FFW Corporation Announces Earnings for the Quarter and Year to Date Ended June 30, 2026

Rhea-AI Summary

FFW Corporation (OTCID: FFWC), parent of Crossroads Bank, reported net income of $1.76 million ($1.62 per share) for the quarter ended June 30, 2026, up from $1.46 million ($1.35 per share) a year earlier. Quarterly net interest income rose to $4.93 million, noninterest income to $1.37 million, while noninterest expense increased to $4.15 million. Provision for credit losses was $150,000.

For the twelve months ended June 30, 2026, net income was $6.59 million ($6.06 per share) versus $5.54 million ($5.01 per share) in 2025, with net interest income of $18.79 million. Return on average assets was 1.13% and return on average common equity 12.00%. Total assets reached $614.0 million, shareholders’ equity $58.6 million, and nonperforming assets fell to $6.49 million. The company maintained an active share repurchase program and paid annual dividends of $1.24 per share.

Positive

• Quarterly net income up to $1.76M from $1.46M YoY
• Trailing 12‑month net income increased to $6.59M from $5.54M
• Net interest income grew to $18.79M from $16.28M for the year
• Net interest margin improved to 3.30% from 2.92% for the year
• Nonperforming assets declined to $6.49M from $8.15M
• Equity‑to‑assets ratio rose to 9.55% from 8.76%
• Annual dividend per share increased to $1.24 from $1.20
• Share repurchases of 3,810 shares YTD at $46.09 average price

Negative

• Provision for credit losses doubled YoY to $400,000 for the year
• Noninterest expense rose to $16.04M from $15.01M for the year
• Total noninterest income was flat YoY at about $5.07M

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WABASH, Ind., Aug. 17, 2026 (GLOBE NEWSWIRE) -- FFW Corporation (the “Corporation”) (OTCID: FFWC) (8/14/2026 Close: $54.73), parent corporation of Crossroads Bank (the “Bank”), announced earnings for the quarter and year to date ended June 30, 2026.

For the three months ended June 30, 2026, the Corporation reported net income of $1,762,000 or $1.62 per common share compared to 1,461,000 or $1.35 per common share for the three months ended June 30, 2025. Net interest income for the three months ended June 30, 2026 was $4,926,000 compared to $4,385,000 for the three months ended June 30, 2025. The provision for credit losses was $150,000 for the three months ended June 30, 2026 and $75,000 for the three months ended June 30, 2025. Total noninterest income was $1,367,000 for the three months ended June 30, 2026 compared to $1,221,000 for the three months ended June 30, 2025. Noninterest expense was $4,154,000 for the three months ended June 30, 2026 and $3,906,000 for the three months ended June 30, 2025.

For the twelve months ended June 30, 2026, the Corporation reported net income of $6,585,000 or $6.06 per common share compared to $5,542,000 or $5.01 per common share for the twelve months ended June 30, 2025. Net interest income for the twelve months ended June 30, 2026 was $18,789,000 compared to $16,279,000 for the twelve months ended June 30, 2025. The Company recognized a provision for credit losses of $400,000 for the twelve months ended June 30, 2026 and $200,000 for the twelve months ended June 30, 2025. Total noninterest income was $5,067,000 for the twelve months ended June 30, 2026 compared to $5,070,000 for the twelve months ended June 30, 2025. Noninterest expense was $16,036,000 for the twelve months ended June 30, 2026 and $15,006,000 for the twelve months ended June 30, 2025.

The three and twelve months ended June 30, 2026 represented a return on average common equity of 12.26% and 12.00%, respectively, compared to 11.77% and 11.10% for the three and twelve month periods ended June 30, 2025. The three and twelve months ended June 30, 2026 represented a return on average assets of 1.16% and 1.13%, respectively, compared to 1.03% and 0.97%, for the three and twelve month periods ended June 30, 2025.

The allowance for credit losses as a percentage of gross loans receivable was 1.32% at June 30, 2026 compared to 1.35% at June 30, 2025. Nonperforming assets were $6,487,000 at June 30, 2026 compared to $8,147,000 at June 30, 2025.

As of June 30, 2026, FFWC’s equity-to-assets ratio was 9.55% compared to 8.76% at June 30, 2025. Total assets at June 30, 2026 were $613,963,000 compared to $570,108,000 at June 30, 2025. Shareholders’ equity was $58,620,000 at June 30, 2026 compared to $49,944,000 at June 30, 2025. Crossroads Bank exceeds all applicable regulatory requirements to be considered “well capitalized.”

