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Bank of San Francisco Reports Third Quarter 2026 Financial Results
SAN FRANCISCO, CA /ACCESS Newswire/ November 2, 2026 /Bank of San Francisco (“the Bank”) (OTCQX:BSFO) today reported unaudited net income of $2.3 million, or $1.04 per diluted share for the three months ended September 30, 2026, compared to $1.7 million, or $0.76 per diluted share for the three months ended June 30, 2026, and $1.8 million, or $0.86 per diluted share for the three months ended September 30, 2025. For the nine months ended September 30, 2026, the Bank reported net income of $5.9 million, or $2.74 per diluted share, compared to $4.6 million, or $2.14 per diluted share, for the nine months ended September 30, 2025.
“We are pleased with the Bank’s performance through the first nine months of 2026,” said William Keller, Chief Executive Officer. “As we approach $1 billion in assets, we see the accelerating benefits of our relationship-focused strategy reflected in the continued growth of loans, deposits, and earnings. As a result, we are reporting our best earnings per share profitability in almost five years, and pre-tax, pre-provision results that are substantially above prior periods while maintaining strong asset quality, a solid capital position, and a commitment to the personal service that sets Bank of San Francisco apart.”
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Total assets were $930.4 million at September 30, 2026, an increase of $66.9 million, or 8% from June 30, 2026, and an increase of $232.0 million, or 33% from September 30, 2025.
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Net income for the quarter ended September 30, 2026, totaled $2.3 million, an increase of $603,000, or 36% from the quarter ended June 30, 2026, and an increase of $425,000, or 23% from the quarter ended September 30, 2025. Net income for the nine months ended September 30, 2026, totaled $5.9 million, an increase of $1.4 million, or 30% from the nine months ended September 30, 2025.
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Pre-tax, pre-provision income for the quarter ended September 30, 2026, totaled $3.7 million, an increase of $751,000, or 25% from the quarter ended June 30, 2026, and an increase of $760,000, or 26% from the quarter ended September 30, 2025. Pre-tax, pre-provision income for the nine months ended September 30, 2026, totaled $9.7 million, an increase of $2.3 million, or 31% from the nine months ended September 30, 2025.
“Relationship deposits, net of reductions in brokered deposits, increased $74.4 million during the quarter across all parts of the Bank. Our Laurel Village branch, which opened in January, grew by $18.7 million to $46.2 million, Private Banking grew by $27.5 million to $212.6 million, and Commercial Banking grew by $28.2 million to $489.8 million. It is especially rewarding to see the many long-term relationships our team has built continue to contribute to the Bank’s growth,” said Margaret Mak, Founder, Private Banking. “The loan mix continues to shift slightly toward commercial real estate as accelerated payoffs of legacy mortgages have limited net mortgage growth, while mortgage production remained strong. Year to date, mortgage originations totaled approximately $71 million, with 62% generated by Private Banking. These mortgages are true relationship loans. In aggregate, every dollar of mortgage and home equity lending has generated approximately 41 cents in deposits.”
