Community Herita Stock Price, News & Analysis

Community Heritage Financial, Inc. (CMHF) reported net income of $1.39 million or $0.48 per share for the first quarter of 2023, marking a decline from $1.44 million or $0.50 per share in the fourth quarter of 2022. Year-over-year, net income decreased by $431 thousand from $1.82 million in Q1 2022, which had included $320 thousand in PPP-related fees. Total assets grew to $936.6 million, up $6.5 million from Q4 2022 and $91 million year-over-year. Core loans increased by $9.1 million quarter-over-quarter to $757.6 million. However, total deposits fell by $23.6 million compared to Q4 2022, largely due to a $25 million withdrawal by a single customer. The company declared a dividend of $0.06 per share.

Community Heritage Financial, Inc. (OTCPK: CMHF) has declared a quarterly cash dividend of $0.06 per share, set to be paid on May 12, 2023. Shareholders on record as of May 5, 2023 will receive this dividend. This announcement reflects the company’s ongoing commitment to returning value to its investors. Middletown Valley Bank, a subsidiary of Community Heritage Financial, provides personal and business banking services in several Maryland counties and Franklin County, Pennsylvania. Established in 1908, the bank continues to serve its community while maintaining a focus on shareholder value.

Community Heritage Financial, Inc. (OTC PK: CMHF) reported record net income of $6.86 million or $2.85 per share for 2022, a 14% increase from 2021. Fourth quarter income was $1.44 million ($0.50 per share), down from $1.52 million in Q3 2022 but up from $1.26 million in Q4 2021. Total assets grew to $930.1 million, a $112.2 million increase year-over-year. Core loans reached $748.5 million, rising 22.6% compared to the previous year. The bank eliminated short-term debt, achieving zero balance on wholesale funding. However, net interest margin declined from 3.35% in Q3 to 3.15% in Q4 due to rising costs. A dividend of $0.06 per share was declared, reflecting a 50% increase from the previous quarter.

Community Heritage Financial, Inc. (OTCPK: CMHF) declared a quarterly cash dividend of $0.06 per share, a notable 50% increase from the previous $0.04. This dividend is payable on February 10, 2023, to shareholders on record as of February 3, 2023. The bank, which operates in several Maryland counties and Franklin County, Pennsylvania, has a history dating back to 1908. The announcement reflects the company's commitment to returning value to its shareholders while enhancing income opportunities.

Community Heritage Financial, Inc. (OTC PK: CMHF) reported a net income of $5.41 million or $2.40 per share for the nine months ended September 30, 2022, reflecting a 13.7% increase from the previous year. However, third quarter income was $1.52 million, down 26.6% from the previous quarter. Total assets grew to $909.7 million, driven by a $34.5 million loan increase. While net interest income rose, higher operating expenses and reduced non-interest income affected earnings. The company declared a $0.04 per share dividend, payable on November 11, 2022.

Community Heritage Financial, Inc. (OTCPK: CMHF) has declared a quarterly cash dividend of $0.04 per share, payable on November 11, 2022. Shareholders of record on November 4, 2022 will receive this dividend. This decision reflects the company's ongoing commitment to returning value to its shareholders. The parent company of Middletown Valley Bank, Community Heritage Financial operates across several Maryland counties and Franklin County, Pennsylvania, providing a range of banking services.

Community Heritage Financial announced the successful closing of its public offering of 600,000 shares of common stock at $21.00 per share, generating approximately $12.6 million in gross proceeds. After deductions, net proceeds are expected to be around $11.4 million. Piper Sandler acted as the sole manager and has a 30-day option to purchase an additional 90,000 shares. The offering statement was qualified by the SEC on September 28, 2022. This funding aims to bolster the company's financial position and support its banking operations.

Community Heritage Financial announced on October 3, 2022, that its subsidiary, Middletown Valley Bank, experienced unauthorized access to its information technology system on October 1. The Bank swiftly implemented containment measures and is conducting an investigation, but currently believes no customer information was compromised. The incident is not expected to materially impact business operations, and normal banking services will continue.