William Penn Bancorporation Announces Quarter End Results And Cash Dividend to Shareholders
Rhea-AI Summary
William Penn Bancorporation (NASDAQ:WMPN) reported financial results for Q4 2024, recording a net loss of $988 thousand ($0.12 per share) compared to net income of $11 thousand in Q4 2023. The company declared a cash dividend of $0.03 per share, payable February 6, 2025.
Key financial metrics include: gross loans increased by $5.4 million (4.6% annualized growth rate), non-performing assets decreased to 0.30% of total assets, and total assets decreased $22.3 million to $796.4 million. The net loss includes $731 thousand in professional fees related to the pending merger with Mid Penn Bancorp.
Book value per share increased to $13.49 from $13.33, while tangible book value per share rose to $12.93 from $12.78. The company completed a stock repurchase program, buying back 135,683 shares at $11.86 per share for a total cost of $1.6 million.
Positive
- Gross loans increased by $5.4 million (4.6% annualized growth rate)
- Non-performing assets improved to 0.30% from 0.40%
- Book value per share increased to $13.49 from $13.33
- Strong capital position with 15.59% stockholders' equity to assets ratio
Negative
- Net loss of $988 thousand in Q4 2024 vs. net income of $11 thousand in Q4 2023
- Total assets decreased $22.3 million (2.7%) to $796.4 million
- Net interest income decreased by $155 thousand (3.7%) year-over-year
- Deposits decreased by $2.4 million (0.4%)
News Market Reaction 1 Alert
On the day this news was published, WMPN declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BRISTOL, PA / ACCESSWIRE / January 15, 2025 / William Penn Bancorporation ("William Penn" or the "Company") (NASDAQ CM:WMPN), the parent company of William Penn Bank (the "Bank"), today announced its financial results for the three and six months ended December 31, 2024. William Penn recorded a net loss of
In addition, William Penn announced that its Board of Directors has declared a cash dividend of
Kenneth J. Stephon, William Penn's Chairman, President, and CEO, stated, "We remain focused on the continued strength of our balance sheet and the sound execution of our business model. During the quarter ended December 31, 2024, we had solid growth in our loan portfolio and continued improvement in our asset quality. Gross loans increased by
Highlights for the three and six months ended December 31, 2024 are as follows:
William Penn recorded a net loss of
$988 thousand and$1.0 million , or$(0.12) and$(0.12) per basic and diluted share, and a core net loss(1) of$743 thousand and$744 thousand , or$(0.09) and ($0.09) per basic and diluted share, for the three and six months ended December 31, 2024, respectively. The net loss for the three and six months ended December 31, 2024 includes$731 thousand and$836 thousand , respectively, of professional fees associated with the pending merger with Mid Penn Bancorp, Inc.Asset quality metrics remain strong with non-performing assets to total assets decreasing to
0.30% as of December 31, 2024 from0.40% as of June 30, 2024.The accumulated other comprehensive loss component of equity related to the unrealized loss on available for sale securities decreased
$1.5 million , or6.8% , during the six months ended December 31, 2024.Book value per share measured
$13.49 as of December 31, 2024 compared to$13.33 as of June 30, 2024. Tangible book value per share(2) measured$12.93 as of December 31, 2024 compared to$12.78 as of June 30, 2024. The increase in both book value per share and tangible book value per share was primarily due to a$1.5 million decrease in the accumulated other comprehensive loss component of equity related to the unrealized loss on available for sale securities and the repurchase of 135,683 shares at a total cost of$1.6 million , or$11.86 per share, under the Company's previously announced stock repurchase programs that were completed during the quarter ended December 31, 2024. These increases to book value per share and tangible book value per share were partially offset by the$1.0 million net loss recorded during the six months ended December 31, 2024 and the payment of two$0.03 per share quarterly cash dividends totaling$508 thousand .
