Elmer Bancorp, Inc. Announces Third Quarter 2026 Financial Results

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 nine months ended September 30, 2026.

For the three months ended September 30, 2026, Elmer Bancorp reported net income of $786,000, or $0.68 per average diluted common share, compared to $768,000, or $0.67 per average diluted common share for the three months ended September 30, 2025. For the nine months ended September 30, 2026, net income totaled $2.195 million or $1.91 per average diluted common share compared to $2.584 million, or $2.26 per average diluted common share for the nine months ended September 30, 2025.

Net interest income for the three months ended September 30, 2026 totaled $4.245 million, an increase of $134,000 from $4.111 million in the third quarter of 2025. For the nine months ended September 30, 2026, net interest income totaled $12.530 million compared to $11.893 million for the nine-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 $70,000 and $160,000 for the three and nine months ended September 30, 2026 compared to an increase of $40,000 and $124,000 for the three and nine months ended September 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 September 30, 2026 was $36,000 higher than the same three-month period a year ago and $461,000 lower than the nine-month period last year. Increases in Visa credit card commissions and higher service fee income accounted for the increase in the three-month period. The decrease in the nine-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 nine months ended September 30, 2026 versus the prior year periods by $120,000 and $491,000, 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 September 30, 2026 totaled $398.1 million, a decrease of $12.1 million from the September 30, 2025 level of $410.2 million. Loans totaled $339.7 million at September 30, 2026, an increase of $16.5 million from the September 30, 2025 total of $323.2 million. This increase in loans was more than offset by a decrease in overnight investments of $25.4 million. At September 30, 2026, the allowance for loan losses was 1.27% of total loans.

Deposits totaled $354.6 million at September 30, 2026, compared to the September 30, 2025 total of $369.2 million, reflecting a decrease of $10.5 million in interest bearing deposits and a decrease of $4.1 million in non-interest-bearing deposits. The September 30, 2025 balance included $5.0 million in short term borrowings which have since been re-paid and outlier deposit fluctuations of several large clients. In addition, the collection and growth of deposits continues to be highly competitive and rate sensitive. Stockholders’ equity totaled $40.8 million at September 30, 2026. The book value per share at September 30, 2026 was $35.23 compared to $33.36 per share at September 30, 2025. The Bank met all regulatory capital requirements to be classified as a well-capitalized institution as of September 30, 2026.

Brian W. Jones, President and Chief Executive Officer stated, “Our third quarter results remain strong highlighted by our solid loan growth of $16.5 million year-over-year. Net income continues to be consistent and at sustained levels. We remain confident in our ability to drive value for our shareholders as we continue to build shareholder equity. As always, we would like to thank our customers, shareholders and employees for their steadfast support.”

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.

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