MIDDLETOWN, Md., Jan. 26, 2026 /PRNewswire/ -- Community Heritage Financial, Inc. (the "Company" or "CHF") (OTC PK: CMHF), the parent company of Middletown Valley Bank ("MVB" or the "Bank"), reported record net income of $8.7 million, or $2.93 per diluted common share, for the year ended December 31, 2025, an increase of $2.1 million, or 30.6%, in comparison to net income of $6.6 million, or $2.27 per diluted common share, for the year ended December 31, 2024. Return on average assets increased to 0.80% for the year ended December 31, 2025 from 0.62% for the same period in 2024. Net income for the quarter ended December 31, 2025 totaled $2.4 million, or $0.80 per diluted common share, yielding an annualized return on average assets of 0.85%. Compared to the third quarter of 2025, net income increased $434 thousand, or 22.4%. Compared to the fourth quarter of 2024, net income increased $635 thousand, or 36.6%.
Balance Sheet
Assets totaled $1.1 billion as of December 31, 2025, representing an increase of $108.7 million since December 31, 2024. Asset growth during the year was funded by growth in deposits of $76.8 million, or 8.5%, growth in borrowings of $18.0 million and growth in shareholders' equity of $9.8 million, or 12.4%.
Gross loan balances outstanding grew to $927.2 million as of December 31, 2025, representing an increase of $83.2 million, or 9.9% from December 31, 2024. Growth in construction and land development loans, residential loans, which includes home equity loans, non-owner occupied commercial real estate loans, owner occupied commercial real estate loans and commercial and industrial loans of $27.3 million, $25.9 million, $18.0 million, $10.8 million and $5.1 million, respectively, contributed to the annual loan growth. Declines in farmland and multifamily loan balances of $2.4 million and $1.8 million, respectively, offset the growth in other portfolios. The Bank's commercial real estate concentration level was 251% of tier 1 capital plus the allowance for credit losses - loans (the "ACL - loans") as of December 31, 2025.
Asset Quality
The ratio of the ACL - loans to total loans (the "ACL - loans ratio") was 1.06% as of December 31, 2025 compared to 0.98% as of December 31, 2024. The provision for credit losses increased from $607 thousand for the year ended December 31, 2024 to $1.5 million for the same period in 2025. The increases in the ACL - loans ratio and the provision for credit losses reflected a $750 thousand specific loan reserve recorded in the third quarter of 2025 as previously reported. The specific reserve represents 100% of the outstanding balance of a single commercial loan to a customer that uncovered internal theft by one of its owners. As of December 31, 2025 and 2024, non-performing assets totaled $2.0 million, or 0.18% of total assets, and $1.5 million, or 0.15% of total assets, respectively. The ratio of net charge-offs to average total loans was zero percent for the years ended December 31, 2025 and 2024.
Net Interest Income
Net interest income totaled $36.0 million for the year ended December 31, 2025, compared to $30.7 million for the same period in 2024. The net interest margin ("NIM") increased from 2.92% for year ended December 31, 2024 to 3.42% for the same period in 2025. On a quarterly basis, the NIM increased from 3.13% for the fourth quarter of 2024 to 3.40% and 3.56% for the third and fourth quarters of 2025, respectively. The Company's improving NIM reflects continued upward repricing of fixed rate loans and securities booked during a period of low interest rates prior to March 2022 and a falling cost of total funds as the Federal Reserve Bank (the "FRB") began lowering short-term interest rates in September 2024. The Company's yield on earning assets increased from 5.10% for the year ended 2024 to 5.36% for the year ended 2025. The Company's annual cost of total funds decreased from 2.32% in 2024 to 2.07% in 2025.
Noninterest Income
Year ended December 31, 2025 vs. year ended December 31, 2024 - Noninterest income increased $425 thousand. During 2024, the Company repositioned a small percentage of its investment portfolio and incurred a $442 thousand loss on the sale of investment securities, which contributed to the change in noninterest income on a comparative basis. In addition, increases in card and merchant services fees of $110 thousand and other noninterest income of $128 thousand were offset by declines in mortgage banking revenue of $159 thousand and earnings on bank-owned life insurance of $82 thousand. The decline in mortgage banking revenue reflected origination activity challenged by relatively high interest rates and buyers' affordability concerns. The increase in other noninterest income included $75 thousand received for the referrals to a third party for SBA eligible loans and interest rate swap fee income of $51 thousand. The change in earnings on bank-owned life insurance reflected equity market performance.