Statement of Financial Condition
Total assets decreased
Cash and cash equivalents decreased
Total investments decreased
Net loans decreased
Deposits decreased
Borrowings decreased
Stockholders' equity decreased
Net Interest Income
For the three months ended December 31, 2024, net interest income was
For the six months ended December 31, 2024, net interest income was
Non-interest Income
For the three months ended December 31, 2024, non-interest income totaled
For the six months ended December 31, 2024, non-interest income totaled
Non-interest Expense
For the three months ended December 31, 2024, non-interest expense totaled
For the six months ended December 31, 2024, non-interest expense totaled
Income Taxes
For the three months ended December 31, 2024, the Company recorded a
For the six months ended December 31, 2024, the Company recorded a
Asset Quality
Asset quality metrics remain strong with non-performing assets to total assets decreasing to
Capital and Liquidity
As of December 31, 2024, William Penn's stockholders' equity to assets ratio totaled
The Bank continues to have substantial liquidity that has been retained in cash or invested in high quality government-backed securities. In addition, at December 31, 2024, we had the ability to borrow up to
About William Penn Bancorporation and William Penn Bank
William Penn Bancorporation, headquartered in Bristol, Pennsylvania, is the holding company for William Penn Bank, which is a community bank that serves the Delaware Valley area through twelve full-service branch offices in Bucks County and Philadelphia, Pennsylvania, and Burlington, Camden and Mercer Counties in New Jersey. The Company's executive offices are located at 10 Canal Street, Suite 104, Bristol, Pennsylvania 19007. William Penn Bank's deposits are insured up to the legal maximum (generally
Forward Looking Statements
This news release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, but are not limited to, general economic conditions (including higher inflation and its impact on national and local economic conditions), changes in the interest rate environment, legislative or regulatory changes that may adversely affect our business, changes in accounting policies and practices, changes in competition and demand for financial services, changes to consumer and business confidence, investor sentiment, or consumer spending of savings behavior, adverse changes in the securities markets, changes in deposit flows, changes in the quality or composition of our loan or investment portfolios, the ability to attract, develop and retain qualified employees, our ability to maintain the security of our data processing and information technology systems, and that the Company may not be successful in the implementation of its business strategy. The following factors relating to the Company's pending merger with Mid Penn Bancorp, Inc., among others, could also cause our financial performance to differ materially from that expressed in forward-looking statements: (i) the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement; (ii) the ability to obtain regulatory approvals and satisfy other closing conditions to the merger, including approval by shareholders of Mid Penn Bancorp, Inc. and the Company; (iii) the outcome of any legal proceedings that may be instituted against Mid Penn Bancorp, Inc. or the Company in connection with the merger or the transactions contemplated by the merger agreement; (iv) the possibility that the merger may be more expensive to complete than anticipated; (v) diversion of management's attention from ongoing business operations and opportunities; and (vi) potential adverse reactions or changes to business or employee relationships resulting from the announcement or completion of the merger. Additionally, other risks and uncertainties may be described in William Penn's Annual Report on Form 10-K for the year ended June 30, 2024 and Current Report on Form 10-Q for the quarter ended September 30, 2024, each of which is available through the SEC's EDGAR website located at www.sec.gov. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, William Penn assumes no obligation to update any forward-looking statements.
(1)As used in this press release, core net (loss) income is a non-GAAP financial measure. This non-GAAP financial measure excludes certain pre-tax adjustments and the tax impact of such adjustments, and income tax benefit adjustments. For a reconciliation of this and other non-GAAP financial measures to their comparable GAAP measure, see "Non-GAAP Reconciliation" at the end of the press release.
