Community Heritage Financial, Inc. (the “Company” or “CHF”) (OTC PK: CMHF), the parent company of Middletown Valley Bank (“MVB” or the “Bank”), reported net income of $1.9 million, or $0.66 per diluted share, for the third quarter ended September 30, 2025, a decline of $533 thousand, or 21.6%, in comparison to the second quarter of 2025. Compared to the third quarter of 2024, net income decreased $113 thousand, or 5.5%. Net income for the nine months ended September 30, 2025 totaled $6.3 million, or $2.13 per diluted common share, representing an increase of $1.4 million, or 28.4%, compared to net income of $4.9 million, or $1.68 per diluted common share, for the nine months ended September 30, 2024.
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During the third quarter 2025, the Bank established a specific reserve of $750 thousand, representing 100% of the outstanding loan balance related to a single commercial line of credit to a customer that uncovered an internal theft by one of its owners. As a result, the provision for credit losses increased to $961 thousand during the third quarter of 2025, compared to $148 thousand during the second quarter of 2025 and a $7 thousand recapture during the third quarter of 2024. Year-to-date through September 30, 2025, the provision for credit losses totaled $1.4 million, compared to $428 thousand during the same period in 2024. As of September 30, 2025, the allowance for credit losses – loans1 was 1.07% of total loans compared to 0.99% and 0.96% as of June 30, 2025 and September 30, 2024, respectively. The ratio of non-performing assets to total assets was 0.19% as of September 30, 2025, compared to 0.13% as of June 30, 2025 and 0.14% as of September 30, 2024. The ratio of net charge-offs to average total loans was zero percent for the quarters ended September 30, 2025, June 30, 2025 and September 30, 2024.
1 The “allowance for credit losses – loans” relates to the allowance for credit losses specific to loans outstanding and does not include the allowance for credit losses related to off-balance sheet credit exposure.
Balance Sheet
Assets totaled $1.1 billion as of September 30, 2025, representing a decrease of $5.9 million since September 30, 2024, and an increase of $72.2 million since December 31, 2024. The decline in the balance sheet since September 30, 2024 was driven by a decline in borrowings and subordinated debt of $63.0 million, offset by growth in deposits of $49.5 million, or 5.3%, and growth in shareholders' equity of $9.0 million, or 11.6%. The reduction in borrowings included repayment of advances drawn under the Bank Term Funding Program (“BTFP”) available through the Federal Reserve Bank (“FRB”) totaling $50.0 million. The advances offered the opportunity of a positive arbitrage between the weighted average advance rate and the earnings rate offered by the FRB. The Bank repaid the advances immediately prior to the November 2024 meeting of the FRB, at which the FRB reduced short-term interest rates, eliminating the arbitrage opportunity. Balance sheet growth since December 31, 2024 of $72.2 million was driven primarily by deposit growth of $74.3 million, or 10.9% annualized, which included growth in time deposit, money market, NOW and noninterest-bearing demand account balances of $34.8 million, $18.9 million, $15.6 million and $3.6 million, respectively.
Loan balances outstanding grew to $896.2 million as of September 30, 2025, representing an increase of $52.1 million, or 6.2% from September 30, 2024, and $52.1 million, or 8.2% annualized from December 31, 2024. Growth in residential loans, which includes home equity loans, non-owner occupied commercial real estate loans, construction and land development loans, and owner occupied commercial real estate loans of $16.7 million, $16.4 million, $16.0 million and $5.7 million, respectively, contributed to the loan growth of $52.1 million since September 30, 2024. Since December 31, 2024, construction and land development loans, residential loans, non-owner occupied commercial real estate loans, and owner occupied commercial real estate loans grew $20.9 million, $17.9 million $11.3 million and $6.8 million, respectively. Declines in farmland and multifamily loan balances of $3.3 million and $2.4 million, respectively, offset the growth in other portfolios. While growth in commercial real estate loans has been strong during the past twelve months, the Bank's commercial real estate concentration level is modest at 243% of tier 1 capital plus the allowance for credit losses as of September 30, 2025.
