LIMERICK, PA — The Victory Bancorp, Inc. (OTCQX: VTYB), the holding company for The Victory Bank, reported third-quarter 2025 net income of $358,000. While earnings were affected by merger-related expenses tied to the company’s definitive agreement with QNB, core business performance remained strong with continued deposit and book value growth.
Net interest income—the bank’s primary earnings driver—rose to $3.70 million, up from $3.46 million in the same quarter last year. Other expenses increased to $3.47 million from $2.90 million a year earlier, largely due to $374,000 in costs associated with the pending merger. Excluding those expenses, the company’s return on equity would have been 8.07%. Reported return on average assets was 0.29%, compared to 0.50% in the third quarter of 2024.
Deposits continued to climb, reaching $436.74 million as of September 30, 2025—an increase of $38.57 million year-over-year. The expansion was driven in part by the company’s new Horsham branch, which opened earlier this year and added to its presence in a key suburban market.
Book value per common share rose to $15.85, up from $14.89 a year ago, while stockholders’ equity increased to $31.65 million, strengthening the bank’s already solid capital position. Credit quality also remained robust, with no nonperforming assets and a net charge-off rate of –(0.01)%, reflecting net recoveries. The allowance for credit losses stood at 0.88% of total loans.
Basic and diluted earnings per share were $0.18 and $0.17, respectively, compared to $0.30 and $0.29 a year earlier. Excluding merger expenses, those figures would have improved to $0.33 and $0.31.
Chairman and Bank Leader Joseph W. Major praised the quarter’s resilience despite one-time costs. “Victory Bancorp delivered another solid quarter in 2025, continuing its record of disciplined growth and strong financial performance,” Major said. “The company achieved net income of $358,000 for the third quarter, supported by continued deposit expansion, prudent expense management, and healthy credit quality.”
Major also pointed to the success of the new Horsham branch as a sign of the company’s continued momentum. “The opening of our new Horsham branch expanded our presence in a dynamic and growing market, creating new opportunities to serve businesses and individuals with excellence,” he said. “As we look ahead, we remain dedicated to supporting our clients’ success, deepening community connections, and driving sustainable growth for our shareholders.”
Founded in 2008, The Victory Bank is a Pennsylvania state-chartered commercial bank headquartered in Limerick Township, Montgomery County. Traded under the symbol VTYB, the company serves small and mid-sized businesses and professionals across Montgomery and Berks Counties with a full range of banking and lending services.
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