News

Central Penn Bank & Trust Celebrates Employee Professional Achievements

marketing@centralpennbank.com (Central Penn Bank & Trust) — Fri, 07 Aug 2026 04:00:00 GMT

Central Penn Bank & Trust is proud to recognize two team members for their recent professional accomplishments, reflecting the bank's ongoing commitment to excellence and employee development. Tish Naugle has earned the Society for Human Resource Management Certified Professional (SHRM-CP) credential, and Ashley Boop has successfully graduated from Pennsylvania Bankers Advanced School of Banking. These achievements demonstrate their dedication to expanding their knowledge and expertise while strengthening the service Central Penn Bank & Trust provides to its customers and communities.

Steele Bancorp, Inc. Reports Second Quarter 2026 Earnings

marketing@centralpennbank.com (Central Penn Bank & Trust) — Fri, 17 Jul 2026 04:00:00 GMT

Press Release – For Immediate Release
Friday, July 17, 2026
Steele Bancorp, Inc. Reports Second Quarter 2026 Earnings

Mifflinburg, PA – Steele Bancorp, Inc. (“Company”) (OTCID: “STLE”), parent company of Central Penn Bank and Trust (“Bank”), has released its unaudited results of operations and financial condition for the second quarter of 2026. The 2026 results reflect the Company's merger with Northumberland Bancorp, Inc., completed on August 1, 2025, while the comparative 2025 periods reflect the Company pre-merger. Accordingly, the year-over-year results are not directly comparable.

Unaudited Financial Information
Net income, as reported under U.S. Generally Accepted Accounting Principles (“GAAP”), for the quarter ended June 30, 2026, was $5.26 million compared to $1.82 million for the same period in 2025, a 188.8% increase. Net income year-to-date for 2026 was $10.14 million compared to $3.63 million for the same period in 2025, a 179.5% increase. Basic and diluted earnings per share for the quarters ended June 30, 2026 and 2025 were $1.54 and $0.98 and $2.98 and $1.95 for the six months ended June 30, 2026 and 2025, respectively. Annualized return on average assets and return on average equity were 1.65% and 16.92% for the three-month period ended June 30, 2026 compared to 1.20% and 12.36% for the same period of 2025.

Net interest income for the three months ended June 30, 2026 was $12.66 million compared to $4.99 million for the same period in 2025, a 153.7% increase. Net interest income for the six months ended June 30, 2026 was $24.87 million compared to $9.73 million for the same period in 2025, a 155.6% increase. The significant increase in net interest income was primarily driven by higher interest income resulting from growth in loan and securities balances, partially offset by increased interest expense due to an increase in deposits resulting from the merger with Northumberland Bancorp ("Northumberland"). Yield on earning assets increased 70 basis points, to 6.04% for the quarter ended June 30, 2026 compared to 5.34% for the quarter ended June 30, 2025, and the cost of funds decreased 22 basis points, to 2.16%, as compared to the same time period in 2025. The net interest margin (GAAP) increased from 3.41% for the quarter ended June 30, 2025 to 4.31% for the quarter ended June 30, 2026. The tax-equivalent net interest margin (Non-GAAP) increased from 3.48% for the quarter ended June 30, 2025 to 4.38% for the quarter ended June 30, 2026. The tax equivalent adjustment increased from $102 thousand for the quarter ended June 30, 2025 to $205 thousand for the quarter ended June 30, 2026. Yield on earning assets increased 61 basis points, to 5.90% for the six months ended June 30, 2026 compared to 5.29% for the six months ended June 30, 2025, and the cost of funds decreased 15 basis points, to 2.21%, as compared to the same time period in 2025. The net interest margin (GAAP) increased from 3.36% for the six months ended June 30, 2025 to 4.17% for the six months ended June 30, 2026. The tax equivalent net interest margin (Non-GAAP) increased from 3.43% for the six months ended June 30, 2025 to 4.22% for the six months ended June 30, 2026. The tax equivalent adjustment increased from $207 thousand for the six months ended June 30, 2025 to $311 thousand for the six months ended June 30, 2026.

