The Victory Bancorp, Inc. 2025 First Quarter Earnings
Victory Bancorp (OTCQX: VTYB) reported strong Q1 2025 financial results, with net income reaching $543 thousand, more than doubling from $230 thousand in Q1 2024. The bank demonstrated robust growth with:
- Total deposits increased to $416.97 million, up from $381.78 million year-over-year
- Book value per share rose to $15.25
- Stockholders' equity improved to $30.15 million
Credit quality metrics showed exceptional performance with nonperforming assets at 0.00% and net charge-offs at 0.01%. The bank maintained a consistent quarterly cash dividend of $0.065 per share. Victory Bank's expansion into Horsham and zero borrowings as of March 2025 reflect its strong financial position and growth strategy. The bank continues to focus on serving small and mid-sized businesses across Montgomery and Berks Counties through its four office locations.
Victory Bancorp (OTCQX: VTYB) ha riportato risultati finanziari solidi nel primo trimestre del 2025, con un utile netto che ha raggiunto 543 mila dollari, più che raddoppiando rispetto ai 230 mila dollari del primo trimestre 2024. La banca ha mostrato una crescita robusta con:
- Depositi totali aumentati a 416,97 milioni di dollari, rispetto ai 381,78 milioni dell'anno precedente
- Valore contabile per azione salito a 15,25 dollari
- Patrimonio netto migliorato a 30,15 milioni di dollari
I parametri di qualità del credito hanno evidenziato prestazioni eccezionali con attività non performanti allo 0,00% e svalutazioni nette allo 0,01%. La banca ha mantenuto un dividendo trimestrale in contanti costante di 0,065 dollari per azione. L'espansione di Victory Bank a Horsham e l'assenza di indebitamenti a marzo 2025 riflettono la sua solida posizione finanziaria e la strategia di crescita. La banca continua a concentrarsi sul servizio alle piccole e medie imprese nelle contee di Montgomery e Berks attraverso le sue quattro sedi.
Victory Bancorp (OTCQX: VTYB) reportó sólidos resultados financieros en el primer trimestre de 2025, con un ingreso neto que alcanzó 543 mil dólares, más del doble que los 230 mil dólares del primer trimestre de 2024. El banco mostró un crecimiento robusto con:
- Depósitos totales aumentaron a 416,97 millones de dólares, frente a 381,78 millones interanuales
- Valor contable por acción incrementó a 15,25 dólares
- El patrimonio de los accionistas mejoró a 30,15 millones de dólares
Los indicadores de calidad crediticia mostraron un desempeño excepcional con activos no productivos en 0.00% y cargos netos en 0.01%. El banco mantuvo un dividendo trimestral en efectivo constante de 0.065 dólares por acción. La expansión de Victory Bank en Horsham y la ausencia de préstamos a marzo de 2025 reflejan su sólida posición financiera y estrategia de crecimiento. El banco continúa enfocándose en servir a pequeñas y medianas empresas en los condados de Montgomery y Berks a través de sus cuatro sucursales.
Victory Bancorp (OTCQX: VTYB)는 2025년 1분기 강력한 재무 실적을 보고했으며, 순이익은 54만 3천 달러로 2024년 1분기의 23만 달러에서 두 배 이상 증가했습니다. 은행은 다음과 같은 견고한 성장을 보였습니다:
- 총 예금이 연간 기준으로 4억 1,697만 달러로 증가, 이전 3억 8,178만 달러에서 상승
- 주당 장부가치는 15.25 달러로 상승
- 주주 지분은 3,015만 달러로 개선
신용 품질 지표는 부실 자산 0.00%, 순 대손상각 0.01%로 뛰어난 성과를 나타냈습니다. 은행은 주당 0.065 달러의 안정적인 분기 현금 배당금을 유지했습니다. Victory Bank의 Horsham 확장과 2025년 3월 현재 무차입 상태는 강력한 재무 상태와 성장 전략을 반영합니다. 은행은 몽고메리 및 버크스 카운티 전역의 중소기업을 네 개 지점에서 계속 지원하는 데 주력하고 있습니다.
