FFW Corporation Announces Earnings for the Quarter Ended September 30, 2025

Rhea-AI Summary

FFW Corporation (OTC:FFWC) reported results for the quarter ended September 30, 2025: net income $1,517,879 ($1.40 per share) versus $1,242,686 ($1.09) a year earlier. Net interest income was $4,514,453 versus $3,781,545 in Q3 2024. Return on average common equity rose to 11.90% and return on average assets to 1.06%. Total assets were $572.5M and shareholders' equity was $52.9M at September 30, 2025. The allowance for credit losses was 1.34% of loans; nonperforming assets were $7.42M. The company repurchased 729 shares at an average of $40.00 during the quarter.

Positive

• Net income +22.1% YoY to $1.52M
• EPS rose to $1.40 from $1.09 (+28.4%)
• Net interest income +19.4% YoY to $4.51M
• Return on average common equity increased to 11.90%

Negative

• Provision for credit losses $75,000 in Q3 2025 vs $0 prior year
• Borrowings increased to $31.8M from $10.0M at June 30, 2025

WABASH, Ind., Oct. 29, 2025 (GLOBE NEWSWIRE) -- FFW Corporation (the “Corporation”) (OTC PINK: FFWC) (10/28/25 Close: $43.50), parent corporation of Crossroads Bank (the “Bank”), announced earnings for the quarter ended September 30, 2025.

For the three months ended September 30, 2025, the Corporation reported net income of $1,518,000 or $1.40 per common share compared to $1,243,000 or $1.09 per common share for the three months ended September 30, 2024. Net interest income for the three months ended September 30, 2025 was $4,514,000,000 compared to $3,782,000 for the three months ended September 30, 2024. Credit loss expense was $75,000 for the three months ended September 30, 2025 and $0 for the three months ended September 30, 2024. Total noninterest income was $1,268,000 for the three months ended September 30, 2025 compared to $1,280,000 for the three months ended September 30, 2024. Noninterest expense was $4,002,000 for the three months ended September 30, 2025 and $3,695,000 for the three months ended September 30, 2024.

The three months ended September 30, 2025 represented a return on average common equity of 11.90% compared to 9.89% for the three months ended September 30, 2024. The three months ended September 30, 2025 represented a return on average assets of 1.06% compared to 0.86% for the three months ended September 30, 2024.

The allowance for credit losses as a percentage of gross loans receivable was 1.34% at September 30, 2025 compared to 1.30% at September 30, 2024. Nonperforming assets were $7,416,000 at September 30, 2025 compared to $8,147,000 at June 30, 2025.

As of September 30, 2025, FFWC’s equity-to-assets ratio was 9.23% compared to 8.88% at September 30, 2024. Total assets at September 30, 2025 were $572,522,000 compared to $570,108,000 at June 30, 2025. Shareholders’ equity was $52,856,000 at September 30, 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 September 30, 2025, the Corporation repurchased 729 shares at an average price of $40.00. 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
		September 30			June 30
			2025			2025
		Unaudited
Assets
Cash and due from financial institutions		$	3,958,249		$	7,166,023
Interest-bearing deposits in other financial institutions			4,657,089			3,649,597
	Cash and cash equivalents		8,615,338			10,815,620
Securities available for sale			104,752,012			103,067,093
Loans held for sale			398,609			314,800
Loans receivable, net of allowance for credit losses of $5,781,780
	at September 30, 2025 and $5,703,128 at June 30, 2025		425,452,519			422,829,649
Federal Home Loan Bank stock, at cost			1,739,500			1,739,500
Accrued interest receivable			3,063,836			3,055,402
Premises and equipment, net			7,685,798			7,602,679
Mortgage servicing rights			1,060,459			1,072,056
Cash surrender value of life insurance			13,278,477			13,165,670
Goodwill			1,213,898			1,213,898
Repossessed Assets			38,560			38,560
Other assets			5,223,192			5,192,615
	Total assets	$	572,522,198		$	570,107,542
Liabilities and shareholders' equity
Deposits
	Noninterest-bearing	$	52,773,862		$	52,521,124
	Interest-bearing		430,831,454			453,607,241
	Total deposits		483,605,316			506,128,365
Borrowings			31,800,000			10,000,000
Accrued expenses and other liabilities			4,260,386			4,035,448
	Total liabilities		519,665,702			520,163,813
Shareholders' equity
Common stock, $.01 par; 2,000,000 shares authorized;
	Issued: 1,836,328; outstanding: 1,087,250 at September 30, 2025 and 1,082,978 at June 30, 2025		18,363			18,363
Additional paid-in capital			10,187,778			10,233,608
Retained earnings			67,093,471			65,911,649
Accumulated other comprehensive income (loss)			(9,851,654	)		(11,560,272	)
Treasury stock, at cost: 749,078 at September 30, 2025 and
	753,350 at June 30, 2025		(14,591,462	)		(14,659,619	)
	Total shareholders' equity		52,856,496			49,943,729
	Total liabilities and shareholders' equity	$	572,522,198		$	570,107,542

