Kish Bancorp, Inc. (OTCQX: KISB) (“Kish” or the “Company”), parent company of Kish Bank, reported net income of $5.3 million, or $1.76 per share, for the first quarter of 2026, compared to $5.5 million, or $1.84 per share, for the fourth quarter of 2025, and $3.6 million, or $1.21 per share, for the first quarter of 2025. Results for the first quarter of 2026 included an $845 thousand provision for credit losses, compared to a $393 thousand provision expense in the fourth quarter of 2025, and a $159 thousand provision expense in the first quarter of 2025. All results are unaudited.

“The first quarter was a solid start to the year, shaped by the strength of our client relationships and the disciplined execution of our team,” stated William P. Hayes, Executive Chairman. “Earnings remained strong, supported by net interest margin expansion, a diversified revenue base, and ongoing attention to expense management in an environment that continues to present both opportunity and uncertainty. Deposit growth was a highlight of the quarter, while loan growth was more measured, a reflection of our continued discipline around pricing and credit quality. We remain focused on executing our strategy thoughtfully and are optimistic about sustaining the strong earnings momentum reflected in the 47% year-over-year gain.”

“The work we have done as an organization is reflected in what matters most: the experience we deliver to customers and the performance we generate for shareholders,” said Gregory T. Hayes, President and CEO. “We have built a banking platform that is faster, more responsive, and digitally capable, while staying true to what defines us as a community bank. The efficiency gains we have realized are flowing through to our bottom line, and expansion into new markets continues to broaden our earnings base.”

First Quarter 2026 Financial Highlights:

• Net income increased 46.6% to $5.3 million, or $1.76 per share, for the first quarter of 2026, compared to $3.6 million, or $1.21 per share, for the first quarter of 2025.
• Total assets increased $209.9 million, or 11.8%, to $1.98 billion at March 31, 2026, compared to $1.77 billion a year ago.
• Total loans grew by $214.0 million, or 14.3%, year over year to $1.71 billion, compared to $1.50 billion a year ago.
• Total deposits increased $216.7 million year over year, or 16.7%, to $1.51 billion, as a broadening customer base and expansion into new markets continue to fuel deposit growth.
• First quarter net interest income, before provision, increased $2.9 million, or 22.3%, compared to the first quarter a year ago.
• First quarter provision for credit losses increased to $845 thousand, compared to $159 thousand in the first quarter a year ago.
• Noninterest income increased $549 thousand, or 17.8%, compared to the year ago quarter.
• First quarter net interest margin expanded 17 basis points from the first quarter a year ago to 3.43%.
• Continued strong first quarter ROE reached 15.73% accompanied by ROA of 1.08%.
• Tangible book value per share increased 16.0% to $41.35, compared to $35.65 a year ago.
• Paid a $0.40 per share quarterly cash dividend on January 30, 2026, to shareholders of record as of January 15, 2026.
• At March 31, 2026, Kish Bank continued to exceed regulatory well-capitalized requirements with a Tier 1 leverage ratio of 8.88%, a Tier 1 capital ratio of 10.21%, and a Total risk-based capital ratio of 10.99% supported by capital expansion fueled by strong growth in retained earnings.

Balance Sheet

“The pace of loan growth normalized during the first quarter, with linked-quarter growth coming in at 0.6%, a reflection of both elevated payoff activity and a deliberate decision to hold our margin rather than compete on rate,” said President and CEO Hayes. “On a year-over-year basis, total loans outstanding were up $214.0 million, or 14.3%, a testament to the momentum built over the past year. Loan growth was broad-based, with multiple categories contributing meaningfully to the overall expansion of the portfolio. The most notable contributions were from 1-4 family residential loans, which increased by $64.8 million, or 16.7%; multifamily loans, which increased by $38.9 million, or 15.5%; and nonfarm nonresidential loans, which grew by $98.4 million, or 27.7%, compared to a year ago.”

Total assets ended the quarter at $1.98 billion, an increase of $209.9 million, or 11.8%, compared to $1.77 billion as of March 31, 2025. Investment securities increased to $166.1 million, an increase of $1.8 million from March 31, 2025. Average earning assets increased to $1.88 billion in the first quarter of 2026, compared to $1.63 billion in the first quarter of 2025. The average yield on interest-earning assets was 5.93% in the first quarter of 2025, down six basis points from 5.99% in the first quarter a year ago.

Total deposits grew by $216.7 million year over year to $1.51 billion, an increase of 16.7% from $1.30 billion a year ago. At March 31, 2026, noninterest-bearing demand deposit accounts increased 19.4% compared to a year ago, while interest-bearing deposits increased 16.3% compared to a year ago. Brokered deposits decreased $10.3 million from the preceding quarter to $121.5 million at March 31, 2026. The cost of total deposits improved to 2.31% in the first quarter of 2026, compared to 2.41% in the fourth quarter of 2025, and 2.57% in the first quarter of 2025.

Stockholders’ equity increased 16.8% to $128.6 million at March 31, 2026, compared to $110.0 million a year earlier. At March 31, 2026, the Company’s tangible book value increased 16.0% to $41.35 per share, compared to $35.65 at March 31, 2025.

Kish Bank continues to maintain capital levels in excess of the requirements to be categorized as “well-capitalized” with a Tier 1 leverage ratio of 8.88%, a Tier 1 capital ratio of 10.21%, and a Total capital ratio of 10.99% at March 31, 2026.