The Bank recorded a provision for credit losses for loans of $212 thousand for the three months ended June 30, 2026, compared to a provision of $192 thousand for the three months ended June 30, 2025. The Bank recorded a provision for credit losses for loans of $78 thousand for the six months ended June 30, 2026, compared to a provision of $262 thousand for the six months ended June 30, 2025. The Bank recorded a recovery of credit losses for off balance sheet credit exposures of $93 thousand for the three months ended June 30, 2026, compared to a recovery of $36 thousand for the three months ended June 30, 2025. The Bank recorded a recovery of credit losses for off balance sheet exposures of $93 thousand for the six months ended June 30, 2026, compared to a recovery of $100 thousand for the six months ended June 30, 2025. Noninterest income increased by $1.36 million, or 258.4%, to $1.89 million for the three months ended June 30, 2026, from the $527 thousand recognized during the same period of 2025. Noninterest income for the six months ended June 30, 2026 was $3.46 million compared to $1.11 million for the same period in 2025, a 210.7% increase. The increase in noninterest income is primarily due to the addition of trust fee income resulting from the merger with Northumberland and increases in ATM fees and debit card income due to increased utilization and volume.

Noninterest expense increased $4.85 million or 155.0%, from $3.13 million for the three months ended June 30, 2025, to $7.99 million for the three months ended June 30, 2026. The increase in noninterest expense for the three months ended June 30, 2026 is primarily the result of an increase of $2.55 million in salaries and employee benefits and amortization of core deposit intangible of $666 thousand for which there was no comparable expense in 2025. Noninterest expense for the six months ended June 30, 2025 was $6.23 million compared to $15.98 million for the same period in 2026, a 156.6% increase. The increase in noninterest expense year-to-date is primarily the result of an increase of $5.18 million in salaries and employee benefits, amortization of core deposit intangible of $1.33 million for which there was no comparable expense in 2025 and an increase of $1.56 million in other expenses. All increases are the direct result of the merger with Northumberland.

An income tax provision of $1.18 million was recorded for the three months ended June 30, 2026, compared to $407 thousand for the three months ended June 30, 2025, a 190.4% increase. An income tax provision of $2.22 million was recorded for the six months ended June 30, 2026, compared to an income tax provision of $827 thousand for the same period in 2025, a 168.8% increase. The increase in the income tax provision quarter-to-date is directly the result of an increase in income before income tax to $6.44 million for the three months ended June 30, 2026, compared to $2.23 million for the three months ended June 30, 2025, a 189.1% increase. The increase in the income tax provision year-to-date is directly the result of an increase in income before income tax to $12.36 million for the six months ended June 30, 2026, compared to $4.45 million for the six months ended June 30, 2025, a 177.5% increase. Quarter-to-date and year-to-date the effective tax rate was 18.4% and 18.0% of June 30, 2026, compared to 18.3% and 18.6% as of June 30, 2025, respectively.

Financial Condition
Total assets increased to $1.27 billion as of June 30, 2026 from $1.26 billion as of December 31, 2025, an increase of $12.29 million, or 1.0%. Cash and cash equivalents increased $5.02 million from December 31, 2025 to June 30, 2026. Net loans increased by $5.77 million, and securities available for sale increased $4.45 million. Total deposits increased $9.92 million from December 31, 2025 to June 30, 2026, subordinated debt decreased $9.89 million from December 31, 2025 to June 30, 2026 as result of paying off the borrowing at the call date and senior secured debt, less unamortized issuance costs increased $7.37 million as result of the new debt issuance executed on June 26, 2026. When compared to December 31, 2025, stockholders’ equity, excluding accumulated other comprehensive loss, increased $7.55 million to $127.09 million as of June 30, 2026. Steele Bancorp, Inc. remains well capitalized, and the total equity-to-assets was 9.77% and 9.39% as of June 30, 2026 and December 31, 2025, respectively. The Bank maintained a strong liquidity position as of June 30, 2026, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $448.13 million and $4.48 million in additional borrowing capacity from the Federal Reserve’s Discount Window.

