Date:  July 25, 2025
 

FOR IMMEDIATE RELEASE:

• Net income was $3.4 million, or diluted earnings per share of $1.18 and $12.5 million, or diluted earnings per share of $4.27 for the three- and twelve-months ended June 30, 2025, respectively.
• Return on average assets was 1.63% and 1.51% and return on average equity was 18.91% and 17.70% for three- and twelve-months ended June 30, 2025, respectively.
• Total assets increased 8.1%, net loans increased 10.8%, and total deposits increased 8.0% since last fiscal year end June 30, 2024.
• Current book value is $25.16 per share. Shareholders’ equity increased 8.9% since last fiscal year end June 30, 2024.  The closing share price on June 30, 2025 was $35.00 and represents a Price to Book trading ratio of 1.39. The Price to Earnings multiple is 8.2 based upon the twelve-months earnings ending June 30, 2025.
• The bank continued to experience excellent credit quality as delinquency as a percentage of total loans was 0.07%, non-performing assets as a percentage of total assets was 0.07%, and the bank’s Allowance for Credit Losses to Total Loans ratio was 0.99% for the period ending June 30, 2025.
• First Federal’s capital ratios exceeded regulatory guidelines for a well-capitalized financial institution under the Basel III regulatory requirements.

• Net interest income before provision increased 16.7% and 11.7% from the comparable three- and twelve-month periods ending June 30, 2024, respectively due to asset growth and improved net interest margin.
• Provision for Credit Losses totaled $307,000 and $833,000 for the three- and twelve-month periods ended June 30, 2025, respectively, primarily due to loan growth and a 0.01 increase in ACL due to industry related factors.
• Noninterest income increased by 10.3% and 7.7% compared to the comparable three- and twelve-month period ended June 30, 2024, respectively.  The bank experienced higher fee income principally due to deposit account growth and additional Bank owned life insurance, which was offset by less mortgage banking income as the bank sold less residential loans in favor of keeping more on the balance sheet.
• Noninterest expenses increased 12.3% and 10.8% compared to the comparable three- and twelve-month period ending June 30, 2024, respectively. The bank experienced increased compensation expenses due to wage inflation and increased headcount. Additionally, other non-interest expense items are up due to new account growth.

FFD Financial Corporation

Condensed Consolidated Statements of Financial Condition

FFD Financial Corporation