(2)As used in this press release, tangible book value per share is a non-GAAP financial measure. This non-GAAP financial measure excludes goodwill and other intangible assets. For a reconciliation of this and other non-GAAP financial measures to their comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
(3)As used in this press release, total credit losses coverage ratio is a non-GAAP financial measure. This non-GAAP financial measure includes the fair value mark on acquired loans. For a reconciliation of this and other non-GAAP financial measures to their comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
(4)As used in this press release, tangible capital to tangible assets is a non-GAAP financial measure. This non-GAAP financial measure excludes goodwill and other intangible assets. For a reconciliation of this and other non-GAAP financial measures to their comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
WILLIAM PENN BANCORPORATION AND SUBSIDIARIES
Unaudited Consolidated Statements of Financial Condition
(Dollars in thousands, except share amounts)
|
| December 31, |
|
| September 30, |
|
| June 30, |
|
| December 31, |
| ||||
|
| 2024 |
|
| 2024 |
|
| 2024 |
|
| 2023 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Cash and due from banks |
| $ | 4,730 |
|
| $ | 6,928 |
|
| $ | 6,539 |
|
| $ | 6,122 |
|
Interest bearing deposits with other banks |
|
| 11,290 |
|
|
| 19,311 |
|
|
| 12,070 |
|
|
| 11,402 |
|
Federal funds sold |
|
| - |
|
|
| 271 |
|
|
| 1,589 |
|
|
| - |
|
Total cash and cash equivalents |
|
| 16,020 |
|
|
| 26,510 |
|
|
| 20,198 |
|
|
| 17,524 |
|
Interest-bearing time deposits |
|
| 100 |
|
|
| 100 |
|
|
| 100 |
|
|
| 100 |
|
Securities available-for-sale, at fair value |
|
| 145,089 |
|
|
| 154,041 |
|
|
| 150,755 |
|
|
| 160,938 |
|
Securities held-to-maturity, net of allowance for credit losses of |
|
| 85,098 |
|
|
| 86,835 |
|
|
| 93,056 |
|
|
| 96,404 |
|
Equity securities |
|
| 2,297 |
|
|
| 2,095 |
|
|
| 2,016 |
|
|
| 1,850 |
|
Loans receivable, net of allowance for credit losses of |
|
| 467,510 |
|
|
| 462,209 |
|
|
| 470,572 |
|
|
| 467,214 |
|
Premises and equipment, net |
|
| 6,877 |
|
|
| 7,041 |
|
|
| 7,186 |
|
|
| 7,521 |
|
Regulatory stock, at cost |
|
| 2,311 |
|
|
| 2,690 |
|
|
| 3,062 |
|
|
| 3,313 |
|
Deferred income taxes |
|
| 9,171 |
|
|
| 8,093 |
|
|
| 9,586 |
|
|
| 9,002 |
|
Bank-owned life insurance |
|
| 42,481 |
|
|
| 42,148 |
|
|
| 41,819 |
|
|
| 41,179 |
|
Goodwill |
|
| 4,858 |
|
|
| 4,858 |
|
|
| 4,858 |
|
|
| 4,858 |
|
Intangible assets |
|
| 289 |
|
|
| 323 |
|
|
| 356 |
|
|
| 437 |
|
Operating lease right-of-use assets |
|
| 9,763 |
|
|
| 8,140 |
|
|
| 8,300 |
|
|
| 8,617 |
|
Accrued interest receivable and other assets |
|
| 4,564 |
|
|
| 7,146 |
|
|
| 6,883 |
|
|
| 7,074 |
|
TOTAL ASSETS |
| $ | 796,428 |
|
| $ | 812,229 |
|
| $ | 818,747 |
|
| $ | 826,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
| $ | 627,436 |
|
| $ | 629,789 |
|
| $ | 629,810 |
|
| $ | 626,663 |
|
Advances from Federal Home Loan Bank |
|
| 28,000 |
|
|
| 39,000 |
|
|
| 48,000 |
|
|
| 54,000 |
|
Advances from borrowers for taxes and insurance |
|
| 2,223 |
|
|
| 1,597 |
|
|
| 2,891 |
|
|
| 2,481 |
|
Operating lease liabilities |
|
| 10,062 |
|
|
| 8,411 |
|
|
| 8,553 |
|
|
| 8,834 |
|
Accrued interest payable and other liabilities |
|
| 4,506 |
|
|
| 5,179 |
|
|
| 4,892 |
|
|
| 5,107 |
|
TOTAL LIABILITIES |
|
| 672,227 |
|
|
| 683,976 |
|
|
| 694,146 |
|
|
| 697,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
Common stock, |
|
| 92 |
|
|
| 92 |
|
|
| 93 |
|
|
| 96 |
|
Additional paid-in capital |
|
| 97,135 |
|
|
| 96,730 |
|
|
| 97,723 |
|
|
| 100,651 |
|
Unearned common stock held by employee stock ownership plan |
|
| (8,586 | ) |
|
| (8,688 | ) |
|
| (8,789 | ) |
|
| (8,991 | ) |
Retained earnings |
|
| 56,070 |
|
|
| 57,310 |
|
|
| 57,587 |
|
|
| 58,132 |
|
Accumulated other comprehensive loss |
|
| (20,510 | ) |
|
| (17,191 | ) |
|
| (22,013 | ) |
|
| (20,942 | ) |
TOTAL STOCKHOLDERS' EQUITY |
|
| 124,201 |
|
|
| 128,253 |
|
|
| 124,601 |
|
|
| 128,946 |
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
| $ | 796,428 |
|
| $ | 812,229 |
|
| $ | 818,747 |
|
| $ | 826,031 |
|
WILLIAM PENN BANCORPORATION AND SUBSIDIARIES
Unaudited Consolidated Statements of Income
