
average loans 0.10 % 0.10 % 0.12 % -- % 3.6 % (0.02) % (15.1) %
Net charge-offs $ 2,910 $ 2,841 $ 3,453 $ 69 2.4 % $ (543) (15.7) %
Commercial net
charge-offs $ 317 $ 770 $ 1,169 $ (453) (58.8) % $ (852) (72.9) %
Consumer net
charge-offs $ 2,593 $ 2,071 $ 2,284 $ 522 25.2 % $ 309 13.5 %
Central Bancompany, Inc. and Subsidiaries
Quarterly Average Consolidated Balance Sheets
(unaudited)
Q1 Q4 Q1 Q vs PQ Q vs PYQ
FY26 FY25 FY25 $VAR %VAR $VAR %VAR
------------ ------------ ------------ --------- ---------- ----------- ----------
(dollars in thousands)
Average Assets
Cash and due from
banks $ 185,128 $ 187,628 $ 188,038 $ (2,500) (1.3) % $ (2,910) (1.5) %
Short-term earning
assets 1,531,094 1,180,781 955,427 350,313 29.7 % 575,667 60.3 %
Investment
securities 6,564,377 6,154,552 5,765,263 409,825 6.7 % 799,114 13.9 %
Loans held for
investment 11,469,527 11,335,992 11,565,417 133,535 1.2 % (95,890) (0.8) %
Less allowance for
credit losses (149,545) (149,126) (153,760) (419) 0.3 % 4,215 (2.7) %
---------- ---------- ---------- ------- ----- --------- -----
Net loans 11,319,982 11,186,866 11,411,657 133,116 1.2 % (91,675) (0.8) %
Loans held for sale 22,274 33,068 17,569 (10,794) (32.6) % 4,705 26.8 %
Land, buildings, and
equipment, net 217,629 216,211 215,867 1,418 0.7 % 1,762 0.8 %
Goodwill and
intangibles 351,380 352,186 354,612 (806) (0.2) % (3,232) (0.9) %
Other assets 321,631 354,945 266,704 (33,314) (9.4) % 54,927 20.6 %
---------- ---------- ---------- ------- ----- --------- -----
Total assets $20,513,495 $19,666,237 $19,175,137 $847,258 4.3 % $1,338,358 7.0 %
========== ========== ========== ======= ===== ========= =====
Average Liabilities
Noninterest-bearing
demand $ 5,512,732 $ 5,375,187 $ 5,074,272 $137,545 2.6 % $ 438,460 8.6 %
Savings and
interest-bearing
demand 8,381,593 7,962,083 8,004,524 419,510 5.3 % 377,069 4.7 %
Time 1,631,224 1,671,731 1,685,989 (40,507) (2.4) % (54,765) (3.2) %
---------- ---------- ---------- ------- ----- --------- -----
Total deposits 15,525,549 15,009,001 14,764,785 516,548 3.4 % 760,764 5.2 %
Federal funds
purchased and
customer
repurchase
agreements 1,072,669 1,004,520 1,084,995 68,149 6.8 % (12,326) (1.1) %
---------- ---------- ---------- ------- ----- --------- -----
Total customer
funds 16,598,218 16,013,521 15,849,780 584,697 3.7 % 748,438 4.7 %
Other liabilities 85,692 129,327 143,694 (43,635) (33.7) % (58,002) (40.4) %
---------- ---------- ---------- ------- ----- --------- -----
Total
liabilities 16,683,910 16,142,848 15,993,474 541,062 3.4 % 690,436 4.3 %
---------- ---------- ---------- ------- ----- --------- -----
Average
Stockholders'
Equity
Common equity 3,957,717 3,650,132 3,405,171 307,585 8.4 % 552,546 16.2 %
Accumulated other
comprehensive loss (24,857) (27,585) (124,265) 2,728 (9.9) % 99,408 (80.0) %
Treasury stock (103,275) (99,158) (99,243) (4,117) 4.2 % (4,032) 4.1 %
---------- ---------- ---------- ------- ----- --------- -----
Total
stockholders'
equity 3,829,585 3,523,389 3,181,663 306,196 8.7 % 647,922 20.4 %
---------- ---------- ---------- ------- ----- --------- -----
Total
liabilities
and
stockholders'
equity $20,513,495 $19,666,237 $19,175,137 $847,258 4.3 % $1,338,358 7.0 %
========== ========== ========== ======= ===== ========= =====
Average
interest-earning
assets $19,587,272 $18,704,393 $18,303,676 $882,879 4.7 % $1,283,596 7.0 %
Average
interest-bearing
liabilities 11,085,486 10,638,334 10,775,508 447,152 4.2 % 309,978 2.9 %
Average
interest-free
funds 8,501,786 8,066,059 7,528,168 435,727 5.4 % 973,618 12.9 %
Non-GAAP Financial Measures Reconciliations
In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.
