Steele Bancorp, Inc. (STLE) is a bank holding company that operates a community bank providing deposit and lending services in Pennsylvania. Revenue comes primarily from net interest income, the spread between interest earned on loans and securities and interest paid on deposits and borrowings. The Bank traces its origins to 1872 and has paid cash dividends continuously since that time. In August 2025, Steele completed the merger of Northumberland Bancorp (NUBC) into its subsidiary Mifflinburg Bancorp, expanding its balance sheet. Following the merger, the Bank's Tier 1 Capital totaled $106.05 million as of December 31, 2025, up from $57.52 million at December 31, 2024. Net income in FY2025 was $22.89 million, or $9.15 per share, compared to $4.48 million, or $2.41 per share, in FY2024, with the increase driven largely by an $18.30 million bargain purchase gain from the NUBC acquisition. The allowance for credit losses stood at $9.90 million, or 1.08% of total loans net of unearned income, as of December 31, 2025.

Revenue model

Net interest income from loans and investment securities, supplemented by fee-based banking services. The Bank earns the spread between rates on interest-earning assets and rates paid on interest-bearing liabilities.

Products and services

Commercial and consumer loans, deposit accounts, and standard community banking services. The loan portfolio is reviewed quarterly by the Board of Directors, with allowance for credit losses of $9.90 million as of December 31, 2025.

Customers and end markets

Individual depositors and borrowers, and commercial customers in Pennsylvania communities. No customer concentration data disclosed in the filing excerpts.

Value-chain role

Community bank and bank holding company. Accepts deposits, extends credit, and intermediates between savers and borrowers in local Pennsylvania markets. Subject to federal and state banking regulation including Dodd-Frank, Gramm-Leach-Bliley, and FDIC oversight.

Geographic exposure

Pennsylvania. Specific counties or markets beyond the Mifflinburg and Northumberland service areas are not detailed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-30

Industry: State Commercial Banks