Net Interest Margin Improvement
Net interest margin improved to 3.49% in Q4 2024 from 3.3% in Q4 2023 and 3.42% in Q3 2024, reflecting strategic balance sheet management.
Strong Asset Quality
Nonperforming assets declined to 0.16% of total assets, and nonperforming loans fell to 0.07% of period-end loans, showcasing strong asset quality.
Loan Portfolio Growth
The loan portfolio grew by $100.5 million for the year, with multifamily residential loans driving robust growth.
Capital Strength
Increased stockholders' equity by $27.7 million while repurchasing $15 million in stock and maintaining strong capital management.
Provision for Credit Losses
Total net charge-offs for Q4 fell to $155,000 from $833,000 in the prior year quarter, with allowance for credit losses maintained at 1.36% of total loans.