Commencement Bancorp, Inc. Announces Third Quarter 2026 Results
Key Highlights
- ➤Net income $2.0 million, or $0.55 per share, up from $1.8 million sequentially
- ➤Loans receivable increased $13.5 million to $570.1 million, or 9.6% annualized
- ➤Net interest income rose 6.7% year over year to $7.3 million
- ➤Nonperforming assets increased to $1.8 million, or 0.25% of total assets
- ➤Total deposits decreased $23.0 million to $636.6 million, primarily due to seasonality
Expert Statements
John E. Manolides, Chief Executive Officer of Commencement Bancorp, Inc.
“I'm pleased with our continued momentum this quarter, marked by sustained growth in loans and stable core deposits while improving profitability on both a linked-quarter and year-over-year basis. Our disciplined approach to managing funding costs has helped us maintain a strong net interest margin over the past several quarters. The third-quarter results underscore the strength of our core business and our long-term focus on sustainable, profitable growth.”
Nigel L. English, President & Chief Operating Officer of Commencement Bancorp, Inc.
“Our commercial and retail banking teams continue to capture market share by proving that agility, local underwriting autonomy, and simply talking to a real person still matter in an increasingly consolidated, digital-first banking landscape.”
Nigel L. English, President & Chief Operating Officer of Commencement Bancorp, Inc.
“We remain focused on an intentional, long-term vision to scale our regional footprint and deepen our community and market impact. We are uniquely positioned to be the premier community banking partner for growing businesses and capture adjacent commercial lending opportunities. Our highly disciplined approach to relationship banking is directly reflected in our respectable financial results.”
TACOMA, WA / ACCESS Newswire / October 29, 2026 / Commencement Bancorp, Inc. (OTCQX:CBWA) (the "Company", "we," or "us"), the parent company of Commencement Bank (the "Bank"), reported net income of $2.0 million, or $0.55 per share, for the third quarter of 2026 compared to $1.8 million, or $0.48 per share, for the second quarter of 2026. Comparable earnings were $1.9 million, or $0.49 per share, for the third quarter of 2025. The Bank recorded return on average assets of 1.11% for the third quarter of 2026, compared to 1.01% for the second quarter of 2026 and 1.06% for the third quarter of 2025. The return on average common equity was 12.67% for the third quarter of 2026 compared to 11.81% for the second quarter of 2026 and 13.10% for the third quarter of 2025.
"I'm pleased with our continued momentum this quarter, marked by sustained growth in loans and stable core deposits while improving profitability on both a linked-quarter and year-over-year basis. Our disciplined approach to managing funding costs has helped us maintain a strong net interest margin over the past several quarters. The third-quarter results underscore the strength of our core business and our long-term focus on sustainable, profitable growth," said John E. Manolides, Chief Executive Officer.
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