SMITHFIELD, NC / ACCESS Newswire / January 23, 2026 / KS Bancorp, Inc. (the "Company") (OTCID:KSBI), parent company of KS Bank, Inc. (the "Bank"), reported strong financial results for the fourth quarter and the year ended December 31, 2025, highlighted by significant growth in earnings, assets, and reflecting continued loan demand and disciplined balance sheet management.

For the three months ended December 31, 2025, the Company reported net income of $2.6 million, or $2.31 per diluted share, compared to $1.7 million, or $1.49 per diluted share, for the same period in 2024. This represents a 55.0% increase in net income year-over-year.

For the full year ended December 31, 2025, net income was $9.4 million, or $8.44 per diluted share, compared to $6.2 million, or $5.56 per diluted share, for the twelve months ended December 31, 2024, an increase of 52.0%.

Net interest income before the provision for credit losses increased 24.3% to $7.7 million for the fourth quarter of 2025, compared to $6.2 million for the same quarter in 2024. Non-interest income for the three months ended December 31, 2025, was $969,000, compared to $915,000 for the comparable period ended December 31, 2024. Non-interest expense totaled $5.1 million, compared to $4.8 million in the fourth quarter of 2024.

For the twelve months ending December 31, 2025, net interest income before the provision for credit losses was $28.2 million, up 26.8% from $22.2 million in the same period of 2024. Non-interest income increased to $4.0 million, compared to $3.5 million for the same period ended December 31, 2024, while non-interest expenses were $19.0 million, compared to $17.1 million for the twelve months ending December 31, 2024. The increase reflects investments in personnel, equipment, and technology to support continued growth.

As of December 31, 2025, the Company's unaudited consolidated total assets were $822.6 million, an increase of $131.7 million from $690.9 million at December 31, 2024. Driven by continued loan demand across the Company's branch network, net loan balances grew $109.7 million to $664.2 million, compared to $554.5 million at December 31, 2024. The Company's investment securities totaled $95.2 million at December 30, 2025, compared to $95.9 million at December 31, 2024. Total deposits increased by $131.4 million to $749.6 million at December 31, 2025, compared to $618.2 million at December 31, 2024. The increase included a $35.3 million increase in core deposits. Borrowings declined by $11.1 million, totaling $11.3 million at December 31, 2025, compared to $22.4 million at year's end 2024. Total stockholders' equity increased $10.5 million to $55.8 million as of December 31, 2025, from $45.3 million as of December 31, 2024, reflecting strong retained earnings and overall balance sheet health.

 

As of December 31, 2025, nonperforming assets consisted of nonaccrual loans totaling $329,000 and foreclosed real estate with a value of $500,000, representing less than 0.20% of the Company's total assets. The allowance for credit losses as of December 31, 2025, totaled $5.1 million, or 0.76% of total loans.

Commenting on the fourth quarter results, Earl W. Worley, Jr., President and CEO of the Company, stated, "We are proud to report a strong fourth quarter and the best year on record for KS Bancorp, Inc., highlighted by solid earnings growth and continued balance sheet expansion. Full year net income increased 52%, reflecting the strength of our core operations and the continued trust our customers place in KS Bank. Loan growth of nearly 20% and deposit growth of more than 21% during the year demonstrated the sustained demand across our markets and the effectiveness of our relationship-focused approach to community banking. Notably, we achieved this growth while maintaining a healthy balance sheet, strong capital levels, and excellent credit quality. Nonperforming assets remained below 0.20% of total assets, and our capital ratios continue to reflect a well-capitalized institution. As we move forward, we remain focused on disciplined balance sheet management, prudent risk practices, and strategic investments in our people and technology, while staying true to the values that have guided KS Bank for more than a century. In addition, we thank our employees, customers, and shareholders for their continued trust and support."

In addition, the Company announced today that its Board of Directors have declared a quarterly dividend of $0.30 per share for stockholders of record as of February 2, 2026, with payment to be made on February 12, 2026.

KS Bank continues to be well-capitalized according to regulatory standards, with a Community Bank Leverage Ratio of 9.02% as of December 30, 2025, compared to 9.24% as of December 31, 2024.