Credit Quality

“Our nonaccrual loans increased by $9.7 million during the quarter, driven entirely by a single syndication loan that passed its contractual maturity due to construction delays. We took an additional provision during the first quarter for this loan out of an abundance of caution and in keeping with our disciplined approach to credit management. We remain confident in the quality of our overall portfolio and our ability to resolve this credit without material impact to earnings,” said President and CEO Hayes.

Nonperforming loans increased to $10.2 million, or 0.60% of total loans, at March 31, 2026, compared to $646 thousand, or 0.04% of total loans, at December 31, 2025, and $599 thousand, or 0.04% of total loans, a year earlier. The increase during the quarter was the result of one syndication loan that was placed on nonaccrual. The allowance for credit losses represented 117.6% of nonperforming loans at March 31, 2026, compared to 1,698.8% at December 31, 2025, and 1,582.8% a year earlier.

Net loan recoveries totaled $1 thousand in the first quarter of 2026, compared to net loan charge-offs of $6 thousand in the fourth quarter of 2025 and net loan recoveries of $2 thousand in the first quarter of 2025. The allowance for credit losses was $12.0 million, or 0.70% of total loans, at March 31, 2026, compared to $11.0 million, or 0.65% of total loans, at December 31, 2025, and $9.5 million, or 0.63% of total loans, a year ago. The increase compared to the prior quarter included approximately $300 thousand of unallocated reserves.

Operating Results

Kish generated a return on average common equity of 15.73% and a return on average assets of 1.08% in the first quarter of 2026, compared to 11.71% and 0.84%, respectively, in the first quarter a year ago.

Net interest income, before the provision for credit losses, increased 22.3% to $16.0 million in the first quarter of 2026, compared to $13.1 million in the first quarter a year ago, reflecting a stable and well-managed net interest margin. The Company’s net interest margin was 3.43% in the first quarter of 2026, compared to 3.41% in the preceding quarter and 3.26% in the first quarter of 2025. Kish’s balance sheet strategies, particularly its hedging program, have successfully improved net interest margin and interest rate risk management while increasing overall balance sheet flexibility. Hedging execution requires the extensive use of borrowed funds from wholesale funding sources, such as the FHLB.

The Company recorded an $845 thousand provision for credit losses in the first quarter of 2026, compared to a $393 thousand provision for credit losses in the fourth quarter of 2025, and a $159 thousand provision in the first quarter of 2025.

Kish’s first quarter noninterest income increased 17.8% to $3.6 million, compared to $3.1 million in the first quarter a year ago. The year over year increase was primarily a result of higher service fees on deposit accounts, equity securities gains, and strong results from Kish’s insurance and wealth management divisions.

Noninterest expense increased $783 thousand, or 6.7%, to $12.4 million in the first quarter of 2026, compared to $11.6 million in the first quarter of 2025. Salary and benefit expense remains the leading driver of noninterest expense growth, reflecting an expanding team and the inflationary pressures weighing on compensation across the industry. Operating costs also edged higher, largely reflecting intentional spending on technology infrastructure designed to scale with the Bank’s growth and improve how it serves customers.

The efficiency ratio for the first quarter of 2026 was 66.1%, compared to 64.2% for the preceding quarter and 72.7% for the first quarter of 2025. The efficiency ratio includes the Company’s non-banking units, which operate at higher expense levels than Kish Bank.

In the first quarter of 2026, the Company recorded $1.1 million in state and federal income tax expense for an effective tax rate of 16.8%, compared to $760 thousand, or 17.4%, in the first quarter a year ago.

Dividend

On April 1, 2026, the Board of Directors declared a quarterly dividend of $0.40 per share, payable April 30, 2026, to shareholders of record as of April 15, 2026, which was unchanged from the prior quarter. The current dividend represents an annualized yield of 3.20% based on recent market prices. Kish Bancorp has paid uninterrupted dividends since its formation in 1987, with a dividend increase in 12 of the last 13 years.

About Kish Bancorp, Inc.

Kish Bancorp, Inc. is a diversified financial services corporation headquartered in Belleville, PA, with executive offices in State College, PA and an Innovation Center in Reedsville, PA. Kish Bank, a subsidiary of Kish Bancorp, Inc., operates 20 locations serving Centre, Mifflin, Huntingdon, Blair, and Juniata counties in Pennsylvania, as well as northeastern Ohio. In addition to Kish Bank, other business units include: Kish Insurance, an independent property and casualty insurance agency; Kish Financial Solutions, which offers trust, fiduciary, and wealth management advisory services; Kish Benefits Consulting, which provides employee benefits consulting services; and Kish Travel, a full-service travel agency. KISB is the OTCQX stock ticker symbol for Kish Bancorp, Inc. For additional information, please visit ir.kishbancorp.com or otcmarkets.com/stock/KISB.

Forward-Looking Statements

Certain statements regarding Kish Bancorp, Inc. set forth in this document and any related materials, as well as in related oral and written presentations, contain forward-looking information and speak only as of the date of such statement. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans and prospects. This forward-looking information is subject to numerous material risks, uncertainties and assumptions, certain of which are beyond the control of Kish Bancorp, including the impact of general economic conditions, industry conditions, competition from other industry participants, the effect of federal, state and local regulation on financial institutions, market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the material assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Kish Bancorp will derive therefrom. Kish Bancorp disclaims any intention or obligation to update or revise any forward-looking information, whether, because of new information, future events or otherwise, except as required by applicable securities laws.

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