Third Century Bancorp Releases Earnings for the Quarter Ended September 30, 2026

For best results when printing this announcement, please click on link below: Third Century Bancorp Releases Earnings for the Quarter Ended September 30, 2026 (OTCID: TDCB) — Third Century Bancorp (“Company”), the holding company for Mutual Savings Bank (“Bank”), announced it recorded unaudited net income of $735,000 for the quarter ended September 30, 2026, or $0.63 per basic and diluted share, compared to net income of $498,000 for the quarter ended September 30, 2025, or $0.43 per basic and $0.42 per diluted share. “We are pleased with our third-quarter performance.

Loan growth remained solid, deposit growth was exceptionally strong, and those additional deposits allowed us to further reduce wholesale borrowings while maintaining a strong liquidity position. Earnings continued to improve as revenue growth outpaced expense growth. While higher market interest rates continue to create unrealized losses in our investment portfolio that impact reported equity, the Bank's core operating performance remains strong, and our overall financial condition is sound. Regardless of the economic environment or changes in interest rates, our employees continue to demonstrate their commitment to serving our customers and communities.

Their efforts are reflected in our financial results, and we remain optimistic about the future,” stated David A. Coffey, President and CEO. For the quarter ended September 30, 2026, net income increased $237,000, or 47.69%, to $735,000 as compared to $498,000 for the same period in the prior year. The increase in net income for the three-month period ended September 30, 2026, was driven primarily as a result of a $414,000 increase in net interest income as compared to the same period in the prior year.

Net interest income increased to $2.68 million for the three months ended September 30, 2026, due to an increase in total interest income of $430,000, or 10.02%, to $4.72 million for the three-month period ended September 30, 2026, as compared to $4.29 million for the same period for the prior year. The increase in total interest income was due to increases in average loan balances and average cash balances. Partially offsetting the increase in total interest income was a slight increase in total interest expense of $16,000, or 0.78%, to $2.04 million for the three-month period ended September 30, 2026, as compared to $2.03 million for the same period for the prior year.

The increase in total interest expense was the result of higher average retail deposit balances. There was no provision for credit losses during the current quarter compared to a provision expense of $27,000 for the same quarter last year due to the continued strength of our credit quality and nominal net charge-offs for the current period. Non-interest income for the quarter ended September 30, 2026, increased by $91,000, or 24.57%, to $459,000, as compared to $368,000 for the same period in the prior year. The increase in non-interest income occurred due to increased Trust revenue, loan fees, and service charge income as compared to the same period in the prior year.

Non-interest expense increased by $202,000, or 9.75%, to $2,276,000 as compared to $2,074,000 for the same period in the prior year, due primarily to increased data processing, personnel expenses, and outside consultant fees. For the nine-months ended September 30, 2026, net income increased $739,000, or 55.92%, to $2,060,000, or $1.77 per basic and diluted share, as compared to $1,321,000, or $1.13 per basic and $1.12 per diluted share, for the same period in the prior year.

Net interest income increased to $7.71 million for the nine-months ended September 30, 2026, due to an increase in total interest income of $1.26 million, or 10.30%, to $13.52 million for the nine-month period ended September 30, 2026, as compared to $12.26 million for the same period for the prior year. The increase in total interest income was the result of higher average loan yields and higher average loan balances. Offsetting the increase in total interest income was an increase in total interest expense of $96,000, or 1.69%, to $5.81 million for the nine-month period ended September 30, 2026, as compared to $5.72 million for the same period for the prior year.

The increase in total interest expense was due to higher average retail deposit balances. The provision reversal for credit losses during the first nine months of 2026 was $50,000 compared to a provision expense of $14,000 for the same period last year due to the ongoing strength of our credit quality and nominal charge-offs for the current period. Non-interest income increased by $178,000, or 16.30%, to $1.27 million for the nine-months ended September 30, 2026, as compared to $1.10 million for the same period in the prior year.

The increase in non-interest income occurred due to increased service fee income and income on other assets as compared to the same period for the prior year. Non-interest expense increased by $511,000, or 8.30%, to $6.67 million for the nine-months ended September 30, 2026, as compared to $6.16 million for the same period in the prior year due to increased data processing expenses, personnel expenses and outside consultant fees. Total assets increased $16.81 million, or 4.81%, to $365.99 million at September 30, 2026, compared to $349.19 million at December 31, 2025.

