Financial Performance - Consolidated net income for Q3 2025 was $5.6 million, a 6.0% increase from Q2 2025 and a 63.1% increase from Q3 2024[4] - Net interest income rose by $1.5 million or 9.6% to $17.2 million compared to Q2 2025, and increased by 30.7% from Q3 2024[8] - The net interest margin improved to 3.58% in Q3 2025, up from 3.42% in Q2 2025 and 3.03% in Q3 2024[9] - Total noninterest income was $5.2 million in Q3 2025, an increase of 6.1% from Q2 2025, driven by a 10.7% rise in wealth management fee income[10] - The efficiency ratio improved to 64.06% in Q3 2025 from 64.91% in Q2 2025[2] - The return on average total assets for Q3 2025 was 1.10%, compared to 1.09% in Q2 2025[33] - Earnings per share (diluted) for the quarter ended September 30, 2025, was $1.04, consistent with the previous quarter's $0.98[41] Asset and Loan Management - Total consolidated assets decreased by $102.6 million or 5.04% from $2.04 billion at June 30, 2025 to $1.93 billion at September 30, 2025[18] - Total net loans increased by $22.5 million from $1.42 billion at June 30, 2025 to $1.45 billion at September 30, 2025, driven by a $27.4 million growth in commercial real estate loans[19] - Total loans as of September 30, 2025, amounted to $1,454,163 thousand, an increase from $1,432,404 thousand as of June 30, 2025, representing a growth of 1.5%[40] - The commercial loans for owner-occupied properties increased to $290,931 thousand as of September 30, 2025, from $288,821 thousand as of June 30, 2025, a growth of 0.7%[40] Credit Quality - Nonperforming assets decreased to $14.3 million or 0.74% of total assets in Q3 2025, down from $17.5 million or 0.86% in Q2 2025[12] - The company reported $2.3 million in net charge-offs for Q3 2025, significantly higher than $159 thousand in Q2 2025[16] - The allowance for credit losses to total loans ratio decreased from 1.11% at June 30, 2025 to 1.01% at September 30, 2025, primarily due to a $1.1 million charge-off[17] - The allowance for credit losses on loans decreased to $(14,810) thousand as of September 30, 2025, from $(15,979) thousand as of June 30, 2025, showing an improvement in credit quality[40] - The provision for credit losses was $1,112 thousand for the quarter ended September 30, 2025, compared to $668 thousand for the quarter ended June 30, 2025, indicating a rise of 66.4%[41] - Non-performing loans to total loans ratio improved to 0.91% in Q3 2025 from 1.20% in Q2 2025[37] Dividend and Equity - The company declared a quarterly cash dividend of $0.31 per common share, payable on November 14, 2025[2] - Total consolidated equity increased by $67.7 million to $185.6 million at September 30, 2025 compared to September 30, 2024[25] - The Company announced a quarterly common stock cash dividend of $0.31 per share, payable on November 14, 2025[24] - Total shareholders' equity increased to $185,581 thousand in Q3 2025 from $179,648 thousand in Q2 2025[39] Deposits and Funding - Total deposits decreased to $1.66 billion as of September 30, 2025, down from $1.77 billion at June 30, 2025, with a year-over-year increase of $109.1 million[20] - Loans to deposits ratio increased to 88.21% in Q3 2025 from 81.44% in Q2 2025[37] - The Company's liquid assets were $467.7 million as of September 30, 2025, with borrowing availability of $530.9 million, exceeding uninsured deposits by $795.8 million[22] Interest and Expense Management - Noninterest expense increased by $945 thousand or 7.1% to $14.3 million in Q3 2025 compared to Q2 2025[11] - Total noninterest expenses increased to $14,344 thousand for the quarter ended September 30, 2025, from $13,399 thousand in the previous quarter, reflecting a rise of 7.0%[41] - Total interest and dividend income for the quarter ended September 30, 2025, was $25,933 thousand, up from $24,815 thousand in the previous quarter, indicating an increase of 4.5%[41] - Total interest-bearing deposits were $1,159.7 million, with an interest expense of $7,886 million, yielding an average rate of 2.70%[42]
Eagle Financial Services Inc(EFSI) - 2025 Q3 - Quarterly Results