We disclose net interest income and related ratios and analysis on a fully taxable-equivalent ("FTE") basis, which may be considered non-GAAP financial measures. We believe this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison of net interest income arising from taxable and tax-exempt sources. In addition, certain performance measures, including the efficiency ratio and net interest margin utilize net interest income on a taxable-equivalent basis.
We evaluate our profitability and performance based on adjusted net income, adjusted total revenue, adjusted noninterest income, adjusted fee income and adjusted return on average total assets. We adjust each of these measures to exclude the loss on the expected sale of the consumer loan portfolio in one of our markets and adjustments that resulted from certain investment portfolio repositioning activities during the periods presented that we consider to be outside of the ordinary course of business. We believe this allows investors to assess our net income, total revenue and noninterest income exclusive of the impact of changes outside the ordinary course of business. Similarly, we evaluate our operational efficiency based on tangible noninterest expense and our adjusted efficiency ratio, which excludes the effect of amortization of intangibles (a non-cash expense item) as well as the exclusions mentioned previously in this paragraph, and includes the tax benefit associated with our tax-advantaged loans.
We evaluate our financial condition based on the ratios of our tangible common equity to our tangible assets, tangible book value per share, return and adjusted return on average common equity, and return and adjusted return on average tangible common equity. Our calculation of these ratios allows readers to assess our stockholders' equity, exclusive of the effect of our goodwill and other intangible assets.
Reconciliations for each of these non-GAAP financial measures to the closest GAAP financial measures are included in the tables below. Each of the non-GAAP financial measures presented should be considered in context with our GAAP financial results included in this release.
Central Bancompany, Inc. and Subsidiaries
Quarterly Reconciliation of non-GAAP Measures (unaudited)
Q1 Q4 Q1 Q vs PQ Q vs PYQ
FY26 FY25 FY25 $VAR %VAR $VAR %VAR
--------------- --------------- ---------------- -------------- --------- --------------- -----------
(dollars in thousands, except share and per share
data)
Interest income (FTE), net
interest income (FTE) and
net interest margin (FTE)
Interest income $ 258,054 $ 255,284 $ 240,209 $ 2,770 1.1 % $ 17,845 7.4 %
Add: Tax-equivalent
adjustment (1) 1,804 1,658 1,581 146 8.8 % 223 14.1 %
---------- ---------- ---------- -------- ---- --------- ------
Interest income (FTE)
(non-GAAP) $ 259,858 $ 256,942 $ 241,790 $ 2,916 1.1 % $ 18,068 7.5 %
========== ========== ========== ======== ==== ========= ======
Net interest
income {a} $ 208,617 $ 206,463 $ 189,273 $ 2,154 1.0 % $ 19,344 10.2 %
Add: Tax-equivalent
adjustment (1) 1,804 1,658 1,581 146 8.8 % 223 14.1 %
---------- ---------- ---------- -------- ---- --------- ------
Net interest
income (FTE)
(non-GAAP) {b} $ 210,421 $ 208,121 $ 190,854 $ 2,300 1.1 % $ 19,567 10.3 %
========== ========== ========== ======== ==== ========= ======
Average
interest-earning
assets {c} $19,587,272 $18,704,393 $18,303,676 $ 882,879 4.7 % $1,283,596 7.0 %
{a
Net interest ÷
margin (2) c} 4.32 % 4.38 % 4.19 % (0.06) % (1.4) % 0.13 % 3.0 %
Net interest {b
margin (FTE) ÷
(non-GAAP) (2) c} 4.36 % 4.41 % 4.23 % (0.06) % (1.3) % 0.13 % 3.0 %
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters are presented on an annualized
basis.