Net Interest Income
Net interest income totaled $9.2 million for the three months ended September 30, 2025, compared to $7.8 million during the same period in 2024, and $8.1 million during the three months ended December 31, 2024. The net interest margin (“NIM”) increased from 2.90% during the third quarter of 2024 to 3.13% during the fourth quarter of 2024 and 3.40% during the third quarter of 2025. The FRB's decision to increase short-term rates to combat inflation in March 2022 pressured the Company's NIM during 2022 and 2023 as deposit rates increased rapidly. The NIM reached a low point of 2.61% in the third quarter of 2023 and has since steadily improved as interest rates on interest-bearing deposits stabilized and maturing loans repriced at higher interest rates. Interest rate cuts initiated by the FRB beginning in September 2024 also contributed to the improvement in the NIM during the fourth quarter of 2024 and the nine months to-date of 2025. The latest short-term rate cut by the FRB of 0.25% occurred mid-month September 2025 with little impact to third quarter performance.
Noninterest Income
Linked quarter2025 – Noninterest income decreased $39 thousand during the third quarter of 2025 compared to the second quarter of 2025. Mortgage banking revenue decreased $58 thousand as mortgage interest rate levels and affordability concerns continued to challenge origination and sale activity. Earnings on bank-owned life insurance decreased $41 thousand, reflecting equity market performance in the third quarter relative to the second quarter. Modest increases in revenue associated with card and merchant services of $23 thousand and service charges on deposits of $23 thousand partially offset the earnings pressure from mortgage banking activities and bank-owned life insurance performance.
Third Quarter 2025 vs. Third Quarter 2024 – Noninterest income decreased $92 thousand. Mortgage banking revenue decreased $160 thousand reflecting market challenges mentioned previously. Card and merchant services fee income increased $39 thousand with increased activity and other noninterest income increased $35 thousand driven by fees associated with interest rate swap transactions with customers totaling $33 thousand.
Nine Months September 30, 2025 vs. Nine Months September 30, 2024 – Noninterest income decreased $25 thousand. Mortgage banking revenue and earnings on bank-owned life insurance decreased $115 thousand and $107 thousand, respectively. The decline in earnings on bank-owned life insurance reflected the receipt during the first quarter 2024 of insurance proceeds totaling $138 thousand. Offsetting the noted decreases in revenue was an increase in other noninterest income of $114 thousand and an increase in card and merchant services fees of $88 thousand. The increase in other noninterest income included broker fees for referrals of Small Business Administration (“SBA”) qualified loans totaling $72 thousand and fees associated with interest rate swap transactions with customers totaling $51 thousand. The increase in card and merchant services fees reflected increased transaction activity.
Noninterest Expense
Linked quarter2025 – Noninterest expense increased $275 thousand on a linked quarter basis. The increase was primarily driven by increases in salaries and benefits and occupancy and equipment expense of $202 thousand and $64 thousand, respectively. Salaries and benefits increased due to increased health insurance costs of $154 thousand associated with claims activity. Occupancy and equipment expense increased due to increases in software costs of $40 thousand and building maintenance and utilities costs of $11 thousand.
Third Quarter 2025 vs. Third Quarter 2024 – Noninterest expense increased $503 thousand quarter over quarter. The increase was driven primarily by increases in data and item processing of $177 thousand, salaries and benefits of $166 thousand, other noninterest expense of $105 thousand and legal and professional fees of $90 thousand. The recovery of prior period fraud losses during the third quarter of 2024 totaling $116,000 contributed to the increase in the comparable period in 2025 on a comparative basis. The increase in salaries and benefits reflected merit increases, increased incentive compensation accruals and increased health insurance costs. Included in the increase in other noninterest expense was increases in donations and sponsorships expense of $41 thousand, ATM and card expense of $37 thousand, and training and development expense of $29 thousand. The increase in legal and professional fees reflected additional costs incurred to meet FDICIA requirements.
