Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported growth in both annual and linked-quarter profitability in first quarter 2025. Highlights include:
- Net income of $5.0 million: 23% higher than $4.1 million linked-quarter and 28% higher than $3.9 million year-over-year
- Diluted earnings per share of $1.01: 23% higher than $0.82 linked-quarter and 27% higher than $0.80 in first quarter 2024
- Pre-tax pre-provision income of $7.5 million: 17% higher than $6.4 million linked-quarter and 39% higher than $5.4 million in first quarter 2024
- Revenue of $19.8 million: 3% higher than $19.1 million linked-quarter and 18% higher than $16.7 million in first quarter 2024
- 4% linked-quarter growth and 24% year-over-year growth in net interest income
- 6% linked-quarter growth and 12% year-over-year growth in trust and wealth fees
- Non-interest expenses of $12.3 million: 3% lower linked-quarter and 9% higher year-over-year
- ROAE of 15.9%
- ROAA of 1.1%
Oakworth’s Chairman and CEO Scott Reed stated, “Our strong first quarter results reflect an intense focus on understanding and serving the needs of our clients while ensuring that we are managing our business in a prudent manner. We are growing our balance sheet in a balanced fashion while ensuring that we realize returns on our investments in markets, technology and people.”
Wealth assets increased 6% year-over-year to $2.3 billion. Year-over-year loan growth was 17% (both actual and average) and 3% linked quarter to $1.5 billion. Deposits grew 14% year-over-year (17% on average basis) and 2% linked quarter to $1.6 billion.
At March 31, 2025, Tier 1 Capital was 10.6%, the Total Capital Ratio was 11.7% and the Leverage Ratio was 9.5%.
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About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.
Oakworth has been ranked among American Banker’s “Best Banks to Work for” for the past eight years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth’s 2024 average Net Promoter Score (NPS) was 94 with a commensurate client retention rate of 95%. As of March 31, 2025, Oakworth had $1.8 billion in total assets, $1.5 billion in gross loans, $1.6 billion in deposits and $2.3 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.