FFW Corporation Announces Earnings for the Quarter and Year to Date Ended March 31, 2025
FFW (FFWC) reported strong financial results for Q3 2025, with net income rising to $1.4 million ($1.28 per share) compared to $920,000 ($0.82 per share) in Q3 2024. For the nine months ended March 31, 2025, net income reached $4.1 million ($3.66 per share) versus $3.0 million ($2.64 per share) in the same period last year.
Key financial metrics showed improvement with net interest income increasing to $4.1 million in Q3 2025 from $3.5 million in Q3 2024. The return on average assets rose to 1.00% from 0.66%, while return on average equity improved to 11.39% from 7.67%. Total assets stood at $571.9 million as of March 31, 2025.
However, nonperforming assets increased significantly to $8.7 million from $4.0 million at June 30, 2024. The maintains an active share repurchase program, having repurchased 13,708 shares at an average price of $39.98 during Q3 2025.
FFW (FFWC) ha riportato risultati finanziari solidi per il terzo trimestre 2025, con un utile netto salito a 1,4 milioni di dollari (1,28 dollari per azione) rispetto a 920.000 dollari (0,82 dollari per azione) nel terzo trimestre 2024. Nei nove mesi terminati il 31 marzo 2025, l’utile netto ha raggiunto 4,1 milioni di dollari (3,66 dollari per azione) contro 3,0 milioni di dollari (2,64 dollari per azione) nello stesso periodo dell’anno precedente.
I principali indicatori finanziari hanno mostrato miglioramenti, con il reddito netto da interessi aumentato a 4,1 milioni di dollari nel terzo trimestre 2025 rispetto a 3,5 milioni nel terzo trimestre 2024. Il rendimento medio degli attivi è salito all’1,00% dallo 0,66%, mentre il rendimento medio del patrimonio netto è migliorato all’11,39% dal 7,67%. Il totale degli attivi ammontava a 571,9 milioni di dollari al 31 marzo 2025.
Tuttavia, le attività in sofferenza sono aumentate significativamente a 8,7 milioni di dollari rispetto a 4,0 milioni al 30 giugno 2024. La società mantiene un programma attivo di riacquisto azionario, avendo riacquistato 13.708 azioni a un prezzo medio di 39,98 dollari durante il terzo trimestre 2025.
FFW (FFWC) reportó sólidos resultados financieros para el tercer trimestre de 2025, con un ingreso neto que aumentó a 1,4 millones de dólares (1,28 dólares por acción) en comparación con 920.000 dólares (0,82 dólares por acción) en el tercer trimestre de 2024. Para los nueve meses terminados el 31 de marzo de 2025, el ingreso neto alcanzó 4,1 millones de dólares (3,66 dólares por acción) frente a 3,0 millones de dólares (2,64 dólares por acción) en el mismo período del año anterior.
Los principales indicadores financieros mostraron mejoras, con el ingreso neto por intereses aumentando a 4,1 millones de dólares en el tercer trimestre de 2025 desde 3,5 millones en el tercer trimestre de 2024. El retorno sobre activos promedio subió al 1,00% desde 0,66%, mientras que el retorno sobre el patrimonio promedio mejoró al 11,39% desde 7,67%. Los activos totales se situaron en 571,9 millones de dólares al 31 de marzo de 2025.
Sin embargo, los activos no productivos aumentaron significativamente a 8,7 millones de dólares desde 4,0 millones al 30 de junio de 2024. La empresa mantiene un programa activo de recompra de acciones, habiendo recomprado 13.708 acciones a un precio promedio de 39,98 dólares durante el tercer trimestre de 2025.
FFW (FFWC)는 2025년 3분기에 강력한 재무 실적을 보고했으며, 순이익은 2024년 3분기 92만 달러(주당 0.82달러)에서 140만 달러(주당 1.28달러)로 증가했습니다. 2025년 3월 31일로 종료된 9개월 동안 순이익은 지난해 같은 기간 300만 달러(주당 2.64달러)에서 410만 달러(주당 3.66달러)로 상승했습니다.
주요 재무 지표도 개선되어, 순이자 수익은 2024년 3분기 350만 달러에서 2025년 3분기 410만 달러로 증가했습니다. 평균 자산 수익률은 0.66%에서 1.00%로, 평균 자기자본 수익률은 7.67%에서 11.39%로 향상되었습니다. 2025년 3월 31일 기준 총 자산은 5억 7,190만 달러였습니다.
하지만 부실 자산은 2024년 6월 30일 400만 달러에서 크게 증가하여 870만 달러에 달했습니다. 회사는 2025년 3분기 동안 평균 주당 39.98달러에 13,708주를 자사주 매입하는 적극적인 주식 환매 프로그램을 유지하고 있습니다.
