White River Bancshares Co. (OTCQX: WRIV) of Fayetteville, the holding company for Signature Bank of Arkansas, recently reported third-quarter net income of $3.54 million, up 29.2% from $2.74 million a year ago.
Per share, earnings came to $1.44.
Profit was pushed higher by a 35% increase in net interest income, which totaled $12.8 million in the period. The increase corresponded with loan growth of 27%. The bank finished the period with $1.24 billion in loans, compared to $977 million a year ago.
Noninterest income growth also contributed to the results. The bank reported $2.2 million in noninterest income, up 10.6% primarily due to an increase in wealth management fee income.
Deposits continued growing in the quarter, reaching $1.3 billion, up 24.1% from the third quarter of 2024.
“Deposit gathering isn’t just a strategic priority — it’s becoming embedded in our banking mindset,” CFO Scott Sandlin said in a statement. “It’s a regular part of our conversations across the organization, and there’s a shared understanding of how essential a strong deposit base is to supporting loan growth and strengthening customer relationships.”
The bank reported noninterest expense of $10 million in the third quarter, up 20.5% from $8.3 million a year ago. Higher salaries and benefits contributed to the increase.
The company has 10 locations — including Banco Sí, the state’s first dedicated bilingual bank —in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro.
White River Bancshares stock opened at $46.90 on Tuesday. Over the past 12 months, shares were up nearly 43%
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