Globenewswire·2026-01-28 21:00Financial Performance - The company reported a net income of $10.8 million for Q4 2025, an increase from $10.2 million in Q4 2024, translating to $0.81 per basic share compared to $0.78 per basic share in the previous year [1] - For the year ended December 31, 2025, net income was $44.4 million, down from $47.1 million in 2024, with earnings per share of $3.35 compared to $3.58 [1] Loan Portfolio and Demand - The company experienced strong performance in its loan portfolio, with outstanding unfunded commitments exceeding $680 million as of December 31, 2025 [2] - Loans, net of the allowance for credit losses, increased by $47.8 million, or 2.6%, to $1.9 billion, driven by a $99.9 million increase in multi-family loans [8] - The company originated loans totaling $860.7 million in 2025, primarily in construction and multi-family loans [9] Balance Sheet Highlights - Total assets increased by $53.9 million, or 2.7%, to $2.1 billion as of December 31, 2025, primarily due to increases in net loans and equity securities [3] - Total stockholders' equity rose by $33.4 million, or 10.5%, to $351.7 million, representing 17.04% of total assets [6][23] Interest Income and Expense - Net interest income for Q4 2025 was $25.5 million, a slight increase from $25.3 million in Q4 2024, attributed to a decrease in interest expense [24] - Total interest and dividend income decreased by $1.9 million, or 4.6%, to $38.6 million for Q4 2025, primarily due to a decrease in yield on interest-earning assets [25] Asset Quality - The company maintained strong asset quality with no non-performing loans as of December 31, 2025, compared to $5.1 million in non-performing assets in 2024 [6][53] - The allowance for credit losses related to loans decreased to $4.7 million, or 0.25% of total loans, from $4.8 million, or 0.27% of total loans, in the previous year [10][55] Non-Interest Income and Expenses - Non-interest income for Q4 2025 was $987,000, a significant increase from $149,000 in Q4 2024, driven by unrealized gains on equity securities [33] - Non-interest expenses increased by $1.3 million, or 12.8%, to $11.2 million for Q4 2025, primarily due to higher salaries and employee benefits [36] Capital and Regulatory Compliance - The company's capital position remains strong, with a tier 1 leverage capital ratio of 16.39% and a total risk-based capital ratio of 15.62% as of December 31, 2025 [58] - The company has the ability to borrow $768.8 million from the Federal Reserve Bank of New York, indicating a robust liquidity position [57]