Victory Bancorp (OTCQX : VTYB) a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un bénéfice net atteignant 543 000 dollars, soit plus du double des 230 000 dollars du premier trimestre 2024. La banque a démontré une croissance robuste avec :
- Les dépôts totaux ont augmenté pour atteindre 416,97 millions de dollars, contre 381,78 millions d'une année sur l'autre
- La valeur comptable par action est passée à 15,25 dollars
- Les capitaux propres des actionnaires se sont améliorés à 30,15 millions de dollars
Les indicateurs de qualité du crédit ont montré une performance exceptionnelle avec des actifs non performants à 0,00 % et des pertes nettes sur créances à 0,01 %. La banque a maintenu un dividende trimestriel en espèces constant de 0,065 dollar par action. L'expansion de Victory Bank à Horsham et l'absence d'emprunts en mars 2025 reflètent sa solide position financière et sa stratégie de croissance. La banque continue de se concentrer sur le service aux petites et moyennes entreprises des comtés de Montgomery et Berks à travers ses quatre agences.
Victory Bancorp (OTCQX: VTYB) meldete starke Finanzergebnisse für das erste Quartal 2025, mit einem Nettogewinn von 543.000 US-Dollar, was mehr als einer Verdopplung gegenüber 230.000 US-Dollar im ersten Quartal 2024 entspricht. Die Bank zeigte ein robustes Wachstum mit:
- Gesamteinlagen stiegen auf 416,97 Millionen US-Dollar, gegenüber 381,78 Millionen US-Dollar im Vorjahreszeitraum
- Buchwert je Aktie stieg auf 15,25 US-Dollar
- Eigenkapital verbesserte sich auf 30,15 Millionen US-Dollar
Die Kreditqualitätskennzahlen zeigten außergewöhnliche Leistungen mit notleidenden Vermögenswerten bei 0,00 % und Nettoabschreibungen bei 0,01 %. Die Bank hielt eine konstante vierteljährliche Bardividende von 0,065 US-Dollar pro Aktie aufrecht. Die Expansion von Victory Bank nach Horsham und die Schuldenfreiheit im März 2025 spiegeln ihre starke Finanzlage und Wachstumsstrategie wider. Die Bank konzentriert sich weiterhin darauf, kleine und mittelständische Unternehmen in den Bezirken Montgomery und Berks über ihre vier Filialen zu bedienen.
- Net income more than doubled YoY to $543K in Q1 2025 from $230K in Q1 2024
- Total deposits grew to $417M, up $35.2M from Q1 2024
- Eliminated all borrowings (from $25.7M year ago) through deposit growth
- Book value per share increased to $15.25 from $14.84 in Q4 2024
- Nonperforming assets improved to 0.00% from 0.17% year ago
- Net charge-offs improved to 0.01% from 0.03% year ago
- Stockholders' equity increased to $30.15M from $27.94M in Q1 2024
- Return on average equity declined to 7.30% from 7.58% in Q4 2024
- Interest income decreased to $6.93M from $7.28M in Q4 2024
- Net interest income declined to $3.34M from $3.40M in Q4 2024
- Other income dropped to $190K from $299K in Q4 2024
LIMERICK, Pa., April 29, 2025 (GLOBE NEWSWIRE) -- The Victory Bancorp, Inc. (OTCQX: VTYB), the holding company for The Victory Bank, today announced growth and financial highlights for the quarter ended March 31, 2025.
Financial Highlights for First Quarter 2025
- Net Consolidated Earnings:
Net income for the quarter ended March 31, 2025 was$543 thousand , an increase of$313 thousand compared to the same quarter in 2024, at$230 thousand . The return on average equity for Q1 2025 stood at7.30% , compared to7.58% in Q4 2024 and3.29% a year ago. - Deposit Growth:
Total deposits reached$416.97 million as of March 31, 2025, up from$381.78 million at March 31, 2024, and$397.08 million at the end of December 2024. This growth reflects the success of the bank’s relationship-driven service model and has allowed the bank to paydown higher-cost borrowings to zero as of March 31, 2025. - Book Value:
Book value per common share increased to$15.25 as of March 31, 2025, from$14.84 at year end 2024. - Stockholders’ Equity:
Stockholders’ equity rose to$30.15 million at the end of Q1 2025, up from$29.34 million at year-end 2024 and$27.94 million as of March 31, 2024, continuing the trend of strengthening the company's capital position. - Dividends:
A quarterly cash dividend of$0.06 5 per share was paid in Q1 2025, consistent with prior quarters. The total dividend paid for calendar year 2024 was$0.26 per share. - Strong credit quality indicators and Loan Quality Metrics:
Net Charge-Offs to Average Loans was0.01% as of March 31, 2025, consistent with0.00% in the prior quarter and improved from0.03% in the same quarter of 2024. Nonperforming Assets to Total Assets stood at0.00% , marking continued improvement from0.05% at December 31, 2024, and0.17% at March 31, 2024. The Allowance for Credit Losses to Loans remained consistent at0.92% for both March 31, 2025 and December 31, 2024, slightly above the0.91% reported a year earlier.