FFW (FFWC) a annoncé des résultats financiers solides pour le troisième trimestre 2025, avec un bénéfice net en hausse à 1,4 million de dollars (1,28 dollar par action) contre 920 000 dollars (0,82 dollar par action) au troisième trimestre 2024. Sur les neuf mois clos au 31 mars 2025, le bénéfice net a atteint 4,1 millions de dollars (3,66 dollars par action) contre 3,0 millions de dollars (2,64 dollars par action) sur la même période l’an dernier.
Les principaux indicateurs financiers ont montré une amélioration, avec un produit net d’intérêts passant à 4,1 millions de dollars au troisième trimestre 2025 contre 3,5 millions au troisième trimestre 2024. Le rendement moyen des actifs a augmenté à 1,00 % contre 0,66 %, tandis que le rendement moyen des capitaux propres s’est amélioré à 11,39 % contre 7,67 %. Le total des actifs s’élevait à 571,9 millions de dollars au 31 mars 2025.
Cependant, les actifs non performants ont augmenté de manière significative, passant de 4,0 millions de dollars au 30 juin 2024 à 8,7 millions de dollars. La société maintient un programme actif de rachat d’actions, ayant racheté 13 708 actions à un prix moyen de 39,98 dollars au cours du troisième trimestre 2025.
FFW (FFWC) meldete starke Finanzergebnisse für das dritte Quartal 2025, wobei der Nettogewinn auf 1,4 Millionen US-Dollar (1,28 US-Dollar pro Aktie) im Vergleich zu 920.000 US-Dollar (0,82 US-Dollar pro Aktie) im dritten Quartal 2024 stieg. Für die neun Monate bis zum 31. März 2025 erreichte der Nettogewinn 4,1 Millionen US-Dollar (3,66 US-Dollar pro Aktie) gegenüber 3,0 Millionen US-Dollar (2,64 US-Dollar pro Aktie) im gleichen Zeitraum des Vorjahres.
Wichtige Finanzkennzahlen zeigten Verbesserungen, wobei das Nettozinseinkommen im dritten Quartal 2025 auf 4,1 Millionen US-Dollar gegenüber 3,5 Millionen US-Dollar im dritten Quartal 2024 anstieg. Die Rendite auf das durchschnittliche Vermögen stieg von 0,66 % auf 1,00 %, während die Eigenkapitalrendite von 7,67 % auf 11,39 % verbessert wurde. Die Gesamtvermögenswerte beliefen sich zum 31. März 2025 auf 571,9 Millionen US-Dollar.
Die notleidenden Vermögenswerte stiegen jedoch erheblich von 4,0 Millionen US-Dollar am 30. Juni 2024 auf 8,7 Millionen US-Dollar. Das Unternehmen führt ein aktives Aktienrückkaufprogramm durch und hat im dritten Quartal 2025 13.708 Aktien zu einem durchschnittlichen Preis von 39,98 US-Dollar zurückgekauft.
- Net income increased 52% to $1.4 million in Q3 2025
- Net interest income grew 16.5% to $4.1 million in Q3 2025
- Return on equity improved to 11.39% from 7.67%
- Noninterest income increased 22.5% to $1.3 million
- Nonperforming assets more than doubled to $8.68 million from $4.04 million
- Credit loss provisions increased to $50,000 from $0 in Q3 2024
- Noninterest expenses rose 6% to $3.83 million
WABASH, Ind., April 23, 2025 (GLOBE NEWSWIRE) -- FFW Corporation (the “Corporation”) (OTC PINK: FFWC) (4/22/2025 Close:
For the three months ended March 31, 2025, the Corporation reported net income of
For the nine months ended March 31, 2025, the Corporation reported net income of
The three and nine months ended March 31, 2025 represented a return on average common equity of
The allowance for credit losses as a percentage of gross loans receivable was
As of March 31, 2025, FFWC’s equity-to-assets ratio was
The Corporation has an active share repurchase program. During the quarter ended March 31, 2025, the Corporation repurchased 13,708 shares at an average price of
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include expressions such as “expects,” “intends,” “believes,” and “should,” which are necessarily statements of belief as to the expected outcomes of future events. Actual results could materially differ from those presented. The Corporation's ability to predict future results involves a number of risks and uncertainties. The Corporation undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.