Nine Months September 30, 2025 vs. Nine Months September 30, 2024 – Noninterest expense increased $1.0 million in 2025 compared to 2024. The increase was largely attributable to an increase in salaries and benefits of $740 thousand, an increase in other noninterest expense of $213 thousand, and an increase in legal and professional fees of $92 thousand. The increase in salaries and benefits reflected merit increases, increased incentive compensation accruals and increased health insurance costs. Included in the increase in other noninterest expense was increases in ATM and card expense of $102 thousand, training and development expense of $63 thousand, donations and sponsorships expense of $24 thousand and travel and entertainment expense of $20 thousand. The increase in legal and professional fees reflected additional costs incurred to meet FDICIA requirements.
Dividend
A dividend of $0.08 per common share was declared by the Board of Directors on October 17, 2025, for shareholders of record as of October 31, 2025, and payable on November 7, 2025.
Forward-Looking Statements
This press release may contain forward-looking statements with respect to the Company's financial condition, results of operations and business. Forward-looking statements can be identified by words such as “expects”, “anticipates”, “believes”, “estimates”, “projects”, “continue”, “plans”, “intends”, the negative of these words and other comparable terminology. These forward-looking statements may be included in comments regarding future financial performance, expected levels of future revenue and expenses such as credit losses, growth strategies, new business initiatives and anticipated trends impacting performance. Forward-looking statements are not historical facts nor an assurance of future performance. While we believe the expectations of forward-looking statements to be reasonable, actual results may differ materially as forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and often outside of the control of the Company. Therefore, users should not rely on forward-looking statements.
Non-GAAP Financial Measures
The Company may include certain non-GAAP financial measures in this press release. The Company believes these financial measures provide information useful to investors in understanding the Company's performance and performance trends to facilitate comparisons with the performance of others in the industry. These non-GAAP financial measures should not be considered an alternative to GAAP and users should recognize the non-GAAP financial measures presented by the Company might not be comparable to measures of other companies with similar titles.
Community Heritage Financial, Inc. Robert E. (BJ) Goetz, Jr. President & Chief Executive Officer 301-371-3055
John A. Scaldara, Jr. Executive Vice President and Chief Financial Officer 301-371-3070
