FFW Corporation Announces Earnings for the Quarter Ended December 31, 2025

Rhea-AI Summary

FFW Corporation (OTCID: FFWC) reported quarterly and six-month results for the period ended December 31, 2025. For the three months, net income was $1.62M ($1.48/share) versus $1.44M a year earlier; net interest income rose to $4.66M from $3.99M. Six-month net income was $3.14M ($2.88/share). Total assets were $584.76M and shareholders' equity was $55.21M at December 31, 2025. The bank remains well capitalized and continued modest share repurchases during the quarter.

Positive

• Net interest income +16.7% YoY (Q): $4.66M vs $3.99M
• Quarterly net income +12.3% YoY: $1.62M vs $1.44M
• Nonperforming assets down 15.2% since June 30: $6.91M vs $8.15M

Negative

• Provision for credit losses +133% (six months): $175k vs $75k
• Borrowings increased 49% since June 30: $14.9M vs $10.0M

WABASH, Ind., Jan. 28, 2026 (GLOBE NEWSWIRE) -- FFW Corporation (the “Corporation”) (OTCID: FFWC) (01/27/2026 Close: $47.65), parent corporation of Crossroads Bank (the “Bank”), announced earnings for the quarter ended December 31, 2025.

For the three months ended December 31, 2025, the Corporation reported net income of $1,617,000 or $1.48 per common share compared to $1,440,000 or $1.29 per common share for the three months ended December 31, 2024. Net interest income for the three months ended December 31, 2025 was $4,664,000,000 compared to $3,994,000 for the three months ended December 31, 2024. Credit loss expense was $100,000 for the three months ended December 31, 2025 and $75,000 for the three months ended December 31, 2024. Total noninterest income was $1,161,000 for the three months ended December 31, 2025 compared to $1,259,000 for the three months ended December 31, 2024. Noninterest expense was $3,909,000 for the three months ended December 31, 2025 and $3,578,000 for the three months ended December 31, 2024.

For the six months ended December 31, 2025, the Corporation reported net income of $3,135,000 or $2.88 per common share compared to $2,682,000 or $2.38 per common share for the six months ended December 31, 2024. Net interest income for the six months ended December 31, 2025 was $9,179,000 compared to $7,776,000 for the six months ended December 31, 2024. The Company recognized a provision for credit losses of $175,000 for the six months ended December 31, 2025 and $75,000 for the six months ended December 31, 2024. Total noninterest income was $2,429,000 for the six months ended December 31, 2025 compared to $2,540,000 for the six months ended December 31, 2024. Noninterest expense was $7,911,000 for the six months ended December 31, 2025 and $7,273,000 for the six months ended December 31, 2024.

The three and six months ended December 31, 2025 represented a return on average common equity of 11.77% and 11.83% compared to 11.36% and 10.67% for the three and six months ended December 31, 2024. The three and six months ended December 31, 2025 represented a return on average assets of 1.11% and 1.09% compared to 0.99% and 0.93% for the three and six months ended December 31, 2024.

The allowance for credit losses as a percentage of gross loans receivable was 1.33% at December 31, 2025 compared to 1.35% at June 30, 2025. Nonperforming assets were $6,908,000 at December 31, 2025 compared to $8,147,000 at June 30, 2025.

As of December 31, 2025, FFWC’s equity-to-assets ratio was 9.44% compared to 8.76% at June 30, 2025. Total assets at December 31, 2025 were $584,760,000 compared to $570,108,000 at June 30, 2025. Shareholders’ equity was $55,209,000 at December 31, 2025 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 December 31, 2025, the Corporation repurchased 1,408 shares at an average price of $44.87. Year to date the Corporation repurchased 2,137 shares at an average price of $43.21. 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
	December 31			June 30
		2025			2025
	Unaudited
Assets
Cash and due from financial institutions	$	6,816,789		$	7,166,023
Interest-bearing deposits in other financial institutions		3,921,097			3,649,597
Cash and cash equivalents		10,737,886			10,815,620
Securities available for sale		105,061,355			103,067,093
Loans held for sale		640,500			314,800
Loans receivable, net of allowance for credit losses of $5,886,040
at December 31, 2025 and $5,703,128 at June 30, 2025		435,325,539			422,829,649
Federal Home Loan Bank stock, at cost		1,748,800			1,739,500
Accrued interest receivable		3,180,451			3,055,402
Premises and equipment, net		7,595,174			7,602,679
Mortgage servicing rights		1,019,308			1,072,056
Cash surrender value of life insurance		13,399,137			13,165,670
Goodwill		1,213,898			1,213,898
Repossessed Assets		-			38,560
Other assets		4,837,735			5,192,615
Total assets	$	584,759,783		$	570,107,542
Liabilities and shareholders' equity
Deposits
Noninterest-bearing	$	50,270,376		$	52,521,124
Interest-bearing		459,865,042			453,607,241
Total deposits		510,135,418			506,128,365
Borrowings		14,900,000			10,000,000
Accrued expenses and other liabilities		4,515,714			4,035,448
Total liabilities		529,551,132			520,163,813
Shareholders' equity
Common stock, $.01 par; 2,000,000 shares authorized;
Issued: 1,836,328; outstanding: 1,085,842 at December 31, 2025 and 1,082,978 at June 30, 2025		18,363			18,363
Additional paid-in capital		10,239,477			10,233,608
Retained earnings		68,373,991			65,911,649
Accumulated other comprehensive income (loss)		(8,747,938	)		(11,560,272	)
Treasury stock, at cost:750,486 at December 31, 2025 and
753,350 at June 30, 2025		(14,675,242	)		(14,659,619	)
Total shareholders' equity		55,208,651			49,943,729
Total liabilities and shareholders' equity	$	584,759,783		$	570,107,542