About Steele Bancorp, Inc.
Steele Bancorp, Inc. is a bank holding company headquartered in Mifflinburg, Pennsylvania. The Company has one subsidiary bank, Central Penn Bank & Trust, serving individuals, families, nonprofits, and business clients through 13 banking offices located in Centre, Northumberland, Snyder, and Union counties. The Bank has 174 employees as of June 30, 2026.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties related to integration following the merger with Northumberland; the risk that the anticipated benefits, cost savings and other savings from the merger may not be fully realized or may take longer than expected to realize; changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; the impact to the economy resulting from the conflict with Iran; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Central Penn Bank & Trust Promotes Five Team Members

marketing@centralpennbank.com (Central Penn Bank & Trust) — Mon, 15 Jun 2026 04:00:00 GMT

Central Penn Bank & Trust is proud to announce the promotion of five employees whose leadership, dedication to serving customers and local communities, and commitment to advancing the organization’s mission have contributed to its continued success. Thomas Eberhart was promoted to Senior Executive Vice President and Chief Operating Officer; Lisa Lapp to Senior Vice President and Branch Administration Officer; Brian Neitz to Senior Vice President and Chief Credit Officer; J. Todd Troxell to Senior Executive Vice President and Chief Banking Officer; and Torey Goff to Associate Vice President and Director of Marketing.

Thomas Eberhart brings more than 40 years of banking experience to his role, having begun his career with legacy Mifflinburg Bank & Trust in 1984 Throughout his tenure, he has developed expertise across numerous areas of banking, including accounting, finance, operations, information technology, and risk management.

He earned a Bachelor of Science degree in Accounting and completed advanced coursework through the Pennsylvania Bankers Association’s Advanced School of Banking and School of Commercial Lending. Over the years, Tom has played an integral role in the bank’s strategic growth, particularly in the adoption of technology and initiatives that support the long-term success of Central Penn Bank & Trust.

Tom resides in the Mifflinburg area with his wife, Brenda. He is actively involved in the community, serving on the boards of several local organizations, including the Mifflinburg Area School District, where he currently serves as President, the Central Susquehanna Intermediate Unit, and the West Buffalo Zoning Hearing Board. In his personal time, he enjoys staying active as an avid bicyclist and runner.

Lisa Lapp has been promoted to Senior Vice President, Branch Administration Officer. She brings 16 years of banking experience to her role and joined the bank in 2020 as Assistant Branch Administrator. She was promoted to Assistant Vice President, Branch Operations and Security Officer in 2023, followed by Vice President, Operations and Security Officer in 2024, before advancing to her current position. She also serves on the bank’s Senior Management Team and has enjoyed the variety of opportunities and challenges the banking industry offers throughout her career.

A graduate of Warrior Run High School, Lisa grew up on a farm in Turbotville and currently resides in New Columbia. She and her husband have three children and five grandchildren. In her free time, Lisa enjoys spending time with her grandchildren, reading, listening to music, and traveling to Montana for hiking, photography, and wildlife viewing.

Brian Neitz has been promoted to Senior Vice President and Chief Credit Officer. He joined Mifflinburg Bank & Trust in 2012 as a Community Relationship Manager and most recently served as the Vice President, Chief Credit Officer. Brian earned a Bachelor of Science degree in Accounting from Bloomsburg University in 1995. He is a 2013 graduate of the Pennsylvania Bankers Association Advanced School of Banking and a 2014 graduate of the PBA School of Commercial Lending. He is also a 2007 graduate of Leadership Susquehanna Valley.

Brian has served on the Board of Directors of the Susquehanna River Valley Dental Health Clinic since 2009 and currently serves as Co-Chairman and Treasurer. He and his wife have two children and reside in Sunbury.

J. Todd Troxell has been promoted to Senior Executive Vice President and Chief Banking officer. Todd joined Northumberland National Bank in 1998 and most recently served as President and Chief Executive Officer. He earned a bachelor’s degree in Corporate Financial Management from Susquehanna University and an MBA from Bloomsburg University. Todd is also a graduate of the Central Atlantic School of Commercial Lending at Bucknell University and the American Bankers Association’s Stonier Graduate School of Banking, which included a leadership certificate program through The Wharton School of the University of Pennsylvania.

Todd serves as Treasurer and longtime board member of SUN Habitat for Humanity. He and his wife, Jennifer, have two children and reside in the Selinsgrove area. In his free time, Todd enjoys playing guitar, fishing, and boating with his family on the Susquehanna River and along the East Coast.