Adjusted noninterest
income, adjusted total
revenue and adjusted fee
income ratio
Noninterest income {a} $ 65,088 $ 65,771 $ 58,788 $ (683) (1.0) % $ 6,300 10.7 %
Less: Investment securities
gains, net -- -- 109 -- -- % (109) (100.0) %
---------- ---------- ---------- -------- ---- --------- ------
Adjusted
noninterest
income
(non-GAAP) {b} $ 65,088 $ 65,771 $ 58,679 (683) (1.0) % 6,409 10.9 %
========== ========== ========== ======== ==== ========= ======
Net interest income $ 208,617 $ 206,463 $ 189,273 2,154 1.0 % 19,344 10.2 %
Noninterest income 65,088 65,771 58,788 (683) (1.0) % 6,300 10.7 %
---------- ---------- ---------- -------- ---- --------- ------
Total revenue {c} 273,705 272,234 248,061 1,471 0.5 % 25,644 10.3 %
Less: Investment
securities gains, net -- -- 109 -- -- % (109) (100.0) %
---------- ---------- ---------- -------- ---- --------- ------
Adjusted
total
revenue
(non-GAAP) {d} $ 273,705 $ 272,234 $ 247,952 $ 1,471 0.5 % $ 25,753 10.4 %
========== ========== ========== ======== ==== ========= ======
{a
÷
Fee income ratio c} 23.8 % 24.2 % 23.7 % (0.4) % (1.6) % 0.1 % 0.3 %
Adjusted fee {b
income ratio ÷
(non-GAAP) d} 23.8 % 24.2 % 23.7 % (0.4) % (1.6) % 0.1 % 0.5 %
Tangible noninterest
expense, adjusted total
revenue (FTE) and
efficiency ratio (FTE)
Net interest income $ 208,617 $ 206,463 $ 189,273 $ 2,154 1.0 % $ 19,344 10.2 %
Noninterest income 65,088 65,771 58,788 (683) (1.0) % 6,300 10.7 %
---------- ---------- ---------- -------- ---- --------- ------
Total revenue {a} 273,705 272,234 248,061 1,471 0.5 % 25,644 10.3 %
Less: Investment
securities gains, net -- -- 109 -- -- % (109) -- %
Add: Tax equivalent
adjustment (1) 1,804 1,658 1,581 146 8.8 % 223 14.1 %
---------- ---------- ---------- -------- ---- --------- ------
Adjusted
total
revenue
(FTE)
(non-GAAP) {b} $ 275,509 $ 273,892 $ 249,533 $ 1,617 0.6 % $ 25,976 10.4 %
========== ========== ========== ======== ==== ========= ======
Noninterest
expense {c} $ 126,616 $ 129,514 $ 122,261 $ (2,898) (2.2) % $ 4,355 3.6 %
Less: Amortization of
intangible assets 804 807 807 (3) (0.4) % (3) (0.4) %
---------- ---------- ---------- -------- ---- --------- ------
Tangible
noninterest
expense
(non-GAAP) {d} $ 125,812 $ 128,707 $ 121,454 $ (2,895) (2.2) % $ 4,358 3.6 %
========== ========== ========== ======== ==== ========= ======
{c
÷
Efficiency ratio a} 46.3 % 47.6 % 49.3 % (1.3) % (2.8) % (3.0) % (6.1) %
{d
Efficiency ratio ÷
(FTE) (non-GAAP) b} 45.7 % 47.0 % 48.7 % (1.3) % (2.8) % (3.0) % (6.2) %
(1) Effective marginal tax rate of 23.84% used for
all periods.
Adjusted net income and
adjusted return on average
total assets
Net income {a} $ 111,088 $ 107,591 $ 94,798 $ 3,497 3.3 % $ 16,290 17.2 %
Add: Investment securities
(gains), net of taxes (1) -- -- (83) -- -- % 83 (100.0) %
---------- ---------- ---------- -------- ---- --------- ------
Adjusted net
income
(non-GAAP) {b} $ 111,088 $ 107,591 $ 94,715 $ 3,497 3.3 % $ 16,373 17.3 %
========== ========== ========== ======== ==== ========= ======
Average total
assets {c} $20,513,495 $19,666,237 $19,175,137 $ 847,258 4.3 % $1,338,358 7.0 %
{a
Return on average ÷
total assets (2) c} 2.20 % 2.17 % 2.00 % 0.03 % 1.2 % 0.19 % 9.5 %
Adjusted return on
average total {b
assets (non-GAAP) ÷
(2) c} 2.20 % 2.17 % 2.00 % 0.03 % 1.2 % 0.19 % 9.6 %
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters are presented on an annualized
basis.
