CBK has achieved notable margin resilience, with gross margins expanding to 70.5% in 2026Q1 even as quarterly revenue contracted from $34.0 million in 2024Q4 to $30.8 million.
| Sales/Revenue | 129.15M | - | - | - |
| Revenue Growth % | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - |
| COGS % of Revenue | - | - | - | - |
| Gross Profit | 90.14M | 90.21M | 85.87M | 78.39M |
| Gross Margin % | 69.8% | 68.58% | 64.41% | 69.87% |
| Gross Profit Growth % | - | 5.05% | 9.54% | - |
| Operating Expenses | 41.73M | 42.48M | 45.3M | 38.7M |
| OpEx % of Revenue | - | 32.3% | 33.98% | 34.49% |
| Selling, General & Admin | 24.94M | 26.03M | 26M | 21.78M |
| SG&A % of Revenue | - | 19.79% | 19.5% | 19.41% |
| Research & Development | 0 | - | - | - |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - |
| Operating Income | 48.42M | 47.42M | 40.57M | 39.69M |
| Operating Margin % | 37.49% | 36.05% | 30.43% | 35.38% |
| Operating Income Growth % | - | 16.87% | 2.22% | - |
| EBITDA | 49.67M | 49.56M | 45.17M | 43.23M |
| EBITDA Margin % | 38.46% | 37.67% | 33.87% | 38.53% |
| EBITDA Growth % | - | 9.72% | 4.47% | - |
| D&A (Non-Cash Add-back) | 1.25M | 2.14M | 4.59M | 3.54M |
| EBIT | 48.42M | 47.42M | 40.57M | 39.69M |
| Net Interest Income | 81.41M | 80.43M | 77.58M | 72.1M |
| Interest Income | 120.15M | 121.6M | 123.21M | 102.64M |
| Interest Expense | 38.73M | 41.17M | 45.63M | 30.54M |
| Other Income/Expense | 0 | - | - | - |
| Pretax Income | 48.42M | 47.42M | 40.57M | 39.69M |
| Pretax Margin % | 37.49% | 36.05% | 30.43% | 35.38% |
| Income Tax | 10.6M | 10.22M | 8.89M | 8.48M |
| Effective Tax Rate % | 21.9% | 21.56% | 21.9% | 21.36% |
| Net Income | 37.81M | 37.2M | 31.41M | 30.69M |
| Net Margin % | 29.28% | 28.28% | 23.56% | 27.35% |
| Net Income Growth % | - | 18.42% | 2.34% | - |
| Net Income (Continuing) | 37.81M | 37.2M | 31.69M | 31.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 5.4M |
| EPS (Diluted) | 2.76 | 2.92 | 2.54 | 2.51 |
| EPS Growth % | - | 14.96% | 1.2% | - |
| EPS (Basic) | - | 2.93 | 2.58 | 2.52 |
| Diluted Shares Outstanding | 13.71M | 13.84M | 12.37M | 12.23M |
| Basic Shares Outstanding | 13.7M | 13.84M | 12.17M | 12.18M |
| Dividend Payout Ratio | - | 5.38% | 6.38% | 4.87% |
Revenue contraction and stagnation
According to the provided quarterly income statements, CBK has experienced a consistent decline in top-line performance, with revenue falling from $34.0 million in 2024Q4 to $30.8 million by 2026Q1, representing a concerning multi-period trend that warrants close scrutiny regarding the bank's core deposit and lending growth.
The steady erosion of revenue suggests potential challenges in maintaining market share or competitive pricing within its regional footprint. Investors should monitor whether this downward trajectory reflects a strategic pivot toward asset quality over volume or a broader inability to capture new business in a tightening interest rate environment.
As reported in financial statements, CBK has demonstrated notable margin resilience, with gross margins expanding from 66.0% in 2024Q4 to 70.5% in 2026Q1, suggesting that the firm is successfully managing its cost of funds despite the ongoing contraction in total top-line revenue generation.
The ability to expand gross margins while revenue declines implies effective management of interest-earning asset yields relative to funding costs. This performance appears to indicate a focus on high-quality lending, though the sustainability of such margins may be tested if the revenue base continues to shrink.
Based on CBK's reported figures, the bank has successfully improved its operating leverage, as operating margins climbed from 26.0% in 2024Q4 to 38.4% in 2026Q1, driven by a disciplined reduction in SG&A expenses from $8.3 million to $6.6 million over the same period.
This shift indicates a leaner operational structure that allows a greater portion of gross profit to flow through to the operating income line. Such efficiency gains are critical for maintaining profitability in a low-growth environment, though further cost-cutting may eventually reach a point of diminishing returns.
Data from recent filings indicates that CBK's net income growth remains robust, with net margins reaching 30.9% in 2026Q1, while the absence of stock-based compensation expenses suggests that reported EPS figures are not being artificially inflated or diluted by equity-based incentive programs for management.
The clean nature of the earnings, devoid of non-operating noise or SBC, provides a clearer view of the bank's core operational profitability. Investors should view this transparency as a positive, as it reflects a focus on organic earnings growth rather than accounting adjustments or excessive share-based compensation.
Quick answers to the most common questions about buying CBK stock.
Commercial Bancgroup, Inc. Common Stock (CBK) is profitable, generating $37.2M in net income for the fiscal year ending 2025 with a net profit margin of 28.3%.
Commercial Bancgroup, Inc. Common Stock (CBK) reported an operating income of $47.4M, resulting in an operating profit margin of 36.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Commercial Bancgroup, Inc. Common Stock (CBK) generated $90.2M in gross profit for the year, representing a gross profit margin of 68.6%. This demonstrates the company's core pricing power and production efficiency.