Community Heritage Financial, Inc. (CMHF: Pink Current) | Community Heritage Financial, Inc. Reports 54% Increase in Earnings for the Year Ended 2024
Community Heritage Financial, Inc. (OTC PK: CMHF), the parent company of Middletown Valley Bank, has reported strong financial results for the year ended December 31, 2024. Key highlights include:
- Net income increased by 54.3% to $6.6 million, or $2.27 per diluted share, compared to $4.3 million in 2023.
- Total assets reached $1.02 billion as of December 31, 2024, a $31.7 million increase from the previous year.
- Loan balances grew by 4.3% to $847.6 million compared to December 31, 2023.
- Net interest income rose to $30.7 million in 2024, up from $26.1 million in 2023.
- The net interest margin improved to 2.92% for 2024, compared to 2.76% in 2023.
- Asset quality remained strong with non-performing assets to total assets at 0.15% on December 31, 2024.
- The Board of Directors declared a dividend of $0.08 per common share, payable on February 7, 2025.
These results demonstrate Community Heritage Financial’s solid performance and growth in a challenging economic environment, with improvements in key financial metrics and asset quality.
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