This increase was due primarily to higher loan and securities balances which increased by $9.31 million or 4.20% and $3.94 million or 5.25%, respectively, since December 31, 2025. Gross loans held for investment rose by $9.31 million to $230.80 million at September 30, 2026, compared to $221.48 million at December 31, 2025. Total deposits were $321.46 million at September 30, 2026, up from $280.09 million at December 31, 2025. FHLB advances decreased by $23.0 million or 51.11% to $22.0 million at September 30, 2026, from $45.0 million at December 31, 2025.

Stockholders’ equity was $11.16 million at September 30, 2026, compared to $13.17 million at December 31, 2025. Stockholders’ equity decreased due to an increase in net unrealized loss of $3.87 million during the nine months ended September 30, 2026, partially offset by retained net income for the year to date. The increase in net unrealized loss was a result of the decrease in the fair value of our available-for-sale securities due to changes in the forward rate curve compared to our portfolio at prior year end.

The available-for-sale securities are investments in government sponsored mortgage-backed securities as well as investments in municipal bonds, which provide cash flow for business purposes. Quarterly average equity as a percentage of average assets increased to 4.04% at September 30, 2026, compared to 2.83% at September 30, 2025. Founded in 1890, Mutual Savings Bank is a full-service financial institution based in Johnson County, Indiana. In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the Bank operates branches in Franklin at 1124 North Main Street, Trafalgar and Greenwood, Indiana.

This press release contains certain forward-looking statements that are based on assumptions and may describe future plans, strategies and expectations of the Company. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.

They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Certain factors that could cause actual results to differ materially from expected results include inflation, tariffs, changes in the interest rate environment, changes in general economic conditions, geopolitical conflicts, public health issues, legislative and regulatory changes that adversely affect the business of the Company and the Bank, and changes in the securities markets.

Except as required by law, the Company does not undertake any obligation to update any forward-looking statements to reflect changes in belief, expectations, or events.

