Welcome to our dedicated page for William Penn Bancorporation news (Ticker: WMPN), a resource for investors and traders seeking the latest updates and insights on William Penn Bancorporation stock.
William Penn Bancorporation operates as an independent community financial services provider, offering traditional banking services to individual, business, and government customers through its branch network. The bank provides a range of financial services, including deposits, loans, and other financial products.
Headquartered in Bristol, Pennsylvania, William Penn Bank serves the Delaware Valley with twelve full-service branch offices. The bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC), and its primary federal regulator is the FDIC.
The Company recently authorized a new stock repurchase program to acquire up to 1,046,610 shares of its common stock. This initiative follows the completion of previous stock repurchase programs and underscores the Company's commitment to enhancing shareholder value.
Mid Penn Bancorp (NASDAQ: MPB) and William Penn Bancorporation (NASDAQ: WMPN) have announced a definitive merger agreement valued at approximately $127 million in an all-stock transaction. William Penn shareholders will receive 0.4260 shares of Mid Penn common stock for each William Penn share. The merger will create a combined entity with $6.3 billion in total assets, $4.9 billion in total loans, and $5.3 billion in total deposits. William Penn currently operates 12 branches across Pennsylvania and New Jersey, with $812 million in total assets. The transaction is expected to close in the first half of 2025, subject to regulatory and shareholder approvals.
William Penn Bancorporation (NASDAQ CM:WMPN) reported financial results for the quarter ended September 30, 2024. The company recorded a $21 thousand net loss, or $(0.00) per share, compared to net income of $179 thousand, or $0.02 per share, for the same quarter in 2023. The Board of Directors declared a cash dividend of $0.03 per share, payable on November 7, 2024.
Key highlights include:
- Repurchase of 125,441 shares at a total cost of $1.5 million
- Decrease in non-performing assets to total assets ratio to 0.38%
- $395 thousand recovery for credit losses
- Book value per share increased to $13.91
- Total assets decreased by 0.8% to $812.2 million
- Net interest income decreased by 12.7% to $4.1 million
The company remains focused on maintaining strong credit quality and capital management while navigating the current interest rate environment.
William Penn Bancorporation (NASDAQ CM:WMPN) announced its financial results for Q4 and FY 2024. The company reported a net loss of $158,000 for Q4 and net income of $168,000 for FY 2024. The Board declared a cash dividend of $0.03 per share, payable on August 8, 2024. Despite challenging market conditions, the company's net interest margin expanded by 10 basis points to 2.25% on a linked-quarter basis. William Penn continued its share repurchase program, buying back 96,117 shares at an average cost of $12.06 during Q4. The company maintained strong asset quality with a non-performing assets to total assets ratio of 0.40% as of June 30, 2024.
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