ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTCID: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and six months ended June 30, 2026.

For the three months ended June 30, 2026, Elmer Bancorp reported net income of $809,000, or $0.70 per average diluted common share, compared to $737,000, or $0.64 per average diluted common share for the three months ended June 30, 2025. For the six months ended June 30, 2026, net income totaled $1.409 million or $1.23 per average diluted common share compared to $1.816 million, or $1.59 per average diluted common share for the six months ended June 30, 2025.

Net interest income for the three months ended June 30, 2026 totaled $4.261 million, an increase of $260,000 from $4.001 million in the second quarter of 2025. For the six months ended June 30, 2026, net interest income totaled $8.285 million compared to $7.782 million for the six-month period of 2025. This increase in net interest income is the result of higher interest and fees on loans and lower interest paid on deposits partially offset by lower income on our overnight investments. The loan loss provision was increased by $50,000 and $90,000 for the three and six months ended June 30, 2026 compared to an increase of $44,000 and $84,000 for the three and six months ended June 30, 2025. This adjustment was the result of the required loan loss calculation under the Current Expected Credit Loss (“CECL”) model.

Non-interest income for the three months ended June 30, 2026 was $22,000 higher than the same three-month period a year ago and $498,000 lower than the six-month period last year. Increases in the cash surrender value of Bank Owned Life Insurance (“BOLI”) and higher service fee income accounted for the increase in the three-month period. The decrease in the six-month period was the result of the one-time “BOLI” payout of $530,000 received in the first quarter of 2025 partially offset by higher service fee income.

Non-interest expenses were higher for the three and six months ended June 30, 2026 versus the prior year periods by $182,000 and $370,000, respectively. Increases in employment costs, occupancy and equipment costs and data processing costs were partially offset by lower professional fees.

Elmer Bancorp’s total assets at June 30, 2026 totaled $407.8 million, an increase of $3.2 million from the June 30, 2025 level of $404.6 million. Loans totaled $335.1 million at June 30, 2026, an increase of $12.8 million from the June 30, 2025 total of $322.3 million. At June 30, 2026, the allowance for loan losses was 1.27% of total loans.

Deposits totaled $365.2 million at June 30, 2026, compared to the June 30, 2025 total of $365.3 million, reflecting a decrease of $7.3 million in interest bearing deposits and an increase of $7.2 million in non-interest bearing deposits. Stockholders’ equity totaled $40.1 million at June 30, 2026. The book value per share at June 30, 2026 was $34.64 compared to $32.44 per share at June 30, 2025. The Bank met all regulatory capital requirements to be classified as a well-capitalized institution as of June 30, 2026.

Brian W. Jones, President and Chief Executive Officer stated, “We are very pleased with our earnings performance for the second quarter mainly driven by our net interest income. Loans have increased $12.8 million year-over-year and our solid deposit base has remained stable. Current economic conditions remain somewhat uncertain with a measurable degree of volatility, but the bank remains strategically placed to manage evolving financial and economic developments. We continue to build shareholder equity while experiencing stable organic growth. We are very appreciative of the support of our loyal customers, shareholders and employees.”

The First National Bank of Elmer, a nationally chartered bank headquartered in Elmer, New Jersey, has a long history of serving the community since its beginnings in 1903. We are a community bank focused on providing deposit and loan products to retail customers and to small and mid-sized businesses from our six full-service branch offices located in Cumberland, Gloucester and Salem Counties, New Jersey, including our main office located at 10 South Main Street in Elmer, New Jersey. In addition to our branch offices, the bank also operates a loan production office (“LPO”) located in Marlton, NJ to service our clients in Burlington County. Deposits at The First National Bank of Elmer are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (“FDIC”).

For more information about Elmer Bank and its products and services, please visit our website at www.ElmerBank.com or call toll free 1-856-358-7000.

Forward-Looking Statements

This press release and other statements made from time to time by the Company’s management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include economic conditions affecting the financial industry: changes in interest rates and shape of the yield curve, credit risk associated with our lending activities, risks relating to our market area, significant real estate collateral and the real estate market, operating, legal and regulatory risk, fiscal and monetary policy, economic, political and competitive forces affecting our business, our ability to identify and address cyber-security risks, and management’s analysis of these risks and factors being incorrect, and/or the strategies developed to address them being unsuccessful. Any statements made that are not historical facts should be considered forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate because of new information of future events, except as may be required by applicable law or regulation.

