In Q1 2026, the company reported net income of $886,000, or $0.12 per share, compared to $537,000 in Q1 2025. In May 2026, the company authorized its third stock repurchase program for up to 10% of outstanding shares, demonstrating management confidence and shareholder-friendly capital allocation. Christopher Pribula succeeded William P. Taylor as CEO effective January 1, 2026.
Cyborg Score Rationale
The company showed improving profitability margins (11% in Q1 2026 vs. 7% in Q1 2025) and beat EPS estimates by 20% in Q1 2026, but remains small in scale with modest absolute earnings. Recent leadership transition and active capital returns signal management quality, though limited revenue size constrains growth potential.
Top Insights
Net income grew 65% year-over-year in Q1 2026 with profit margins expanding from 7% to 11%, showing operational leverage
Active capital return program: completed mutual-to-stock conversion in September 2023 and has executed three stock repurchase programs since then
Operates in six-county New Jersey market serving retail, commercial, and municipal clients with concentrated geographic footprint
Acquisition of Regal Bancorp in September 2023 continues to generate fair value accretion income
Named Competitors
Valley National Bank — Regional bank serving Northeast
Investors Bank — Mid-size regional bank in New Jersey and New York
M&T Bank — Large regional bank in Northeast
Recent Developments
(May 2026) Authorized third stock repurchase program for 10% of outstanding shares
(April 2026) Q1 2026 earnings: $886K net income ($0.12 EPS), up 65% vs. prior year
(January 2026) Christopher Pribula appointed CEO, succeeding William P. Taylor
(December 2025) Declared quarterly dividend of $0.05 per share
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