Fourth Quarter 2025 vs. Fourth Quarter 2024 - Noninterest income increased $8 thousand, exclusive of the $442 thousand loss on the sale of securities recognized during the fourth quarter of 2024. Mortgage banking revenue decreased $43 thousand reflecting market challenges previously noted. Offsetting the decrease in mortgage banking revenue were increases in earnings on bank-owned life insurance of $25 thousand, which was largely based on the performance of equity markets, and card and merchant services fees of $22 thousand, driven by increased activity.
Linked quarter 2025 - Noninterest income increased $30 thousand during the fourth quarter of 2025 compared to the third quarter of 2025. Mortgage banking revenue increased $79 thousand based on increased secondary market sale activity. While origination activity was stronger in the fourth quarter than in the third quarter, overall activity remains challenged by interest rate levels and buyers' affordability concerns. Earnings on bank-owned life insurance decreased $30 thousand, reflecting equity market performance in the fourth quarter relative to the third quarter.
Noninterest Expense
Year ended December 31, 2025 vs. year ended December 31, 2024 - Noninterest expense increased $2.2 million in 2025 compared to 2024. The increase was largely attributable to an increase in salaries and benefits of $1.3 million, an increase in other noninterest expense of $366 thousand, an increase in data and item processing expense of $215 thousand, and an increase in legal and professional fees of $121 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 $130 thousand, donations and sponsorships expense of $91 thousand, and training and development expense of $85 thousand. Data and item processing expense included an increase in fraud related activity of $80 thousand, from $311 thousand in 2024 to $391 thousand in 2025, and higher costs associated with increased transaction activity. The increase in legal and professional fees was largely driven by costs associated with Bank's anticipated need to meet next level FDIC Improvement Act ("FDICIA") compliance. On November 25, 2025, the FDICIA internal control audit threshold was increased from $1 billion in assets to $5 billion in assets, postponing the need for the Bank to meet next level compliance.
Fourth Quarter 2025 vs. Fourth Quarter 2024 - Noninterest expense increased $1.1 million quarter-over-quarter. The increase was driven primarily by increases in salaries and employee benefits of $536 thousand, FDIC insurance of $183 thousand, other noninterest expense of $153 thousand, and data and item processing expense of $174 thousand. The increase in salaries and benefits reflected merit increases, increased incentive compensation accruals and increased health insurance costs. The increase in FDIC insurance included a $200 thousand non-recurring accrual adjustment. Included in the increase in other noninterest expense was increases in donations and sponsorships expense of $67 thousand, ATM and card expense of $27 thousand, and training and development expense of $22 thousand. The increase in data and item processing expense was largely driven by an increase in fraud losses of $122 thousand quarter-over-quarter.
Linked quarter 2025 - Noninterest expense increased $716 thousand on a linked quarter basis. The increase was primarily driven by increases in salaries and benefits, FDIC insurance costs, other noninterest expense, and data and item processing expense of $240 thousand, $223 thousand, $111 thousand, and $102 thousand, respectively. The increase in salaries and benefits reflected increased incentive compensation accruals and health insurance costs. The increase in FDIC insurance included a $200 thousand non-recurring accrual adjustment. The increase in other noninterest expense was driven largely by increased donations and sponsorships of $64 thousand. The increase in data and item processing expense included an increase in fraud losses of $98 thousand quarter-over-quarter.
Dividend
A dividend of $0.08 per common share was declared by the Board of Directors on January 16, 2026, for shareholders of record as of January 30, 2026, and payable on February 6, 2026.
Reclassifications
Reclassifications of certain previously reported amounts have been made to conform to current period reporting. No such reclassifications were significant.
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.
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.
