MyState reports $58.3M full-year underlying profit

• MyState reported a 41.2% rise in full-year underlying net profit after tax to $58.3 million for FY26.
• The company's shares traded up 5.96% to $4.98 following the financial results release.
• Management attributed the earnings expansion to merger synergy realisations and growth across higher-return business segments.

MyState (ASX:MYS) delivered a 41.2% increase in underlying net profit after tax to $58.3 million for the 2026 financial year.

The regional financial institution expanded its total operating income by 37.1% to $255.9 million compared to FY25.

"Asset quality remains strong, with 90-day home loan arrears improving over the year from 0.44% to 0.32% at June 30, demonstrating the resilience of our customers despite ongoing economic uncertainty," said MyState Managing Director and CEO Brett Morgan.

The company recorded annual run-rate synergies of $11.8 million and declared a fully franked final dividend of 12.5 cents per share.

Following the announcement, the MyState share price was up at $4.98.

The group integrated operations under a single banking licence on Dec. 1, 2025, following its merger with Auswide Bank.

The company reported that higher-return businesses contributed 11% of underlying net profit after tax in FY26 compared to 6% in FY25.