Benchmark Bankshares reported third-quarter earnings of $5.7 million, or $1.29 per share, up from $5.3 million a year earlier, as the holding company expanded its loan portfolio and grew net interest income across central Southside Virginia and northern North Carolina.
Net income for the first nine months of 2026 reached $17.4 million, or $3.90 per share, compared with $14.6 million, or $3.28 per share, over the same period in 2025, according to unaudited results announced by Benchmark Bankshares Inc. (BMBN). Quarterly revenue totaled $18.56 million for the period ending September 30, according to data compiled by MarketBeat.
- Earnings per common share increased 18.8% for the nine-month period, moving from $3.28 to $3.90.
- Total loans held for investment climbed to $1.2 billion, reflecting a 3.4% increase from December 31, 2025.
- Net interest margin expanded to 4.81%, up from 4.66% recorded in the prior year period.
Total deposits remained stable at $1.2 billion as of September 30, ticking up 0.1% from the close of 2025 to maintain a steady funding base for balance sheet expansion. Quarterly average earning assets reached $1.3 billion for the third quarter of 2026, representing an 8.3% increase compared to the third quarter of 2025.
Net interest income grew by $5.6 million, or 13.5%, reaching $47.2 million for the first nine months of the year. Total interest income rose by $5.3 million while total interest expense decreased by $270,000 over the same comparative timeframe.
The provision for credit losses dropped sharply to $185,000 for the first nine months of 2026, down from $991,000 during the first nine months of 2025. This reduction stemmed primarily from moderated loan growth and higher net charge-offs recorded in early 2025. The allowance for credit losses on loans stood at 0.75% of total loans at the end of September.
Non-performing assets rose to 0.36% of total assets as of September 30, up from 0.16% at the end of June. The Kenbridge-based institution said that this increase stemmed primarily from a single large commercial relationship that remains well secured and is currently undergoing collection proceedings.
Salaries and benefits expenses increased $1.9 million, or 11.7%, to $17.9 million for the nine-month period. Management attributed the rise to higher health insurance premiums, expanded staffing to support branch operations, and lower position vacancy rates across its 19 banking offices.
| Financial Metric | 9 Months Ended Sept. 30, 2026 | 9 Months Ended Sept. 30, 2025 |
|---|---|---|
| Net Income | $17.4 million | $14.6 million |
| Earnings Per Share (EPS) | $3.90 | $3.28 |
| Net Interest Income | $47.2 million | $41.6 million |
| Return on Average Equity | 17.16% | 16.76% |
| Return on Average Assets | 1.66% | 1.54% |
Shareholders’ equity, net of unrealized gains and losses on investment securities, reached $139.1 million at the end of September, marking a 9.6% increase over the $126.9 million balance recorded at the end of 2025. All capital ratios exceeded regulatory requirements for a well-capitalized institution under Basel III guidelines.
Book value per share rose to $31.25, compared to $27.70 at the close of the prior year period. The common stock of Benchmark Bankshares closed the quarter at $43.50 per share, representing 139.2% of its book value on the OTC Pink marketplace.
Founded in 1971 as the holding company for Benchmark Community Bank, the institution operates 19 branch locations throughout the region.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