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 Subsidiaries
Balance Sheets (unaudited)
As of Period End
12/31/2025
9/30/2025
6/30/2025
3/31/2025 12/31/2024
ASSETS
Cash and due from banks $30,707,438 $28,508,739 $67,210,170 $41,754,293 $16,510,418
Securities available-for-sale, at fair
value 53,681,375 54,390,834 46,712,422 42,514,398 40,481,911
Securities held-to-maturity 86,553,557 87,642,810 88,807,858 90,382,973 91,374,820
Less allowance for credit losses 78,511 73,338 92,176 93,416 102,896
Total securities held-to-maturity 86,475,046 87,569,472 88,715,682 90,289,557 91,271,924
Total securities 140,156,421 141,960,306 135,428,104 132,803,955 131,753,835
Equity securities, at cost 2,281,700 951,700 1,426,700 1,901,700 1,404,700
Loans 930,855,154 899,798,030 872,116,129 863,383,714 847,593,970
Less allowance for credit losses -loans
(1) 9,842,370 9,648,797 8,675,088 8,525,628 8,279,404
Loans, net 921,012,784 890,149,233 863,441,041 854,858,086 839,314,566
Loans held for sale 3,935,463 3,782,055 1,445,377 564,685 5,106,956
Premises and equipment 6,423,885 6,335,780 6,169,205 5,587,862 5,633,510
Right of use asset 5,014,155 1,691,267 1,816,066 1,939,827 1,911,836
Accrued interest receivable 3,397,155 3,433,569 3,422,469 3,342,795 3,152,505
Deferred tax assets 4,452,078 4,501,612 4,356,321 4,431,764 4,558,255
Bank owned life insurance 7,837,986 7,656,529 7,570,668 7,443,531 7,411,319
Goodwill 1,656,507 1,656,507 1,656,507 1,656,507 1,656,507
Other assets 2,022,256 1,836,331 1,666,160 1,781,387 1,826,160
Total Assets $1,128,897,828 $1,092,463,628 $1,095,608,788 $1,058,066,392 $1,020,240,567
LIABILITIES and SHAREHOLDERS' EQUITY
Liabilities
Deposits:
Noninterest-bearing demand $257,415,232 $255,052,436 $256,355,584 $247,511,094 $251,431,084
Interest-bearing 727,389,108 727,289,753 721,494,804 685,201,331 656,575,635
Total deposits 984,804,340 982,342,189 977,850,388 932,712,425 908,006,719
FHLB advances and other borrowings 33,000,000 5,000,000 15,000,000 25,000,000 15,000,000
Subordinated debt, net 12,052,944 12,049,882 12,046,819 12,043,757 12,040,695
Lease liabilities 5,088,540 1,760,706 1,886,828 2,011,829 1,984,920
Accrued interest payable 473,682 709,739 567,996 730,113 485,160
Other liabilities 4,627,763 4,306,714 4,321,095 4,380,812 3,694,164
Total Liabilities 1,040,047,269 1,006,169,230 1,011,673,126 976,878,936 941,211,658
Shareholders' Equity
Common stock 29,327 29,291 29,289 29,289 29,198
Additional paid-in-capital 41,649,351 41,588,025 41,469,625 41,351,223 41,331,966
Retained earnings 52,313,860 50,180,223 48,480,152 46,246,459 44,597,524
Accumulated other comprehensive loss (5,141,979) (5,503,141) (6,043,404) (6,439,515) (6,929,779)
Total Shareholders' Equity 88,850,559 86,294,398 83,935,662 81,187,456 79,028,909
Total Liabilities and Shareholders'
Equity $1,128,897,828 $1,092,463,628 $1,095,608,788 $1,058,066,392 $1,020,240,567
(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 Subsidiaries
Statements of Income (unaudited)
Three Months Ended
Year Ended
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024
Interest Income
Loans, including fees $13,604,427 $13,086,145 $12,597,796 $12,228,538 $12,057,265 $51,516,906 $46,776,805
Securities 994,358 946,231 888,721 858,632 809,512 3,687,942 3,129,403
Fed funds sold and
other bank deposits 176,658 511,786 467,029 119,202 548,309 1,274,675 3,806,739
Total interest income 14,775,443 14,544,162 13,953,546 13,206,372 13,415,086 56,479,523 53,712,947
Interest Expense
Deposits 4,873,913 5,031,782 4,758,194 4,405,731 4,686,005 19,069,620 19,542,461
Borrowed funds 57,799 137,305 149,325 189,055 380,370 533,484 2,557,988
Subordinated debt 207,250 207,249 207,250 207,250 209,934 828,999 924,082