Torey Goff has been promoted to Associate Vice President, Director of Marketing at Central Penn Bank & Trust. A graduate of Lasell College with a Bachelor of Science degree in Hospitality & Event Management, Torey joined the Mifflinburg Bank & Trust team in 2016 as a Teller/Customer Service Representative and was promoted to a Community Relationship Manager in 2018.

In 2022, Torey transitioned into the Marketing Coordinator role, where she played a key role in the branding redesign and transition to Central Penn Bank & Trust, helping shape the bank’s refreshed identity and marketing strategy.

A 2022 graduate of Leadership Susquehanna Valley, Torey most recently served as co-chair of the organization’s Public Relations Committee. She resides in Mifflinburg with her husband and son and enjoys traveling and creating memories with her loved ones.

Steele Bancorp, Inc., Reports First Quarter 2026 Earnings

marketing@centralpennbank.com (Central Penn Bank & Trust) — Mon, 20 Apr 2026 04:00:00 GMT

Press Release – For Immediate Release
Monday, April 20, 2026
Steele Bancorp, Inc., Reports First Quarter 2026 Earnings

Mifflinburg, PA – Steele Bancorp, Inc. (“Company”) (OTCID Pink: “STLE”), parent company of Central Penn Bank and Trust (“Bank”), has released its unaudited results of operations and financial condition for the first quarter of 2026.

Unaudited Financial Information
Net income, as reported under U.S. Generally Accepted Accounting Principles (“GAAP”), for the quarter ended March 31, 2026, was $4.88 million compared to $1.81 million for the same period in 2025, a 170.1% increase. Basic and diluted earnings per share for the quarters ended March 31, 2026 and 2025 were $1.43 and $0.97, respectively. Return on average assets and return on average equity were 1.56% and 16.31% for the period ended March 31, 2026 compared to 1.20% and 12.66% for the same period of 2025.

Net interest income for the three months ended March 31, 2026 was $12.21 million compared to $4.74 million for the same period in 2025, a 157.5% increase. The significant increase in net interest income was primarily driven by higher interest income resulting from growth in loan and securities balances, partially offset by increased interest expense due to an increase in deposits resulting from the merger with Northumberland Bancorp ("Northumberland"). Yield on earning assets increased 66 basis points, to 5.90% for the quarter ended March 31, 2026 compared to 5.24% for the quarter ended March 31, 2025, and the cost of funds decreased 14 basis points, to 2.21%, as compared to the same time period in 2025. The net interest margin increased from 3.38% for the quarter ended March 31, 2025 to 4.21% for the quarter ended March 31, 2026.

The Bank recorded a recovery of credit losses for loans of $134 thousand for the three months ended March 31, 2026, compared to a provision of $70 thousand for the three months ended March 31, 2025. The Bank did not record a recovery of or provision for credit losses for off balance sheet credit exposures for the quarter ended March 31, 2026. The Bank recorded a recovery of credit losses for off balance sheet credit exposures of $63 thousand for the quarter ended March 31, 2025.

Noninterest income increased by $982 thousand, or 167.9%, to $1.57 million for the three months ended March 31, 2026, from the $585 thousand recognized during the same period of 2025. The increase in noninterest income for the quarter ended March 31, 2026 is primarily due to the addition of trust fee income resulting from the merger with Northumberland and increases in ATM fees and debit card income due to increased utilization and volume.

Noninterest expenses increased $4.90 million or 158.2%, from $3.10 million for the three months ended March 31, 2025, to $7.99 million for the three months ended March 31, 2026. The increase in noninterest expense is primarily the result of an increase of $2.63 million in salaries and employee benefits and amortization of core deposit intangible of $666 thousand for which there was no comparable expense in 2025.

An income tax provision of $1.04 million was recorded for the three months ended March 31, 2026, compared to $419 thousand for the three months ended March 31, 2025, a 148.4% increase. The increase in the income tax provision is directly the result of an increase in income before income tax to $5.92 million as of March 31, 2026, compared to $2.23 million as of March 31, 2025, a 166.0% increase resulting from the merger with Northumberland. The effective tax rate was 17.6% as of March 31, 2026, compared to 18.8% as of March 31, 2025.

