Welcome to our dedicated page for Community Herita news (Ticker: CMHF), a resource for investors and traders seeking the latest updates and insights on Community Herita stock.
About Community Heritage Financial, Inc. (CMHF)
Community Heritage Financial, Inc. (CHF), traded under the symbol CMHF, is a diversified financial services holding company headquartered in Middletown, Maryland. Established as the parent company of Middletown Valley Bank (MVB), CHF provides a comprehensive suite of personal and business banking services, mortgage lending, and cash management solutions. Through its wholly owned subsidiary, Millennium Financial Services, Inc. (Mlend), the company extends its reach into mortgage origination and lending. Originating in 1908, CHF has deep roots in the communities it serves, operating across Maryland counties including Frederick, Washington, Garrett, and Anne Arundel, as well as Franklin County, Pennsylvania.
Core Business Model
CHF’s business model is centered on generating revenue from interest income on loans, non-interest income from service charges, and mortgage banking activities. The company’s loan portfolio is diversified across residential real estate, commercial real estate, and business loans, with a strategic focus on non-owner-occupied commercial properties and home equity lending. Additionally, CHF leverages its cash management services to attract commercial clients, enhancing fee-based income streams. The company’s deposit base, which includes NOW accounts, time deposits, and money market accounts, serves as a primary funding source for its lending activities.
Market Position and Competitive Landscape
Operating in the community banking sector, CHF faces competition from regional banks and larger financial institutions. However, its localized focus, personalized customer service, and strong community ties provide a competitive edge. The company differentiates itself through strategic initiatives such as participation in the Federal Reserve’s Bank Term Funding Program (BTFP), which has supported asset growth and improved net interest margins. CHF’s proactive approach to managing deposit costs and optimizing its funding mix further strengthens its market position.
Operational Strengths
CHF consistently demonstrates strong asset quality metrics, with low levels of non-performing assets and a disciplined approach to credit risk management. The company’s net interest margin has shown steady improvement, reflecting its ability to adapt to changing interest rate environments. Additionally, CHF’s investment in technology and cash management services enhances its value proposition for commercial clients, driving growth in fee-based revenues.
Community-Centric Approach
As a community-focused institution, CHF prioritizes building lasting relationships with its customers. Its commitment to local economic development and personalized banking solutions underscores its role as a trusted financial partner. The company’s long-standing presence in its markets, coupled with its focus on customer-centric innovation, positions it as a vital contributor to the financial well-being of the communities it serves.
Strategic Outlook
While CHF operates in a competitive and evolving financial landscape, its strategic focus on asset quality, deposit growth, and diversified revenue streams positions it for sustained performance. By leveraging its community banking expertise and maintaining a disciplined approach to risk management, CHF continues to navigate challenges and capitalize on growth opportunities within its regional markets.
Community Heritage Financial (CMHF) reported strong financial results for 2024, with net income reaching $6.6 million ($2.27 per diluted share), marking a 54.3% increase from $4.3 million in 2023. Fourth quarter 2024 net income was $1.7 million, down from Q3 but up from Q4 2023.
Total assets reached $1.02 billion as of December 31, 2024, showing a $31.7 million increase year-over-year. Loan balances grew to $847.6 million, up 4.3% from 2023. Net interest income improved to $30.7 million in 2024, with net interest margin increasing from 2.76% to 2.92%. Asset quality remained strong with non-performing assets at 0.15% of total assets.
The company declared a dividend of $0.08 per common share, payable on February 7, 2025.
Community Heritage Financial (OTCPK: CMHF) has announced a significant increase in its quarterly cash dividend. The Board of Directors declared a quarterly dividend of $0.08 per share, representing a 33% increase from the previous dividend paid in November 2024. The dividend will be paid on February 7, 2025 to shareholders of record as of January 31, 2025.
The company operates through its subsidiary Middletown Valley Bank, which has been serving since 1908, providing personal and business banking services, along with mortgage lending through its subsidiary Millennium Financial Services (Mlend). The bank maintains operations across Maryland counties including Frederick, Washington, and Garrett, as well as in Franklin County, Pennsylvania.
Community Heritage Financial (CMHF) has completed a private offering of $12.1 million in 6.75% Fixed-to-Floating Rate Subordinated Notes due 2034. The company used these proceeds, along with internal funds, to fully redeem its existing $15.0 million 5.75% Fixed-to-Floating Notes due 2029. The new Notes will maintain a 6.75% fixed interest rate until October 30, 2029, after which they will transition to a floating rate of three-month SOFR plus 300 basis points. The Notes qualify as Tier 2 capital and are redeemable at the company's option after October 30, 2029.
