CW Bancorp Reports Second Quarter 2025 Financial Results

Core Viewpoint - CW Bancorp reported solid financial results for the second quarter of 2025, with a slight increase in net income and earnings per share compared to the same period in 2024, alongside significant loan and deposit growth despite economic uncertainties [1][4]. Financial Performance - Consolidated net income for Q2 2025 was $3,082,000, or $1.02 per diluted share, compared to $3,084,000, or $1.00 per diluted share in Q2 2024, marking a 2% increase in EPS [1][19]. - For the six months ended June 30, 2025, net income was $6,017,000, or $1.99 per diluted share, compared to $6,077,000, or $1.96 per diluted share for the same period in 2024, also reflecting a 2% increase in EPS [1][19]. Asset and Loan Growth - Total assets increased by $51.2 million, or 5%, to $1,181.7 million as of June 30, 2025, compared to the same period last year [4][5]. - Total loans rose by $94.1 million, or 13%, to $811.1 million as of June 30, 2025, indicating strong loan growth [4][5]. Deposit Growth - Total deposits increased by $42.7 million, or 4%, to $1,029.6 million as of June 30, 2025, compared to the previous year [6][18]. - Non-interest-bearing deposits grew by $19.3 million, or 3%, while interest-bearing deposits increased by $23.3 million, or 6% [6][18]. Interest Income and Expense - Interest income for Q2 2025 was $13,671,000, a 2% increase from $13,344,000 in Q2 2024 [7][19]. - Interest expense for Q2 2025 was $3,589,000, slightly up from $3,573,000 in Q2 2024, reflecting an increase of less than 1% [7][19]. Net Interest Income - Net interest income for Q2 2025 was $10,082,000, a 3% increase from $9,771,000 in Q2 2024 [9][19]. - The net interest margin remained stable at 3.82% for Q2 2025, unchanged from the previous year [9][19]. Non-Interest Income and Expense - Non-interest income for Q2 2025 was $1,335,000, up 10% from $1,219,000 in Q2 2024 [12][19]. - Non-interest expense for Q2 2025 was $6,987,000, an increase of 5% from $6,661,000 in Q2 2024 [13][19]. Efficiency Ratio - The efficiency ratio for Q2 2025 was 61.34%, compared to 60.28% in Q2 2024, indicating a slight increase in costs relative to income [14][19]. Capital Ratios - As of June 30, 2025, the tier 1 leverage ratio was 12.68%, and the total risk-based capital ratio was 18.08%, both above the levels required for a "well capitalized" institution [15][19].