Tri-County Financial Group, Inc. reported a net income of $6.1 million for the six months ended June 30, 2025, reflecting a 22% increase from $5.0 million in the same period of 2024. The company's net interest income rose by 13% to $23.9 million, driven by improved loan yields, while non-interest income also saw a significant increase of 15.8%, totaling $8.3 million. The efficiency ratio improved to 73.2% from 80.6% year-over-year, indicating better cost management relative to revenue generation.
Total assets increased to $1.56 billion as of June 30, 2025, up from $1.54 billion at the end of 2024. This growth was primarily attributed to a $13.7 million rise in mortgage loans held for sale. The company’s loan portfolio remained stable, with total loans slightly increasing to $1.28 billion, compared to $1.27 billion at year-end 2024. The real estate segment constituted 89% of the loan portfolio, with commercial real estate loans showing a 3.7% increase.
In terms of operational metrics, Tri-County Financial Group's customer engagement remained strong, with a total of 286 full-time equivalent employees as of June 30, 2025, down from 309 at the end of 2024. The company also reported a decrease in brokered deposits, which fell to $32.5 million from $49.2 million, indicating a strategic shift towards more stable funding sources. The average balance of interest-bearing deposits was $1.10 billion, reflecting a slight increase in demand deposits.
The company’s capital position remained robust, with total stockholders' equity rising to $149.0 million, an increase of 4.1% from $143.2 million at the end of 2024. The capital ratios indicated that the bank was well-capitalized, with a Common Equity Tier 1 capital ratio of 13.8%, significantly above the regulatory minimum of 7.0%. Looking ahead, Tri-County Financial Group anticipates continued growth in net interest income and non-interest income, supported by a stable economic environment and effective management of credit risks.
About Tri-County Financial Group, Inc.
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