Consumers Bancorp Reports 52% Increase in Net Income for Quarter Ended March 31, 2026

Consumers Bancorp, Inc. reported its financial results for the three and nine months ended March 31, 2026, showing a net income of $2.8 million, or $0.90 per share, compared to $1.9 million, or $0.59 per share, for the same period in 2025. This represents a 52% increase in net income year-over-year for the quarter and a 29% increase for the nine-month period, where net income reached $8.2 million compared to $6.4 million in the prior year. Total interest and dividend income rose to $14.9 million for the quarter, up from $12.9 million a year earlier, driven primarily by an increase in loan income, which grew to $12.7 million from $10.6 million.

The company experienced significant growth in its loan portfolio, which increased to $904.1 million as of March 31, 2026, up from $813.5 million at the end of June 2025. This growth was attributed to a rise in commercial and industrial loans, which reached $153.4 million, and an increase in residential real estate loans, which totaled $207.5 million. The allowance for credit losses also increased to $8.9 million from $8.5 million, reflecting the company's proactive approach to managing credit risk amid a growing loan portfolio.

In terms of operational developments, Consumers Bancorp reported a total deposit increase to $1.1 billion, up from $1.0 billion in the previous fiscal period. The bank's noninterest-bearing demand deposits rose to $247.1 million, while interest-bearing demand deposits increased to $164 million. The company also noted a strategic investment in affordable housing tax credit partnerships, aimed at generating tax benefits and supporting community development initiatives. This investment totaled $9.3 million, with an unfunded commitment of $3.7 million.

The company’s total assets reached $1.24 billion, compared to $1.17 billion in the prior year, reflecting a solid growth trajectory. The increase in total assets was supported by a rise in cash and cash equivalents, which totaled $17.3 million, down from $19.9 million, and a decrease in available-for-sale securities, which fell to $258.4 million from $273.9 million. The company’s total shareholders' equity also increased to $86.9 million, up from $76.3 million, indicating a strengthened capital position.

Looking ahead, Consumers Bancorp expressed optimism about its growth prospects, citing a favorable economic environment and a commitment to expanding its market presence in Ohio, Pennsylvania, and West Virginia. The company plans to continue focusing on enhancing its product offerings and improving customer engagement to drive further growth in its loan and deposit portfolios.