(Dollars in thousands, except per share amounts)
|
| For the Three Months Ended |
|
| For the Six Months Ended |
| ||||||||||||||
|
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| |||||
|
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Loans receivable, including fees |
| $ | 6,250 |
|
| $ | 6,528 |
|
| $ | 6,194 |
|
| $ | 12,778 |
|
| $ | 12,333 |
|
Securities |
|
| 1,504 |
|
|
| 1,549 |
|
|
| 1,700 |
|
|
| 3,053 |
|
|
| 3,411 |
|
Other |
|
| 140 |
|
|
| 171 |
|
|
| 169 |
|
|
| 311 |
|
|
| 330 |
|
Total interest income |
|
| 7,894 |
|
|
| 8,248 |
|
|
| 8,063 |
|
|
| 16,142 |
|
|
| 16,074 |
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
| 3,502 |
|
|
| 3,491 |
|
|
| 3,220 |
|
|
| 6,993 |
|
|
| 5,950 |
|
Borrowings |
|
| 336 |
|
|
| 616 |
|
|
| 632 |
|
|
| 952 |
|
|
| 1,169 |
|
Total interest expense |
|
| 3,838 |
|
|
| 4,107 |
|
|
| 3,852 |
|
|
| 7,945 |
|
|
| 7,119 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net interest income |
|
| 4,056 |
|
|
| 4,141 |
|
|
| 4,211 |
|
|
| 8,197 |
|
|
| 8,955 |
|
Provision (recovery) for credit losses |
|
| 14 |
|
|
| (395 | ) |
|
| 25 |
|
|
| (381 | ) |
|
| 30 |
|
NET INTEREST INCOME AFTER PROVISION (RECOVERY) FOR CREDIT LOSSES |
|
| 4,042 |
|
|
| 4,536 |
|
|
| 4,186 |
|
|
| 8,578 |
|
|
| 8,925 |
|
OTHER INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service fees |
|
| 221 |
|
|
| 211 |
|
|
| 225 |
|
|
| 432 |
|
|
| 440 |
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| 85 |
|
|
| - |
|
|
| 85 |
|
Earnings on bank-owned life insurance |
|
| 333 |
|
|
| 329 |
|
|
| 309 |
|
|
| 662 |
|
|
| 603 |
|
Net gain on disposition of premises and equipment |
|
| 211 |
|
|
| - |
|
|
| - |
|
|
| 211 |
|
|
| - |
|
Unrealized gain on equity securities |
|
| 202 |
|
|
| 79 |
|
|
| 148 |
|
|
| 281 |
|
|
| 221 |
|
Other |
|
| 8 |
|
|
| 31 |
|
|
| 61 |
|
|
| 39 |
|
|
| 129 |
|
Total other income |
|
| 975 |
|
|
| 650 |
|
|
| 828 |
|
|
| 1,625 |
|
|
| 1,478 |
|
OTHER EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
| 3,223 |
|
|
| 2,959 |
|
|
| 2,861 |
|
|
| 6,182 |
|
|
| 5,796 |
|
Occupancy and equipment |
|
| 713 |
|
|
| 706 |
|
|
| 728 |
|
|
| 1,419 |
|
|
| 1,488 |
|
Data processing |
|
| 519 |
|
|
| 506 |
|
|
| 504 |
|
|
| 1,025 |
|
|
| 998 |
|
Professional fees |
|
| 193 |
|
|
| 223 |
|
|
| 192 |
|
|
| 416 |
|
|
| 402 |
|
Amortization of intangible assets |
|
| 33 |
|
|
| 33 |
|
|
| 41 |
|
|
| 66 |
|
|
| 82 |
|
Merger related expenses |
|
| 731 |
|
|
| 105 |
|
|
| - |
|
|
| 836 |
|
|
| - |
|
Other |
|
| 770 |
|
|
| 791 |
|
|
| 745 |
|
|
| 1,561 |
|
|
| 1,530 |
|
Total other expense |
|
| 6,182 |
|
|
| 5,323 |
|
|
| 5,071 |
|
|
| 11,505 |
|
|
| 10,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Loss) income before income taxes |
|
| (1,165 | ) |
|
| (137 | ) |
|
| (57 | ) |
|
| (1,302 | ) |
|
| 107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Income tax benefit |
|
| (177 | ) |
|
| (116 | ) |
|
| (68 | ) |
|
| (293 | ) |
|
| (83 | ) |
NET (LOSS) INCOME |
| $ | (988 | ) |
| $ | (21 | ) |
| $ | 11 |
|
| $ | (1,009 | ) |
| $ | 190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Basic (loss) earnings per share |
| $ | (0.12 | ) |
| $ | (0.00 | ) |
| $ | 0.00 |
|
| $ | (0.12 | ) |
| $ | 0.02 |
|
Diluted (loss) earnings per share |
| $ | (0.12 | ) |
| $ | (0.00 | ) |
| $ | 0.00 |
|
| $ | (0.12 | ) |
| $ | 0.02 |
|
Basic average common shares outstanding |
|
| 8,140,493 |
|
|
| 8,205,411 |
|
|
| 8,845,633 |
|
|
| 8,172,952 |
|
|
| 9,723,078 |
|
Diluted average common shares outstanding |
|
| 8,207,847 |
|
|
| 8,232,941 |
|
|
| 8,910,313 |
|
|
| 8,221,092 |
|
|
| 9,766,144 |
|
WILLIAM PENN BANCORPORATION AND SUBSIDIARIES
Unaudited Selected Consolidated Financial and Other Data
(Dollars in thousands)
The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average daily balances of assets or liabilities, respectively, for the periods presented. Loan fees, including prepayment fees, are included in interest income on loans and are not material. Non-accrual loans are included in the average balances only. Any adjustments necessary to present yields on a tax equivalent basis are insignificant.
|
| For the Three Months Ended |
| For the Six Months Ended |
| ||||||||||||||||||||||||||||||||
|
| December 31, 2024 |
| December 31, 2023 |
| December 31, 2024 |
| December 31, 2023 |
| ||||||||||||||||||||||||||||
|
| Average |
| Interest and |
| Yield/ |
| Average |
| Interest and |
| Yield/ |
| Average |
| Interest and |