The Corporation has an active share repurchase program. During the quarter ended June 30, 2026, the Corporation repurchased 1,255 shares at an average price of $50.50. Year to date the Corporation repurchased 3,810 shares at an average price of $46.09. For more information regarding the share repurchase program, please contact Roger Cromer, President, at (260) 563-3185. The Corporation may suspend or discontinue repurchases at any time.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include expressions such as “expects,” “intends,” “believes,” and “should,” which are necessarily statements of belief as to the expected outcomes of future events. Actual results could materially differ from those presented. The Corporation's ability to predict future results involves a number of risks and uncertainties. The Corporation undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.

Crossroads Bank is a wholly owned subsidiary of FFW Corporation providing an extensive array of banking services and a wide range of investments and securities products through its main office in Wabash and six Indiana banking centers located in Columbia City, North Manchester, Peru, South Whitley, Syracuse and Warsaw. The Bank also provides leasing services at each of its banking centers. Insurance products are offered through an affiliated company, Insurance 1 Services, Inc. The Corporation’s stock is traded on the OTC Markets under the symbol “FFWC.” Our website address is www.crossroadsbanking.com. Crossroads Bank, Member FDIC.

FFW Corporation Selected Financial Information
Consolidated Balance Sheet
	June 30			June 30
		2026			2025
	Unaudited
Assets
Cash and due from financial institutions	$	6,007,638		$	7,166,023
Interest-bearing deposits in other financial institutions		23,239,189			3,649,597
Cash and cash equivalents		29,246,827			10,815,620
Securities available for sale		101,548,808			103,067,093
Loans held for sale		1,185,099			314,800
Loans receivable, net of allowance for credit losses of $6,032,597
at June 30, 2026 and $5,703,128 at June 30, 2025		448,974,149			422,829,649
Federal Home Loan Bank stock, at cost		1,748,800			1,739,500
Accrued interest receivable		3,118,061			3,055,402
Premises and equipment, net		7,407,812			7,602,679
Mortgage servicing rights		1,172,373			1,072,056
Cash surrender value of life insurance		13,653,541			13,165,670
Goodwill		1,213,898			1,213,898
Repossessed Assets		18,862			38,560
Other assets		4,675,252			5,192,615
Total assets	$	613,963,482		$	570,107,542
Liabilities and shareholders' equity
Deposits
Noninterest-bearing	$	54,001,013		$	52,521,124
Interest-bearing		486,559,721			453,607,241
Total deposits		540,560,734			506,128,365
Borrowings		10,000,000			10,000,000
Accrued expenses and other liabilities		4,782,730			4,035,448
Total liabilities		555,343,464			520,163,813
Shareholders' equity
Common stock, $.01 par; 2,000,000 shares authorized;
Issued: 1,836,328; outstanding: 1,084,169 at June 30, 2026 and 1,082,978 at June 30, 2025		18,363			18,363
Additional paid-in capital		10,344,530			10,233,608
Retained earnings		71,151,680			65,911,649
Accumulated other comprehensive income (loss)		(8,136,040	)		(11,560,272	)
Treasury stock, at cost: 752,159 at June 30, 2026 and
753,350 at June 30, 2025		(14,758,515	)		(14,659,619	)
Total shareholders' equity		58,620,018			49,943,729
Total liabilities and shareholders' equity	$	613,963,482		$	570,107,542

FFW Corporation Selected Financial Information
Consolidated Statement of Income
	Three Months Ended June 30					Twelve Months Ended June 30
	2026		2025			2026			2025
	Unaudited		Unaudited			Unaudited			Unaudited
Interest and dividend income:
Loans, including fees	$	6,386,760	$	5,985,759		$	24,854,644		$	23,183,812
Taxable securities		482,086		563,907			2,090,868			2,187,692
Tax exempt securities		390,384		402,708			1,580,588			1,625,823
Other		222,489		78,596			433,296			564,219
Total interest and dividend income		7,481,719		7,030,970			28,959,396			27,561,546
Interest expense:
Deposits		2,402,326		2,469,399			9,380,693			11,078,011
Borrowings		153,781		176,469			789,785			204,282
Total interest expense		2,556,106		2,645,869			10,170,478			11,282,293
Net interest income		4,925,613		4,385,101			18,788,918			16,279,253
Provision for credit losses		150,000		75,000			400,000			200,000
Net interest income after provision for
credit losses		4,775,613		4,310,101			18,388,918			16,079,253
Noninterest income:
Net gains on sales of loans		106,593		181,575			453,981			480,176
Net gains (losses) on fixed assets		-		(4,081	)		25,527			31,157
Net gains (losses) on sales of Investments		-		-			17			-
Net gains (losses) on sales of REO		-		-			(2,076	)		(684	)
Commission income		489,322		463,212			1,798,452			1,993,376
Service charges and fees		298,113		157,836			1,040,971			868,973
Earnings on life insurance		128,473		111,555			487,871			439,780
Other		344,568		311,304			1,262,671			1,257,347
Total noninterest income		1,367,070		1,221,401			5,067,414			5,070,125
Noninterest expense:
Salaries and benefits		2,189,802		2,035,089			8,372,104			8,098,744
Occupancy and equipment		293,314		333,493			1,242,154			1,300,038
Professional		259,180		164,980			703,431			628,721
Marketing		98,712		102,924			428,983			381,332
Deposit insurance premium		96,772		102,000			394,772			348,684
Regulatory assessment		11,018		11,569			44,511			42,772
Correspondent bank charges		28,610		26,413			107,644			107,687
Data processing		645,821		584,862			2,516,635			2,141,131
Printing, postage and supplies		72,992		74,354			294,101			300,465
Expense on life insurance		28,944		27,665			115,776			7,776
Contribution expense		1,000		7,500			20,012			44,888
Expense on REO		-		-			2,333			-
Other		427,603		434,848			1,793,775			1,603,446
Total noninterest expense		4,153,771		3,905,699			16,036,231			15,005,684
Income before income taxes		1,988,912		1,625,803			7,420,101			6,143,694
Income tax expense		227,333		165,144			834,766			601,954
Net income	$	1,761,579	$	1,460,659		$	6,585,335		$	5,541,740

