1st Summit Bancorp of Johnstown Announces Third Quarter 2026 Results
1st Summit Continues Earnings Progress as Strong Loan Growth and Strategic Investments Strengthen the Franchise
JOHNSTOWN, Pa., October 16, 2026--1st Summit Bancorp of Johnstown, Inc. (OTCID: FSMK) (the "Company"), parent company of 1st Summit Bank, today announced net income of $2.55 million for the third quarter ended September 30, 2026, an increase of 2.3% compared to $2.49 million for the second quarter of 2026 and 49.7% compared to $1.70 million for the third quarter of 2025. Net income for the first nine months of 2026 totaled $7.3 million.
Third quarter results are a continuation of the progress established earlier in the year, with strong loan growth, further expansion in net interest margin, and stable credit quality. Net interest income increased 3.4% from the prior quarter, while noninterest expense increased just 0.6%, demonstrating continued discipline as the Company grows and invests in its future.
"Our third quarter results reflect the work that we have put into strengthening 1st Summit," said Allison Johnson, Chief Executive Officer of 1st Summit Bancorp. "During the third quarter, we grew loans at a double-digit annualized rate, maintained stable credit quality, and kept quarterly expense growth below 1%. We are particularly encouraged by our ability to grow the loan portfolio while also maintaining the strong underwriting standards that have served this Bank well."
She continued, "The progress is visible in our results, but it begins with our people and the relationships they build every day. Our team has remained focused on understanding customers' needs, earning their business, and managing the Bank with discipline. We believe that this commitment will continue to help us build a stronger earnings foundation while creating room to invest in the customer experience and the future of the franchise."
Balance Sheet Growth
Gross loans increased $24.2 million during the quarter to $941.5 million at September 30, 2026, representing annualized growth of 10.47%. Loans increased $60.2 million, or 9.1% annualized, from December 31, 2025. Quarterly loan growth was led by commercial real estate and construction, land and development lending.
Total deposits increased $13.9 million to $1.19 billion at September 30, 2026, representing annualized growth of 4.68%. Growth in interest-bearing demand deposits more than offset declines in time deposits and noninterest-bearing deposits during the third quarter of 2026. The loan-to-deposit ratio increased to 79.1% at September 30, 2026, compared to approximately 78.0% at June 30, 2026, as the Company continued to improve its earning asset mix.