| Yield/ |
| Average |
| Interest and |
| Yield/ |
| ||||||||||||
|
| Balance |
| Dividends |
| Cost |
| Balance |
| Dividends |
| Cost |
| Balance |
| Dividends |
| Cost |
| Balance |
| Dividends |
| Cost |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Loans(1) |
| $ | 467,261 |
| $ | 6,250 |
|
| 5.35 | % | $ | 472,456 |
| $ | 6,194 |
|
| 5.24 | % | $ | 467,154 |
| $ | 12,778 |
|
| 5.47 | % | $ | 475,711 |
| $ | 12,333 |
|
| 5.19 | % |
Investment securities(2) |
|
| 238,330 |
|
| 1,504 |
|
| 2.52 |
|
| 254,542 |
|
| 1,700 |
|
| 2.67 |
|
| 241,235 |
|
| 3,053 |
|
| 2.53 |
|
| 259,083 |
|
| 3,411 |
|
| 2.63 |
|
Other interest-earning assets |
|
| 10,616 |
|
| 140 |
|
| 5.28 |
|
| 11,544 |
|
| 169 |
|
| 5.86 |
|
| 11,044 |
|
| 311 |
|
| 5.63 |
|
| 11,466 |
|
| 330 |
|
| 5.76 |
|
Total interest-earning assets |
|
| 716,207 |
|
| 7,894 |
|
| 4.41 |
|
| 738,542 |
|
| 8,063 |
|
| 4.37 |
|
| 719,433 |
|
| 16,142 |
|
| 4.49 |
|
| 746,260 |
|
| 16,074 |
|
| 4.31 |
|
Non-interest-earning assets |
|
| 80,912 |
|
|
|
|
|
|
|
| 83,582 |
|
|
|
|
|
|
|
| 81,058 |
|
|
|
|
|
|
|
| 82,849 |
|
|
|
|
|
|
|
Total assets |
| $ | 797,119 |
|
|
|
|
|
|
| $ | 822,124 |
|
|
|
|
|
|
| $ | 800,491 |
|
|
|
|
|
|
| $ | 829,109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing checking accounts |
| $ | 132,256 |
|
| 408 |
|
| 1.23 | % | $ | 139,246 |
|
| 588 |
|
| 1.69 | % | $ | 129,975 |
|
| 864 |
|
| 1.33 | % | $ | 130,122 |
|
| 893 |
|
| 1.37 | % |
Money market deposit accounts |
|
| 170,644 |
|
| 1,272 |
|
| 2.98 |
|
| 194,016 |
|
| 1,458 |
|
| 3.01 |
|
| 172,698 |
|
| 2,663 |
|
| 3.08 |
|
| 197,371 |
|
| 2,884 |
|
| 2.92 |
|
Savings, including club deposits |
|
| 78,499 |
|
| 11 |
|
| 0.06 |
|
| 84,609 |
|
| 12 |
|
| 0.06 |
|
| 79,257 |
|
| 22 |
|
| 0.06 |
|
| 86,225 |
|
| 30 |
|
| 0.07 |
|
Certificates of deposit |
|
| 188,747 |
|
| 1,811 |
|
| 3.84 |
|
| 161,761 |
|
| 1,162 |
|
| 2.87 |
|
| 183,347 |
|
| 3,444 |
|
| 3.76 |
|
| 161,793 |
|
| 2,143 |
|
| 2.65 |
|
Total interest-bearing deposits |
|
| 570,146 |
|
| 3,502 |
|
| 2.46 |
|
| 579,632 |
|
| 3,220 |
|
| 2.22 |
|
| 565,277 |
|
| 6,993 |
|
| 2.47 |
|
| 575,511 |
|
| 5,950 |
|
| 2.07 |
|
FHLB advances and other borrowings |
|
| 26,489 |
|
| 336 |
|
| 5.07 |
|
| 43,652 |
|
| 632 |
|
| 5.79 |
|
| 34,777 |
|
| 952 |
|
| 5.47 |
|
| 40,739 |
|
| 1,169 |
|
| 5.74 |
|
Total interest-bearing liabilities |
|
| 596,635 |
|
| 3,838 |
|
| 2.57 |
|
| 623,284 |
|
| 3,852 |
|
| 2.47 |
|
| 600,054 |
|
| 7,945 |
|
| 2.65 |
|
| 616,250 |
|
| 7,119 |
|
| 2.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Non-interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest-bearing deposits |
|
| 57,358 |
|
|
|
|
|
|
|
| 55,266 |
|
|
|
|
|
|
|
| 57,841 |
|
|
|
|
|
|
|
| 56,158 |
|
|
|
|
|
|
|
Other non-interest-bearing liabilities |
|
| 17,567 |
|
|
|
|
|
|
|
| 18,375 |
|
|
|
|
|
|
|
| 17,461 |
|
|
|
|
|
|
|
| 17,994 |
|
|
|
|
|
|
|
Total liabilities |
|
| 671,560 |
|
|
|
|
|
|
|
| 696,925 |
|
|
|
|
|
|
|
| 675,356 |
|
|
|
|
|
|
|
| 690,402 |
|
|
|
|
|
|
|
Total equity |
|
| 125,559 |
|
|
|
|
|
|
|
| 125,199 |
|
|
|
|
|
|
|
| 125,135 |
|
|
|
|
|
|
|
| 138,707 |
|
|
|
|
|
|
|
Total liabilities and equity |
| $ | 797,119 |
|
|
|
|
|
|
| $ | 822,124 |
|
|
|
|
|
|
| $ | 800,491 |
|
|
|
|
|
|
| $ | 829,109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net interest income |
|
|
|
| $ | 4,056 |
|
|
|
|
|
|
| $ | 4,211 |
|
|
|
|
|
|
| $ | 8,197 |
|
|
|
|
|
|
| $ | 8,955 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Interest rate spread(3) |
|
|
|
|
| 1.84 | % |
|
|
|
|
|
|
| 1.90 | % |
|
|
|
|
|
|
| 1.84 | % |
|
|
|
|
|
|
| 2.00 | % |
|
|
|
Net interest-earning assets(4) |
| $ | 119,572 |
|
|
|
|
|
|
| $ | 115,258 |
|
|
|
|
|
|
| $ | 119,379 |
|
|
|
|
|
|
| $ | 130,010 |
|
|
|
|
|
|
|
Net interest margin(5) |
|
|
|
|
| 2.27 | % |
|
|
|
|
|
|
| 2.28 | % |
|
|
|
|
|
|
| 2.28 | % |
|
|
|
|
|
|
| 2.40 | % |
|
|
|
Ratio of interest-earning assets to interest-bearing liabilities |
|
| 120.04 | % |
|
|
|
|
|
|
| 118.49 | % |
|
|
|
|
|
|
| 119.89 | % |
|
|
|
|
|
|
| 121.10 | % |
|
|
|
|
|
|
(1) Includes nonaccrual loan balances and interest, if any, recognized on such loans.
(2) Includes securities available for sale and securities held to maturity.
(3) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(4) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.
(5) Net interest margin represents net interest income divided by average total interest-earning assets.
