LIMERICK, Pa., April 29, 2025 (GLOBE NEWSWIRE) -- The Victory Bancorp, Inc. (OTCQX: VTYB), the holding company for The Victory Bank, today announced growth and financial highlights for the quarter ended March 31, 2025.
Financial Highlights for First Quarter 2025
Bank Leader, Joseph W. Major, stated, “The first quarter of 2025 highlights the strength and resilience of our organization. Despite economic headwinds, our dedicated team delivered strong results, with deposits rising by $35.19 million over the past year to $416.97 million, reflecting continued client confidence.
“Net income more than doubled year-over-year to $543 thousand, supported by improved net interest income and disciplined expense management. Our book value per share rose to $15.25, and equity reached $30.15 million, reinforcing our solid financial foundation.
“Credit quality remains exceptional, with nonperforming assets at 0.00% and net charge-offs at 0.01%, outperforming historical norms and reflecting our prudent risk management.
“Looking ahead, we’re energized by our recent expansion into Horsham, and remain focused on long-term growth, delivering value to our shareholders, and supporting the communities we serve.”
Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB and is the parent company of The Victory Bank. The Bank, founded in 2008, is a Pennsylvania state-chartered commercial bank headquartered in Limerick Township, Montgomery County. It offers a full range of banking services, including checking and savings accounts, home equity lines of credit, and personal loans. In addition to traditional banking, the Bank specializes in high-quality business lending, serving small and mid-sized businesses and professionals. With four offices across Montgomery and Berks Counties, it is dedicated to meeting the financial needs of the local community. For more information, visit its website at VictoryBank.com. FDIC-Insured.
This presentation may contain forward-looking statements (within the meaning of Private Securities Litigation Reform Act of 1995). Actual results may differ materially from the results discussed in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and other economic; competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services.
Contact:
Joseph W. Major,
Chairman and Chief Executive Officer
Robert H. Schultz,
Chief Financial Officer, Chief Operating Officer
Owen Magers
Investor Relations
484-791-3435
The Victory Bancorp, Inc.
548 N. Lewis Rd.
Limerick, PA 19468
| CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited) | |||||||||||
| (dollars in thousands, except per share data) | |||||||||||
| Mar 31, | Dec 31, | Mar 31, | |||||||||
| Selected Financial Data | 2025 | 2024 | 2024 | ||||||||
| Investment securities | $ | 44,416 | $ | 44,642 | $ | 47,015 | |||||
| Loans, net of allowance for credit losses | 382,267 | 390,954 | 377,792 | ||||||||
| Total assets | 466,844 | 461,024 | 450,102 | ||||||||
| Deposits | 416,970 | 397,080 | 381,783 | ||||||||
| Borrowings | 0 | 15,440 | 25,725 | ||||||||
| Subordinated debt | 17,325 | 17,309 | 12,836 | ||||||||
| Stockholders' equity | $ | 30,154 | $ | 29,337 | $ | 27,940 | |||||
| Book value per common share | $ | 15.25 | $ | 14.84 | $ | 14.18 | |||||
| Allowance/loans | 0.92 | % | 0.92 | % | 0.91 | % | |||||
| Nonperforming assets/total assets | 0.00 | % | 0.05 | % | 0.17 | % | |||||
| 3 Months Ended | |||||||||||
| Mar 31, | Dec 31, | Mar 31, | |||||||||
| Selected Operations Data | 2025 | 2024 | 2024 | ||||||||
| Interest income | $ | 6,927 | $ | 7,281 | $ | 6,860 | |||||
| Interest expense | 3,585 | 3,886 | 3,759 | ||||||||
| Net interest income | 3,342 | 3,395 | 3,101 | ||||||||
| Provision for loan losses | (55 | ) | (32 | ) | 49 | ||||||
| Other income | 190 | 299 | 199 | ||||||||
| Other expense | 2,895 | 3,000 | 2,957 | ||||||||
| Income before income taxes | 692 | 726 | 294 | ||||||||
| Income taxes | (149 | ) | (168 | ) | (64 | ) | |||||
| Net income | $ | 543 | $ | 558 | $ | 230 | |||||
| Earnings per common share (basic) | $ | 0.27 | $ | 0.28 | $ | 0.12 | |||||
| Earnings per common share (diluted) | $ | 0.27 | $ | 0.28 | $ | 0.11 | |||||
| Return on average assets (annualized) | 0.47 | % | 0.48 | % | 0.20 | % | |||||
| Return on average equity (annualized) | 7.30 | % | 7.58 | % | 3.29 | % | |||||
| Net charge-offs(recoveries)/average loans | (0.01 | )% | 0.00 | % | 0.03 | % | |||||