Total interest expense 5,138,962 5,376,336 5,114,769 4,802,036 5,276,309 20,432,103 23,024,531
Net interest income 9,636,481 9,167,826 8,838,777 8,404,336 8,138,777 36,047,420 30,688,416
Provision for credit losses 124,140 960,847 148,330 248,558 178,624 1,481,875 606,718
Net interest income after provision
for credit losses 9,512,341 8,206,979 8,690,447 8,155,778 7,960,153 34,565,545 30,081,698
Noninterest income
Mortgage banking
revenue 428,177 348,561 406,440 164,015 470,783 1,347,193 1,505,158
Card and merchant
services 337,191 333,325 310,082 281,415 314,785 1,262,013 1,151,964
Service charges on
deposits 252,477 254,754 231,856 235,097 262,583 974,184 989,366
Earnings on bank-
owned life insurance 48,166 77,570 118,847 23,920 23,398 268,503 350,752
Loss on sale of
investment securities - (442,493) (442,493)
Other 18,737 40,436 25,959 77,870 5,427 163,002 35,320
Total noninterest
income 1,084,748 1,054,646 1,093,184 782,317 634,483 4,014,895 3,590,067
Noninterest expense
Salaries and employee
benefits 4,101,261 3,861,631 3,660,059 3,847,202 3,565,344 15,470,153 14,194,102
Occupancy and
equipment 709,382 641,092 623,512 670,904 661,492 2,644,890 2,580,933
Data and item
processing 1,043,435 940,872 911,744 845,027 869,267 3,741,078 3,525,294
Legal and professional
fees 320,853 332,527 366,768 277,977 291,944 1,298,125 1,176,792
FDIC insurance 389,431 166,176 170,937 142,866 206,376 869,410 807,442
Advertising 74,846 91,883 79,253 107,375 78,362 353,357 306,194
Other 769,525 658,319 604,861 587,891 616,615 2,620,596 2,254,691
Total noninterest
expense 7,408,733 6,692,500 6,417,134 6,479,242 6,289,400 26,997,609 24,845,448
Income before income taxes 3,188,356 2,569,125 3,366,497 2,458,853 2,305,236 11,582,831 8,826,317
Income tax expense 820,106 634,729 898,493 576,217 571,853 2,929,545 2,198,505
Net income $2,368,250 $1,934,396 $2,468,004 $1,882,636 $1,733,383 $8,653,286 $6,627,812
Community Heritage Financial, Inc. and Subsidiaries
Per Share Data (unaudited)
Three Months Ended
Year Ended
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024
Earnings per common share
Basic $0.81 $0.66 $0.84 $0.64 $0.59 $2.96 $2.27
Diluted $0.80 $0.66 $0.84 $0.64 $0.59 $2.93 $2.27
Common shares outstanding at period end 2,932,680 2,929,053 2,928,888 2,928,888 2,919,797 2,932,680 2,919,797
Average common shares outstanding
Basic 2,932,562 2,929,012 2,928,888 2,922,624 2,919,677 2,928,301 2,916,191
Diluted 2,956,327 2,952,922 2,944,207 2,937,508 2,934,754 2,948,966 2,924,791
Cash dividends paid per common share $0.08 $0.08 $0.08 $0.08 $0.06 $0.32 $0.24
Community Heritage Financial, Inc. and Subsidiaries
Selected Financial Data (unaudited)
As of and for the Three Months Ended As of and for the Year Ended
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024
Per Share Data
Common shares outstanding 2,932,680 2,929,053 2,928,888 2,928,888 2,919,797 2,932,680 2,919,797
Book value per share $30.30 $29.46 $28.66 $27.72 $27.07 $30.30 $27.07
Tangible book value per share $29.73 $28.90 $28.09 $27.15 $26.50 $29.73 $26.50
Capital (bank consolidated unless noted otherwise)
Common equity tier 1 (CET1) capital 11.96 % 12.15 % 12.28 % 12.11 % 12.12 % 11.96 % 12.12 %
Tier 1 capital 11.96 % 12.15 % 12.28 % 12.11 % 12.12 % 11.96 % 12.12 %
Total risk based capital 13.14 % 13.37 % 13.41 % 13.23 % 13.24 % 13.14 % 13.24 %
Tier 1 leverage ratio 9.48 % 9.32 % 9.29 % 9.47 % 9.06 % 9.48 % 9.06 %
Tangible common equity to tangible
assets (CHF) 7.74 % 7.76 % 7.52 % 7.53 % 7.60 % 7.74 % 7.60 %
Asset Quality Data
Non-accrual loans $2,025,128 $2,044,469 $1,442,329 $1,488,718 $1,525,759 $2,025,128 $1,525,759
Non-performing assets $2,025,128 $2,044,469 $1,442,329 $1,488,718 $1,525,759 $2,025,128 $1,525,759