Tangible common equity,
tangible book value per
share and tangible common
equity to tangible assets
Total
stockholders'
equity {a} $ 3,798,326 $ 3,783,977 $ 3,243,627 $ 14,349 0.4 % $ 554,699 17.1 %
Less: Goodwill and other
intangible assets 350,859 351,664 354,084 (805) (0.2) % (3,225) (0.9) %
---------- ---------- ---------- -------- ---- --------- ------
Tangible common
equity
(non-GAAP) {b} $ 3,447,467 $ 3,432,313 $ 2,889,543 $ 15,154 0.4 % $ 557,924 19.3 %
========== ========== ========== ======== ==== ========= ======
Total shares of
Class A common
stock
outstanding {c} 239,787 241,106 220,735 (1,319) (0.5) % 19,052 8.6 %
{a
Book value per ÷
share c} $ 15.84 $ 15.69 $ 14.69 $ 0.15 0.9 % $ 1.15 7.8 %
Tangible book {b
value per share ÷
(non-GAAP) c} $ 14.38 $ 14.24 $ 13.09 $ 0.14 1.0 % $ 1.29 9.8 %
Total assets {d} $20,456,371 $20,751,978 $19,584,460 $(295,607) (1.4) % $ 871,911 4.5 %
Less: Goodwill and other
intangible assets 350,859 351,664 354,084 (805) (0.2) % (3,225) (0.9) %
---------- ---------- ---------- -------- ---- --------- ------
Tangible assets
(non-GAAP) {e} $20,105,512 $20,400,314 $19,230,376 $(294,802) (1.4) % $ 875,136 4.6 %
========== ========== ========== ======== ==== ========= ======
Total
stockholders' {a
equity to total ÷
assets d} 18.6 % 18.2 % 16.6 % 0.3 % 1.8 % 2.0 % 12.1 %
Tangible common
equity to {b
tangible assets ÷
(non-GAAP) e} 17.1 % 16.8 % 15.0 % 0.3 % 1.9 % 2.1 % 14.1 %
Tangible net income,
adjusted tangible net
income, average tangible
common equity, adjusted
return on average common
equity, return on average
tangible common equity and
adjusted return on average
tangible common equity
Net income {a} $ 111,088 $ 107,591 $ 94,798 $ 3,497 3.3 % $ 16,290 17.2 %
Add: Amortization of
intangible assets, net of
taxes (1) 612 615 615 (2) (0.4) % (2) (0.4) %
---------- ---------- ---------- -------- ---- --------- ------
Tangible net income
(non-GAAP) 111,700 108,206 95,413 3,495 3.2 % 16,288 17.1 %
Add: Investment
securities (gains), net
of taxes (1) -- -- (83) -- -- % 83 (100.0) %
---------- ---------- ---------- -------- ---- --------- ------
Adjusted
tangible
net income
(non-GAAP) {b} $ 111,700 $ 108,206 $ 95,330 $ 3,495 3.2 % $ 16,371 17.2 %
========== ========== ========== ======== ==== ========= ======
Average common
equity {c} $ 3,829,585 $ 3,523,389 $ 3,181,663 $ 306,196 8.7 % $ 647,922 20.4 %
Less: Average goodwill and
other intangible assets 351,380 352,186 354,612 (806) (0.2) % (3,232) (0.9) %
---------- ---------- ---------- -------- ---- --------- ------
Average tangible
common equity
(non-GAAP) {d} $ 3,478,205 $ 3,171,203 $ 2,827,051 $ 307,002 9.7 % $ 651,154 23.0 %
========== ========== ========== ======== ==== ========= ======
Return on average {a
common equity ÷
(2) c} 11.8 % 12.1 % 12.1 % (0.4) % (2.9) % (0.3) % (2.6) %
Adjusted return on
average common {b
equity (non-GAAP) ÷
(2) c} 11.8 % 12.1 % 12.1 % (0.4) % (2.9) % (0.3) % (2.6) %
Return on average
tangible common {a
equity (non-GAAP) ÷
(2) d} 13.0 % 13.5 % 13.7 % (0.5) % (3.8) % (0.7) % (4.8) %
Adjusted return on
average tangible {b
common equity ÷
(non-GAAP) (2) d} 13.0 % 13.5 % 13.7 % (0.5) % (3.8) % (0.7) % (4.8) %
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters are presented on an annualized
basis.
(END) Dow Jones Newswires
April 28, 2026 08:00 ET (12:00 GMT)