Financial Condition
Total assets increased to $1.27 billion as of March 31, 2026 from $1.26 billion as of December 31, 2025, an increase of $7.31 million, or 0.6%. Cash and cash equivalents increased $8.36 million from December 31, 2025 to March 31, 2026. Net loans decreased by $1.12 million, securities available for sale decreased $121 thousand and core deposit intangible decreased $666 thousand from December 31, 2025 to March 31, 2026. Total deposits increased $4.43 million from December 31, 2025 to March 31, 2026 and Federal Home Loan Bank advances decreased $1.00 million from December 31, 2025 to March 31, 2026.

When compared to December 31, 2025, stockholders’ equity, excluding accumulated other comprehensive loss, increased $4.88 million to $124.42 million as of March 31, 2026. Steele Bancorp, Inc. remains well capitalized, with a total equity-to-assets ratio of 9.63% and 9.39% as of March 31, 2026 and December 31, 2025, respectively.

The Bank maintained a strong liquidity position as of March 31, 2026, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $453.89 million and $4.60 million in additional borrowing capacity from the Federal Reserve’s Discount Window.

About Steele Bancorp, Inc.
Steele Bancorp, Inc. is a bank holding company headquartered in Mifflinburg, Pennsylvania. The Company has one subsidiary bank, Central Penn Bank & Trust, serving individuals, families, nonprofits, and business clients through 13 banking offices located in Centre, Northumberland, Snyder, and Union counties. The Bank has 173 employees as of March 31, 2026.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties related to integration following the merger with Northumberland; the risk that the anticipated benefits, cost savings and other savings from the merger may not be fully realized or may take longer than expected to realize; changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; the impact to the economy resulting from the conflict with Iran; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Steele Bancorp, Inc., Reports Fourth Quarter 2025 Earnings

marketing@centralpennbank.com (Central Penn Bank & Trust) — Wed, 04 Feb 2026 05:00:00 GMT

Press Release - For Immediate Release
Tuesday, February 3, 2026
Steele Bancorp, Inc., Reports Fourth Quarter 2025 Earnings

Mifflinburg, PA – Steele Bancorp, Inc. (“Company”) (OTCID Pink: “STLE”), parent company of Central Penn Bank and Trust (“Bank”), has released its unaudited consolidated financial statements for the fourth quarter of 2025.

Merger with Northumberland Bancorp

On August 1, 2025, Mifflinburg Bancorp, Inc. ("Mifflinburg") completed its previously announced merger with Northumberland Bancorp ("Northumberland") pursuant to an Agreement and Plan of Merger, dated as of September 24, 2024, as amended December 4, 2024 (the "Merger Agreement"), by and between Mifflinburg and Northumberland. Under the terms of the Merger Agreement, (i) Northumberland merged with and into Mifflinburg, with Mifflinburg being the surviving entity, and (ii) Northumberland's wholly-owned banking subsidiary, The Northumberland National Bank ("Norry Bank"), merged with and into Mifflinburg's wholly-owned banking subsidiary, Mifflinburg Bank and Trust Company ("Mifflinburg Bank"), with Mifflinburg Bank being the surviving bank (the "Mergers"). In connection with the Mergers, Mifflinburg changed its name to Steele Bancorp, Inc. and Mifflinburg Bank changed its name to Central Penn Bank & Trust (“Central Penn”).

In connection with the completion of the merger, former Northumberland shareholders received 1.185 shares of the Company’s common stock for each share of Northumberland common stock. The value of the total transaction consideration was approximately $40.45 million. The consideration included the issuance of 1,546,725 shares of the Company’s common stock, which had a value of $26.00 per share, which was the closing price of the Company’s common stock on July 31, 2025, the last trading day prior to the consummation of the acquisition. Also included in the total consideration was cash in lieu of any fractional shares and the cash paid for dissenter's rights effectively settled upon closing.

In connection with the acquisition, the Company recorded a bargain purchase gain of $17.83 million and a core deposit intangible asset of $14.66 million. Subsequent to the merger date, measurement period adjustments were made adjusting the bargain purchase gain to $18.30 million. Assets acquired included gross loans valued at $427.07 million, available-for-sale debt securities valued at $165.66 million, bank-owned life insurance valued at $14.85 million and premises and equipment, net, valued at $9.74 million. Liabilities assumed included deposits valued at $597.06 million, borrowings valued at $20.12 million, and subordinated debt valued at $9.75 million. The fair value adjustments made to the acquired assets and liabilities of Northumberland are considered preliminary at this time and are subject to change as the Company finalizes its fair value determinations. The assets purchased and liabilities assumed in the acquisition were recorded at their preliminary estimated fair values at the time of closing and may be adjusted for up to one year subsequent to the acquisition.