Crossroads Bank is a wholly owned subsidiary of FFW Corporation providing an extensive array of banking services and a wide range of investments and securities products through its main office in Wabash and six Indiana banking centers located in Columbia City, North Manchester, Peru, South Whitley, Syracuse and Warsaw. The Bank also provides leasing services at each of its banking centers. Insurance products are offered through an affiliated company, Insurance 1 Services, Inc. The Corporation’s stock is traded on the OTC Markets under the symbol “FFWC.” Our website address is www.crossroadsbanking.com. Crossroads Bank, Member FDIC.
| FFW Corporation Selected Financial Information | ||||||||
| Consolidated Balance Sheet | ||||||||
| Mach 31 | June 30 | |||||||
| 2025 | 2024 | |||||||
| Unaudited | ||||||||
| Assets | ||||||||
| Cash and due from financial institutions | $ | 6,983,720 | $ | 5,202,224 | ||||
| Interest-bearing deposits in other financial institutions | 3,719,909 | 11,717,782 | ||||||
| Cash and cash equivalents | 10,703,629 | 16,920,006 | ||||||
| Securities available for sale | 107,035,030 | 106,179,450 | ||||||
| Loans held for sale | 1,183,650 | 559,830 | ||||||
| Loans receivable, net of allowance for credit losses of | ||||||||
| at March 31, 2024 and | 421,027,946 | 411,841,368 | ||||||
| Federal Home Loan Bank stock, at cost | 1,289,700 | 1,289,700 | ||||||
| Accrued interest receivable | 2,914,302 | 3,016,660 | ||||||
| Premises and equipment, net | 7,503,967 | 7,614,589 | ||||||
| Mortgage servicing rights | 1,093,572 | 1,086,587 | ||||||
| Cash surrender value of life insurance | 13,054,115 | 12,725,890 | ||||||
| Goodwill | 1,213,898 | 1,213,898 | ||||||
| Repossessed Assets | - | 1,250 | ||||||
| Other assets | 4,904,722 | 4,913,693 | ||||||
| Total assets | $ | 571,924,531 | $ | 567,362,921 | ||||
| Liabilities and shareholders' equity | ||||||||
| Deposits | ||||||||
| Noninterest-bearing | $ | 51,886,534 | $ | 47,530,618 | ||||
| Interest-bearing | 448,895,881 | 466,891,628 | ||||||
| Total deposits | 500,782,415 | 514,422,246 | ||||||
| Borrowings | 17,000,000 | - | ||||||
| Accrued expenses and other liabilities | 4,184,509 | 4,425,736 | ||||||
| Total liabilities | 521,966,924 | 518,847,982 | ||||||
| Shareholders' equity | ||||||||
| Common stock, $.01 par; 2,000,000 shares authorized; | ||||||||
| Issued: 1,836,328; outstanding: 1,086,281 at March 31, 2025 and 1,126,243 at June 30, 2024 | 18,363 | 18,363 | ||||||
| Additional paid-in capital | 10,182,832 | 10,266,257 | ||||||
| Retained earnings | 64,774,708 | 61,694,919 | ||||||
| Accumulated other comprehensive income (loss) | (10,489,806 | ) | (10,795,929 | ) | ||||
| Treasury stock, at cost: 746,9325 at March 31, 2025 and | ||||||||
| 710,085 at June 30, 2024 | (14,528,490 | ) | (12,668,671 | ) | ||||
| Total shareholders' equity | 49,957,607 | 48,514,939 | ||||||
| Total liabilities and shareholders' equity | $ | 571,924,531 | $ | 567,362,921 | ||||
| FFW Corporation Selected Financial Information | |||||||||||||||||
| Consolidated Statement of Income | |||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | ||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||
| Unaudited | Unaudited | Unaudited | Unaudited | ||||||||||||||
| Interest and dividend income: | |||||||||||||||||
| Loans, including fees | $ | 5,707,273 | $ | 5,373,052 | $ | 17,198,053 | $ | 15,688,147 | |||||||||
| Taxable securities | 549,122 | 508,864 | 1,623,785 | 1,493,040 | |||||||||||||
| Tax exempt securities | 405,406 | 407,951 | 1,223,115 | 1,250,686 | |||||||||||||
| Other | 103,991 | 57,617 | 485,623 | 189,900 | |||||||||||||
| Total interest and dividend income | 6,765,792 | 6,347,484 | 20,530,576 | 18,621,773 | |||||||||||||
| Interest expense: | |||||||||||||||||
| Deposits | 2,619,446 | 2,746,943 | 8,608,612 | 7,680,525 | |||||||||||||
| Borrowings | 27,799 | 64,888 | 27,813 | 128,357 | |||||||||||||
| Total interest expense | 2,647,245 | 2,811,831 | 8,636,425 | 7,808,882 | |||||||||||||
