Cashmere Valley Bank (OTCQX:CSHX) announced its earnings for the third quarter of 2026, reporting $7.4 million, a slight decrease from $7.7 million in the same quarter of 2025. Year-to-date earnings reached $20.0 million, down from $22.1 million for the first nine months of 2025. The diluted earnings per share for the year to date was $5.43, marking a decline of $0.23 or 4.1%. However, the quarterly diluted earnings per share rose to $2.02, reflecting an increase of $0.05 or 2.5% compared to the third quarter of 2025.
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As of September 30, 2026, the bank's total deposit balances were $1.976 billion, up $75.2 million or 4.0% since December 31, 2025, and an increase of $78.6 million or 4.1% compared to the same period last year. Greg Oakes, President and CEO, expressed satisfaction with the quarterly performance and noted that the bank's market share in the Chelan and Douglas County MSA improved by 1.63 percentage points to 44.95% as of June 30, 2026.
Len Devaisher has begun his role as CEO Elect and will take over as President & CEO after Oakes retires on December 31, 2026. Devaisher stated, "I am thrilled to begin my role with Cashmere Valley Bank," emphasizing the bank's positive impact on customers and communities.
In additional highlights for the third quarter, gross loans reached $1.156 billion, a significant increase of $190.8 million or 19.8% from the previous year. Non-interest deposits accounted for $421.4 million, or 21.3% of total deposits, increasing by $11.2 million since September 30, 2025. The year-to-date return on assets was 1.17%, down from 1.37% the prior year, while the return on equity for the first nine months of 2026 was 10.36%, a decline from 12.24% in the previous year. For the third quarter, the return on equity was reported at 11.34%.