Non-performing loans to loans 0.22 % 0.23 % 0.17 % 0.17 % 0.18 % 0.22 % 0.18 %
Non-performing assets to total assets 0.18 % 0.19 % 0.13 % 0.14 % 0.15 % 0.18 % 0.15 %
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 1.06 % 1.07 % 0.99 % 0.99 % 0.98 % 1.06 % 0.98 %
Other Data
Return on average assets 0.85 % 0.70 % 0.92 % 0.74 % 0.65 % 0.80 % 0.62 %
Return on average equity 10.63 % 8.96 % 11.93 % 9.47 % 8.77 % 10.25 % 8.81 %
Net interest margin 3.56 % 3.40 % 3.37 % 3.36 % 3.13 % 3.42 % 2.92 %
Yield on interest-earning assets 5.45 % 5.38 % 5.32 % 5.29 % 5.16 % 5.36 % 5.10 %
Cost of interest-bearing liabilities 2.73 % 2.85 % 2.80 % 2.78 % 2.93 % 2.79 % 3.09 %
Loans to deposits ratio 94.52 % 91.60 % 89.19 % 92.57 % 93.35 % 94.52 % 93.35 %
(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 Subsidiaries
Condensed Average Balance Sheet Analysis (unaudited)
Three Months Ended
December 31, 2025
September 30, 2025
December 31, 2024
Average Balance Interest Yield / Average Balance Interest Yield / Average Balance Interest Yield /
Rate Rate Rate
ASSETS
Interest-earning assets:
Loans, including LHFS $912,725,275 $13,604,427 5.92 % $883,763,296 $13,086,145 5.89 % $845,597,778 $12,057,265 5.67 %
Securities 141,711,495 994,358 2.81 % 139,178,904 946,231 2.72 % 137,715,051 809,512 2.35 %
Fed funds sold and other bank
deposits 23,885,027 176,658 2.93 % 51,010,040 511,786 3.98 % 50,564,597 548,309 4.31 %
1,078,321,797 14,775,443 5.45 % 1,073,952,240 14,544,162 5.38 % 1,033,877,426 13,415,086 5.16 %
Noninterest-earning assets 22,566,196 22,561,809 22,661,279
Total Assets $1,100,887,993 $1,096,514,049 $1,056,538,705
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
Demand deposits $543,210,487 $3,171,644 2.32 % $541,428,761 $3,332,702 2.44 % $518,306,801 $3,253,566 2.50 %
Time deposits 185,466,889 1,702,269 3.64 % 184,562,867 1,699,080 3.65 % 152,086,436 1,432,439 3.75 %
Interest-bearing deposits 728,677,376 4,873,913 2.65 % 725,991,628 5,031,782 2.75 % 670,393,237 4,686,005 2.78 %
Borrowings 17,706,873 265,049 5.98 % 23,176,928 344,554 5.93 % 46,286,930 590,304 5.08 %
Interest-bearing liabilities 746,384,249 5,138,962 2.73 % 749,168,556 5,376,336 2.85 % 716,680,167 5,276,309 2.93 %
Noninterest-bearing liabilities:
Demand deposits 259,251,011 255,304,997 253,879,418
Other 6,860,187 6,424,548 7,305,326
Total Liabilities 1,012,495,447 1,010,898,101 977,864,911
Cost of Total Deposits 1.96 % 2.03 % 2.02 %
Cost of Total Funds (interest-
bearing liabilities plus non-
interest-bearing deposits) 2.02 % 2.09 % 2.16 %
Shareholders' equity 88,392,546 85,615,948 78,673,794
Total Liabilities and
Shareholders Equity $1,100,887,993 $1,096,514,049 $1,056,538,705
Net interest income /NIM $9,636,481 3.56 % $9,167,826 3.40 % $8,138,777 3.13 %
Community Heritage Financial, Inc. and Subsidiaries
Condensed Average Balance Sheet Analysis (unaudited)
Year Ended
December 31, 2025
December 31, 2024
Average Balance Interest Yield / Average Balance Interest Yield /
Rate Rate
ASSETS
Interest-earning assets:
Loans $881,496,075 $51,516,906 5.84 % $839,224,673 $46,776,805 5.57 %
Securities 137,877,083 3,687,942 2.67 % 136,828,070 3,129,403 2.29 %
Fed funds sold and other bank
deposits 34,897,298 1,274,675 3.65 % 76,579,067 3,806,739 4.97 %
1,054,270,456 56,479,523 5.36 % 1,052,631,810 53,712,947 5.10 %
Noninterest-earning assets 22,104,726 23,635,945
Total Assets $1,076,375,182 $1,076,267,755
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
Demand deposits $531,036,226 $12,615,504 2.38 % $531,478,268 $14,342,609 2.70 %
Time deposits 176,075,443 6,454,116 3.67 % 142,704,542 5,199,852 3.64 %
Interest-bearing deposits 707,111,669 19,069,620 2.70 % 674,182,810 19,542,461 2.90 %
