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 (OTC Pink: ELMA) reported strong financial results for Q3 and YTD September 30, 2021. Net income for Q3 reached $604,000 ($0.53/share), up from $183,000 ($0.16/share) in the same quarter last year. For the nine months, net income rose to $1.537 million ($1.34/share) from $1.147 million ($1.00/share). Net interest income was $2.971 million in Q3, a $255,000 increase year-over-year. Total assets climbed to $370.8 million, with deposits growing by $42.6 million. A dividend of $0.20/share was declared, reflecting a 17.6% increase from April 2021.
Elmer Bancorp announced a cash dividend of $0.20 per common share, reflecting a 17.6% increase from the previous $0.17 per share declared in April 2021. This dividend will be payable on November 1, 2021, to shareholders of record as of October 15, 2021. The company's leadership emphasized their commitment to enhancing shareholder returns while maintaining a strong capital position. Elmer Bancorp has been serving its community since 1903 through its subsidiary, The First National Bank of Elmer, offering deposit and loan products across several counties in New Jersey.
Elmer Bancorp, Inc. (OTC: ELMA) announced the retirement of Cindee F. Low as Chairman of the Board effective September 1, 2021. Under her leadership, the company's assets grew from $220 million to $371 million. P. Scott Boyer, previously Vice Chairman, has been appointed as the new Chairman, while Robert A. Woodruff, Jr. will serve as Vice Chairman. The First National Bank of Elmer, established in 1903, offers community banking services across Cumberland, Gloucester, and Salem Counties in New Jersey.
Elmer Bancorp, parent of The First National Bank of Elmer (OTC Pink: ELMA), reported a net income of $530,000, or $0.46 per share for Q2 2021, an increase from $492,000 or $0.43 per share in Q2 2020. Year-to-date net income was $933,000, lower than $964,000 in 2020. Net interest income rose to $2.952 million for Q2 2021, boosted by income from Payroll Protection Program loans. Total assets increased to $371.4 million, yet loans decreased to $267.7 million. Deposits grew to $340.5 million, reflecting strong customer support amid the pandemic.
Elmer Bancorp, parent of The First National Bank of Elmer, reported Q1 2021 net income of $403,000 ($0.35/share), down from $472,000 ($0.41/share) in Q1 2020. Net interest income increased to $3.152 million, buoyed by PPP loan fees. Total assets rose to $353.2 million from $286.1 million YoY. Loans amounted to $278.5 million, while core loans decreased slightly. Deposits increased to $322.6 million. A cash dividend of $0.17/share was declared for May 3, 2021. The company remains cautious on loan losses amid ongoing pandemic uncertainties.
Elmer Bancorp, Inc. (OTC Pink: ELMA) declared a cash dividend of $0.17 per common share on April 1, 2021, an increase from $0.16 in November 2020. This dividend is payable on May 3, 2021, to shareholders of record as of April 16, 2021. CEO Brian W. Jones noted the Board's decision aims to provide shareholder returns amid economic uncertainties. The Company also scheduled its Annual Meeting of Shareholders for June 1, 2021, with a record date for voting on April 9, 2021.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $322,000 ($0.28 per share) for Q4 2020, down from $581,000 ($0.51 per share) a year earlier. The full year net income dropped to $1.469 million ($1.28 per share) from $2.067 million ($1.80 per share) in 2019. Total assets increased to $330.4 million, up $44.6 million year-over-year. Core loans rose by $12 million, while total loans reached $279.4 million. Deposits grew by $43.2 million, totaling $300.4 million. However, provisions for loan losses increased to $360,000 in Q4 2020.