Lake Ridge Bancorp, Inc. Reports Second Quarter 2026 Earnings of $4.36 Per Share

LRBI's second quarter 2026 operating results reflected strong net interest income and steady noninterest income primarily from Wealth Management services.

"Our dedicated team of community bankers, wealth managers, trust officers, and other financial professionals have continued to successfully execute our strategic direction and fulfill our mission of building prosperous communities, one relationship at a time," said Jim Tubbs, Lake Ridge Bank's Chief Executive Officer. "These strong financial results validate the win-win approach of our community banking model, which prioritizes strong relationships and personalized service paired with modern technologies and community-minded product offerings."

Quarter Ended June 30, 2026 – Financial Highlights

• Net interest income increased to $26.3 million for the quarter ended June 30, 2026, compared to $24.9 million for the first quarter ended March 31, 2026. This increase was due to repricing of loans at higher current rates along with increases in fed funds sold and securities balances.
• Noninterest income increased to $5.3 million, compared to $5.0 million for the quarter ended March 31, 2026, primarily driven by increases in Wealth Management and interchange income.
• Noninterest expense decreased slightly to $20.1 million for the second quarter of 2026, compared to $20.2 million for the first quarter of 2026, primarily driven by slightly lower employee expenses.
• Net loans increased $43.1 million, or 1.8%, to $2.42 billion as of June 30, 2026, compared to $2.38 billion as of December 31, 2025, due to increases in commercial real estate lending.
• Non-performing loans are $9.3 million, and as a percentage of total loans are 0.38% of total loans, compared to 0.40% in the prior quarter and 0.47% as of December 31, 2025.
• Total deposits increased $71.2 million as of June 30, 2026, to $2.78 billion compared to $2.71 billion as of December 31, 2025. This increase is the result of increases in interest-bearing checking and money market accounts.
• Book value per common share increased to $158.21, an increase of $4.70 per share from the prior quarter and a $6.08 per share increase since December 31, 2025.  This represents a 4.0% increase since December 31, 2025.
• Tangible book value per common share increased to $135.41, an increase of $5.50 per share from the prior quarter and a $7.71 per share increase since December 31, 2025.  This represents a 6.0% increase since December 31, 2025.

For more information, Lake Ridge Bancorp, Inc.'s financial statement can be found at www.otcmarkets.com under LRBI. Learn more about the benefits of being an LRBI shareholder by visiting www.lakeridge.bank/lrbancorp/ .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Such factors include economic conditions, interest rate changes, government policy, execution of strategic initiatives, potential merger and acquisition activity, and global economic instability. Forward-looking statements speak only as of the date made, and LRBI undertakes no obligation to update them.

Lake Ridge Bank's mission is to "build prosperous communities, one relationship at a time." For more than 100 years, this has meant getting to know each of our clients to offer personalized services to meet their specific financial goals. Lake Ridge Bank offers a full line of financial products and services. We focus on offering products and services to make your banking easy. Our business banking and mortgage lenders are trusted leaders in their field with the expertise to provide the right loan at a competitive rate for our clients. As a community bank, we are dedicated to reinvesting in, and making our communities great places to live, work and raise a family. Visit lakeridge.bank to learn more about how we can help you.

Lake Ridge Bank. Go Far. Go Together!

Member FDIC | Equal Housing Lender

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SOURCE Lake Ridge Bancorp, Inc.