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WILLIAMSPORT -- Woodlands Financial Services Company (WFSCo.), the bank holding company of Woodlands Bank, reported its financial results for the second quarter and first six months of 2026.
WFSCo. trades its shares publicly on the OTCID Market under the symbol "WDFN." Woodlands Bank, the company's sole subsidiary, continues to serve customers through its network of community banking offices throughout Lycoming and Clinton counties and proudly stands as the only bank headquartered in Lycoming County.
With just under 1.4 million shares outstanding, the market value of the shares at the end of the second quarter was $31.99 per share, which then rose to as high as $35 per share in mid-August.
President and CEO Jon P. Conklin stated, "I could not be more pleased than I am about the financial results of the second quarter and first half of 2026. The results reflect the impact of the early successes experienced across the various departments of the bank in attracting new loan, deposit, trust and brokerage relationships. Based on feedback received from relationship managers across the bank, we believe these opportunities will continue to support growth while increasing the long-term shareholder value of the Woodlands franchise."
Net income for the second quarter of 2026 was $1.90 million, an increase of 52.2 percent compared to the second quarter of 2025.
For the first six months of 2026, net income totaled $3.58 million, an increase of 57 percent over the first six months of 2025. Net income per common share was $2.56 for the first six months of 2026 compared to $1.63 for the same period in the prior year.
Return on Average Assets (ROAA) and Return on Average Equity (ROAE) for the second quarter 2026 were 1.19 percent and 16.90 percent, respectively, compared to 0.81 percent and 13.22 percent, respectively, for the second quarter 2025. Similarly, ROAA and ROAE for the first half of 2026 were 1.14 percent and 16.07 percent, respectively, compared to those of the first half of 2025, which were 0.75 percent and 12.29 percent, respectively.
The net interest margin business will always be the main driver of net income in the community banking model; however, when this primary driver can be supplemented by a strong non-interest income source, it can serve to soften the volatility of the core margin business which fluctuates naturally due to movements in the interest-rate curve which are driven by both adjustments implemented by the Federal Reserve's Open Market Committee on the short end of the curve and changing bond market conditions on the mid and long portions of the curve. As the assets under management of both the brokerage and trust and investment management departments have increased to over $400 million, the non-interest income streams of these activities will become an even more significant factor in producing enhanced and stable net income and ultimately increased long-term shareholder value.
Total assets increased $6.8 million, or 1.1 percent, during the second quarter, ending at $640.1 million as of June 30, 2026. Loans, net of allowance for credit losses, increased $17.6 million, or 4.1 percent, during the quarter as demand for quality credit opportunities remained strong. Total deposits increased $4.4 million, or 0.8 percent, ending the quarter at $574.1 million. Particularly encouraging was the continued growth in non-interest-bearing deposits, which increased $7.3 million during the quarter and represented nearly 30 percent of total deposits at quarter-end. Management believes this mix of core deposits provides a stable source of funding that supports long-term earnings and balance sheet flexibility.
Looking ahead, management remains highly optimistic regarding the opportunities available to Woodlands Bank. As the only remaining community bank headquartered in Lycoming County, the Company is uniquely positioned to serve individuals, businesses, and organizations that value local decision-making and relationship-based banking. The performance achieved during the first six months of 2026 reflects the value of the Company's community banking model and provides a solid foundation for continued growth.
To find out more about products and services offered as well as its eight convenient locations across Lycoming and Clinton Counties, please check out Woodlands Bank's website at https://www.woodlandsbank.com. Also, should you or anyone you know have interest in becoming a shareholder of WDFN stock, please contact the in-house investor relations representative, Joe Farley, at 570-327-5263, or one of the market makers in WDFN stock, Eugene Bodo or Tom Dooley at Brean Capital at 212-702-6500.