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Commercial National Financial Corporation Reports1st Quarter 2025 Results

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Commercial National Financial (CEFC) has reported strong Q1 2025 financial results, with net income reaching $1,429,000 ($0.36 per share), up from $1,161,000 ($0.29 per share) in Q1 2024. The company's Return on Equity improved to 11.31% from 9.95% year-over-year.

Key financial metrics include:

  • Net interest income increased by $348,000 (7.7%)
  • Operating expenses decreased by $19,000 (0.5%)
  • Total assets stood at $571 million, down from $592 million in 2024
  • Non-performing assets ratio at 0.32%

While total loans decreased by $24 million (5.7%) due to high interest rates and early payoffs, the company's subsidiary Commercial Bank maintains a strong capital position, significantly above 'well capitalized' regulatory requirements. The bank's Total Risk-Based Capital Ratio improved to 17.18% from 15.81% year-over-year.

Commercial National Financial (CEFC) ha riportato risultati finanziari molto positivi nel primo trimestre del 2025, con un utile netto pari a 1.429.000 $ (0,36 $ per azione), in aumento rispetto a 1.161.000 $ (0,29 $ per azione) nel primo trimestre del 2024. Il ritorno sul capitale proprio è migliorato, passando dall'9,95% all'11,31% su base annua.

I principali indicatori finanziari includono:

  • Il reddito netto da interessi è aumentato di 348.000 $ (7,7%)
  • Le spese operative sono diminuite di 19.000 $ (0,5%)
  • Il totale degli attivi si è attestato a 571 milioni di dollari, in calo rispetto ai 592 milioni del 2024
  • Il rapporto tra attività non performanti e totale attivi è dello 0,32%

Nonostante il calo dei prestiti totali di 24 milioni di dollari (5,7%) dovuto ai tassi di interesse elevati e ai rimborsi anticipati, la controllata Commercial Bank mantiene una solida posizione patrimoniale, ben al di sopra dei requisiti regolamentari per essere considerata "ben capitalizzata". Il rapporto patrimoniale totale basato sul rischio della banca è migliorato, passando dal 15,81% al 17,18% su base annua.

Commercial National Financial (CEFC) ha reportado sólidos resultados financieros en el primer trimestre de 2025, con un ingreso neto de $1,429,000 ($0.36 por acción), superior a los $1,161,000 ($0.29 por acción) del primer trimestre de 2024. El retorno sobre el capital mejoró a 11.31% desde 9.95% interanual.

Los principales indicadores financieros incluyen:

  • Los ingresos netos por intereses aumentaron $348,000 (7.7%)
  • Los gastos operativos disminuyeron $19,000 (0.5%)
  • Los activos totales se situaron en $571 millones, por debajo de $592 millones en 2024
  • La proporción de activos morosos es del 0.32%

Aunque los préstamos totales disminuyeron $24 millones (5.7%) debido a las altas tasas de interés y pagos anticipados, la subsidiaria Commercial Bank mantiene una sólida posición de capital, muy por encima de los requisitos regulatorios para ser considerada "bien capitalizada". La razón de capital total basada en riesgo del banco mejoró a 17.18% desde 15.81% interanual.

Commercial National Financial (CEFC)� 2025� 1분기� 강력� 재무 성과� 보고했으�, 순이익은 1,429,000달러(주당 0.36달러)� 2024� 1분기� 1,161,000달러(주당 0.29달러)에서 증가했습니다. 자기자본이익�(ROE)은 전년 대� 9.95%에서 11.31%� 개선되었습니�.

주요 재무 지표는 다음� 같습니다:

  • 순이자수익이 348,000달러(7.7%) 증가
  • 운영비용� 19,000달러(0.5%) 감소
  • 총자산은 5� 7,100� 달러� 2024년의 5� 9,200� 달러에서 감소
  • 부실자� 비율은 0.32%

� 대출금은 높은 금리와 조기 상환으로 인해 2,400� 달러(5.7%) 감소했으�, 자회사인 Commercial Bank� 규제 기준� '양호� 자본 상태'� 훨씬 상회하는 강한 자본 상태� 유지하고 있습니다. 은행의 � 위험기반 자본비율은 전년 대� 15.81%에서 17.18%� 개선되었습니�.

Commercial National Financial (CEFC) a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un bénéfice net atteignant 1 429 000 $ (0,36 $ par action), en hausse par rapport à 1 161 000 $ (0,29 $ par action) au premier trimestre 2024. Le rendement des capitaux propres est passé de 9,95 % à 11,31 % en glissement annuel.

Les principaux indicateurs financiers comprennent :

  • Le produit net d’intérêts a augmenté de 348 000 $ (7,7 %)
  • Les charges d’exploitation ont diminué de 19 000 $ (0,5 %)
  • Le total des actifs s’élève à 571 millions de dollars, en baisse par rapport à 592 millions en 2024
  • Le ratio des actifs non performants est de 0,32 %

Bien que les prêts totaux aient diminué de 24 millions de dollars (5,7 %) en raison des taux d’intérêt élevés et des remboursements anticipés, la filiale Commercial Bank maintient une solide position en capital, largement au-dessus des exigences réglementaires pour être considérée comme "bien capitalisée". Le ratio de fonds propres pondéré en fonction des risques de la banque est passé de 15,81 % à 17,18 % en glissement annuel.

Commercial National Financial (CEFC) hat starke Finanzergebnisse für das erste Quartal 2025 gemeldet, mit einem Nettogewinn von 1.429.000 $ (0,36 $ pro Aktie), im Vergleich zu 1.161.000 $ (0,29 $ pro Aktie) im ersten Quartal 2024. Die Eigenkapitalrendite verbesserte sich von 9,95 % auf 11,31 % im Jahresvergleich.