Community Heritage Financial, Inc. and SubsidiariesBalance Sheets (unaudited) As of Period End 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024ASSETS Cash and due from banks $ 28,508,739 $ 67,210,170 $ 41,754,293 $ 16,510,418 $ 90,485,075 Securities available-for-sale, at fair value 54,390,834 46,712,422 42,514,398 40,481,911 43,803,206 Securities held-to-maturity 87,642,810 88,807,858 90,382,973 91,374,820 92,558,298 Less allowance for credit losses 73,338 92,176 93,416 102,896 110,386 Total securities held-to-maturity 87,569,472 88,715,682 90,289,557 91,271,924 92,447,912 Total securities 141,960,306 135,428,104 132,803,955 131,753,835 136,251,118 Equity securities, at cost 951,700 1,426,700 1,901,700 1,404,700 1,404,600 Loans 899,798,030 872,116,129 863,383,714 847,593,970 847,539,088 Less allowance for credit losses – loans 1 9,648,797 8,675,088 8,525,628 8,279,404 8,167,602 Loans, net 890,149,233 863,441,041 854,858,086 839,314,566 839,371,486 Loans held for sale 3,782,055 1,445,377 564,685 5,106,956 4,591,950 Premises and equipment 6,354,368 6,196,774 5,628,103 5,688,187 5,805,983 Right of use asset 1,691,267 1,816,066 1,939,827 1,911,836 2,031,653 Accrued interest receivable 3,433,569 3,422,469 3,342,795 3,152,505 3,124,150 Deferred tax assets 4,501,612 4,356,321 4,431,764 4,558,255 4,568,943 Bank owned life insurance 7,656,529 7,570,668 7,443,531 7,411,319 7,379,630 Goodwill 1,656,507 1,656,507 1,656,507 1,656,507 1,656,507 Other assets 1,817,743 1,638,591 1,741,146 1,771,483 1,660,574 Total Assets $ 1,092,463,628 $ 1,095,608,788 $ 1,058,066,392 $ 1,020,240,567 $ 1,098,331,669LIABILITIES and SHAREHOLDERS' EQUITY Liabilities Deposits: Noninterest-bearing demand $ 255,052,436 $ 256,355,584 $ 247,511,094 $ 251,431,084 $ 246,907,558 Interest-bearing 727,289,753 721,494,804 685,201,331 656,575,635 685,892,223 Total deposits 982,342,189 977,850,388 932,712,425 908,006,719 932,799,781 FHLB advances and other borrowings 5,000,000 15,000,000 25,000,000 15,000,000 65,000,000 Subordinated debt, net 12,049,882 12,046,819 12,043,757 12,040,695 15,000,000 Lease liabilities 1,760,706 1,886,828 2,011,829 1,984,920 2,105,649 Accrued interest payable 709,739 567,996 730,113 485,160 2,468,369 Other liabilities 4,306,714 4,321,095 4,380,812 3,694,164 3,662,903 Total Liabilities 1,006,169,230 1,011,673,126 976,878,936 941,211,658 1,021,036,702 Shareholders' Equity Common stock 29,291 29,289 29,289 29,198 29,159 Additional paid-in-capital 41,588,025 41,469,625 41,351,223 41,331,966 41,284,421 Retained earnings 50,180,223 48,480,152 46,246,459 44,597,524 43,039,340 Accumulated other comprehensive loss (5,503,141) (6,043,404) (6,439,515) (6,929,779) (7,057,953) Total Shareholders' Equity 86,294,398 83,935,662 81,187,456 79,028,909 77,294,967 Total Liabilities and Shareholders' Equity $ 1,092,463,628 $ 1,095,608,788 $ 1,058,066,392 $ 1,020,240,567 $ 1,098,331,669 1 “Allowance for credit losses – loans” (“ACL-loans”) relates to the ACL specific to loans outstanding and does not include the ACL related to off-balance sheet credit exposure.
Community Heritage Financial, Inc. and SubsidiariesStatements of Income (unaudited) Three Months Ended Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024Interest Income Loans, including fees $ 13,086,145 $ 12,597,796 $ 12,228,538 $ 12,057,265 $ 12,066,857 $ 37,912,479 $ 34,719,540 Securities 946,231 888,721 858,632 809,512 773,571 2,693,584 2,319,892 Fed funds sold and other bank deposits 511,786 467,029 119,202 548,309 1,101,997 1,098,017 3,258,429 Total interest income 14,544,162 13,953,546 13,206,372 13,415,086 13,942,425 41,704,080 40,297,861Interest Expense Deposits 5,031,782 4,758,194 4,405,731 4,686,005 5,146,858 14,195,707 14,856,456 Borrowed funds 137,305 149,325 189,055 380,370 756,653 475,685 2,177,618 Subordinated debt 