Condensed Consolidated Statements of Income (Unaudited) In thousands, except per share data Three Months Ended Nine Months Ended September 30, June 30, September 30, Sept 30, Sept 30, 2026 2026 2025 2026 2025 Selected Consolidated Earnings Data: Total Interest Income $ 4,718 $ 4,471 $ 4,289 $ 13,522 $ 12,259 Total Interest Expense 2,043 1,876 2,027 5,812 5,716 Net Interest Income 2,676 2,595 2,262 7,710 6,543 Provision/(Credit) for Losses — (27 ) 27 (50 ) 14 Net Interest Income after Provision for Losses 2,676 2,622 2,235 7,760 6,529 Non-Interest Income 459 441 368 1,274 1,095 Non-Interest Expense 2,276 2,240 2,074 6,674 6,163 Income Tax Expense 123 103 31 299 140 Net Income $ 735 $ 719 $ 498 $ 2,060 $ 1,321 Earnings Per Share — basic $ 0.63 $ 0.62 $ 0.43 $ 1.77 $ 1.13 Earnings Per Share — diluted $ 0.63 $ 0.62 $ 0.42 $ 1.77 $ 1.12 Condensed Consolidated Balance Sheet (Unaudited) In thousands, except per share data September 30, December 31, September 30, 2026 2025 2025 Selected Consolidated Balance Sheet Data: Assets Cash and Due from Banks $ 34,729 $ 33,865 $ 41,283 Investment Securities, Available-for-Sale, at Fair Value 74,209 72,118 71,461 Investment Securities, Held-to-Maturity 4,800 2,950 2,950 Loans Held-for-Sale 830 — 2,102 Loans Held-for-Investment 230,796 221,485 212,353 Allowance for Credit Losses 3,104 3,157 2,968 Net Loans Held-for-Investment 227,692 218,327 209,385 Accrued Interest Receivable 1,551 1,641 1,507 Other Assets 22,184 20,287 20,274 Total Assets $ 365,995 $ 349,188 $ 348,963 Liabilities Noninterest-Bearing Deposits $ 52,462 $ 46,543 $ 45,449 Interest-Bearing Deposits 268,994 233,543 222,819 Total Deposits 321,457 280,086 268,268 FHLB Advances and Other Borrowings 22,000 45,000 58,000 Subordinated Notes, Net of Issuances Costs 9,832 9,812 9,805 Accrued Interest Payable 327 472 404 Accrued Expenses and Other Liabilities 1,218 645 778 Total Liabilities 354,833 336,016 337,256 Stockholders' Equity Common Stock 11,473 11,475 11,475 Retained Earnings 14,919 13,056 12,565 Accumulated Other Comprehensive Gain/(Loss) (15,231 ) (11,358 ) (12,332 ) Total Stockholders' Equity 11,162 13,173 11,708 Total Liabilities and Stockholders' Equity $ 365,995 $ 349,188 $ 348,963 Three Months Ended Nine Months Ended dollar figures are in thousands, except per share data September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Selected Financial Ratios and Other Data (Unaudited): Interest Rate Spread During Period 2.61 % 2.67 % 2.44 % 2.59 % 2.44 % Net Yield on Interest-Earning Assets 5.40 % 5.37 % 5.43 % 5.33 % 5.37 % Net Interest Margin During Period, Annualized 3.06 % 3.12 % 2.86 % 3.04 % 2.86 % Net Realized Gain/(Loss) on AFS Securities $ — $ — $ (10 ) $ 0 $ (10 ) Non-Interest Expense, Annualized, to Average Assets 2.49 % 2.56 % 2.49 % 2.46 % 2.56 % Return on Average Assets, Annualized 0.80 % 0.82 % 0.60 % 0.76 % 0.55 % Return on Average Equity, Annualized 19.88 % 20.01 % 21.09 % 19.06 % 18.71 % Average Equity to Assets 4.04 % 4.11 % 2.83 % 3.99 % 2.93 % Average Net Loans $ 222,798 $ 220,090 $ 209,332 $ 220,100 $ 207,155 Average Net Securities 77,930 76,376 72,569 76,882 73,782 Average Other Interest-Earning Assets 48,570 36,513 34,124 41,401 23,614 Total Average Interest-Earning Assets 349,298 332,978 316,024 338,382 304,551 Average Total Assets 366,100 349,782 333,492 361,667 321,350 Average Noninterest-Bearing Deposits $ 47,238 $ 46,831 $ 41,330 $ 46,502 $ 40,673 Average Interest-Bearing Deposits 261,317 235,417 213,636 243,624 206,587 Average Total Deposits 308,556 282,248 254,966 290,126 247,260 Average Wholesale Funding 31,240 42,000 58,000 39,341 54,037 Average Interest-Bearing Liabilities 292,558 277,417 271,636 282,965 260,624 Avg.

Interest-Earnings Assets to Avg. Interest-Bearings Liabilities 119.39 % 120.03 % 116.34 % 119.58 % 116.85 % Average equity $ 14,796 $ 14,380 $ 9,442 $ 14,414 $ 9,415 Non-Performing Loans to Gross Loans Held-for-Investment 0.00 % 0.28 % 0.00 % 0.00 % 0.00 % Total Non-Performing Assets $ — $ 634 $ — $ — $ — Allowance for Credit Losses to Total Loans Outstanding 1.34 % 1.39 % 1.40 % 1.34 % 1.40 % Allowance for Credit Losses to Non-Performing Loans N/A 489.90 % 0.00 % 0.00 % 0.00 % Net Charge-offs/(Recoveries) $ 2 $ — $ (8 ) $ 4 $ (12 ) NCOs to Avg.

Total Loans Outstanding 0.00 % 0.00 % -0.01 % 0.00 % -0.01 % Effective Income Tax Rate 14.30 % 12.52 % 5.85 % 12.69 % 9.60 % Tangible Book Value Per Share $ 9.61 $ 13.45 $ 10.02 $ 9.61 $ 10.02 Market Closing Price at the End of Quarter $ 16.75 $ 15.52 $ 9.45 $ 16.75 $ 9.45 Price-to-Tangible Book Value 174.23 % 115.38 % 94.31 % 174.23 % 94.31 % View source version on.com: David A. Coffey, President and CEO S. Paul Arab, SVP and CFO Tel. 317-736-7151 Fax 317-736-1726