Asset Quality Indicators (unaudited)
| December 31, |
|
| September 30, |
|
| June 30, |
|
| December 31, |
| |||||
(Dollars in thousands) |
| 2024 |
|
| 2024 |
|
| 2024 |
|
| 2023 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Non-performing assets: |
|
|
|
|
|
|
|
|
|
|
|
| ||||
Non-accruing loans |
| $ | 2,403 |
|
| $ | 3,108 |
|
| $ | 3,311 |
|
| $ | 3,017 |
|
Accruing loans past due 90 days or more |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
Total non-performing loans |
| $ | 2,403 |
|
| $ | 3,108 |
|
| $ | 3,311 |
|
| $ | 3,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate owned |
|
| - |
|
|
| - |
|
|
| - |
|
|
| 141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Total non-performing assets |
| $ | 2,403 |
|
| $ | 3,108 |
|
| $ | 3,311 |
|
| $ | 3,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Non-performing loans to total loans |
|
| 0.51 | % |
|
| 0.67 | % |
|
| 0.70 | % |
|
| 0.64 | % |
Non-performing assets to total assets |
|
| 0.30 | % |
|
| 0.38 | % |
|
| 0.40 | % |
|
| 0.38 | % |
ACL to total loans and leases |
|
| 0.55 | % |
|
| 0.54 | % |
|
| 0.63 | % |
|
| 0.76 | % |
ACL to non-performing loans |
|
| 108.11 | % |
|
| 81.15 | % |
|
| 90.27 | % |
|
| 119.36 | % |
Key Performance Ratios (unaudited)
|
| For the Three Months Ended |
|
| For the Six Months Ended |
| ||||||||||||||
|
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| |||||
|
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
PERFORMANCE RATIOS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
(annualized for the three and six months ended) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
(Loss) return on average assets |
|
| (0.50 | )% |
|
| (0.01 | )% |
|
| 0.01 | % |
|
| (0.25 | )% |
|
| 0.05 | % |
Core (loss) return on average assets(5) |
|
| (0.37 | )% |
|
| (0.00 | )% |
|
| (0.08 | )% |
|
| (0.19 | )% |
|
| (0.01 | )% |
(Loss) return on average equity |
|
| (3.15 | )% |
|
| (0.07 | )% |
|
| 0.04 | % |
|
| (1.61 | )% |
|
| 0.27 | % |
Core (loss) return on average equity(5) |
|
| (2.37 | )% |
|
| (0.00 | )% |
|
| (0.54 | )% |
|
| (1.19 | )% |
|
| (0.07 | )% |
Net interest margin |
|
| 2.27 | % |
|
| 2.29 | % |
|
| 2.28 | % |
|
| 2.28 | % |
|
| 2.40 | % |
Net charge-off ratio |
|
| 0.00 | % |
|
| 0.01 | % |
|
| 0.01 | % |
|
| (0.01 | )% |
|
| (0.01 | )% |
Efficiency ratio |
|
| 122.88 | % |
|
| 111.10 | % |
|
| 100.64 | % |
|
| 117.14 | % |
|
| 98.69 | % |
Core efficiency ratio(5) |
|
| 118.04 | % |
|
| 110.74 | % |
|
| 105.51 | % |
|
| 114.35 | % |
|
| 101.67 | % |
Tangible common equity(4) |
|
| 15.05 | % |
|
| 15.25 | % |
|
| 15.07 | % |
|
| 15.05 | % |
|
| 15.07 | % |
(5) As used in this press release, core (loss) return on average assets, core (loss) return on average equity, and core efficiency ratio are non-GAAP financial measures. These non-GAAP financial measures exclude certain pre-tax adjustments and the tax impact of such adjustments, and income tax benefit adjustments. For a reconciliation of these and other non-GAAP financial measures to their comparable GAAP measures, see "Non-GAAP Reconciliation" at the end of the press release.
Non-GAAP Reconciliation (unaudited)
In this press release, we present the non-GAAP financial measures included in the tables below, which are used to evaluate our performance and exclude the effects of certain transactions and one-time events that we believe are unrelated to our core business and not necessarily indicative of our current performance or financial position. Management believes excluding these items facilitates greater visibility into our core businesses and underlying trends that may, to some extent, be obscured by inclusion of such items. The following tables include a reconciliation of the non-GAAP financial measures used in this press release to their comparable GAAP measures.
