White River Bancshares Reports Record Q1 Earnings

A Google Street View image of a Signature Bank of Arkansas branch in Bentonville (© Google)

White River Bancshares Co. (OTCQX: WRIV) of Fayetteville recently reported record first-quarter earnings, with net income jumping to $2.63 million from $509,000 a year ago.

Per share, earnings came to $1.07.

The holding company for Signature Bank of Arkansas and Banco Sí attributed the increase in part to growth in its loan portfolio. Loans totaled $1.128 billion as of March 31, up 16.3% from $969.7 million in the first quarter of 2024.

That loan growth resulted in higher net interest income, which climbed 32% to $10.6 million in the quarter.

Total deposits increased by $190.7 million, or 18.9%, year-over-year to $1.2 billion, compared to $1.01 billion a year ago.

“Expanding our deposit base to fund new loan growth remains our top priority, and also our biggest challenge as a community bank,” Scott Sandlin, the bank’s chief strategy officer, said in a statement. “The Company has made deposit gathering the primary focus and our team has done an excellent job of expanding existing client relationships as well as attracting new customers to the Bank.”

The company finished the first quarter with total assets of $1.379 billion, up 17.2% from $1.177 a year ago.

Shares of White River Bancshares opened at $39.26 on Monday. Over the past 12 months, shares were up about 44%.

The company completed a two-for-one stock split in September.

The company has bank branches in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro.