Loading...
•
Mar 31, 2022
William Penn Bancorp Q3 2022 Earnings Report
Net income decreased compared to the same quarter last year, but net interest income increased due to improved asset mix and growth in core deposits.
Key Takeaways
William Penn Bancorp reported a net income of $824 thousand, or $0.06 per basic and diluted share, for the third quarter ended March 31, 2022. The company made progress on strategic priorities, including sound balance sheet management and prudent capital management, benefiting shareholders.
Net income was $824 thousand, or $0.06 per share.
Core net income was $1.1 million, or $0.07 per share.
Core deposits increased by 13.4% during the third quarter.
Net interest margin expanded by six basis points sequentially from the prior quarter.
William Penn Bancorp
William Penn Bancorp
Forward Guidance
The company will remain focused on organic growth, payment of a sustainable cash dividend, and the opportunistic buyback of stock in an effort to deliver maximum value to shareholders.