William Penn Bancorporation and Subsidiaries
Non-GAAP Reconciliation
(Dollars in thousands, except share and per share data)
|
| December 31, |
|
| June 30, |
| ||
|
| 2024 |
|
| 2024 |
| ||
Calculation of tangible capital to tangible assets: |
|
|
|
|
|
| ||
Total assets (GAAP) |
| $ | 796,428 |
|
| $ | 818,747 |
|
Less: Goodwill and other intangible assets |
|
| 5,147 |
|
|
| 5,214 |
|
Tangible assets (non-GAAP) |
| $ | 791,281 |
|
| $ | 813,533 |
|
|
|
|
|
|
|
|
| |
Total stockholders' equity (GAAP) |
| $ | 124,201 |
|
| $ | 124,601 |
|
Less: Goodwill and other intangible assets |
|
| 5,147 |
|
|
| 5,214 |
|
Total tangible equity (non-GAAP) |
| $ | 119,054 |
|
| $ | 119,387 |
|
|
|
|
|
|
|
|
| |
Stockholders' equity to assets (GAAP) |
|
| 15.59 | % |
|
| 15.22 | % |
Tangible capital to tangible assets (non-GAAP) |
|
| 15.05 | % |
|
| 14.68 | % |
|
|
|
|
|
|
|
| |
Calculation of tangible book value per share: |
|
|
|
|
|
|
|
|
Total stockholders' equity (GAAP) |
| $ | 124,201 |
|
| $ | 124,601 |
|
Less: Goodwill and other intangible assets |
|
| 5,147 |
|
|
| 5,214 |
|
Total tangible equity (non-GAAP) |
| $ | 119,054 |
|
| $ | 119,387 |
|
|
|
|
|
|
|
|
| |
Total common shares outstanding |
|
| 9,208,217 |
|
|
| 9,343,900 |
|
|
|
|
|
|
|
|
| |
Book value per share (GAAP) |
| $ | 13.49 |
|
| $ | 13.33 |
|
Tangible book value per share (non-GAAP) |
| $ | 12.93 |
|
| $ | 12.78 |
|
|
|
|
|
|
|
|
| |
Calculation of the total credit losses coverage ratio: |
|
|
|
|
|
|
|
|
Allowance for credit losses |
| $ | 2,598 |
|
| $ | 2,989 |
|
Purchase accounting fair value mark |
|
| 2,038 |
|
|
| 2,171 |
|
Total credit losses coverage |
| $ | 4,636 |
|
| $ | 5,160 |
|
Gross loans receivable |
| $ | 470,108 |
|
| $ | 473,561 |
|
Gross loans receivable, excluding purchase accounting fair value mark |
| $ | 472,146 |
|
| $ | 475,732 |
|
|
|
|
|
|
|
|
| |
Allowance for credit losses to total loans (GAAP) |
|
| 0.55 | % |
|
| 0.63 | % |
Total credit losses coverage to total loans (non-GAAP) |
|
| 0.98 | % |
|
| 1.08 | % |
|
| For the Three Months Ended |
|
| For the Six Months Ended |
| ||||||||||||||
|
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| |||||
|
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
Calculation of core net (loss) income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net (loss) income (GAAP) |
| $ | (988 | ) |
| $ | (21 | ) |
| $ | 11 |
|
| $ | (1,009 | ) |
| $ | 190 |
|
Less pre-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (85 | ) |
|
| - |
|
|
| (85 | ) |
Net gain on disposition of premises and equipment |
|
| (211 | ) |
|
| - |
|
|
| - |
|
|
| (211 | ) |
|
| - |
|
Unrealized gain on equity securities |
|
| (202 | ) |
|
| (79 | ) |
|
| (148 | ) |
|
| (281 | ) |
|
| (221 | ) |
Merger related expenses |
|
| 731 |
|
|
| 105 |
|
|
| - |
|
|
| 836 |
|
|
| - |
|
Tax impact of pre-tax adjustments |
|
| (73 | ) |
|
| (6 | ) |
|
| 54 |
|
|
| (79 | ) |
|
| 70 |
|
Core net (loss) income (non-GAAP) |
| $ | (743 | ) |
| $ | (1 | ) |
| $ | (168 | ) |
| $ | (744 | ) |
| $ | (46 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation of core basic (loss) earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (loss) earnings per share (GAAP) |
| $ | (0.12 | ) |
| $ | (0.00 | ) |
| $ | 0.00 |
|
| $ | (0.12 | ) |
| $ | 0.02 |
|
Less pre-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (0.01 | ) |
|
| - |
|
|
| (0.01 | ) |
Net gain on disposition of premises and equipment |
|
| (0.03 | ) |
|
| - |
|
|
| - |
|
|
| (0.03 | ) |
|
| - |
|
Unrealized gain on equity securities |
|
| (0.02 | ) |
|
| (0.01 | ) |
|
| (0.02 | ) |
|
| (0.03 | ) |
|
| (0.02 | ) |
Merger related expenses |
|
| 0.09 |
|
|
| 0.01 |
|
|
| - |
|
|
| 0.10 |
|
|
| - |
|
Tax impact of pre-tax adjustments |
|
| (0.01 | ) |
|
| - |
|
|
| 0.01 |
|
|
| (0.01 | ) |
|
| 0.01 |
|
Core basic (loss) earnings per share (non-GAAP) |
| $ | (0.09 | ) |
| $ | (0.00 | ) |
| $ | (0.02 | ) |
| $ | (0.09 | ) |
| $ | (0.00 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation of core diluted (loss) earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted (loss) earnings per share (GAAP) |
| $ | (0.12 | ) |
| $ | (0.00 | ) |
| $ | 0.00 |
|
| $ | (0.12 | ) |
| $ | 0.02 |
|
Less pre-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (0.01 | ) |
|
| - |
|
|
| (0.01 | ) |
Net gain on disposition of premises and equipment |
|
| (0.03 | ) |
|
| - |
|
|
| - |
|
|
| (0.03 | ) |
|
| - |
|
Unrealized gain on equity securities |
|
| (0.02 | ) |
|
| (0.01 | ) |
|
| (0.02 | ) |
|
| (0.03 | ) |
|
| (0.02 | ) |
Merger related expenses |
|
| 0.09 |
|
|
| 0.01 |