Borrowings 24,563,215 1,362,483 5.55 % 69,941,302 3,482,070 4.98 %
Interest-bearing liabilities 731,674,884 20,432,103 2.79 % 744,124,112 23,024,531 3.09 %
Noninterest-bearing liabilities:
Demand deposits 253,421,861 249,951,973
Other 6,869,084 6,944,062
Total Liabilities 991,965,829 1,001,020,147
Cost of Total Deposits 1.99 % 2.11 %
Cost of Total Funds (interest-
bearing liabilities plus non-
interest-bearing deposits) 2.07 % 2.32 %
Shareholders' equity 84,409,353 75,247,608
Total Liabilities and
Shareholders Equity $1,076,375,182 $1,076,267,755
Net interest income /NIM $36,047,420 3.42 % $30,688,416 2.92 %
Community Heritage Financial, Inc. and Subsidiaries
Loan and Deposit Composition (unaudited)
As of Period End
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024
Loans:
Commercial real estate:
Construction and
land development $87,098,819 $80,671,698 $67,819,407 $65,421,754 $59,761,206
Multifamily 23,416,919 22,749,443 22,989,449 24,142,268 25,185,498
Farmland 30,057,354 29,121,486 32,872,235 32,376,907 32,424,255
Other:
Owner occupied 147,006,921 142,991,662 139,335,615 143,451,648 136,172,517
Non-owner occupied 177,115,227 170,462,324 164,434,003 163,089,171 159,150,227
Residential, including home equity 322,126,792 314,145,221 307,500,247 298,829,304 296,196,340
Commercial and industrial 139,246,435 135,174,298 132,669,094 131,591,369 134,164,953
Consumer 1,181,301 868,300 847,668 915,551 1,036,859
Gross loans 927,249,768 896,184,432 868,467,718 859,817,972 844,091,855
Net deferred loan
costs 3,605,386 3,613,598 3,648,411 3,565,742 3,502,115
Total Loans $930,855,154 $899,798,030 $872,116,129 $863,383,714 $847,593,970
Deposits:
Noninterest-bearing demand $257,415,232 $255,052,436 $256,355,584 $247,511,094 $251,431,084
Interest-bearing:
NOW (1) 209,645,963 210,272,863 203,461,544 193,760,532 194,682,425
Savings 71,859,873 71,308,729 73,765,147 72,670,367 69,979,571
Money Market 262,624,901 259,265,676 260,797,600 251,803,391 240,320,055
Time 183,258,371 186,442,485 183,470,513 166,967,041 151,593,584
Total interest-
bearing 727,389,108 727,289,753 721,494,804 685,201,331 656,575,635
Total Deposits $984,804,340 $982,342,189 $977,850,388 $932,712,425 $908,006,719
(1) Includes demand transaction accounts enrolled in the Bank's reciprocal deposit
program.
Community Heritage Financial, Inc. and Subsidiaries
Reclassifications (unaudited)
As of Period End
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024
Occupancy and equipment as previously reported $6,437,225 $6,354,368 $6,196,774 $5,628,103 $5,688,187
Reclassify software 13,340 18,588 27,569 40,241 54,677
Occupancy and equipment as reported $6,423,885 $6,335,780 $6,169,205 $5,587,862 $5,633,510
Other assets as previously reported $2,008,916 $1,817,743 $1,638,591 $1,741,146 $1,771,483
Reclassify software 13,340 18,588 27,569 40,241 54,677
Other assets as reported $2,022,256 $1,836,331 $1,666,160 $1,781,387 $1,826,160
Three Months Ended
Year Ended
12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024
Occupancy and equipment as previously reported $981,764 $913,042 $848,881 $925,091 $906,738 $3,668,778 $3,541,539
Reclassify software expense 272,382 271,950 225,369 254,187 245,246 1,023,888 960,606
Occupancy and equipment as reported $709,382 $641,092 $623,512 $670,904 $661,492 $2,644,890 $2,580,933
Data and item processing as previously reported $771,053 $668,922 $686,375 $590,840 $624,021 $2,717,190 $2,564,688
Reclassify software expense 272,382 271,950 225,369 254,187 245,246 1,023,888 960,606
Data and item processing as reported $1,043,435 $940,872 $911,744 $845,027 $869,267 $3,741,078 $3,525,294
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SOURCE Community Heritage Financial, Inc.
