ELBERTON, Ga.--(BUSINESS WIRE)--Vallant Financial, Inc. (OTCQX: VLNT) (“Vallant”), the holding company of Vallant Bank, today announced its results of operations for the quarter ended June 30, 2026.

Vallant Financial, Inc. Quarterly Highlights:

• Completed full systems integration
• Implemented brand changeover
• First full quarter of combined operations post-merger
• Annualized ROAA (GAAP) of 0.98%
• Adjusted ROAA 1.59% (non-GAAP, excluding one-time merger-related expenses)
• Announced 10:1 stock split
• Opened new branch office in Augusta, GA

On July 1, 2026, Vallant completed a 10:1 forward stock split, and shares began trading on a split-adjusted basis on July 2, 2026. Because the split became effective after quarter-end, the accompanying financial statements are not adjusted for the stock split. Certain per-share information herein is presented on both a pre-split and split-adjusted basis where noted.

Vallant reported total assets of $3.98 billion as of June 30, 2026. This marks the first quarter end for the combined company (formerly Pinnacle Financial Corporation and Morris State Bancshares, Inc.). Loans totaled $2.94 billion net of a $38.0 million reserve. Total deposits of $3.44 billion are primarily community-based, core deposits. The company is well capitalized and supported by $469.6 million in total equity.

Net income for the three months ending June 30, 2026 totaled $9.8 million on a GAAP basis, which includes $8.03 million of one-time, merger-related expenses. Core net income (excluding one-time charges) totaled $15.8 million. Net interest income for the quarter totaled $41.3 million, and other non-interest income totaled $11.9 million. Driving the net income results is a healthy net interest margin of 4.55%.

Earnings per fully diluted share (GAAP) on a pre-split basis totaled $3.90 per share, or $0.39 per share on a split-adjusted basis. Adjusted for the one-time expenses, EPS equaled $6.31 pre-split or $0.63 on a split-adjusted basis. A dividend was declared during the quarter of $1.45 per share (pre-split).

The Bank’s asset quality remains solid, ending the quarter with total adversely classified assets to Tier 1 capital plus allowance of 13.33%.

Citing the work involved in the systems conversion and brand change to Vallant, company CEO Jackson McConnell stated, “I am pleased with the core results of the company given the challenges of merging two large community banks into one. We think the fundamentals here will drive continued strong results in the quarters ahead.”

David Voyles, CEO of Vallant Bank, added, “Our bankers have been fully focused on taking care of customers and looking for new opportunities despite the challenge of a systems conversion. It’s been a very busy but successful second quarter.”

Spence Mullis, President of Vallant Bank, commented, “We deeply appreciate the hard work of our team and the patience of our customers as we combined the brand and core technology systems of our bank. We are excited to now focus on growing our company and demonstrating our strength as Georgia’s premier community bank.”

About Vallant Financial

Vallant Financial, Inc. is a $3.98 billion asset, single bank holding company headquartered in Elberton, Georgia, and with offices throughout Northeast, Middle, and Southeast Georgia. Its bank subsidiary, Vallant Bank, has 36 branches in 22 counties of Georgia. Vallant Bank is an independent community bank, offering a wide range of personal and business financial services. Vallant Financial, Inc.’s investor relations website can be accessed at vallantfinancial.com. To learn more about products and services of Vallant Bank, including specialized offerings for all customers, visit www.vallant.bank.

Forward-looking Statements

Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with Vallant’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of Vallant makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; Vallant’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release.

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Vallant Financial, Inc.
Anna Grant Jones
706-213-3323

Source: Vallant Financial, Inc.