Affinity Bancshares, Inc. Announces Third Quarter 2025 Financial Results

Core Viewpoint - Affinity Bancshares, Inc. reported a net income of $2.2 million for Q3 2025, an increase from $1.7 million in Q3 2024, driven by higher net interest income and reduced noninterest expenses [1][6]. Financial Performance - Net income for the three months ended September 30, 2025, was $2,217,000, compared to $1,730,000 for the same period in 2024, reflecting a year-over-year increase of approximately 28% [2][15]. - Diluted earnings per share for Q3 2025 were $0.34, up from $0.26 in Q3 2024 [2][15]. - Operating income for Q3 2025 was $2,389,000, compared to $1,883,000 in Q3 2024 [6][15]. - For the nine months ended September 30, 2025, net income was $6.2 million, up from $4.1 million in the same period of 2024 [6][15]. Income and Expenses - Net interest income for Q3 2025 was $7.8 million, an increase from $7.4 million in Q3 2024 [6][15]. - Noninterest income for Q3 2025 increased to $588,000 from $566,000 in Q3 2024 [6][15]. - Noninterest expenses decreased to $5.4 million in Q3 2025 from $5.7 million in Q3 2024, primarily due to lower other expenses [6][15]. Asset Quality and Financial Condition - Total assets increased to $925.2 million as of September 30, 2025, from $866.8 million at December 31, 2024, driven by loan growth and increased interest-earning deposits [6][11]. - Total gross loans rose to $729.5 million at September 30, 2025, up from $714.1 million at December 31, 2024 [6][11]. - Non-performing loans increased to $5.1 million at September 30, 2025, from $4.8 million at December 31, 2024 [11][12]. Capital and Equity - Total stockholders' equity decreased to $125.4 million at September 30, 2025, from $129.1 million at December 31, 2024, due to dividend payments and stock repurchases [11][14]. - The allowance for credit losses as a percentage of non-performing loans was 168.4% at September 30, 2025, down from 177.9% at December 31, 2024 [11][12]. Key Ratios - Return on average assets for Q3 2025 was 0.94%, consistent with Q2 2025 [2][6]. - Return on average equity for Q3 2025 was 7.03%, slightly up from 5.68% in Q3 2024 [2][6]. - The efficiency ratio improved to 64.96% in Q3 2025 from 68.55% in Q3 2024, indicating better cost management [2][6].