Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based hold¬ing company for Benchmark Community Bank, announced unaudited results for the fourth quarter and year ended December 31, 2025. Net income for the fourth quarter of 2025 was $5.2 million, or $1.17 per share, compared to $4.5 million, or $1.00 per share, posted for the fourth quarter of 2024. Net income for the year was $19.8 million, or $4.46 per share, compared to $15.9 million, or $3.55 per share, earned in 2024.
Highlights include:
- Total loans held for investment were $1.1 billion as of December 31, 2025, an increase of $134.3 million, or 13.5% from December 31, 2024.
- As of December 31, 2025, total deposits were $1.2 billion, increasing $122.9 million, or 11.2%, from December 31, 2024. Total deposits provide a stable funding base for balance sheet growth; however, deposit base growth combined with shifts into higher interest earning products continues to impact interest expense.
- Net income for year ended December 31, 2025 increased 25.2%, or $3.9 million, over the comparative 2024 period. This increase was driven by the combination of balance sheet growth, net interest margin expansion, and an improved efficiency ratio.
- Net interest income increased $8.2 million or 16.8%, to $56.6 million for 2025 from $48.5 million for 2024. Total interest income increased $9.1 million and was partially offset by an increase in interest expense of $923 thousand when comparing 2025 to 2024.
- For 2025, the provision for credit losses was $1.4 million compared to $917 thousand for same period of 2024. The provision for credit losses for 2025 consisted of a provision for loans of $1.3 million and $78 thousand for unfunded commitments. The increase in provision was due primarily to portfolio growth and higher net charge-offs during 2025. The allowance for credit losses on loans as a percentage of loans was 0.77% as of December 31, 2025 compared to 0.79% as of December 31, 2024.
- Salaries and benefits expense increased $1.9 million, or 9.6%, to $22.5 million for 2025 compared to $20.6 million for comparative 2024 period. The increase was primarily due to branch expansion, lower position vacancy levels, and benefit costs. A total of $533 thousand and $328 thousand was expensed to the bank’s employee stock ownership plan in 2025 and 2024, respectively, to provide for plan liquidity needs and allow for future stock repurchases.
- Non-performing assets to total assets was 0.16% on December 31, 2025 compared to 0.31% on December 31, 2024.
As of December 31, 2025, total assets were $1.4 billion, an increase of $142.7 million, or 11.7%, over December 31, 2024.
Shareholders’ equity, net of unrealized gains and losses on investment securities, was $126.9 million as of December 31, 2025, an increase of $17.4 million, or 15.9%, over the December 31, 2024 balance of $109.4 million. All capital ratios exceeded regulatory guidelines for a well-capitalized financial institution under the Basel III regulatory requirements as of December 31, 2025.
Key Financial Ratios (comparing the years ended December 31, 2025 to 2024):
- Earnings per common share increased 25.6%, from $3.55 to $4.46.
- Return on average equity was 16.63% compared to 15.06%.
- Return on average assets was 1.54% compared to 1.33%.
- Net interest margin increased to 4.68% from 4.35%.
- Book value per share increased from $24.51 to $28.51 per share. The closing market price at year-end was $33.51 per share, or 117.6% of book value.
The common stock of Benchmark Bankshares, Inc. trades on the OTC Pink marketplace under the symbol BMBN. Any stockbroker can assist with purchases of the company's stock, as well as with sales of holdings.
Benchmark Community Bank, founded in 1971, is headquartered in Kenbridge, VA. It is the Company's sole subsidiary which operates eighteen banking offices throughout central Southside Virginia and northern North Carolina.
Consolidated Statements of Financial Condition & Consolidated Statements of Operations
Contact: Helen Person, VP/Director of Marketing & Public Relations
(434) 676-2666 ext. 1103
helen.person@bcbforlife.bank