FFW Corporation Selected Financial Information
Consolidated Statement of Income
			Three Months Ended September 30
				2025		2024
			Unaudited		Unaudited
Interest and dividend income:
	Loans, including fees		$	6,120,085	$	5,731,067
	Taxable securities			564,446		537,550
	Tax exempt securities			397,230		405,837
	Other			66,803		194,422
		Total interest and dividend income		7,148,564		6,868,876
Interest expense:
	Deposits			2,367,867		3,087,331
	Borrowings			266,244		-
		Total interest expense		2,634,111		3,087,331
Net interest income				4,514,453		3,781,545
Provision for credit losses				75,000		-
Net interest income after provision for				4,439,453		3,781,545
	credit losses
Noninterest income:
	Net gains on sales of loans			154,391		98,012
	Net gains (losses) on fixed assets			25,527		-
	Net gains (losses) on sales of REO			-		(684	)
	Commission income			418,566		484,080
	Service charges and fees			250,839		256,532
	Earnings on life insurance			112,807		107,679
	Other			306,198		334,874
		Total noninterest income		1,268,328		1,280,493
Noninterest expense:
	Salaries and benefits			2,038,487		2,041,613
	Occupancy and equipment			307,116		322,074
	Professional			154,881		142,751
	Marketing			106,748		90,441
	Deposit insurance premium			102,000		87,261
	Regulatory assessment			11,018		7,713
	Correspondent bank charges			26,473		22,499
	Data processing			653,892		468,590
	Printing, postage and supplies			69,435		72,208
	Expense on life insurance			28,944		34,542
	Contribution expense			7,500		9,501
	Expense on REO			2,042		-
	Other			493,743		396,231
		Total noninterest expense		4,002,279		3,695,424
Income before income taxes				1,705,502		1,366,614
Income tax expense				187,623		123,928
Net income			$	1,517,879	$	1,242,686

FFW Corporation Selected Financial Information
Key Balances and Ratios
		Three Months Ended September 30
			2025			2024
		Unaudited			Unaudited
Per common share data:
Earnings		$	1.40		$	1.09
Diluted earnings		$	1.40		$	1.09
Dividends paid		$	0.31		$	0.30
Average shares issued and outstanding			1,087,307			1,139,782
Shares outstanding end of period			1,087,250			1,134,993
Supplemental data:
Net interest margin **			3.23	%		2.70	%
Return on average assets ***			1.06	%		0.86	%
Return on average common equity ***			11.90	%		9.89	%
		September 30			June 30
			2025			2025
Nonperforming assets *		$	7,416,035		$	8,147,342
Repossessed assets		$	38,560		$	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 Q3 2025 net income and EPS?

FFW Corporation reported net income $1,517,879 and EPS $1.40 for the quarter ended September 30, 2025.

How did FFWC's net interest income in Q3 2025 compare to Q3 2024?

Net interest income was $4,514,453 in Q3 2025 versus $3,781,545 in Q3 2024, an increase of about 19%.

What were FFWC's return on equity and return on assets for Q3 2025?

Return on average common equity was 11.90% and return on average assets was 1.06% for Q3 2025.

Did FFWC repurchase shares in Q3 2025 and at what price?

Yes. The corporation repurchased 729 shares during the quarter at an average price of $40.00.

What credit reserve and asset-quality metrics did FFWC report at September 30, 2025?

The allowance for credit losses was 1.34% of gross loans and nonperforming assets were $7,416,035 at September 30, 2025.