InsCorp Reports Earnings Growth as Murfreesboro Expansion Hits Breakeven

The bank’s performance was bolstered by a 16% year-over-year growth in average earning assets, driven by strong loan and deposit expansion. Notably, the firm’s strategic entry into Murfreesboro reached a breakeven point on a direct expense and revenue basis within just three quarters, surpassing internal projections. Murfreesboro deposit and loan balances reached $36.3 million and $50.3 million respectively by the end of June.

Operational metrics showed improvement, with the efficiency ratio tightening to 64.8% from 66.4% in the first quarter. While noninterest expenses rose 18% year-over-year—largely due to personnel growth and the Murfreesboro expansion—the firm maintains a healthy loan pipeline. Chief Lending Officer Chad Hankins noted that despite elevated loan payoff activity earlier this year, the bank remains well-positioned for solid growth throughout the second half of 2026. Asset quality remains stable, with net charge-offs at 0.00% and a robust allowance for credit losses representing 523% of nonperforming loans.