For the year ended December 31, 2025, the Company incurred pre-tax merger-related expenses related to the Northumberland transaction of $5.52 million, including expenses totaling $1.40 million in the fourth quarter 2025. Merger-related expenses include voluntary severance and similar expenses as well as expenses related to the termination of Northumberland’s core banking system contract and legal and other professional expenses. During the third quarter 2025, the Company recorded a provision for credit losses of $4.01 million for acquired non-Purchase Credit Deteriorated (“PCD”) loans.

Unaudited Financial Information

Net income, as reported under U.S. Generally Accepted Accounting Principles (“GAAP”), for the quarter-ended December 31, 2025, was $5.59 million compared to $421 thousand for the same period in 2024, a 1,226.6% increase. Net income year-to-date for 2025 was $22.89 million compared to $4.48 million for the same period in 2024, a 410.8% increase. Net income for the quarter and year ended December 31, 2025, was significantly impacted by bargain purchase gain and merger related expenses, as described in further detail in the Merger with Northumberland Bancorp section above. Basic and diluted earnings per share for the quarters-ended December 31, 2025 and 2024 were $1.64 and $0.23, respectively. Return on average assets and return on average equity were 2.60% and 27.77% for the year ended December 31, 2025 compared to 0.78% and 7.98% for the same period of 2024.

Net interest income for the three months ended December 31, 2025 was $12.25 million compared to $4.52 million for the same period in 2024, a 171.0% increase. Net interest income for the year ended December 31, 2025 was $31.85 million compared to $16.67 million for the same period in 2024, a 91.0% increase. The significant increase in net interest income is primarily driven by the increase in loans and securities balances due to the merger with Northumberland and by market interest rates starting to decline thus decreasing the cost of funds. Yield on earning assets increased 159 basis points, to 6.11% for the quarter-ended December 31, 2025 compared to the quarter-ended December 31, 2024, and the cost of funds increased 17 basis points, to 2.29%, as compared to the same time period in 2024. The net interest margin increased from 2.78% for the quarter-ended December 31, 2024 to 4.32% for the quarter-ended December 31, 2025.

The Bank recorded a provision for credit losses of $801 thousand for the three months ended December 31, 2025, compared to a provision of $512 thousand for the three months ended December 31, 2024. The Bank recorded a provision for credit losses of $5.19 million for the year ended December 31, 2025, which included a provision for credit losses for loans of $4.85 million and a provision for credit losses for unfunded commitments of $340 thousand. The Bank recorded a provision for credit losses of $680 thousand for the year ended December 31, 2024.

Non-interest income increased by $1.90 million, or 332.1%, to $2.48 million for the three months ended December 31, 2025, from the $573 thousand recognized during the same period of 2024. Non-interest income increased by $20.69 million, or 1050.1%, to $22.66 million for the year ended December 31, 2025, from the $1.97 million recognized during the same period of 2024. The increase in non-interest income for the quarter and year ended December 31, 2025 is primarily due to the bargain purchase gain of $477 thousand for the quarter and $18.30 million for the year recognized in association with the merger with Northumberland, respectively.

Non-interest expenses increased $4.50 million or 111.9%, from $4.02 million for the three months ended December 31, 2024, to $8.52 million for the three months ended December 31, 2025. The increase in non-interest expense is primarily the result of an increase of $1.08 million in salaries and employee benefits and an increase of $965 thousand in merger expenses due to the merger with Northumberland. Non-interest expenses increased $13.08 million or 103.9%, from $12.59 million for the year ended December 31, 2024, to $25.66 million for the year ended December 31, 2025. The increase in non-interest expense year-to-date is primarily the result of an increase of $4.98 million in merger related expenses and an increase of $3.78 million in salaries and employee benefits due to the merger with Northumberland.

