Highlights

  • Second quarter net income was $113.8 million, or $0.47 per diluted share, versus $91.4 million and $0.41 a year earlier.
  • Net interest income grew 9.1% to $212.8 million, and net interest margin widened to 4.40% from 4.26%.
  • Nonaccrual loans rose 23.4% to $55.1 million since year-end, though nonperforming loans were 0.49% of loans held for investment.
  • The board approved a new repurchase plan of up to $100 million on August 3, replacing the 2026 program.

Central Bancompany (NASDAQ:CBC) shares were trading near their 52-week high at USD 33.40 on October 21, 2026, down 0.46%. The Missouri bank holding company exchanged its Visa Class B-2 shares in May, approved a new $100 million repurchase plan on August 3, and filed its second quarter 2026 report on August 14.

Headquartered in Jefferson City, Missouri, Central Bancompany is a Missouri corporation and a bank holding company. Through its subsidiary The Central Trust Bank, it offers consumer, commercial and wealth management services in Missouri, Kansas, Oklahoma and Colorado, operating 159 full-service branches across 11 primary markets and 79 communities. It reports three segments: Consumer Banking, Commercial Banking and Wealth Management. The company had 2,971 full-time equivalent employees at June 30, 2026, and it reports on a calendar year.

Earnings Up With Wider Margin and Lower Efficiency Ratio

Net income for the quarter ended June 30, 2026 was $113.8 million, compared with $91.4 million a year earlier, and diluted earnings per share were $0.47 versus $0.41. Non-GAAP adjusted net income was $113.3 million, also $0.47 per share. For six months, net income was $224.9 million, or $0.94 per share, against $186.2 million and $0.84.

Net interest income rose 9.1% to $212.8 million, helped by growth in average earning assets and a net interest margin of 4.40%, up from 4.26%. Noninterest income increased to $69.6 million from $50.1 million and included a pre-tax gain of about $8.4 million from the Visa exchange offer. Noninterest expense rose 3.6% to $131.4 million. The efficiency ratio improved to 46.5% from 51.7%, and return on average assets was 2.24% versus 1.90%. The provision for credit losses was $3.5 million, compared with a small recovery a year earlier that reflected a $5.0 million reserve release.

Balance Sheet, Credit Quality and Capital Return

Total assets were $20.3 billion at June 30, 2026, down 2.2% from year-end as seasonal public-fund deposits flowed out. Deposits fell 3.1% to $15.4 billion, while loans held for investment grew 2.1% to $11.7 billion on commercial and residential real estate. Investment securities increased 10.1%, and stockholders' equity rose $82 million.

Credit metrics showed some pressure. Nonaccrual loans climbed $10.5 million to $55.1 million, mostly in non-owner-occupied commercial real estate and commercial, financial and agricultural credits. Management described the increase as isolated to a few borrower-specific relationships and not a broader weakening. The allowance for credit losses was $150.4 million, or 1.29% of loans, against 1.31% at year-end, and covered nonperforming loans 263%, down from 325%. Net charge-offs were $5.9 million for six months, versus $7.8 million.

The company's Tier 1 common equity ratio was 28.6% and its Tier 1 leverage ratio 17.9%. The holding company held $2.0 billion of liquidity. In the first half, it paid $57.7 million of dividends, including $0.12 per share in the second quarter, and repurchased $39.2 million of stock, including shares withheld for taxes on equity awards.

Repurchase Plan and Outlook

On August 3, 2026, the board terminated the 2026 Repurchase Program, which had about $11.3 million left, and approved a Second Repurchase Plan authorizing up to $100 million of common stock repurchases. The 10-Q does not give a repurchase timetable or earnings guidance.

Management said it will keep monitoring watch-list and substandard credits, particularly in non-owner-occupied commercial real estate and commercial, financial and agricultural loans, and will adjust the allowance as borrower performance or economic conditions change. The company is also working through a core modernization initiative, with $12 million capitalized to date, funded from operating cash flow, and it opened four new branches between June 2025 and June 2026. Its report notes that interim results are not necessarily indicative of full-year results.