207,249 207,250 207,250 209,934 238,049 621,749 714,148 Total interest expense 5,376,336 5,114,769 4,802,036 5,276,309 6,141,560 15,293,141 17,748,222Net interest income 9,167,826 8,838,777 8,404,336 8,138,777 7,800,865 26,410,939 22,549,639Provision for credit losses 960,847 148,330 248,558 178,624 (7,396) 1,357,735 428,094Net interest income after provision for credit losses 8,206,979 8,690,447 8,155,778 7,960,153 7,808,261 25,053,204 22,121,545Noninterest income Mortgage banking revenue 348,561 406,440 164,015 470,783 508,209 919,016 1,034,375 Card and merchant services 333,325 310,082 281,415 314,785 294,243 924,822 837,179 Service charges on deposits 254,754 231,856 235,097 262,583 252,406 721,707 726,783 Earnings on bank-owned life insurance 77,570 118,847 23,920 23,398 86,958 220,337 327,354 Loss on sale of investment securities – – – (442,493) – – – Other 40,436 25,959 77,870 5,427 5,022 144,265 29,893 Total noninterest income 1,054,646 1,093,184 782,317 634,483 1,146,838 2,930,147 2,955,584Noninterest expense Salaries and employee benefits 3,861,631 3,660,059 3,847,202 3,565,344 3,696,105 11,368,892 10,628,758 Occupancy and equipment 913,042 848,881 925,091 906,738 901,283 2,687,014 2,634,801 Data and item processing 668,922 686,375 590,840 624,021 492,294 1,946,137 1,940,667 Legal and professional fees 332,527 366,768 277,977 291,944 242,411 977,272 884,848 FDIC insurance 166,176 170,937 142,866 206,376 210,789 479,979 601,066 Advertising 91,883 79,253 107,375 78,362 93,129 278,511 227,832 Other 658,319 604,861 587,891 616,615 553,021 1,851,071 1,638,076 Total noninterest expense 6,692,500 6,417,134 6,479,242 6,289,400 6,189,032 19,588,876 18,556,048Income before income taxes 2,569,125 3,366,497 2,458,853 2,305,236 2,766,067 8,394,475 6,521,081Income tax expense 634,729 898,493 576,217 571,853 718,989 2,109,439 1,626,652Net income $ 1,934,396 $ 2,468,004 $ 1,882,636 $ 1,733,383 $ 2,047,078 $ 6,285,036 $ 4,894,429Community Heritage Financial, Inc. and SubsidiariesPer Share Data (unaudited) Three Months Ended Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024Earnings per common share Basic $ 0.66 $ 0.84 $ 0.64 $ 0.59 $ 0.70 $ 2.15 $ 1.68 Diluted $ 0.66 $ 0.84 $ 0.64 $ 0.59 $ 0.70 $ 2.13 $ 1.68Common shares outstanding at period end 2,929,053 2,928,888 2,928,888 2,919,797 2,915,933 2,929,053 2,915,933Average common shares outstanding Basic 2,929,012 2,928,888 2,922,624 2,919,677 2,915,933 2,926,865 2,914,975 Diluted 2,952,922 2,944,207 2,937,508 2,934,754 2,927,377 2,946,201 2,920,191Cash dividends paid per common share $ 0.08 $ 0.08 $ 0.08 $ 0.06 $ 0.06 $ 0.24 $ 0.18
Community Heritage Financial, Inc. and SubsidiariesSelected Financial Data (unaudited) As of and for the Three Months Ended As of and for the Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024Per Share Data Common shares outstanding 2,929,053 2,928,888 2,928,888 2,919,797 2,915,933 2,929,053 2,915,933 Book value per share $ 29.46 $ 28.66 $ 27.72 $ 27.07 $ 26.51 $ 29.46 $ 26.51 Tangible book value per share $ 28.90 $ 28.09 $ 27.15 $ 26.50 $ 25.94 $ 28.90 $ 25.94Capital (bank consolidated unless noted otherwise) Common equity tier 1 (CET1) capital 12.15% 12.28% 12.11% 12.12% 12.27% 12.15% 12.27% Tier 1 capital 12.15% 12.28% 12.11% 12.12% 12.27% 12.15% 12.27% Total risk based capital 13.37% 13.41% 13.23% 13.24% 13.36% 