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William Penn Bancorporation operates as an independent community financial services provider, offering traditional banking services to individual, business, and government customers through its branch network. The bank provides a range of financial services, including deposits, loans, and other financial products.
Headquartered in Bristol, Pennsylvania, William Penn Bank serves the Delaware Valley with twelve full-service branch offices. The bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC), and its primary federal regulator is the FDIC.
The Company recently authorized a new stock repurchase program to acquire up to 1,046,610 shares of its common stock. This initiative follows the completion of previous stock repurchase programs and underscores the Company's commitment to enhancing shareholder value.
William Penn Bancorporation (NASDAQ CM:WMPN) announced its financial results for Q4 and FY 2024. The company reported a net loss of $158,000 for Q4 and net income of $168,000 for FY 2024. The Board declared a cash dividend of $0.03 per share, payable on August 8, 2024. Despite challenging market conditions, the company's net interest margin expanded by 10 basis points to 2.25% on a linked-quarter basis. William Penn continued its share repurchase program, buying back 96,117 shares at an average cost of $12.06 during Q4. The company maintained strong asset quality with a non-performing assets to total assets ratio of 0.40% as of June 30, 2024.
William Penn Bancorporation (NASDAQ: WMPN) reported net income of $183 thousand for Q3 2023 and $2.3 million for nine months, down from $824 thousand and $3.2 million respectively in Q3 2022. Core net income reached $443 thousand for Q3 and $2.3 million YTD, compared to $1.1 million and $3.0 million in the previous year. The Board declared a $0.03 dividend, payable on May 11, 2023. Total assets decreased by $17.6 million to $862.4 million, attributed mainly to share repurchases. Deposits grew by $26.1 million to $632.7 million, while borrowings fell by $27 million. Stockholders' equity dropped by $18.3 million to $174 million.
William Penn Bancorporation (NASDAQ:WMPN) reported financial results for the three and six months ending December 31, 2022. The company achieved a net income of $1.1 million, down from $1.2 million in the same period last year. Core net income also decreased to $788,000 from $1.1 million. A cash dividend of $0.03 per share was declared, payable on February 9, 2023. Loan growth was notable, with $31.0 million funded in the quarter and total deposits rising by $8.8 million. The non-performing assets ratio improved to 0.49% from 0.56%. However, total assets decreased to $870.9 million, primarily due to cash used in stock repurchases.
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