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FFW Corporation (FFWC) reports recurring financial and shareholder updates as the parent corporation of Crossroads Bank. The bank provides banking services, investment and securities products, and leasing services through Indiana banking centers, with insurance products offered through affiliated company Insurance 1 Services, Inc.
Company news commonly covers quarterly and fiscal-year earnings, net interest income, credit loss expense, noninterest income and expense, capital ratios, asset quality measures, book value, assets, shareholders’ equity, and quarterly cash dividends on FFW Corporation common stock traded on the OTC Markets.
FFW (OTC PINK: FFWC), parent of Crossroads Bank, reported financial results for the fiscal year ended June 30, 2024. Net income for Q4 2024 was $1,118,000 ($0.99 per share), down from $1,343,000 ($1.19 per share) in Q4 2023. Full-year net income for FY2024 was $4,089,000 ($3.63 per share), compared to $5,698,000 ($5.03 per share) in FY2023.
Key financial metrics for FY2024 include:
- Net interest income: $14,477,000 (down from $16,399,000 in FY2023)
- Noninterest income: $4,144,000 (up from $4,005,000)
- Noninterest expense: $14,225,000 (up from $13,433,000)
- Return on average assets: 0.74% (down from 1.07%)
- Total assets: $567,363,000 (up from $543,245,000)
- Shareholders' equity: $48,515,000 (up from $46,385,000)
FFW (OTC PINK: FFWC), parent of Crossroads Bank, announced a quarterly cash dividend of $0.29 per share, payable on June 28, 2024, to shareholders of record as of June 14, 2024. The book value per share was $41.72 as of April 30, 2024, while the closing stock price was $34.54 on May 23, 2024, with 1,126,243 shares outstanding. As of April 30, 2024, FFW reported assets of $554.9 million and shareholders' equity of $47.0 million. The Board will continue to evaluate quarterly dividends. Crossroads Bank operates multiple banking centers and offers various financial services in Indiana.
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