Community Heritage Financial, Inc. (OTC PK: CMHF) reported net income of $2.0 million, or $0.70 per diluted share, for the third quarter of 2024. This represents a 42.0% increase from Q2 2024 and a 49.9% increase from Q3 2023. For the nine months ended September 30, 2024, net income totaled $4.9 million, or $1.68 per diluted share, a 45.1% increase from the same period in 2023.
Assets grew to $1.10 billion as of September 30, 2024, with deposits increasing by $56.1 million since December 31, 2023. Loans grew to $847.5 million, a 5.7% annualized increase from December 31, 2023. The net interest margin improved to 2.91% in Q3 2024, up from 2.83% in Q2 2024 and 2.61% in Q3 2023. Asset quality remained strong with non-performing assets to total assets at 0.14%. The Board of Directors declared a dividend of $0.06 per common share.
Community Heritage Financial, Inc. (OTCPK: CMHF) has announced a quarterly cash dividend of $0.06 per share on its common stock. The dividend is payable on November 8, 2024 to shareholders of record as of November 1, 2024. Community Heritage Financial is the parent company of Middletown Valley Bank, which provides personal and business banking services, as well as mortgage lending services through its subsidiary, Millennium Financial Services, Inc. (Mlend). The bank, originating in Middletown, Maryland in 1908, now operates offices in Frederick, Washington, Garrett and Anne Arundel counties in Maryland, and Franklin County, Pennsylvania.
Community Heritage Financial, Inc. (OTCPK: CMHF), the holding company for Middletown Valley Bank, has appointed Kelly Schulz as an independent director to its board and that of the Bank. Schulz, currently the CEO of the Maryland Tech Council, brings valuable expertise to support the company's sustainable growth strategy. Her background includes serving as Secretary of the Maryland Department of Commerce and the Department of Labor, Licensing, and Regulation, as well as a term in the Maryland House of Delegates.
James G. Pierne, Chairman of the Board, and Robert E. (BJ) Goetz, Jr., President and CEO, expressed enthusiasm about Schulz's appointment, highlighting her commitment to Frederick and Maryland. Community Heritage Financial, Inc. operates through Middletown Valley Bank, serving Maryland and Pennsylvania, and its subsidiary Mlend, a full-service mortgage lender.
Community Heritage Financial (CMHF) reported net income of $1.4 million for Q2 2024, a 2.6% increase from Q1 2024. For the first half of 2024, net income totaled $2.8 million, up 41.9% year-over-year. Assets grew to $1.09 billion as of June 30, 2024, with loans increasing to $841.0 million.
The company's net interest margin improved to 2.83% in Q2 2024, up from 2.65% in Q2 2023. Noninterest income declined slightly quarter-over-quarter but increased year-over-year. Noninterest expenses rose due to increased salaries, benefits, and FDIC insurance costs.
Asset quality remained strong with non-performing assets to total assets at 0.16%. The Board declared a dividend of $0.06 per share, payable on August 9, 2024.
Community Heritage Financial (OTCPK: CMHF) has declared a quarterly cash dividend of $0.06 per share on its common stock, payable on August 9, 2024 to shareholders of record as of August 2, 2024. The company is the parent of Middletown Valley Bank, which provides personal and business banking services, as well as mortgage lending through its subsidiary, Millennium Financial Services (Mlend).
Originating in Middletown, Maryland in 1908, the Bank now operates offices in Frederick, Washington, Garrett, and Anne Arundel counties in Maryland, and Franklin County, Pennsylvania. This dividend announcement reflects the company's commitment to delivering value to its shareholders while maintaining its strong presence in the regional banking sector.
Community Heritage Financial, Inc. welcomes Jessica Green as an independent director to the board of directors. Ms. Green brings operational expertise from her background in organizations like L'Oréal USA and Antrim Way Honda. Her appointment is expected to add value to the company and the Bank as she joins the dedicated board members in steering the organization towards continued success.
FAQ
What is the current stock price of Community Herita (CMHF)?
What is the market cap of Community Herita (CMHF)?
What does Community Heritage Financial, Inc. (CHF) do?
Where does CHF operate?
How does CHF generate revenue?
What are CHF’s key strengths?
What sets CHF apart from competitors?
What types of loans does CHF offer?
How does CHF support its community?
What is CHF’s approach to risk management?
How does CHF attract commercial clients?
What is CHF’s growth strategy?
