Community Heritage Financial, Inc. Announces Record 2025 Financial Results

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 – loans¹to 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 / Rate	Average Balance	Interest	Yield / Rate	Average Balance	Interest	Yield / Rate
			Average Balance	Interest	Yield / Rate	Average Balance	Interest	Yield / Rate	Average Balance	Interest	Yield / 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 / Rate	Average Balance	Interest	Yield / Rate
			Average Balance	Interest	Yield / Rate	Average Balance	Interest	Yield / 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.

Community Heritage Financial, Inc. Announces Record 2025 Financial Results

Cision PR Newswire

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