Steele Bancorp, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 12, 2026, reporting third-quarter net income of $5.462 million and total assets of $1.275 billion.

Key Highlights

  • Net income (Q3 2026): $5.462 million, compared to $13.677 million in Q3 2025, which included a $17.827 million bargain purchase gain.
  • Nine-month net income: $15.597 million for the nine months ended September 30, 2026, versus $17.303 million for the same period in 2025.
  • Earnings per share: Basic and diluted EPS of $1.60 for Q3 2026 and $4.58 for the nine months ended September 30, 2026.
  • Total assets: $1.275 billion as of September 30, 2026, up from $1.261 billion at December 31, 2025.
  • Net interest income: $13.626 million for Q3 2026, compared to $9.864 million in Q3 2025; $38.500 million for the nine-month period versus $19.593 million a year earlier.
  • Total deposits: $1.123 billion as of September 30, 2026, compared to $1.111 billion at December 31, 2025.
  • Shares outstanding: 3,405,061 shares of voting common stock as of November 12, 2026.

Steele Bancorp Third-Quarter 2026 Financial Results

According to the filing, Steele Bancorp, Inc. reported net interest income of $13.626 million for the three months ended September 30, 2026, an increase from $9.864 million in the same quarter of 2025. Total interest and dividend income rose to $18.448 million from $14.419 million in Q3 2025, driven primarily by interest and fees on loans of $15.864 million versus $12.232 million a year earlier. Total interest expense was $4.822 million for Q3 2026, compared to $4.555 million in Q3 2025.

The company disclosed a provision for credit losses of $633 thousand in Q3 2026, sharply lower than the $4.228 million recorded in Q3 2025. Total noninterest income was $1.719 million in Q3 2026, compared to $19.032 million in Q3 2025; the prior-year quarter included a $17.827 million bargain purchase gain that did not recur. Total noninterest expense decreased to $8.122 million from $10.886 million, with merger-related expenses of zero in Q3 2026 versus $3.873 million in Q3 2025. Income taxes for Q3 2026 were $1.128 million, compared to $105 thousand in Q3 2025.

On the balance sheet, the filing reported total loans of $911.216 million and an allowance for credit losses of $10.431 million as of September 30, 2026, yielding net loans of $900.785 million. Total stockholders' equity was $126.681 million, though the filing also presents total stockholders' equity less maximum cash obligations related to ESOP shares of $119.596 million. Accumulated other comprehensive loss widened to $5.871 million from $1.144 million at December 31, 2025, reflecting unrealized losses on debt securities available-for-sale. The company disclosed that securities registered pursuant to Section 12(b) of the Act are listed as "None." The filing does not state an exchange or ticker symbol on its cover page.

What Was Disclosed

Steele Bancorp filed its unaudited quarterly report covering the three and nine months ended September 30, 2026, disclosing income statement, balance sheet, and equity figures, with 3,405,061 common shares outstanding and total assets of $1.275 billion.