KS Bancorp, Inc. is a Smithfield, North Carolina-based single-bank holding company. KS Bank, Inc., a state-chartered savings bank, is KS Bancorp's sole subsidiary. The Bank is a full-service community bank that has served the citizens of eastern North Carolina since 1924. The Bank offers a broad range of personal and business banking products and services, as well as mortgage and trust services. Eleven full-service branches are located in Kenly, Selma, Clayton, Garner, Goldsboro, Wilson, Wendell, Smithfield, Four Oaks, Dunn, and Bailey, North Carolina. For more information, visit www.ksbankinc.com.

Contact:
Earl W. Worley, Jr.
President and Chief Executive Officer
(919) 938-3101

Regina J Smith
Chief Financial Officer
(919) 938-3101

KS Bancorp, Inc. and Subsidiary
Consolidated Statements of Financial Condition

December 31, 2025
(unaudited)

December 31, 2024*

ASSETS



Cash and due from banks:



Interest-earning

$

30,244

$

10,627

Noninterest-earning

5,259

4,897

Time Deposit

746

523

Investment securities available for sale, at fair value

95,158

95,946

Federal Home Loan Bank stock, at cost

498

469

Loans

669,267

558,779

Less allowance for loan losses

(5,062

)

(4,259

)

Net loans

664,205

554,520

Accrued interest receivable

3,078

2,655

Foreclosed assets, net

500

-

Property and equipment, net

13,603

12,231

Other assets

9,312

8,981

Total assets

$

822,603

$

690,849

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities

Deposits

$

749,601

$

618,156

Short-term borrowings

-

11,144

Long-term borrowings

11,248

11,248

Accrued interest payable

405

323

Accrued expenses and other liabilities

5,505

4,675

Total liabilities

766,759

645,546

Stockholder's Equity:

Preferred stock, no par value, 500,000 shares authorized; none issued and outstanding

Common stock, no par value, 3,500,000 shares authorized; 1,107,776 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively

1,359

1,359

Retained earnings, substantially restricted

60,814

52,675

Accumulated other comprehensive Income (loss)

(6,329

)

(8,731

)

Total stockholders' equity

55,844

45,303

Total liabilities and stockholders' equity

$

822,603

$

690,849

* Derived from audited financial statements

KS Bancorp, Inc and Subsidiary
Consolidated Statement of Income

Three Months Ended

Twelve Months Ended

31-Dec

31-Dec

2025

2024

2025

2024

(In thousands, except per share data)

Interest and dividend income:

Loans

$

10,797

$

8,749

$

39,674

$

32,269

Investment securities

Taxable

589

564

2,299

2,138

Tax-exempt

185

182

729

771

Dividends

19

29

37

47

Interest-bearing deposits

203

203

616

925

Total interest and dividend income

11,793

9,727

43,355

36,150

Interest expense:

Deposits

3,982

3,472

14,442

13,100

Borrowings

159

98

755

848

Total interest expense

4,141

3,570

15,197

13,948

Net interest income

7,652

6,157

28,158

22,202

Provision for loan losses

215

47

1,025

493

Net interest income after

provision for loan losses

7,437

6,110

27,133

21,709

Noninterest income:

Service charges on deposit accounts

394

369

1,451

1,343

Fees from trust services

441

368

1,615

1,391

Other income

134

178

885

754

Total noninterest income

969

915

3,951

3,488

Noninterest expenses:

Compensation and benefits

3,149

2,519

11,716

10,066

Occupancy and equipment

749

751

2,718

2,999

Data processing & outside service fees

319

256

1,172

988

Advertising

59

56

269

228

Other

828

1,187

3,148

2,790

Total noninterest expenses

5,104

4,769

19,023

17,071

Income before income taxes

3,302

2,256

12,061

8,126

Income tax

741

603

2,703

1,968

Net income

$

2,561

$

1,653

$

9,358

$

6,158

Basic and Diluted earnings per share

$

2.31

$

1.49

$

8.44

$

5.56

This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like "expect," "anticipate," "estimate" and "believe," variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements.

SOURCE: KS Bancorp, Inc.



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