Elmer Bancorp, Inc. Announces Another Year of Record Earnings, Fourth Quarter and 2025 Annual Financial Results

ELMER, N.J.--(BUSINESS WIRE)--ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTCID: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the fourth quarter and full year ended December 31, 2025.

For the three months ended December 31, 2025, Elmer Bancorp reported net income of $718,000, or $0.63 per common share compared to $715,000, or $0.63 per common share for the quarter ended December 31, 2024. For the twelve months ended December 31, 2025, net income totaled $3.302 million, or $2.89 per common share compared to $2.851 million, or $2.50 per common share for the twelve months ended December 31, 2024.

Net interest income for the three months ended December 31, 2025 totaled $4.036 million, an increase of $337,000 from the three months ended December 31, 2024 total of $3.699 million. This increase in net interest income is the result of higher interest and fees on loans and higher income on our overnight investments partially offset by higher interest paid on deposits. For the twelve months ended December 31, 2025, net interest income totaled $15.928 million, an increase of $1.343 million from the twelve months ended December 31, 2024 total of $14.585 million. This increase in net interest income for the twelve-month period results from higher interest and fees on loans resulting from core loan growth year-over-year partially offset by lower interest income on our overnight investments and higher interest paid on deposits. The loan loss provision was increased by $33,000 in the fourth quarter of 2025 and increased by $156,000 for the twelve months ended December 31, 2025 compared to an increase of $20,000 in the fourth quarter of 2024 and a decrease of $47,000 for the twelve months ended December 31, 2024. The variances in the loan loss provision are the result of the required loan loss calculation under the Current Expected Credit Loss (“CECL”) model. The allowance for loan losses was 1.27% of total core loans at December 31, 2025 compared to 1.28% of total core loans at December 31, 2024.

Non-interest income for the three months ended December 31, 2025 was $30,000 higher than the same three-month period a year ago and $627,000 higher than the twelve-month period last year. Increases in the cash surrender value of Bank Owned Life Insurance (“BOLI”) and increases in service fee income accounted for the increase in the three-month period. For the increase in the twelve-month period, the one-time BOLI payout of $530,000, higher service fee income and increased Visa credit card commissions were partially offset by no loss on Other Real Estate Owned (“OREO”).

Non-interest expenses for the three months ended December 31, 2025 were $355,000 higher than the same three-month period a year ago and $1.361 million higher than the twelve-month period last year. For the three-month period, the increase was the result of increases in employment costs, professional fees and other operating costs partially offset by a decrease in OREO expenses. For the twelve-month period, the increase was the result of higher employment costs, professional fees and occupancy and equipment expenses partially offset by lower OREO expenses.

Elmer Bancorp’s total assets at December 31, 2025 totaled $409.4 million, an increase of $28.7 million from the December 31, 2024 level of $380.7 million. Excluding $6.5 million in overnight funds from a large temporary deposit in December 2025, total core assets increased $22.2 million. Total loans were $327.3 million at December 31, 2025, an increase of $12.9 million from the December 31, 2024 total of $314.4 million. In addition, overnight investments increased $16.2 million.

Deposits totaled $367.9 million at December 31, 2025, an increase of $24.4 million from the December 31, 2024 level of $343.5 million. Excluding the December 31, 2025 large temporary deposit of $6.5 million, total core deposits increased $17.9 million. The positive variance from December 31, 2024 resulted from increases in certificates of deposit ($13.3 million), money market accounts ($7.3 million), demand deposits ($4.2 million) and interest-bearing checking accounts ($2.3 million) partially offset by decreases in savings deposits ($2.3 million) and IRA accounts ($847,000). This increase in deposits is the result of a money market and CD promotion to obtain new deposits. The Bank will continue to evaluate the current deposit environment and adjust, as appropriate, to maintain its strong deposit base. Stockholders’ equity totaled $39.1 million at December 31, 2025 compared to $35.4 million at December 31, 2024, an increase of $3.7 million. Elmer Bancorp’s book value per common share at December 31, 2025 was $33.91 per share compared to $30.91 per share at December 31, 2024. The Company and the Bank met all regulatory capital requirements at December 31, 2025.

Brian W. Jones, President and Chief Executive Officer, commented, “We are very pleased to report record net income of $3.302 million for year-end 2025 driven primarily by strong loan and deposit growth. Our total assets crossed the $400 million threshold reaching $409.4 million in the fourth quarter of 2025. Total loans increased $12.9 million to $327.3 million or 4.1%. Core deposit growth was $17.9 million or an increase of 5.2%. Our Loan Production Office (“LPO”) in Marlton continues to produce excellent results and support our client base in Burlington and Camden Counties. It was also a year of advancement in our service and product offerings, such as Positive Pay for business accounts, our new True Grow account and a new Instagram presence. As we look forward to 2026, I would like to thank our loyal customer base, our outstanding team members and our Board of Directors for their ongoing support.”

