Welcome to our dedicated page for Elmer Bancorp news (Ticker: ELMA), a resource for investors and traders seeking the latest updates and insights on Elmer Bancorp stock.
Elmer Bancorp, Inc. (ELMA) is the parent company of The First National Bank of Elmer, a nationally chartered community bank headquartered in Elmer, New Jersey. The company trades on the OTC Pink market and operates within the commercial banking segment of the finance and insurance sector. Its news flow offers insight into the performance and activities of a regional community banking organization.
News releases for Elmer Bancorp regularly cover quarterly financial results, including net interest income, non-interest income, non-interest expenses, provisions for loan losses under the CECL model, and net income. These updates also highlight balance sheet items such as total assets, total loans, total deposits, and stockholders’ equity, giving readers a view of the bank’s loan growth, deposit trends, and capital position.
Investors and observers will also find dividend announcements, including recurring cash dividends and special cash dividends declared by the Board of Directors. Management commentary in these releases often explains the rationale for dividend decisions and reflects the company’s perspective on earnings and shareholder returns.
Additional news items may include information about Annual Meeting of Shareholders dates and locations, record dates for voting and dividend eligibility, and other corporate governance events. Because The First National Bank of Elmer focuses on deposit and loan products for retail customers and small and mid-sized businesses in its New Jersey markets, the company’s news provides context on how a community bank holding company manages growth, capital, and shareholder distributions. Readers who follow ELMA news can monitor these recurring themes over time.
ELMER BANCORP, INC. (OTC Pink: ELMA) announced a cash dividend of $0.20 per share on April 3, 2023, payable on May 1, 2023, to shareholders of record by the close of business on April 17, 2023.
Brian W. Jones, President and CEO, emphasized the Board's commitment to sharing success with shareholders while ensuring a strong capital position amid economic conditions. Additionally, the Annual Meeting of Shareholders is scheduled for June 6, 2023, at 11:00 a.m. ET, with a record date for voting on April 12, 2023.
ELMER BANCORP, INC. (OTC Pink: ELMA) declared a special one-time cash dividend of $0.12 per common share on February 15, 2023. The dividend is payable on March 1, 2023 to shareholders on record as of December 31, 2022. This announcement celebrates the Bank's 120 years of service and reflects outstanding performance in 2022. Brian W. Jones, President and CEO, expressed gratitude towards loyal customers, shareholders, and employees. The First National Bank of Elmer offers financial services through six branches across New Jersey and is insured by the FDIC.
Elmer Bancorp, the parent company of The First National Bank of Elmer, reported a record net income of $1.025 million for Q4 2022, up from $412,000 in Q4 2021, translating to $0.89 per share. For the full year, net income reached $2.604 million, or $2.26 per share, compared to $1.949 million in 2021. Key drivers included a $922,000 increase in net interest income for Q4. However, total assets decreased to $371.5 million, and deposits fell to $340.3 million amid runoff from government stimulus programs. Despite economic uncertainties, the company remains committed to community service.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $759,000, or $0.66 per share, for Q3 2022, up from $604,000, or $0.53 per share, in Q3 2021. For the nine months ended September 30, 2022, net income was $1.579 million, slightly up from $1.537 million in 2021. Net interest income increased to $3.332 million in Q3 2022, while remaining stable at $9.075 million for the nine-month period. Total assets rose to $385.6 million, with deposits at $355.4 million. Despite higher non-interest expenses, the bank's loan loss allowance improved to 1.67% of total core loans.
ELMER Bancorp, Inc. (OTC Pink: ELMA) declared a cash dividend of $0.20 per common share on October 3, 2022, payable on November 1, 2022. Shareholders of record as of October 14, 2022 will receive this dividend. Brian W. Jones, President and CEO, highlighted the Board's commitment to return on investment despite ongoing economic challenges. The First National Bank of Elmer has been serving the community since 1903, focusing on retail and business banking.
The First National Bank of Elmer has announced the retirement of Matthew A. Swift, Executive Vice President, Chief Financial Officer, and Chief Operating Officer. His responsibilities will be taken over by Cynthia L. Volk for accounting and financial areas, while Matthew J. Haines will manage bank operations. Brian W. Jones, President and CEO, acknowledged Swift's contributions to enhancing the bank's efficiency. The bank has been serving the community since 1903 and trades under the stock symbol ELMA.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $509,000 for Q2 2022, down from $530,000 in Q2 2021. Earnings per diluted share also declined to $0.44 from $0.46. For the first half of 2022, net income totaled $820,000, compared to $933,000 in 2021. The bank's total assets grew to $392.9 million, up $21.5 million year-over-year. While net interest income rose slightly to $2.997 million for Q2, it dropped to $5.743 million for the six-month period. Non-interest expenses also increased by $203,800 in Q2.
Elmer Bancorp reported a net income of $311,000 for Q1 2022, down from $403,000 in Q1 2021, translating to $0.27 per diluted share. The net interest income decreased to $2.746 million, reflecting a drop due to lower fees from Payroll Protection Program loans. However, non-interest income rose slightly by $10,700, primarily from higher overdraft fees. Total assets increased to $380.8 million, and total deposits grew to $350.5 million. The company declared a cash dividend of $0.20 per share, payable on May 2, 2022. Core loans reached $260 million, up by $7.6 million year-over-year.
ELMER BANCORP, INC. (OTC Pink: ELMA) declared a $0.20 cash dividend per common share on April 1, 2022, payable on May 2, 2022, to shareholders of record as of April 15, 2022. President and CEO Brian W. Jones noted that maintaining the dividend reflects a conservative payout approach while ensuring a return on investment for shareholders. The company will hold its Annual Meeting of Shareholders virtually on June 7, 2022, at 2:00 p.m. Eastern Time, with a record date of April 14, 2022.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $412,000 for Q4 2021, up 28% from Q4 2020. For the full year, net income reached $1.949 million, an increase of 32.7% year-over-year. Net interest income for Q4 was $2.798 million, down 12% due to reduced loan demand and PPP loan fee income. Total assets grew to $375.7 million, with deposits rising to $344.5 million. Despite a $25.4 million drop in total loans, the company's core assets increased significantly. The book value per share rose to $25.50 compared to $24.55 in 2020.