COMMUNITY HERITAGE FINCL - CMHF STOCK NEWS

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.

Community Heritage Financial, Inc. reported net income of $1.4 million for Q1 2024, representing a 52.3% increase from Q4 2023. Total assets grew to $1,064.4 million, with loans increasing to $830.6 million. Asset quality remained strong with non-performing assets at 0.17%. The NIM improved to 2.80% in Q1 2024. Tangible book value per share increased to $24.35. Dividend of $0.06 per share was declared.

Community Heritage Financial, Inc. announced a quarterly cash dividend of $0.06 per share for the first quarter of 2024. The dividend will be payable on May 10, 2024, to shareholders of record on May 3, 2024. The company is the parent of Middletown Valley Bank, operating in multiple counties since 1908. For more information, visit their websites.

Community Heritage Financial, Inc. (CMHF) reported a decrease in net income for 2023 compared to 2022, with a decline of $2.6 million. Despite the challenges of a volatile interest rate environment and uncertain economic conditions, the company experienced strong growth in total assets, loans, and deposits. However, the net interest margin declined due to increased funding costs and pressure on earnings. Operating expenses also increased, affecting overall financial performance.