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ELMER BANCORP INC (symbol: ELMA) is a financial services company specializing in providing a comprehensive range of banking products and services. The company is focused on delivering personalized banking experiences to both individual and business customers. ELMER BANCORP INC operates through a network of branches and ATMs, ensuring accessibility and convenience for its clients.
ELMER BANCORP INC’s core business includes personal and commercial banking, mortgage lending, and wealth management services. The company prides itself on its strong customer relationships and commitment to community development. By offering competitive rates and innovative financial solutions, ELMER BANCORP INC aims to meet the diverse needs of its clientele.
Recent achievements for ELMER BANCORP INC include the introduction of new digital banking features, which enhance the user experience through improved online and mobile banking services. The company has also reported steady financial growth, reflecting robust operational performance and prudent risk management strategies.
As part of its current projects, ELMER BANCORP INC is expanding its reach in underserved markets, emphasizing financial inclusion and support for small businesses. The company has formed strategic partnerships with fintech firms to integrate cutting-edge technologies, further enhancing its service offerings.
Financially, ELMER BANCORP INC is in a stable condition. The company has maintained a strong capital base and consistent revenue streams, driven by its customer-centric approach and efficient operational model. The emphasis on sound financial practices ensures long-term sustainability and growth potential.
Elmer Bancorp reported a net income of $311,000 for Q1 2022, down from $403,000 in Q1 2021, translating to $0.27 per diluted share. The net interest income decreased to $2.746 million, reflecting a drop due to lower fees from Payroll Protection Program loans. However, non-interest income rose slightly by $10,700, primarily from higher overdraft fees. Total assets increased to $380.8 million, and total deposits grew to $350.5 million. The company declared a cash dividend of $0.20 per share, payable on May 2, 2022. Core loans reached $260 million, up by $7.6 million year-over-year.
ELMER BANCORP, INC. (OTC Pink: ELMA) declared a $0.20 cash dividend per common share on April 1, 2022, payable on May 2, 2022, to shareholders of record as of April 15, 2022. President and CEO Brian W. Jones noted that maintaining the dividend reflects a conservative payout approach while ensuring a return on investment for shareholders. The company will hold its Annual Meeting of Shareholders virtually on June 7, 2022, at 2:00 p.m. Eastern Time, with a record date of April 14, 2022.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $412,000 for Q4 2021, up 28% from Q4 2020. For the full year, net income reached $1.949 million, an increase of 32.7% year-over-year. Net interest income for Q4 was $2.798 million, down 12% due to reduced loan demand and PPP loan fee income. Total assets grew to $375.7 million, with deposits rising to $344.5 million. Despite a $25.4 million drop in total loans, the company's core assets increased significantly. The book value per share rose to $25.50 compared to $24.55 in 2020.
Elmer Bancorp (OTC Pink: ELMA) reported strong financial results for Q3 and YTD September 30, 2021. Net income for Q3 reached $604,000 ($0.53/share), up from $183,000 ($0.16/share) in the same quarter last year. For the nine months, net income rose to $1.537 million ($1.34/share) from $1.147 million ($1.00/share). Net interest income was $2.971 million in Q3, a $255,000 increase year-over-year. Total assets climbed to $370.8 million, with deposits growing by $42.6 million. A dividend of $0.20/share was declared, reflecting a 17.6% increase from April 2021.
Elmer Bancorp announced a cash dividend of $0.20 per common share, reflecting a 17.6% increase from the previous $0.17 per share declared in April 2021. This dividend will be payable on November 1, 2021, to shareholders of record as of October 15, 2021. The company's leadership emphasized their commitment to enhancing shareholder returns while maintaining a strong capital position. Elmer Bancorp has been serving its community since 1903 through its subsidiary, The First National Bank of Elmer, offering deposit and loan products across several counties in New Jersey.
Elmer Bancorp, Inc. (OTC: ELMA) announced the retirement of Cindee F. Low as Chairman of the Board effective September 1, 2021. Under her leadership, the company's assets grew from $220 million to $371 million. P. Scott Boyer, previously Vice Chairman, has been appointed as the new Chairman, while Robert A. Woodruff, Jr. will serve as Vice Chairman. The First National Bank of Elmer, established in 1903, offers community banking services across Cumberland, Gloucester, and Salem Counties in New Jersey.
Elmer Bancorp, parent of The First National Bank of Elmer (OTC Pink: ELMA), reported a net income of $530,000, or $0.46 per share for Q2 2021, an increase from $492,000 or $0.43 per share in Q2 2020. Year-to-date net income was $933,000, lower than $964,000 in 2020. Net interest income rose to $2.952 million for Q2 2021, boosted by income from Payroll Protection Program loans. Total assets increased to $371.4 million, yet loans decreased to $267.7 million. Deposits grew to $340.5 million, reflecting strong customer support amid the pandemic.
Elmer Bancorp, parent of The First National Bank of Elmer, reported Q1 2021 net income of $403,000 ($0.35/share), down from $472,000 ($0.41/share) in Q1 2020. Net interest income increased to $3.152 million, buoyed by PPP loan fees. Total assets rose to $353.2 million from $286.1 million YoY. Loans amounted to $278.5 million, while core loans decreased slightly. Deposits increased to $322.6 million. A cash dividend of $0.17/share was declared for May 3, 2021. The company remains cautious on loan losses amid ongoing pandemic uncertainties.
Elmer Bancorp, Inc. (OTC Pink: ELMA) declared a cash dividend of $0.17 per common share on April 1, 2021, an increase from $0.16 in November 2020. This dividend is payable on May 3, 2021, to shareholders of record as of April 16, 2021. CEO Brian W. Jones noted the Board's decision aims to provide shareholder returns amid economic uncertainties. The Company also scheduled its Annual Meeting of Shareholders for June 1, 2021, with a record date for voting on April 9, 2021.
Elmer Bancorp (OTC Pink: ELMA) reported a net income of $322,000 ($0.28 per share) for Q4 2020, down from $581,000 ($0.51 per share) a year earlier. The full year net income dropped to $1.469 million ($1.28 per share) from $2.067 million ($1.80 per share) in 2019. Total assets increased to $330.4 million, up $44.6 million year-over-year. Core loans rose by $12 million, while total loans reached $279.4 million. Deposits grew by $43.2 million, totaling $300.4 million. However, provisions for loan losses increased to $360,000 in Q4 2020.
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