Earnings ·
Steele Bancorp reports Q3 net income of $5.46M, down 60% from prior year
STLESteele Bancorp Inc
Steele Bancorp reported third-quarter 2026 net income of $5.46 million, a 60.1% decrease from the $13.68 million recorded in the same period last year. Earnings per share fell to $1.60 from $4.77. The decline was primarily driven by the absence of a $17.83 million bargain purchase gain recognized during the 2025 merger with Northumberland Bancorp, as well as higher income tax provisions. Net interest income rose 38.1% to $13.63 million due to loan and securities growth, while noninterest expense decreased 25.4% to $8.12 million following the elimination of one-time merger costs. The company operates in the banking industry as a bank holding company serving Pennsylvania counties.