|
|
| - |
|
|
| 0.10 |
|
|
| - |
|
Tax impact of pre-tax adjustments |
|
| (0.01 | ) |
|
| - |
|
|
| 0.01 |
|
|
| (0.01 | ) |
|
| 0.01 |
|
Core diluted (loss) earnings per share (non-GAAP) |
| $ | (0.09 | ) |
| $ | (0.00 | ) |
| $ | (0.02 | ) |
| $ | (0.09 | ) |
| $ | (0.00 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation of core (loss) return on average assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) return on average assets (GAAP) |
|
| (0.50 | )% |
|
| (0.01 | )% |
|
| 0.01 | % |
|
| (0.25 | )% |
|
| 0.05 | % |
Less pre-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (0.04 | )% |
|
| - |
|
|
| (0.02 | )% |
Net gain on disposition of premises and equipment |
|
| (0.11 | )% |
|
| - |
|
|
| - |
|
|
| (0.05 | )% |
|
| - |
|
Unrealized gain on equity securities |
|
| (0.10 | )% |
|
| (0.04 | )% |
|
| (0.08 | )% |
|
| (0.07 | )% |
|
| (0.06 | )% |
Merger related expenses |
|
| 0.38 | % |
|
| 0.05 | % |
|
| - |
|
|
| 0.20 | % |
|
| - |
|
Tax impact of pre-tax adjustments |
|
| (0.04 | )% |
|
| - |
|
|
| 0.03 | % |
|
| (0.02 | )% |
|
| 0.02 | % |
Core (loss) return on average assets (non-GAAP) |
|
| (0.37 | )% |
|
| (0.00 | )% |
|
| (0.08 | )% |
|
| (0.19 | )% |
|
| (0.01 | )% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average assets |
| $ | 797,119 |
|
| $ | 803,863 |
|
| $ | 822,124 |
|
| $ | 800,491 |
|
| $ | 829,109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation of core (loss) return on average equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) return on average equity (GAAP) |
|
| (3.15 | )% |
|
| (0.07 | )% |
|
| 0.04 | % |
|
| (1.61 | )% |
|
| 0.27 | % |
Less pre-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (0.27 | )% |
|
| - |
|
|
| (0.12 | )% |
Net gain on disposition of premises and equipment |
|
| (0.67 | )% |
|
| - |
|
|
| - |
|
|
| (0.34 | )% |
|
| - |
|
Unrealized gain on equity securities |
|
| (0.64 | )% |
|
| (0.25 | )% |
|
| (0.48 | )% |
|
| (0.45 | )% |
|
| (0.32 | )% |
Merger related expenses |
|
| 2.32 | % |
|
| 0.34 | % |
|
| - |
|
|
| 1.34 | % |
|
| - |
|
Tax impact of pre-tax adjustments |
|
| (0.23 | )% |
|
| (0.02 | )% |
|
| 0.17 | % |
|
| (0.13 | )% |
|
| 0.10 | % |
Core (loss) return on average equity (non-GAAP) |
|
| (2.37 | )% |
|
| (0.00 | )% |
|
| (0.54 | )% |
|
| (1.19 | )% |
|
| (0.07 | )% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average equity |
| $ | 125,559 |
|
| $ | 125,669 |
|
| $ | 125,199 |
|
| $ | 125,135 |
|
| $ | 138,707 |
|
|
| For the Three Months Ended |
|
| For the Six Months Ended |
| ||||||||||||||
|
| December 31, |
|
| September 30, |
|
| December 31, |
|
| December 31, |
|
| December 31, |
| |||||
|
| 2024 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
Calculation of core efficiency ratio: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Non-interest expense (GAAP) |
| $ | 6,182 |
|
| $ | 5,323 |
|
| $ | 5,071 |
|
| $ | 11,505 |
|
| $ | 10,296 |
|
Less adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merger related expenses |
|
| (731 | ) |
|
| (105 | ) |
|
| - |
|
|
| (836 | ) |
|
| - |
|
Core non-interest expense (non-GAAP) |
| $ | 5,451 |
|
| $ | 5,218 |
|
| $ | 5,071 |
|
| $ | 10,669 |
|
| $ | 10,296 |
|
Net interest income |
| $ | 4,056 |
|
| $ | 4,141 |
|
| $ | 4,211 |
|
| $ | 8,197 |
|
| $ | 8,955 |
|
Non-interest income (GAAP) |
| $ | 975 |
|
| $ | 650 |
|
| $ | 828 |
|
| $ | 1,625 |
|
| $ | 1,478 |
|
Less adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on sale of securities |
|
| - |
|
|
| - |
|
|
| (85 | ) |
|
| - |
|
|
| (85 | ) |
Net gain on disposition of premises and equipment |
|
| (211 | ) |
|
| - |
|
|
| - |
|
|
| (211 | ) |
|
| - |
|
Unrealized gain on equity securities |
|
| (202 | ) |
|
| (79 | ) |
|
| (148 | ) |
|
| (281 | ) |
|
| (221 | ) |
Core non-interest income (non-GAAP) |
| $ | 562 |
|
| $ | 571 |
|
| $ | 595 |
|
| $ | 1,133 |
|
| $ | 1,172 |
|
Efficiency ratio (GAAP) |
|
| 122.88 | % |
|
| 111.10 | % |
|
| 100.64 | % |
|
| 117.14 | % |
|
| 98.69 | % |
Core efficiency ratio (non-GAAP) |
|
| 118.04 | % |
|
| 110.74 | % |
|
| 105.51 | % |
|
| 114.35 | % |
|
| 101.67 | % |
CONTACT:
Kenneth J. Stephon
Chairman, President and CEO
PHONE: (856) 656-2201, ext. 1009
SOURCE: William Penn Bancorporation
View the original press release on accesswire.com
FAQ
What was William Penn Bancorporation's (WMPN) Q4 2024 earnings per share?
How much is WMPN's quarterly dividend payment for February 2025?
What was WMPN's book value per share as of December 31, 2024?
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What is WMPN's asset quality ratio as of December 31, 2024?