| Net interest income | 4,118,547 | 3,535,653 | 11,894,151 | 10,812,891 | |||||||||||||
| Provision for credit losses | 50,000 | - | 125,000 | - | |||||||||||||
| Net interest income after provision for | 4,068,547 | 3,535,653 | 11,769,151 | 10,812,891 | |||||||||||||
| credit losses | |||||||||||||||||
| Noninterest income: | |||||||||||||||||
| Net gains on sales of loans | 59,267 | 28,349 | 298,601 | 71,755 | |||||||||||||
| Net gains (losses) on fixed assets | - | - | 35,238 | - | |||||||||||||
| Net gains (losses) on sales of REO | - | - | (684 | ) | (37,006 | ) | |||||||||||
| Commission income | 593,775 | 364,240 | 1,530,164 | 1,034,231 | |||||||||||||
| Service charges and fees | 245,619 | 276,777 | 711,137 | 779,262 | |||||||||||||
| Earnings on life insurance | 109,953 | 107,851 | 328,225 | 283,332 | |||||||||||||
| Other | 300,569 | 291,081 | 946,043 | 874,959 | |||||||||||||
| Total noninterest income | 1,309,183 | 1,068,298 | 3,848,724 | 3,006,533 | |||||||||||||
| Noninterest expense: | |||||||||||||||||
| Salaries and benefits | 2,017,995 | 1,942,761 | 6,063,655 | 5,726,167 | |||||||||||||
| Occupancy and equipment | 333,088 | 323,582 | 966,545 | 950,172 | |||||||||||||
| Professional | 127,059 | 116,840 | 463,741 | 359,794 | |||||||||||||
| Marketing | 84,205 | 98,890 | 278,408 | 281,794 | |||||||||||||
| Deposit insurance premium | 84,423 | 69,000 | 246,684 | 207,666 | |||||||||||||
| Regulatory assessment | 11,921 | 10,345 | 31,203 | 31,035 | |||||||||||||
| Correspondent bank charges | 34,720 | 25,675 | 81,274 | 69,885 | |||||||||||||
| Data processing | 592,792 | 474,275 | 1,556,269 | 1,384,115 | |||||||||||||
| Printing, postage and supplies | 69,259 | 64,214 | 226,111 | 219,432 | |||||||||||||
| Expense on life insurance | 27,665 | 41,249 | (19,889 | ) | 88,785 | ||||||||||||
| Contribution expense | 18,286 | 20,946 | 37,388 | 40,881 | |||||||||||||
| Expense on REO | - | - | - | 5,822 | |||||||||||||
| Other | 425,132 | 421,267 | 1,168,598 | 1,217,962 | |||||||||||||
| Total noninterest expense | 3,826,545 | 3,609,044 | 11,099,987 | 10,583,510 | |||||||||||||
| Income before income taxes | 1,551,185 | 994,907 | 4,517,888 | 3,235,914 | |||||||||||||
| Income tax expense | 152,317 | 75,100 | 436,810 | 264,001 | |||||||||||||
| Net income | $ | 1,398,868 | $ | 919,807 | $ | 4,081,078 | $ | 2,971,913 | |||||||||
| FFW Corporation Selected Financial Information | ||||||||||||||||
| Key Balances and Ratios | ||||||||||||||||
| Three Months Ended March 31 | Nine Months Ended March 31 | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||
| Per common share data: | ||||||||||||||||
| Earnings | $ | 1.28 | $ | 0.82 | $ | 3.66 | $ | 2.64 | ||||||||
| Diluted earnings | $ | 1.28 | $ | 0.82 | $ | 3.66 | $ | 2.64 | ||||||||
| Dividends paid | $ | 0.30 | $ | 0.29 | $ | 0.90 | $ | 0.87 | ||||||||
| Average shares issued and outstanding | 1,091,358 | 1,128,394 | 1,116,016 | 1,126,998 | ||||||||||||
| Shares outstanding end of period | 1,086,281 | 1,126,843 | 1,086,281 | 1,126,843 | ||||||||||||
| Supplemental data: | ||||||||||||||||
| Net interest margin ** | 3.00 | % | 2.66 | % | 2.84 | % | 2.70 | % | ||||||||
| Return on average assets *** | 1.00 | % | 0.66 | % | 0.95 | % | 0.72 | % | ||||||||
| Return on average common equity *** | 11.39 | % | 7.67 | % | 10.88 | % | 8.56 | % | ||||||||
| March 31 | June 30 | |||||||||||||||
| 2025 | 2024 | |||||||||||||||
| Nonperforming assets * | $ | 8,682,341 | $ | 4,044,082 | ||||||||||||
| Repossessed assets | $ | 0 | $ | 1,250 | ||||||||||||
| * | Includes non-accruing loans, accruing loans delinquent more than 90 days and repossessed assets | |||||||||||||||
| ** | Yields reflected have not been computed on a tax equivalent basis | |||||||||||||||
| *** | Annualized | |||||||||||||||
Contact: Stacy Wiley, Treasurer, at (260) 563-3185
FAQ
What was FFW 's (FFWC) earnings per share for Q3 2025?
How much did FFWC's nonperforming assets increase in March 2025?
What is FFWC's current share repurchase activity?
What was FFW 's return on equity in Q3 2025?