An income tax benefit of $172 thousand was recorded for the three months ended December 31, 2025, compared to an income tax provision of $144 thousand for the three months ended December 31, 2024. An income tax provision of $760 thousand was recorded for the year ended December 31, 2025, compared to an income tax provision of $894 thousand for the same period in 2024, a 15.0% decrease. The decrease in income tax expense was due to increased non-taxable income offset by nondeductible merger expenses in 2025 as compared to 2024. Included in non-interest income is the bargain purchase gain of $18.30 million, which is non-taxable as result of the tax-free exchange associated with the acquisition of Northumberland.

Financial Condition

Total assets increased to $1.26 billion as of December 31, 2025 from $596.70 million as of December 31, 2024, an increase of 111.3%. Cash and cash equivalents increased $39.83 million from December 31, 2024 to December 31, 2025. Net loans increased by $476.31 million, or 110.3%, securities available for sale increased $104.75 million and core deposit intangible increased $13.55 million from December 31, 2024 to December 31, 2025. Total deposits increased $621.25 million from December 31, 2024 to December 31, 2025, Federal Home Loan Bank advances decreased $37.55 million from December 31, 2024 to December 31, 2025, and subordinated debt increased $9.89 million from December 31, 2024 to December 31, 2025. All increases are primarily the result of the acquisition of Northumberland.

When compared to December 31, 2024, stockholders’ equity, excluding accumulated other comprehensive loss, increased $59.20 million to $119.54 million as of December 31, 2025. Steele Bancorp, Inc. remains well capitalized, with a total equity-to-assets ratio of 9.39% and 9.37% as of December 31, 2025 and December 31, 2024, respectively.

The Bank maintained a strong liquidity position as of December 31, 2025, with additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $432.94 million and $4.79 million in additional borrowing capacity from the Federal Reserve’s Discount Window.

About Steele Bancorp, Inc.

Steele Bancorp, Inc. is a bank holding company headquartered in Mifflinburg, Pennsylvania. The Company has one subsidiary bank, Central Penn Bank & Trust, serving individuals, families, nonprofits, and business clients through 13 banking offices located in Centre, Northumberland, Snyder, and Union counties. The Bank has 177 employees as of December 31, 2025.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties related to integration following the merger; the risk that the anticipated benefits, cost savings and other savings from the merger may not be fully realized or may take longer than expected to realize; potential impairment to the goodwill recorded in connection with the merger; changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Steele Bancorp, Inc. Declares Dividend

marketing@centralpennbank.com (Central Penn Bank & Trust) — Mon, 24 Nov 2025 05:00:00 GMT

Mifflinburg, PA – Steele Bancorp, Inc. (OTCID Pink: “STLE”) (“Steele”), the bank holding company for Central Penn Bank & Trust, announced that on November 20, 2025, Steele’s Board of Directors declared a regular semi-annual cash dividend.

Dividend Declared

On November 20, 2025, Steele’s Board of Directors declared a regular semi-annual cash dividend of $0.75 per share for the year-ended December 31, 2025. The dividend is payable December 29, 2025, to shareholders of record as of December 15, 2025. Year-to-date dividends declared in 2025 total $1.49 per share compared to $1.45 per share for the same period in 2024.

About Steele Bancorp, Inc.

Steele Bancorp, Inc. is the bank holding company for Central Penn Bank & Trust, headquartered in Mifflinburg, Pennsylvania. Central Penn Bank & Trust is a full-service commercial bank, serving customers from thirteen locations in Centre, Northumberland, Snyder, and Union counties in central Pennsylvania. The Bank has 172 employees and total assets of $1.25 billion as of September 30, 2025.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties related to integration following the merger with Northumberland Bancorp; the risk that the anticipated benefits, cost savings and other savings from the merger may not be fully realized or may take longer than expected to realize; potential impairment to the goodwill recorded in connection with the merger; changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and any other risks described in the “Risk Factors” sections of reports filed by the Corporation with the Securities and Exchange Commission. We do not undertake, and specifically disclaim, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.

