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, 2025.

For the three months ended September 30, 2025, Elmer Bancorp reported net income of $768,000, or $0.67 per average diluted common share, compared to $712,000, or $0.62 per average diluted common share for the three months ended September 30, 2024. For the nine months ended September 30, 2025, net income totaled $2.584 million or $2.26 per average diluted common share compared to $2.136 million, or $1.87 per average diluted common share for the nine months ended September 30, 2024.

Net interest income for the three months ended September 30, 2025 totaled $4.111 million, an increase of $466,000 from $3.645 million in the third quarter of 2024. For the nine months ended September 30, 2025, net interest income totaled $11.893 million compared to $10.886 million for the nine-month period of 2024. This increase in net interest income is the result of higher interest and fees on loans partially offset by higher interest paid on deposits and lower income on our overnight investments. The loan loss provision was increased by $40,000 and $124,000 for the three and nine months ended September 30, 2025 compared to no loan loss provision in the third quarter of 2024 and a reduction of $68,000 for the nine months ended September 30, 2024. 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, 2025 was $18,000 higher than the same three-month period a year ago and $598,000 higher than the nine-month period last year. Increases in the cash surrender value of Bank Owned Life Insurance (“BOLI”) accounted for the increase in the three-month period. For the increase in the nine-month period, the one-time BOLI payout, higher service fee income and increased Visa credit card commissions were partially offset by a loss on Other Real Estate Owned (“OREO”).

Non-interest expenses were higher for the three and nine months ended September 30, 2025 versus the prior year periods by $371,000 and $1.005 million, respectively. Increases in employment costs, professional fees, and occupancy and equipment costs were partially offset by lower OREO expenses.

Elmer Bancorp’s total assets at September 30, 2025 totaled $410.2 million, an increase of $28.5 million from the September 30, 2024 level of $381.7 million. Loans totaled $323.2 million at September 30, 2025, an increase of $22.3 million from the September 30, 2024 total of $300.9 million. At September 30, 2025, the allowance for loan losses was 1.28% of total loans.

Deposits totaled $369.2 million at September 30, 2025, a $24.8 million increase over the September 30, 2024 total of $344.4 million, reflecting an increase of $21.1 million in interest bearing deposits and an increase of $3.7 million in non-interest bearing deposits. Stockholders’ equity totaled $38.4 million at September 30, 2025. The book value per share at September 30, 2025 was $33.36 compared to $30.77 per share at September 30, 2024. The Bank met all regulatory capital requirements to be classified as a well-capitalized institution as of September 30, 2025.

Brian W. Jones, President and Chief Executive Officer stated, “The Bank’s 2025 third quarter results continued to build on the strong performance of our second quarter of 2025. Net income remains strong and earnings per share consistent. The increase in net interest income from the third quarter of 2024 is a direct result of the loan growth of $22.3 million year-over-year. We have seen deposit growth reflected by the increase of $24.8 million from September 30, 2024. We continued to build shareholder equity while experiencing stable organic growth. We are very appreciative and grateful of our loyal customers, shareholders and employees and wish to thank them for their ongoing 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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