FFW Corporation Selected Financial Information
Key Balances and Ratios
		Three Months Ended June 30						Twelve Months Ended June 30
		2026			2025			2026			2025
		Unaudited			Unaudited			Unaudited			Unaudited
Per common share data:
Earnings		$	1.62		$	1.35		$	6.06		$	5.01
Diluted earnings		$	1.62		$	1.35		$	6.06		$	5.01
Dividends paid		$	0.31		$	0.30		$	1.24		$	1.20
Average shares issued and outstanding			1,084,583			1,083,793			1,085,991			1,106,967
Shares outstanding end of period			1,084,169			1,082,978			1,084,169			1,082,978
Supplemental data:
Net interest margin **			3.29	%		3.16	%		3.30	%		2.92	%
Return on average assets ***			1.16	%		1.03	%		1.13	%		0.97	%
Return on average common equity ***			12.26	%		11.77	%		12.00	%		11.10	%
		June			June 30
		2026			2025
Nonperforming assets *		$	6,487,202		$	8,147,342
Repossessed assets		$	18,862		$	38,560
*	Includes non-accruing loans, accruing loans delinquent more than 90 days and repossessed assets
**	Yields reflected have not been computed on a tax equivalent basis
***	Annualized

Contact: Stacy Wiley, Treasurer, at (260) 563-3185

FAQ

How did FFW Corporation (FFWC) perform in the quarter ended June 30, 2026?

FFW Corporation reported net income of $1.76 million, or $1.62 per share, for the June 30, 2026 quarter. According to the company, this compares with $1.46 million, or $1.35 per share, in the same quarter of 2025, driven by higher net interest income.

What were FFW Corporation’s full‑year earnings for the 12 months ended June 30, 2026?

For the twelve months ended June 30, 2026, FFW Corporation earned $6.59 million, or $6.06 per share. According to the company, this was up from $5.54 million, or $5.01 per share, for the prior twelve‑month period, supported by higher net interest income.

How did key profitability ratios for FFWC change in 2026 versus 2025?

FFW Corporation’s return on average assets was 1.13% and return on average common equity 12.00% for the twelve months ended June 30, 2026. According to the company, these compared with 0.97% ROA and 11.10% ROE for the comparable 2025 period.

What is the asset quality and allowance position of FFW Corporation as of June 30, 2026?

As of June 30, 2026, FFW Corporation’s nonperforming assets totaled $6.49 million, and the allowance for credit losses was 1.32% of gross loans. According to the company, nonperforming assets declined from $8.15 million a year earlier, while the allowance ratio slightly decreased.

What were FFW Corporation’s capital levels and equity‑to‑assets ratio at June 30, 2026?

At June 30, 2026, FFW Corporation reported total shareholders’ equity of $58.6 million and an equity‑to‑assets ratio of 9.55%. According to the company, this compared with $49.9 million of equity and an 8.76% equity‑to‑assets ratio at June 30, 2025.

Did FFW Corporation (FFWC) return capital to shareholders through dividends and buybacks in 2026?

Yes. For the twelve months ended June 30, 2026, FFW Corporation paid $1.24 per share in dividends and repurchased 3,810 shares year‑to‑date. According to the company, the average repurchase price was $46.09 per share, and repurchases may be suspended anytime.

How did FFW Corporation’s net interest margin (NIM) trend for the twelve months ended June 30, 2026?

FFW Corporation reported a net interest margin of 3.30% for the twelve months ended June 30, 2026. According to the company, this compared with a 2.92% net interest margin for the prior twelve‑month period, reflecting improved spread performance on earning assets.