Mifflinburg Bancorp, Inc., and Northumberland Bancorp Complete Strategic Merger of Equals

marketing@centralpennbank.com (Central Penn Bank & Trust) — Fri, 01 Aug 2025 04:15:00 GMT

August 1, 2025, Mifflinburg, Pa. – Jeffrey J. Kapsar, President and Chief Executive Officer of Steele Bancorp, Inc. (OTCID Pink: “STLE”), announced today the completion of the merger of Northumberland Bancorp (“Northumberland”) with and into Mifflinburg Bancorp, Inc. (“Mifflinburg”), and the merger of The Northumberland National Bank (“Norry Bank”) with and into Mifflinburg Bank and Trust Company (“Mifflinburg Bank”). In connection with the mergers, effective August 1, 2025, Mifflinburg changed its name to Steele Bancorp, Inc. (“Steele”), and Mifflinburg Bank changed its name to Central Penn Bank & Trust (“Central Penn”)..

Jeffrey Kapsar said, “We are very pleased to announce the successful completion of the merger between two longstanding pillars of our valley. This union represents a significant milestone in our shared commitment to delivering strength, stability, and personalized financial solutions to the communities we serve. Together, we are building a stronger, more innovative institution rooted in trust, driven by service, and focused on the future.”

Following the merger, the combined company has total assets of approximately $1.34 billion, deposits of approximately $1.16 billion, and loans of approximately $904 million, serving individuals, families, nonprofits and business clients in Centre, Northumberland, Snyder and Union counties through 13 banking offices and online at [www.centralpennbank.com].

The Steele leadership team includes J. Donald Steele, Chairman of Steele and Central Penn; Jeffrey J. Kapsar, President and Chief Executive Officer of Steele and Central Penn; Thomas C. Graver, Senior Executive Vice President and Chief Financial Officer of Steele and Central Penn; J. Todd Troxell, Corporate Secretary of Steele and Senior Executive Vice President, and Chief Administrative Officer of Central Penn; and Thomas C. Eberhart, Executive Vice President and Chief Operating Officer of Central Penn.

"This is exciting,” said J. Todd Troxell. “Two similar community banks, each in existence for more than a century, are coming together in a strategic merger of equals creating a greater expanded footprint in which to compete. Our customers will benefit from the scale and varied talent of the combined organization while they continue to enjoy the personal service this stronger community bank will provide with enhanced products and services. Shareholders will enjoy a sound investment in a larger bank with continued strong capital, earnings, and dividends. This merger will provide more career opportunities for our employees as well."

The combination of Mifflinburg and Northumberland is the result of a long-term relationship built over many years between the management teams of each company.
In accordance with the merger agreement, Northumberland shareholders will receive 1.1850 shares of Steele common stock for each share of Northumberland common stock they own, and cash in lieu of fractional shares.

The Kafafian Group, Inc. served as financial advisor to Mifflinburg and Stevens & Lee served as its legal counsel. Alden Investment Group served as financial advisor and provided a fairness opinion to Northumberland Bancorp, with Mette, Evans & Woodside serving as its legal counsel.

ABOUT STEELE BANCORP, INC.
Steele Bancorp, Inc. (“Steele”) is a bank holding company headquartered in Mifflinburg, Pennsylvania. Steele has one subsidiary bank, Central Penn Bank & Trust, serving individuals, families, nonprofits, and business clients through 13 banking offices located in Centre, Northumberland, Snyder, and Union counties. Steele common stock is traded over the counter (OTCID Pink) under the symbol “STLE”.

Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about Steele Bancorp, Inc. (together with its bank subsidiary Central Penn Bank & Trust, unless the context otherwise requires, “Steele”) may include beliefs, goals, intentions, and expectations and involve substantial risks and uncertainties. Statements other than statements of current or historical fat, including statements including statements regarding Steele’s future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to Steele, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) costs or difficulties related to integration following the merger; (2) the risk that the anticipated benefits, cost savings and any other savings from the transaction may not be fully realized or may take longer than expected to materialize; (3) changes to interest rates; (4) the ability to control costs and expenses; (5) general economic conditions; (6) adverse developments in borrower industries and, in particular, declines in real estate values; (7) Steele’s ability to maintain compliance with federal and state laws that regulate its business and capital levels; (8) Steele’s ability to raise capital as needed by its business; and (9) the other factors discussed in other reports Steele may file with the Securities and Exchange Commission (“SEC”). Steele does not undertake, and specifically disclaims any obligation, to publicly release any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.