ELMER BANCORP, INC. AND SUBSIDIARIES
SELECTED FINANCIAL DATA
(unaudited)
 
Six Months Ended Three Months Ended

6/30/2026

 

6/30/2025

 

6/30/2026

 

3/31/2026

 

6/30/2025
Statement of Income Data: (dollars in thousands, except per share data)
 
Interest income

$

10,334

 

$

9,905

 

$

5,283

 

$

5,051

 

$

5,151

 
Interest expense

 

2,049

 

 

2,123

 

 

1,022

 

 

1,027

 

 

1,150

 
Net interest income

 

8,285

 

 

7,782

 

 

4,261

 

 

4,024

 

 

4,001

 
Provision for loan losses

 

90

 

 

84

 

 

50

 

 

40

 

 

44

 
Net interest income after provision for loan losses

 

8,195

 

 

7,698

 

 

4,211

 

 

3,984

 

 

3,957

 
Non-interest income

 

608

 

 

1,106

 

 

309

 

 

298

 

 

287

 
Non-interest expense

 

6,913

 

 

6,543

 

 

3,431

 

 

3,482

 

 

3,249

 
Income before income tax expense

 

1,890

 

 

2,261

 

 

1,089

 

 

800

 

 

995

 
Income tax expense

 

481

 

 

445

 

 

280

 

 

200

 

 

258
Net income

$

1,409

 

$

1,816

 

$

809

 

$

600

 

$

737

 
 
Earnings per share:
Basic

$

1.23

 

$

1.59

 

$

0.70

 

$

0.52

 

$

0.64
Diluted

$

1.23

 

$

1.59

 

$

0.70

 

$

0.52

 

$

0.64

 
Weighted average basic shares outstanding

 

1,147,256

 

 

1,143,048

 

 

1,148,828

 

 

1,147,247

 

 

1,144,142

 
Weighted average diluted shares outstanding

 

1,150,032

 

 

1,143,209

 

 

1,150,545

 

 

1,147,247

 

 

1,144,423

 
Book value per share

$

34.64

 

$

32.44

 

$

34.64

 

$

34.23

 

$

32.44

 
 
Statement of Condition Data (Period End): 6/30/2026 6/30/2025 6/30/2026 3/31/2026 6/30/2025
Cash & due from banks

$

39,325

 

$

47,293

 

$

39,325

 

$

24,941

 

$

47,293

 
Total investments

 

20,853

 

 

23,150

 

 

20,853

 

 

22,965

 

 

23,150

 
Total gross loans

 

335,068

 

 

322,262

 

 

335,068

 

 

339,581

 

 

322,262

 
Allowance for loan losses

 

(4,254

)

 

(4,077

)

 

(4,254

)

 

(4,203

)

 

(4,077

)
Accrued interest receivable

 

1,081

 

 

958

 

 

1,081

 

 

1,053

 

 

958

 
Premises & equipment, net

 

3,701

 

 

3,796

 

 

3,701

 

 

3,748

 

 

3,796

 
Bank owned life insurance

 

8,999

 

 

7,703

 

 

8,999

 

 

8,922

 

 

7,703

 
Other assets

 

3,006

 

 

3,496

 

 

3,006

 

 

3,038

 

 

3,496

 
Total assets

$

407,779

 

$

404,581

 

$

407,779

 

$

400,045

 

$

404,581

 
 
Total deposits

$

365,222

 

$

365,275

 

$

365,222

 

$

358,057

 

$

365,275

 
Accrued interest payable

 

137

 

 

178

 

 

137

 

 

151

 

 

178

 
Other liabilities

 

2,277

 

 

1,756

 

 

2,277

 

 

2,421

 

 

1,756

 
Total liabilities

$

367,636

 

$

367,209

 

$

367,636

 

$

360,629

 

$

367,209

 
Total stockholders’ equity

$

40,143

 

$

37,372

 

$

40,143

 

$

39,416

 

$

37,372

 
Total liabilities & stockholders’ equity

$

407,779

 

$

404,581

 

$

407,779

 

$

400,045

 

$

404,581

 

 

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