Bank Leader, Joseph W. Major, stated, “The first quarter of 2025 highlights the strength and resilience of our organization. Despite economic headwinds, our dedicated team delivered strong results, with deposits rising by
“Net income more than doubled year-over-year to
“Credit quality remains exceptional, with nonperforming assets at
“Looking ahead, we’re energized by our recent expansion into Horsham, and remain focused on long-term growth, delivering value to our shareholders, and supporting the communities we serve.”
Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB and is the parent company of The Victory Bank. The Bank, founded in 2008, is a Pennsylvania state-chartered commercial bank headquartered in Limerick Township, Montgomery County. It offers a full range of banking services, including checking and savings accounts, home equity lines of credit, and personal loans. In addition to traditional banking, the Bank specializes in high-quality business lending, serving small and mid-sized businesses and professionals. With four offices across Montgomery and Berks Counties, it is dedicated to meeting the financial needs of the local community. For more information, visit its website at VictoryBank.com. FDIC-Insured.
This presentation may contain forward-looking statements (within the meaning of Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services.
Contact:
Joseph W. Major,
Chairman and Chief Executive Officer
Robert H. Schultz,
Chief Financial Officer, Chief Operating Officer
Owen Magers
Investor Relations
484-791-3435
The Victory Bancorp, Inc.
548 N. Lewis Rd.
Limerick, PA 19468
| CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited) | |||||||||||
| (dollars in thousands, except per share data) | |||||||||||
| Mar 31, | Dec 31, | Mar 31, | |||||||||
| Selected Financial Data | 2025 | 2024 | 2024 | ||||||||
| Investment securities | $ | 44,416 | $ | 44,642 | $ | 47,015 | |||||
| Loans, net of allowance for credit losses | 382,267 | 390,954 | 377,792 | ||||||||
| Total assets | 466,844 | 461,024 | 450,102 | ||||||||
| Deposits | 416,970 | 397,080 | 381,783 | ||||||||
| Borrowings | 0 | 15,440 | 25,725 | ||||||||
| Subordinated debt | 17,325 | 17,309 | 12,836 | ||||||||
| Stockholders' equity | $ | 30,154 | $ | 29,337 | $ | 27,940 | |||||
| Book value per common share | $ | 15.25 | $ | 14.84 | $ | 14.18 | |||||
| Allowance/loans | 0.92 | % | 0.92 | % | 0.91 | % | |||||
| Nonperforming assets/total assets | 0.00 | % | 0.05 | % | 0.17 | % | |||||
| 3 Months Ended | |||||||||||
| Mar 31, | Dec 31, | Mar 31, | |||||||||
| Selected Operations Data | 2025 | 2024 | 2024 | ||||||||
| Interest income | $ | 6,927 | $ | 7,281 | $ | 6,860 | |||||
| Interest expense | 3,585 | 3,886 | 3,759 | ||||||||
| Net interest income | 3,342 | 3,395 | 3,101 | ||||||||
| Provision for loan losses | (55 | ) | (32 | ) | 49 | ||||||
| Other income | 190 | 299 | 199 | ||||||||
| Other expense | 2,895 | 3,000 | 2,957 | ||||||||
| Income before income taxes | 692 | 726 | 294 | ||||||||
| Income taxes | (149 | ) | (168 | ) | (64 | ) | |||||
| Net income | $ | 543 | $ | 558 | $ | 230 | |||||
| Earnings per common share (basic) | $ | 0.27 | $ | 0.28 | $ | 0.12 | |||||
| Earnings per common share (diluted) | $ | 0.27 | $ | 0.28 | $ | 0.11 | |||||
| Return on average assets (annualized) | 0.47 | % | 0.48 | % | 0.20 | % | |||||
| Return on average equity (annualized) | 7.30 | % | 7.58 | % | 3.29 | % | |||||
| Net charge-offs(recoveries)/average loans | (0.01 | )% | 0.00 | % | 0.03 | % | |||||
FAQ
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