MENDOTA, Ill., Feb. 25, 2026 /PRNewswire/ -- Tri-County Financial Group, Inc. (the "Company") (OTCQX: TYFG) today announced financial results for the fourth quarter of 2025.
Net income for the fourth quarter of 2025 was $3.9 million ($1.64 per share), compared to $2.4 million ($1.00 per share) during the fourth quarter of 2024. Net income was $13.7 million ($5.73 per share) for the twelve-month period ending December 31, 2025, compared to $10.4 million ($4.33 per share) for the twelve-month period ending December 31, 2024, an increase of 32%.
Net interest income was $13.2 million during the quarter ended December 31, 2025, compared to $10.9 million in the same period of 2024, an increase of 21%.
Non-interest income was $4.5 million for the fourth quarter of 2025, an increase of $0.5 million, or 13%, compared to $4.0 million during the quarter ended December 31, 2024.
Non-interest expense was $12.5 million during the quarter ended December 31, 2025, compared to $11.9 million for the fourth quarter of 2024, an increase of $0.6 million.
Our investment portfolio consists entirely of debt securities classified as available-for-sale; therefore, unrealized gains and losses are fully reported on our balance sheet. None of our securities are classified as held-to-maturity. The investment portfolio increased $10.5 million or 7% year over year and totaled $154.2 million at December 31, 2025, as compared to $143.7 million at December 31, 2024.
Total loans increased $42.6 million, or 3%, to $1.33 billion at December 31, 2025, from $1.29 billion at December 31, 2024. Nonperforming loans as a percentage of total loans were 0.43% as of December 31, 2025, compared to 0.33% at December 31, 2024.
The credit loss expense was $0.3 million for the quarter ended December 31, 2025. The allowance for credit loss was $15.0 million at December 31, 2025 and represented 1.13% of gross loans, compared to $14.4 million at December 31, 2024 and 1.12% of gross loans. Asset quality continues to remain strong and charge offs remain low.
Total deposits increased by $30.6 million, year-over-year. Total deposits were $1.304 billion at December 31, 2025, which consisted of approximately $44.9 million of brokered deposits. Total deposits were $1.273 billion at December 31, 2024, which consisted of approximately $49.3 million of brokered deposits. Without factoring in brokered deposits, total deposits increased approximately $35 million year-over-year. Federal Home Loan Bank (FHLB) advances were $77.9 million and $67.9 million at December 31, 2025 and 2024, respectively.
The Company's capital levels remain strong as of December 31, 2025, with a Tier 1 leverage ratio of 10.02%.
On December 9, 2025, the Board of Directors declared a regular dividend of $0.25 per share, payable January 8, 2026, to shareholders of record on December 31, 2025.
In announcing the results, Tri-County Financial Group, Inc. President and CEO Kirk Ross, stated, "Our fourth quarter results reflected solid earnings with strong growth in net interest income and continued improvement in our net interest margin. We believe solid earnings performance will continue with increased yields on our earning assets and lower funding costs as we continue to see repricing in our loan portfolio. We remain attentive to our loan strategies and our asset quality remains strong. We are continuing our deposit growth strategies in a competitive market and monitor our local competition to offer competitive rates while continuing to provide exceptional community banking services. "
Tri-County Financial Group, Inc. is the parent holding company for First State Bank, with offices in Mendota, Batavia, Bloomington, Champaign, Geneva, LaMoille, McNabb, North Aurora, Ottawa, Peru, Princeton, Rochelle, Shabbona, St. Charles, Streator, Sycamore, Waterman and West Brooklyn. First State Bank is the parent company of First State Mortgage Services, LLC and First State Insurance. Tri-County Financial Group, Inc. shares are quoted under the symbol TYFG and traded on OTCQX.
Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements due to various factors, including operating; legal and regulatory risks; changing economic and competitive conditions; and other risks and uncertainties. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
Contact:
Lana Eddy, Secretary
leddy@firststatebank.biz
815.538.2265
TRI COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
QUARTER ENDED DECEMBER 31ST
(Unaudited, 000s omitted, except share data)
2025
2024
Interest Income
$ 21,296
$ 19,531
Interest Expense
8,051
8,584
Net Interest Income
13,245
10,947
Provision (Recovery) for Credit Losses
18
74
Net Interest Income After Provision (Recovery)
for Credit Losses
13,227
10,873
Non-Interest Income
4,532
4,021
FDIC Assessments
181
170
Non-Interest Expenses
12,359
11,680
Income Before Income Taxes
5,219
3,044
Applicable Income Taxes
1,329
653
Security Gains (Losses)
-
-
Net Income (Loss)
$ 3,890
$ 2,391
Basic Net Income Per Share
$ 1.64
$ 1.00
Weighted Average Shares Outstanding
2,375,565
2,396,410
TRI-COUNTY FINANCIAL GROUP, INC. & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited, 000s omitted, except share data)
ASSETS
12/31/2025
12/31/2024
Cash and Due from Banks
$ 46,193
$ 42,418
Federal Funds Sold
3,446
2,558
Debt Securities Available-for-Sale
154,207
143,735
Loans and Leases
1,327,983
1,285,419
Less: Allowance for Credit Losses
(14,992)
(14,444)
Loans, Net
1,312,991
1,270,975
Premises & Equipment
24,330
25,344
Intangibles
8,678
8,700
Other Real Estate Owned
101
920
Accrued Interest Receivable
8,222
7,475
Other Assets
37,553
37,160
TOTAL ASSETS
$ 1,595,721
$ 1,539,285
LIABILITIES
Demand Deposits
167,062
170,545
Interest-bearing Demand Deposits
426,398
399,103
Savings Deposits
198,919
202,410
Time Deposits
511,544
501,239
Total Deposits
1,303,923
1,273,297
Repurchase Agreements
23,105
22,679
FHLB and Other Borrowings
77,917
67,917
Interest Payable
73
73
Subordinated Debt
9,859
9,834
Total Repos & Borrowings
110,954
100,503
Other Liabilities
22,466
21,680
Dividends Payable
607
611
TOTAL LIABILITIES
$ 1,437,950
$ 1,396,091
STOCKHOLDERS' EQUITY
Common Stock
2,375
2,394
Additional Paid-in-Capital
20,426
21,212
Retained Earnings
141,073
129,793
Accumulated Other Comprehensive Loss
(6,103)
(10,205)
TOTAL STOCKHOLDERS' EQUITY
157,771
143,194
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 1,595,721
$ 1,539,285
Book Value Per Share
$ 66.43
$ 59.81
Tangible Book Value Per Share
$ 62.77
$ 56.18
Bid Price
$ 49.10
$ 45.50
Period End Outstanding Shares
2,375,138
2,394,193
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