FFW Corporation Selected Financial Information
Consolidated Statement of Income
	Three Months Ended December 31						Six Months Ended December 31
		2025			2024			2025			2024
	Unaudited			Unaudited			Unaudited			Unaudited
Interest and dividend income:
Loans, including fees	$	6,222,131		$	5,759,713		$	12,342,216		$	11,490,780
Taxable securities		531,607			537,113			1,096,053			1,074,663
Tax exempt securities		398,895			411,872			796,125			817,709
Other		69,958			187,210			136,761			381,632
Total interest and dividend income		7,222,591			6,895,908			14,371,155			13,764,784
Interest expense:
Deposits		2,367,539			2,901,835			4,735,406			5,989,166
Borrowings		190,994			14			457,238			14
Total interest expense		2,558,532			2,901,849			5,192,644			5,989,180
Net interest income		4,664,059			3,994,059			9,178,511			7,775,604
Provision for credit losses		100,000			75,000			175,000			75,000
Net interest income after provision for
credit losses		4,564,059			3,919,059			9,003,511			7,700,604
Noninterest income:
Net gains on sales of loans		101,686			141,322			256,077			239,334
Net gains (losses) on fixed assets		-			35,238			25,527			35,238
Net gains (losses) on sales of REO		(2,076	)		-			(2,076	)		(684	)
Commission income		433,621			452,309			852,187			936,389
Service charges and fees		187,965			208,986			438,804			465,519
Earnings on life insurance		120,660			110,593			233,467			218,272
Other		319,043			310,600			625,241			645,474
Total noninterest income		1,160,898			1,259,048			2,429,227			2,539,542
Noninterest expense:
Salaries and benefits		2,039,308			2,004,047			4,077,795			4,045,660
Occupancy and equipment		311,941			311,383			619,057			633,457
Professional		134,926			193,931			289,807			336,682
Marketing		119,710			103,762			226,458			194,203
Deposit insurance premium		102,000			75,000			204,000			162,261
Regulatory assessment		11,019			11,569			22,037			19,282
Correspondent bank charges		25,764			24,055			52,237			46,554
Data processing		606,685			494,887			1,260,577			963,476
Printing, postage and supplies		80,286			84,644			149,721			156,852
Expense on life insurance		28,944			(82,096	)		57,888			(47,553	)
Contribution expense		2,917			9,601			10,417			19,102
Expense on REO		291			-			2,333			-
Other		445,087			347,235			938,830			743,467
Total noninterest expense		3,908,879			3,578,018			7,911,157			7,273,443
Income before income taxes		1,816,078			1,600,089			3,521,581			2,966,703
Income tax expense		198,947			160,565			386,570			284,493
Net income	$	1,617,131		$	1,439,524		$	3,135,011		$	2,682,210

FFW Corporation Selected Financial Information
Key Balances and Ratios
		Three Months Ended December 31						Six Months Ended December 31
			2025			2024			2025			2024
		Unaudited			Unaudited			Unaudited			Unaudited
Per common share data:
Earnings		$	1.48		$	1.29		$	2.88		$	2.38
Diluted earnings		$	1.48		$	1.29		$	2.88		$	2.38
Dividends paid		$	0.31		$	0.30		$	0.62		$	0.60
Average shares issued and outstanding			1,086,396			1,112,282			1,086,852			1,127,300
Shares outstanding end of period			1,085,842			1,100,198			1,085,842			1,100,198
Supplemental data:
Net interest margin **			3.29	%		2.82	%		3.26	%		2.76	%
Return on average assets ***			1.11	%		0.99	%		1.09	%		0.93	%
Return on average common equity ***			11.77	%		11.36	%		11.83	%		10.67	%
		December 31			June 30
			2025			2025
Nonperforming assets *		$	6,908,238		$	8,147,342
Repossessed assets		$	0		$	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

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

FAQ

What were FFWC's net income and EPS for the quarter ended December 31, 2025?

FFW Corporation reported net income of $1.62M, or $1.48 per share for the quarter. According to the company, this compares to $1.44M, or $1.29 per share, for the quarter ended December 31, 2024.

How did FFWC's net interest income change in Q2 fiscal 2026 compared to Q2 2025?

Net interest income rose to $4.66M in the quarter, up from $3.99M a year earlier. According to the company, this reflects higher interest income on loans and securities year-over-year.

What is the status of FFWC's asset quality at December 31, 2025?

Nonperforming assets were $6.91M at December 31, 2025, down from $8.15M at June 30, 2025. According to the company, this reduction improved overall asset quality metrics.

Did FFWC change its allowance for credit losses or provision levels in the recent results?

The company recorded a $175k provision for credit losses for the six months ended December 31, 2025, up from $75k a year earlier. According to the company, this increased reserve reflects credit allowance activity.

How much did FFWC repurchase in shares during the quarter ended December 31, 2025?

FFW Corporation repurchased 1,408 shares at an average $44.87 during the quarter. According to the company, year-to-date repurchases totaled 2,137 shares at an average $43.21.