Wichtige Finanzkennzahlen umfassen:

  • Der Nettozinsertrag stieg um 348.000 $ (7,7 %)
  • Die Betriebsausgaben sanken um 19.000 $ (0,5 %)
  • Die Gesamtaktiva beliefen sich auf 571 Millionen Dollar, gegenüber 592 Millionen Dollar im Jahr 2024
  • Die Quote der notleidenden Kredite liegt bei 0,32 %

Obwohl die Gesamtkredite aufgrund hoher Zinssätze und vorzeitiger Rückzahlungen um 24 Millionen Dollar (5,7 %) zurückgingen, hält die Tochtergesellschaft Commercial Bank eine starke Kapitalausstattung, die deutlich über den regulatorischen Anforderungen für eine "gut kapitalisierte" Bank liegt. Die risikobasierte Gesamtkapitalquote der Bank verbesserte sich von 15,81 % auf 17,18 % im Jahresvergleich.

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ITHACA, Mich., April 24, 2025 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) reported net income for the first quarter of 2025 of $1,429,000 or $0.36 per share compared to first quarter 2024 net income of $1,161,000 or $0.29 per share. Return on Equity (ROE) was 11.31% for the first quarter of 2025 compared to 9.95% for the first quarter of 2024.

Net interest income for the first quarter of 2025 increased by $348,000 or 7.7% compared to the respective 2024 period. Interest income decreased by $140,000, mainly due to a decrease in loan balances. Interest expense decreased by $488,000, as deposit rates were reduced following the federal funds rate cuts during the second half of 2024. Non-interest income decreased by $67,000 or 12.5%, primarily due to lower interchange income and other miscellaneous income. Operating expenses decreased by $19,000 or 0.5%.

Total assets were $571 million as of March 31, 2025 compared to $592 million as of March 31, 2024. The decrease in assets was due to the repayment of wholesale borrowings and trust preferred debt totaling $13 million, along with a 2.5% decrease in deposit balances. While total loans decreased by $24 million or 5.7% due to the high interest rate environment and early loan payoffs, loan quality remained strong with a non-performing assets ratio of 0.32%. Additionally, CEFC’s wholly owned subsidiary, Commercial Bank, remains significantly above “well capitalized� for regulatory purposes.

Visit to view the latest news releases and other information about CEFC and Commercial Bank.

Selected Financial Data (unaudited):
Quarter Ended
Mar 31, 2025Mar 31, 2024
Return on Equity (ROE)11.31%9.95%
Return on Assets (ROA)1.03%0.79%
Net Interest Margin3.68%3.25%
Mar 31, 2025Mar 31, 2024
Non-Performing Assets Ratio0.32%0.20%
Tier 1 Leverage Capital Ratio(1)10.45%9.70%
Total Risk-Based Capital Ratio(1)17.18%15.81%
Book Value Per Share$13.14$11.89
Market Value Per Share$10.50$9.15
(1) Ratios are for Commercial Bank
Consolidated Statements of Income (unaudited):
Quarter Ended
Mar 31, 2025Mar 31, 2024
Interest Income$6,475,293$6,615,474
Interest Expense1,635,2302,123,427
Net Interest Income4,840,0634,492,047
Provision for credit losses-40,000
Non-interest income469,946537,092
Operating Expenses3,576,2533,595,018
Income before taxes1,733,7561,394,121
Income tax expense304,475232,990
Net Income$1,429,281$1,161,131
Net Income per share–diluted$0.36$0.29
Dividends declared$0.14$0.14
Consolidated Balance Sheets (unaudited):
Mar 31, 2025Mar 31, 2024
Assets
Cash and cash equivalents$63,760,176$59,248,093
Time deposits with other banks1,743,0001,992,000
Securities83,490,14384,835,301
Loans390,575,608414,380,652
Allowance for credit losses(3,482,427)(3,609,455)
Loans, net387,093,181410,771,197
Premises and equipment, net9,901,5979,655,198
Other assets24,663,34225,205,622
Total Assets$570,651,439$591,707,411
Liabilities
Deposits$503,862,856$516,760,150
FHLB borrowings4,000,00014,000,000
Trust preferred7,310,00010,310,000
Other liabilities3,363,0073,490,066
Total Liabilities518,535,863544,560,216
Equity
Total Equity52,115,57647,147,195
Total Liabilities and Equity$570,651,439$591,707,411

Contact:
Benjamin Z. Ogle
CFO
989-875-5562


FAQ

What are CEFC's Q1 2025 earnings per share and how do they compare to Q1 2024?

CEFC reported earnings of $0.36 per share in Q1 2025, up from $0.29 per share in Q1 2024, representing a 24% increase.

How did CEFC's net interest income perform in Q1 2025?

Net interest income increased by $348,000 or 7.7% compared to Q1 2024, despite lower interest income, due to reduced deposit rates following federal funds rate cuts.

What caused the decrease in CEFC's total assets from Q1 2024 to Q1 2025?

Total assets decreased from $592M to $571M due to repayment of $13M in wholesale borrowings and trust preferred debt, along with a 2.5% decrease in deposit balances.

How strong is CEFC's loan quality as of Q1 2025?

CEFC maintains strong loan quality with a non-performing assets ratio of 0.32%, despite a 5.7% decrease in total loans.

What is CEFC's current Return on Equity (ROE) and how has it changed?

CEFC's ROE improved to 11.31% in Q1 2025 from 9.95% in Q1 2024, showing enhanced profitability.
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