Skyline Bankshares, Inc. Announces Third Quarter 2025 Results
Skyline Bankshares, Inc. – the holding company for Skyline National Bank – announced its results of operations for the third quarter of 2025.
The Company recorded net income of $4.1 million, or $0.73 per share, for the quarter ended September 30, 2025,compared to net income of $3.8 million, or $0.68 per share, for the second quarter of 2025 and net income of $1.1 million, or $0.19 per share, for the third quarter of 2024. For the nine months ended September 30, 2025, net income was $11.5 million, or $2.05 per share, compared to net income of $4.9 million, or $0.89 per share, for the nine months ended September 30, 2024. Third quarter 2025 earnings represented an annualized return on average assets (“ROAA”) of 1.25% and an annualized return on average equity (“ROAE”) of 16.13%, compared to 0.37% and 4.82%, respectively, for the same period last year. Excluding merger related expenses of $1.1 million relating to the acquisition of Johnson County Bank (“JCB”), net income would have been $2.0 million, or $0.36 per share, for the third quarter of 2024. This would represent an annualized ROAA and ROAE of 0.70% and 9.06%, respectively, for the third quarter of 2024. Net interest margin (“NIM”) was 4.27% for the third quarter of 2025, compared to 3.78% for the third quarter of 2024.
President and CEO Blake Edwards stated, “We are very pleased with our results for the third quarter and first nine months of 2025. Adjusted net income increased by $5.3 million, or 84.71%, in the nine month comparison when adjusted for nonrecurring, merger related costs. This resulted in an increase in adjusted earnings per share of $0.93. Earnings for the twelve month period ended September 30, 2025 increased to $2.50 per share compared to $1.96 per share for the twelve month period ended June 30, 2025 as merger related costs in the third quarter of 2024 no longer impact the calculation. Solid balance sheet growth has also been a mark of the first nine months of 2025 with total assets growing at an annualized rate of 10% while loans grew at an annualized rate of over 7% and deposits grew at an annualized rate of over 9%.”
Edwards continued, “During the quarter, we increased our semi-annual dividend to $0.27 per share, which represents an increase of 17.39%, when compared to the semi-annual dividend of $0.23 per share paid in the third quarter of 2024. I believe we remain well positioned for growth and success in the future and know that our employees will continue to deliver on our brand promise of being “Always our Best” for our customers each and every day.”