Elmer Bancorp, Inc. Announces Third Quarter 2025 Financial Results

About this update from Elmer Bancorp, Inc.

Elmer Bancorp, Inc. Announces Third Quarter 2025 Financial Results Elmer Bancorp, Inc. Announces Third Quarter 2025 Financial Results ELMER, N.J.--(BUSINESS WIRE)-- ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTCID: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and nine months ended September 30, 2025. For the three months ended September 30, 2025, Elmer Bancorp reported net income of $768,000, or $0.67 per average diluted common share, compared to $712,000, or $0.62 per average diluted common share for the three months ended September 30, 2024. For the nine months ended September 30, 2025, net income totaled $2.584 million or $2.26 per average diluted common share compared to $2.136 million, or $1.87 per average diluted common share for the nine months ended September 30, 2024. Net interest income for the three months ended September 30, 2025 totaled $4.111 million, an increase of $466,000 from $3.645 million in the third quarter of 2024. For the nine months ended September 30, 2025, net interest income totaled $11.893 million compared to $10.886 million for the nine-month period of 2024. This increase in net interest income is the result of higher interest and fees on loans partially offset by higher interest paid on deposits and lower income on our overnight investments. The loan loss provision was increased by $40,000 and $124,000 for the three and nine months ended September 30, 2025 compared to no loan loss provision in the third quarter of 2024 and a reduction of $68,000 for the nine months ended September 30, 2024. This adjustment was the result of the required loan loss calculation under the Current Expected Credit Loss (“CECL”) model. Non-interest income for the three months ended September 30, 2025 was $18,000 higher than the same three-month period a year ago and $598,000 higher than the nine-month period last year. Increases in the cash surrender value of Bank Owned Life Insurance (“BOLI”) accounted for the increase in the three-month period. For the increase in the nine-month period, the one-time BOLI payout, higher service fee income and increased Visa credit card commissions were partially offset by a loss on Other Real Estate Owned (“OREO”). Non-interest expenses were h...

View stock analysis, news, and events for Elmer Bancorp, Inc.