Community Herita Stock Price, News & Analysis

Community Heritage Financial, Inc. (OTC PK: CMHF) announced a public offering of 1,500,000 shares of common stock priced between $21.00 and $23.00 each. The offering, managed by Piper Sandler & Co., includes a 30-day option for the underwriter to purchase an additional 225,000 shares. Proceeds will primarily enhance the Bank's lending capacity and may fund acquisitions or general corporate purposes. The SEC qualified the offering statement on September 9, 2022.

Community Heritage Financial, Inc. (CMHF) reported a strong performance for the six months ended June 30, 2022, with net income of $3.89 million, a 55.6% increase from $2.50 million in the prior year. The second quarter net income was $2.07 million, an increase from $1.82 million in Q1 2022. Total assets grew to $872.6 million, bolstered by $20.6 million in deposits. Loan balances reached $692.8 million, increasing by $48.9 million since March 31, 2022. However, non-interest income decreased by 24.7% year-over-year, and operating expenses rose by 4.6% compared to Q1 2022.

Community Heritage Financial, Inc. (OTCPK: CMHF) has declared a quarterly cash dividend of $0.04 per share on its common stock. The dividend is set to be paid on August 5, 2022, to shareholders on record as of July 29, 2022. The company, which operates through its subsidiary Middletown Valley Bank, provides various banking services in Maryland and Pennsylvania. Established in 1908, the Bank continues to support the local communities through its financial offerings.

Community Heritage Financial, Inc. (OTC PK: CMHF) reported a net income of $1.82 million or $0.81 per share for Q1 2022, marking a 13.1% increase from Q1 2021. The company experienced significant balance sheet growth, with core deposits rising by $33.5 million and core loan growth of $43.1 million. Interest income increased $293 thousand compared to Q4 2021, while net interest income grew by $357 thousand. However, tangible book value per share decreased by 10.7% to $21.94.

Community Heritage Financial, Inc. (OTCPK: CMHF) declared a quarterly cash dividend of $0.04 per share, payable on May 6, 2022. Shareholders of record as of April 29, 2022 will receive this dividend, demonstrating the company's ongoing commitment to returning value to its investors.

The company operates Middletown Valley Bank and Millennium Financial Group, providing comprehensive banking and mortgage services in Maryland and Pennsylvania.

Community Heritage Financial, Inc. (OTCPK: CMHF) announced the appointment of Frankie Corsi, III, to its Board of Directors on April 15, 2022. Corsi, currently the president of Beachley Furniture Company, brings extensive experience, including a background as CFO at Ridgecrest Investments and a licensed CPA since 1997. Board Chairman James G. Pierne expressed confidence in Corsi's business acumen, while CEO Robert E. (BJ) Goetz, Jr. noted Corsi's leadership experience and financial expertise as valuable for the Company.

Community Heritage Financial, Inc. (CMHF) reported record earnings of $6.015 million or $2.67 per share for the year ending December 31, 2021, a 45.7% increase from 2020. However, fourth-quarter net income fell to $1.257 million or $0.56 per share, down 44.3% from Q3 2021 and 19.8% year-over-year. Key highlights include $43.7 million in core loan growth, a decline in PPP loan forgiveness income, and an uptick in provisions for loan losses. The bank showed robust deposit growth of $137 million year-over-year, enhancing its earning assets while maintaining strong credit quality.

Community Heritage Financial (OTC Pink: CMHF) has declared a quarterly cash dividend of $0.04 per share on its common stock. The dividend is set to be paid on February 11, 2022 to shareholders registered by February 4, 2022. This announcement reflects the company's commitment to returning value to its shareholders while maintaining a stable financial standing.

Community Heritage Financial, Inc. (CMHF) has announced a significant organizational change, seeking regulatory approval for its subsidiary Millennium Financial Group (Mlend) to become a wholly owned subsidiary of Middletown Valley Bank. This restructuring, approved by all boards, aims to enhance operational efficiencies and achieve cost savings. Both entities will retain their brand identities while benefiting from synergies in their market operations. The move reflects the company's strategy to streamline operations and strengthen its market position.