Community Herita - CMHF STOCK NEWS

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.

Community Heritage Financial, Inc. (CMHF) declared a quarterly cash dividend of $0.06 per share for its common stock. The dividend will be payable on February 9, 2024, to shareholders of record on February 2, 2024. The company is the parent of Middletown Valley Bank, which offers personal and business banking services, as well as mortgage lending services through its subsidiary, Millennium Financial Services, Inc. The bank has been operating since 1908 and has offices in various Maryland counties and Franklin County, Pennsylvania.

Community Heritage Financial, Inc. (CMHF) announced the appointment of John A. Scaldara, Jr. as Executive Vice President – Finance of the Company and the Bank. Scaldara brings over 34 years of financial expertise and senior leadership experience in the banking industry. He will be transitioning to the role of Executive Vice President – Chief Financial Officer in the first quarter of 2024, replacing Robert Wolfe, who has served in his current role since 2020. The company also expressed gratitude to Wolfe for his service. Community Heritage Financial, Inc. is the parent company for Middletown Valley Bank and Millennium Financial Group, Inc. Middletown Valley Bank is a full-service commercial and retail bank with locations in Maryland and Pennsylvania, while Mlend is a full-service mortgage lender headquartered in Middletown, MD.

Community Heritage Financial reports net income of $3.37 million for the nine months ended September 30, 2023, compared to $5.41 million for the same period in 2022. Total assets grow from $974.3 million to $995.7 million. Loan balances increase by $1.1 million. Non-performing assets to total assets decrease from 0.20% to 0.19%. Net interest margin stabilizes at 2.69%. Operating expenses increase by $279 thousand. Allowance for credit losses to loans ratio decreases from 1.02% to 0.92%. Tangible book value per share increases from $22.86 to $23.18. Deposit balances increase by $38.1 million. Dividend of $0.06 per share declared.

Community Heritage Financial, Inc. declares a quarterly cash dividend of $0.06 per share on its common stock.

Community Heritage Financial, Inc. (CMHF) reported net income of $1.39 million or $0.48 per share for the first quarter of 2023, marking a decline from $1.44 million or $0.50 per share in the fourth quarter of 2022. Year-over-year, net income decreased by $431 thousand from $1.82 million in Q1 2022, which had included $320 thousand in PPP-related fees. Total assets grew to $936.6 million, up $6.5 million from Q4 2022 and $91 million year-over-year. Core loans increased by $9.1 million quarter-over-quarter to $757.6 million. However, total deposits fell by $23.6 million compared to Q4 2022, largely due to a $25 million withdrawal by a single customer. The company declared a dividend of $0.06 per share.

Community Heritage Financial, Inc. (OTCPK: CMHF) has declared a quarterly cash dividend of $0.06 per share, set to be paid on May 12, 2023. Shareholders on record as of May 5, 2023 will receive this dividend. This announcement reflects the company’s ongoing commitment to returning value to its investors. Middletown Valley Bank, a subsidiary of Community Heritage Financial, provides personal and business banking services in several Maryland counties and Franklin County, Pennsylvania. Established in 1908, the bank continues to serve its community while maintaining a focus on shareholder value.