FDIC-Insured – Backed by the full faith and credit of the U.S. Government
ELMER, NEW JERSEY – April 30, 2026 – 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 quarter ended March 31, 2026.
For the three months ended March 31, 2026, Elmer Bancorp reported net income of $600,000, or $0.52 per average diluted common share, compared to $1.079 million, or $0.94 per average diluted common share for the quarter ended March 31, 2025.
Net interest income for the three months ended March 31, 2026 totaled $4.024 million, an increase of $243,000 from $3.781 million in the first quarter of 2025. This increase in net interest income is related to higher interest and fees on loans resulting from core loan growth year-over-year and higher interest income on our overnight investments partially offset by higher interest paid on deposits. Non-interest income decreased $520,000 resulting from the one-time Bank Owned Life Insurance (“BOLI”) net payout of $530,000 received in the first quarter of 2025. Non-interest expenses were $189,000 higher in the first quarter of this year compared to the same period last year. Higher employment costs, occupancy and equipment costs, data processing costs and advertising expenses were partially offset by a reduction in other operating expenses and professional fees. The allowance for loan losses was 1.24% of total loans at March 31, 2026 compared to 1.26% of total loans at March 31, 2025.
Elmer Bancorp’s total assets at March 31, 2026 were $400.0 million, an increase of $15.1 million from the March 31, 2025 level of $384.9 million. Loans totaled $339.6 million at March 31, 2026, an increase of $19.2 million from the March 31, 2025 total of $320.4 million. The increase in loans was partially offset by a decrease in overnight investments of $4.3 million year-over-year. Deposits totaled $358.1 million at March 31, 2026, a $12.1 million increase over the March 31, 2025 total of $346.0 million. Stockholders’ equity totaled $39.4 million at March 31, 2026. The book value per common share at March 31, 2026 was $34.23 compared to $31.86 per share at March 31, 2025. The Bank met all regulatory capital requirements to be classified as a well-capitalized institution as of March 31, 2026.
Brian W. Jones, President and Chief Executive Officer stated, “We are happy to report a strong first quarter of earnings in 2026, continuing to build on our record income in 2025. Both loans and deposits continue to increase due to solid organic growth within our target markets. Our bank is well capitalized and continues to accrete solid earnings to our book value. Even though the current economic conditions remain somewhat uncertain, the bank is strategically placed to manage evolving financial developments. As always, we are grateful to our loyal clients, employees and shareholders.”
As previously reported, on April 1, 2026 the Company’s Board of Directors declared a cash dividend in the amount of $0.20 per common share, payable on May 1, 2026 to shareholders of record as of the close of business on April 15, 2026.
Also, on April 1, 2026, the Company announced that the Annual Meeting of Shareholders will be held at The Grove at Centerton located at 1022 Almond Road, Pittsgrove, New Jersey on Tuesday, June 2, 2026 at 11:00 a.m. Eastern Time. The record date for shareholders to vote at the Annual Meeting is April 8, 2026.
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.
Cynthia L. Volk
Executive Vice President
Chief Financial Officer