SHARPE
Reported results
- Net income was $16.8 million ($0.50 per diluted share) for Q3 2026, compared to $18.9 million ($0.56 per diluted share) for Q2 2026 and $14.3 million ($0.43 per diluted share) for Q3 2025 – GAAP
- Pre-tax pre-provision income (non-GAAP) was $27.5 million for Q3 2026, an increase of $1.5 million from $26.1 million in Q2 2026 and up $5.5 million from $21.977 billion in Q3 2025
- Net interest income increased to $55.1 million in Q3 2026 from $52.9 million in Q2 2026; net interest margin increased 8 basis points to 3.78% from 3.70%
- Net interest margin excluding accretion (non-GAAP) was 3.50% for Q3 2026 compared to 3.45% for Q2 2026, with loan yields increasing 4 basis points and funding costs decreasing 2 basis points
- Provision for credit losses was $5.3 million in Q3 2026 compared to $896 thousand in Q2 2026, driven by higher multifamily loan-related charge-offs; net charge-offs increased to $4.8 million from $123 thousand
- Book value per share increased to $18.59 at September 30, 2026 from $18.44 at June 30, 2026; company declared a dividend of $0.14 per share and repurchased 148,006 shares for approximately $3.4 million
Guidance
- Management anticipates ongoing expense management of professional services and technology investments will result in continued improvements in operating leverage over time
Notes
Nonperforming assets were 1.27% of total assets at September 30, 2026, an increase from 1.09% at June 30, 2026 and 0.45% at September 30, 2025. The increase was primarily driven by three large multifamily real estate loans with aggregate balance of $48.2 million that were downgraded and partially charged off by $3.9 million due to updated appraisals reflecting property-specific issues. Company foreclosed on one office commercial real estate property with carrying value of $10.8 million during Q3 2026.
Price and volatility reaction
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.