Bank of San Francisco Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 net income $2.3 million, up 23% year over year
- ➤Q3 diluted EPS $1.04, up from $0.86 year over year
- ➤Total assets $930.4 million, up 33% year over year
- ➤Total deposits $805.1 million, up 33% year over year
- ➤Total loans $737.9 million, up 27% year over year
Expert Statements
William Keller, Chief Executive Officer of Bank of San Francisco
“We are pleased with the Bank's performance through the first nine months of 2026. As we approach $1 billion in assets, we see the accelerating benefits of our relationship-focused strategy reflected in the continued growth of loans, deposits, and earnings. As a result, we are reporting our best earnings per share profitability in almost five years, and pre-tax, pre-provision results that are substantially above prior periods while maintaining strong asset quality, a solid capital position, and a commitment to the personal service that sets Bank of San Francisco apart.”
Margaret Mak, Founder, Private Banking of Bank of San Francisco
“Relationship deposits, net of reductions in brokered deposits, increased $74.4 million during the quarter across all parts of the Bank. Our Laurel Village branch, which opened in January, grew by $18.7 million to $46.2 million, Private Banking grew by $27.5 million to $212.6 million, and Commercial Banking grew by $28.2 million to $489.8 million. It is especially rewarding to see the many long-term relationships our team has built continue to contribute to the Bank's growth.”
Margaret Mak, Founder, Private Banking of Bank of San Francisco
“The loan mix continues to shift slightly toward commercial real estate as accelerated payoffs of legacy mortgages have limited net mortgage growth, while mortgage production remained strong. Year to date, mortgage originations totaled approximately $71 million, with 62% generated by Private Banking. These mortgages are true relationship loans. In aggregate, every dollar of mortgage and home equity lending has generated approximately 41 cents in deposits.”
Bill Ward, President and Chief Operating Officer of Bank of San Francisco
“Growth brings opportunity, but it also requires preparation, and over the past year, we have invested in our team, technology, and operations to more effectively and efficiently serve our clients. A sound operating and risk management foundation complements our strong capital base and excellent credit quality.”
Bill Ward, President and Chief Operating Officer of Bank of San Francisco
“As we enter our next stage of growth and operating leverage continues to improve, we expect investments to grow more slowly than revenues as evidenced by our improving efficiency ratio, which decreased from 64.9% to 60.7% in the quarter, and from 64.8% to 62.9% year to date.”
SAN FRANCISCO, CA / ACCESS Newswire / November 2, 2026 / Bank of San Francisco ("the Bank") (OTCQX:BSFO) today reported unaudited net income of $2.3 million, or $1.04 per diluted share for the three months ended September 30, 2026, compared to $1.7 million, or $0.76 per diluted share for the three months ended June 30, 2026, and $1.8 million, or $0.86 per diluted share for the three months ended September 30, 2025. For the nine months ended September 30, 2026, the Bank reported net income of $5.9 million, or $2.74 per diluted share, compared to $4.6 million, or $2.14 per diluted share, for the nine months ended September 30, 2025.
"We are pleased with the Bank's performance through the first nine months of 2026," said William Keller, Chief Executive Officer. "As we approach $1 billion in assets, we see the accelerating benefits of our relationship-focused strategy reflected in the continued growth of loans, deposits, and earnings. As a result, we are reporting our best earnings per share profitability in almost five years, and pre-tax, pre-provision results that are substantially above prior periods while maintaining strong asset quality, a solid capital position, and a commitment to the personal service that sets Bank of San Francisco apart."
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