13.37% 13.36% Tier 1 leverage ratio 9.32% 9.29% 9.47% 9.06% 8.90% 9.32% 8.90% Tangible common equity to tangible assets (CHF) 7.76% 7.52% 7.53% 7.60% 6.90% 7.76% 6.90%Asset Quality Data Non-accrual loans $ 2,044,469 $ 1,442,329 $ 1,488,718 $ 1,525,759 $ 1,566,138 $ 2,044,469 $ 1,566,138 Non-performing assets $ 2,044,469 $ 1,442,329 $ 1,488,718 $ 1,525,759 $ 1,566,138 $ 2,044,469 $ 1,566,138 Non-performing loans to loans 0.23% 0.17% 0.17% 0.18% 0.18% 0.23% 0.18% Non-performing assets to total assets 0.19% 0.13% 0.14% 0.15% 0.14% 0.19% 0.14% Net loan charge-offs to average loans 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% ACL – loans1 to total loans 1.07% 0.99% 0.99% 0.98% 0.96% 1.07% 0.96%Other Data Return on average assets 0.70% 0.92% 0.74% 0.65% 0.74% 0.79% 0.60% Return on average equity 8.96% 11.93% 9.47% 8.77% 10.66% 10.12% 8.82% Net interest margin 3.40% 3.37% 3.36% 3.13% 2.90% 3.37% 2.84% Yield on interest-earning assets 5.38% 5.32% 5.29% 5.16% 5.18% 5.33% 5.08% Cost of interest-bearing liabilities 2.85% 2.80% 2.78% 2.93% 3.19% 2.81% 3.16% Loans to deposits ratio 91.60% 89.19% 92.57% 93.35% 90.86% 91.60% 90.86% 1 “Allowance for credit losses – loans” (“ACL-loans”) relates to the ACL specific to loans outstanding and does not include the ACL related to off-balance sheet credit exposure.
Community Heritage Financial, Inc. and SubsidiariesCondensed Average Balance Sheet Analysis (unaudited) Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Average Balance Interest Yield / Rate Average Balance Interest Yield / Rate Average Balance Interest Yield / RateASSETS Interest-earning assets: Loans, including LHFS $ 883,763,296 $ 13,086,145 5.89% $ 868,901,865 $ 12,597,796 5.81% $ 847,572,666 $ 12,066,857 5.66% Securities 139,178,904 946,231 2.72% 135,415,559 888,721 2.63% 135,995,176 773,571 2.28% Fed funds sold and other bank deposits 51,010,040 511,786 3.98% 47,920,689 467,029 3.91% 86,892,250 1,101,997 5.05% 1,073,952,240 14,544,162 5.38% 1,052,238,113 13,953,546 5.32% 1,070,460,092 13,942,425 5.18% Noninterest-earning assets 22,561,809 23,523,401 23,724,580 Total Assets $ 1,096,514,049 $ 1,075,761,514 $ 1,094,184,672LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing liabilities: Demand deposits $ 541,428,761 $ 3,332,702 2.44% $ 527,492,595 $ 3,146,490 2.39% $ 534,980,893 $ 3,732,942 2.78% Time deposits 184,562,867 1,699,080 3.65% 176,936,573 1,611,704 3.65% 150,646,399 1,413,916 3.73% Interest-bearing deposits 725,991,628 5,031,782 2.75% 704,429,168 4,758,194 2.71% 685,627,293 5,146,858 2.99% Borrowings 23,176,928 344,554 5.93% 27,044,756 356,575 5.28% 79,985,590 994,702 4.95% Interest-bearing liabilities 749,168,556 5,376,336 2.85% 731,473,924 5,114,769 2.80% 765,612,882 6,141,560 3.19% Noninterest-bearing liabilities: Demand deposits 255,304,997 254,468,601 244,538,112 Other 6,424,548 6,873,331 7,865,969 Total Liabilities 1,010,898,101 992,815,856 1,018,016,964 Cost of Total Deposits 2.03% 1.99% 2.20% Cost of Total Funds (interest- bearing liabilities plus non- interest-bearing deposits) 2.09% 2.05% 2.42% Shareholders' equity 85,615,948 82,945,658 76,167,709 Total Liabilities and Shareholders Equity $ 1,096,514,049 $ 1,075,761,514 $ 1,094,184,672 Net interest income / NIM $ 9,167,826 3.40% $ 8,838,777 3.37% $ 7,800,865 2.90%