Chairman, P. Scott Boyer, stated, “I want to thank all of our employees for their dedication and hard work that resulted in 2025 being the best year in our Bank's history.”

The First National Bank of Elmer, a nationally chartered bank headquartered in Elmer, New Jersey, has a long history of serving the community since its beginnings in 1903. We are a community bank focused on providing deposit and loan products to retail customers and to small and mid-sized businesses from our six full-service branch offices located in Cumberland, Gloucester and Salem Counties, New Jersey, including our main office located at 10 South Main Street in Elmer, New Jersey. In addition to our branch offices, the bank also operates a loan production office (“LPO”) located in Marlton, NJ to service our clients in Burlington County. Deposits at The First National Bank of Elmer are insured up to the legally maximum amount by the Federal Deposit Insurance Corporation (FDIC).

For more information about Elmer Bank and its products and services, please visit our website at www.ElmerBank.com or call toll free 1-877-358-8141.

Forward-Looking Statements

This press release and other statements made from time to time by the Company’s management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include economic conditions affecting the financial industry: changes in interest rates and shape of the yield curve, credit risk associated with our lending activities, risks relating to our market area, significant real estate collateral and the real estate market, operating, legal and regulatory risk, fiscal and monetary policy, economic, political and competitive forces affecting our business, our ability to identify and address cyber-security risks, and management’s analysis of these risks and factors being incorrect, and/or the strategies developed to address them being unsuccessful. Any statements made that are not historical facts should be considered forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information of future events, except as may be required by applicable law or regulation.

ELMER BANCORP, INC. AND SUBSIDIARIES
SELECTED FINANCIAL DATA
(unaudited)
	Twelve Months Ended						Three Months Ended
	12/31/2025			12/31/2024			12/31/2025			9/30/2025			6/30/2025			3/31/2025
Statement of Income Data:	(dollars in thousands, except per share data)
Interest income	$	20,429		$	18,270		$	5,231		$	5,293		$	5,151		$	4,754
Interest expense		4,501			3,685			1,195			1,182			1,150			973
Net interest income		15,928			14,585			4,036			4,111			4,001			3,781
Provision for loan losses		156			(47	)		33			40			44			40
Net interest income after provision for loan losses		15,772			14,632			4,003			4,071			3,957			3,741
Non-interest income		1,720			1,093			316			298			287			818
Non-interest expense		13,232			11,871			3,355			3,334			3,249			3,293
Income before income tax expense		4,260			3,854			964			1,035			995			1,266
Income tax expense		958			1,003			246			267			258			187
Net income	$	3,302		$	2,851		$	718		$	768		$	737		$	1,079
Earnings per share:
Basic	$	2.89		$	2.50		$	0.63		$	0.67		$	0.64		$	0.94
Diluted	$	2.89		$	2.50		$	0.63		$	0.67		$	0.64		$	0.94
Weighted average basic shares outstanding		1,143,927			1,141,063			1,145,841			1,144,985			1,144,142			1,144,914
Weighted average diluted shares outstanding		1,144,200			1,141,661			1,146,570			1,145,490			1,144,423			1,146,095
Book value per share	$	33.91		$	30.91		$	33.91		$	33.36		$	32.44		$	31.86
Statement of Condition Data (Period End):	12/31/2025			12/31/2024			12/31/2025			9/30/2025			6/30/2025			3/31/2025
Cash & due from banks	$	46,422		$	30,246		$	46,422		$	51,203		$	47,293		$	29,774
Total investments		23,223			23,053			23,223			23,246			23,150			23,173
Total gross loans		327,269			314,365			327,269			323,248			322,262			320,385
Allowance for loan losses		(4,162	)		(4,035	)		(4,162	)		(4,122	)		(4,077	)		(4,030	)
Accrued interest receivable		1,019			949			1,019			1,006			958			937
Premises & equipment, net		3,722			3,764			3,722			3,764			3,796			3,821
Other real estate owned		-			1,134			-			-			-			-
Bank owned life insurance		8,848			8,101			8,848			8,774			7,703			7,641
Other assets		3,078			3,148			3,078			3,039			3,496			3,217
Total assets	$	409,419		$	380,725		$	409,419		$	410,158		$	404,581		$	384,918
Total deposits	$	367,905		$	343,459		$	367,905		$	369,217		$	365,275		$	346,048
Accrued interest payable		252			190			252			235			178			149
Other liabilities		2,212			1,693			2,212			2,278			1,756			2,021
Total liabilities	$	370,369		$	345,342		$	370,369		$	371,730		$	367,209		$	348,218
Total stockholders' equity	$	39,050		$	35,383		$	39,050		$	38,428		$	37,372		$	36,700
Total liabilities & stockholders' equity	$	409,419		$	380,725		$	409,419		$	410,158		$	404,581		$	384,918