Security Midwest Bancorp Q2 FY26 net income rises 11.6% to 390,000 - SBMW News | RalliesSecurity Midwest Bancorp Q2 FY26 net income rises 11.6% to 390,000
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SBMW• Loans and deposits
- Loans, net increased 15.7% to 136.3 million since Dec. 31, while deposits declined 6.1% to 184.4 million.
Interest expense and noninterest income
- Total interest expense climbed 62.2% to 887,000, driven by 328,000 higher borrowing costs tied to FHLB advances.
- Noninterest income fell 16.6% to 418,000, as deposit service fees dropped on a new cannabis-related business fee structure.
Q2 net income and net interest income rise
- Security Midwest Bancorp posted Q2 net income of 390,000, up 11.6% from a year earlier.
- Net interest income rose 21.8% to 2.33 million, lifting net interest margin 2 basis points to 4.02%.
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