FDIC-Insured - Backed by the full faith and credit of the U.S. Government
ELMER, NEW JERSEY – July 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 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.