Community Heritage Financial, Inc. and SubsidiariesCondensed Average Balance Sheet Analysis (unaudited) Nine Months Ended September 30, 2025 September 30, 2024 Average Balance Interest Yield / Rate Average Balance Interest Yield / RateASSETS Interest-earning assets: Loans $ 870,744,610 $ 37,912,479 5.82% $ 837,078,047 $ 34,719,540 5.54% Securities 136,582,535 2,693,584 2.63% 136,530,567 2,319,892 2.27% Fed funds sold and other bank deposits 38,623,627 1,098,017 3.80% 85,270,379 3,258,429 5.10% 1,045,950,772 41,704,080 5.33% 1,058,878,992 40,297,861 5.08% Noninterest-earning assets 22,167,616 22,107,081 Total Assets $ 1,068,118,388 $ 1,080,986,073LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing liabilities: Demand deposits $ 526,941,332 $ 9,443,860 2.40% $ 533,485,343 $ 11,089,043 2.78% Time deposits 172,910,792 4,751,847 3.67% 139,554,338 3,767,413 3.61% Interest-bearing deposits 699,852,124 14,195,707 2.71% 673,039,681 14,856,456 2.95% Borrowings 26,871,375 1,097,434 5.45% 77,831,713 2,891,766 4.96% Interest-bearing liabilities 726,723,499 15,293,141 2.81% 750,871,394 17,748,222 3.16% Noninterest-bearing liabilities: Demand deposits 251,454,884 249,380,695 Other 6,873,118 7,016,653 Total Liabilities 985,051,501 1,007,268,742 Cost of Total Deposits 2.00% 2.15% Cost of Total Funds (interest- bearing liabilities plus non- interest-bearing deposits) 2.09% 2.37% Shareholders' equity 83,066,887 73,717,331 Total Liabilities and Shareholders Equity $ 1,068,118,388 $ 1,080,986,073 Net interest income / NIM $ 26,410,939 3.37% $ 22,549,639 2.84%
Community Heritage Financial, Inc. and SubsidiariesLoan and Deposit Composition (unaudited) As of Period End 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024Loans:Commercial real estate: Construction and land development $ 80,671,698 $ 67,819,407 $ 65,421,754 $ 59,761,206 $ 64,686,070 Multifamily 22,749,443 22,989,449 24,142,268 25,185,498 23,437,101 Farmland 29,121,486 32,872,235 32,376,907 32,424,255 30,448,216 Other: Owner occupied 142,991,662 139,335,615 143,451,648 136,172,517 137,266,535 Non-owner occupied 170,462,324 164,434,003 163,089,171 159,150,227 154,090,059Residential, including home equity 314,145,221 307,500,247 298,829,304 296,196,340 297,472,722Commercial and industrial 135,174,298 132,669,094 131,591,369 134,164,953 135,355,039Consumer 868,300 847,668 915,551 1,036,859 1,296,915 Gross loans 896,184,432 868,467,718 859,817,972 844,091,855 844,052,657 Net deferred loan costs 3,613,598 3,648,411 3,565,742 3,502,115 3,486,431 Total Loans $ 899,798,030 $ 872,116,129 $ 863,383,714 $ 847,593,970 $ 847,539,088Deposits:Noninterest-bearing demand $ 255,052,436 $ 256,355,584 $ 247,511,094 $ 251,431,084 $ 246,907,558Interest-bearing: NOW 1 210,272,863 203,461,544 193,760,532 194,682,425 223,884,815 Savings 71,308,729 73,765,147 72,670,367 69,979,571 69,566,114 Money Market 259,265,676 260,797,600 251,803,391 240,320,055 239,982,813 Time 186,442,485 183,470,513 166,967,041 151,593,584 152,458,481 Total interest-bearing 727,289,753 721,494,804 685,201,331 656,575,635 685,892,223 Total Deposits $ 982,342,189 $ 977,850,388 $ 932,712,425 $ 908,006,719 $ 932,799,781 1 Includes demand transaction accounts enrolled in the Bank's reciprocal deposit program.
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SOURCE Community Heritage Financial, Inc.
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