FFW Corporation Announces Earnings for the Fiscal Year Ended June 30, 2025

WABASH, Ind., Aug. 25, 2025 (GLOBE NEWSWIRE) -- FFW Corporation (the “Corporation”) (OTC PINK: FFWC) (8/22/25 Close: $41.00), parent corporation of Crossroads Bank (the “Bank”), announced earnings for the fiscal year ended June 30, 2025.

For the three months ended June 30, 2025, the Corporation reported net income of $1,461,000 or $1.35 per common share compared to $1,118,000 or $0.99 per common share for the three months ended June 30, 2024. Net interest income for the three months ended June 30, 2025 was $4,385,000 compared to $3,664,000 for the three months ended June 30, 2024. Credit loss expense was $75,000 for the three months ended June 30, 2025 and $0 for the three months ended June 30, 2024. Total noninterest income was $1,221,000 for the three months ended June 30, 2025 compared to $1,137,000 for the three months ended June 30, 2024. Noninterest expense was $3,906,000 for the three months ended June 30, 2025 and $3,641,000 for the three months ended June 30, 2024.

For the twelve months ended June 30, 2025, the Corporation reported net income of $5,542,000 or $5.01 per common share compared to $4,089,000 or $3.63 per common share for the twelve months ended June 30, 2024. Net interest income for the twelve months ended June 30, 2025 was $16,279,000 compared to $14,477,000 for the twelve months ended June 30, 2024. The Company recognized credit loss expense of $200,000 for the twelve months ended June 30, 2025 and $0 for the twelve months ended June 30, 2024. Total noninterest income was $5,070,000 for the twelve months ended June 30, 2025 compared to $4,144,000 for the twelve months ended June 30, 2024. Noninterest expense was $15,006,000 for the twelve months ended June 30, 2025 and $14,225,000 for the twelve months ended June 30, 2024.

The three and twelve months ended June 30, 2025 represented a return on average common equity of 11.77% and 11.10%, respectively, compared to 9.41% and 8.78% for the three and twelve month periods ended June 30, 2024. The three and twelve months ended June 30, 2025 represented a return on average assets of 1.03% and 0.97%, respectively, compared to 0.80% and 0.74% for the three and twelve month periods ended June 30, 2024.

The allowance for credit losses as a percentage of gross loans receivable was 1.35% at June 30, 2025 compared to 1.33% at June 30, 2024. Nonperforming assets were $8,147,000 at June 30, 2025 compared to $4,044,000 at June 30, 2024.

As of June 30, 2025, FFWC’s equity-to-assets ratio was 8.76% compared to 8.55% at June 30, 2024. Total assets at June 30, 2025 were $570,108,000 compared to $567,363,000 at June 30, 2024. Shareholders’ equity was $49,944,000 at June 30, 2025 compared to $48,515,000 at June 30, 2024. Crossroads Bank exceeds all applicable regulatory requirements to be considered “well capitalized.”

The Corporation has an active share repurchase program. During the quarter ended June 30, 2025, the Corporation repurchased 3,303 shares at an average price of $39.70. Year to date the Corporation repurchased 56,481 shares at an average price of $39.42. For more information regarding the share repurchase program, please contact Roger Cromer, President, at (260) 563-3185. The Corporation may suspend or discontinue repurchases at any time.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include expressions such as “expects,” “intends,” “believes,” and “should,” which are necessarily statements of belief as to the expected outcomes of future events. Actual results could materially differ from those presented. The Corporation's ability to predict future results involves a number of risks and uncertainties. The Corporation undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.

Crossroads Bank is a wholly owned subsidiary of FFW Corporation providing an extensive array of banking services and a wide range of investments and securities products through its main office in Wabash and six Indiana banking centers located in Columbia City, North Manchester, Peru, South Whitley, Syracuse and Warsaw. The Bank also provides leasing services at each of its banking centers. Insurance products are offered through an affiliated company, Insurance 1 Services, Inc. The Corporation’s stock is traded on the OTC Markets under the symbol “FFWC.” Our website address is www.crossroadsbanking.com. Crossroads Bank, Member FDIC.

FFW CorporationSelected Financial Information Consolidated Balance Sheet June 30June 30 20252024 Unaudited Assets Cash and due from financial institutions$7,166,023 $5,202,224 Interest-bearing deposits in other financial institutions 3,649,597 11,717,782 Cash and cash equivalents 10,815,620 16,920,006 Securities available for sale 103,067,093 106,179,450 Loans held for sale 314,800 559,830 Loans receivable, net of allowance for credit losses of $5,703,128 at June 30, 2024 and $5,564,436 at June 30, 2024 422,829,649 411,841,368 Federal Home Loan Bank stock, at cost 1,739,500 1,289,700 Accrued interest receivable 3,055,402 3,016,660 Premises and equipment, net 7,602,679 7,614,589 Mortgage servicing rights 1,072,056 1,086,587 Cash surrender value of life insurance 13,165,670 12,725,890 Goodwill 1,213,898 1,213,898 Repossessed Assets 38,560 1,250 Other assets 5,192,615 4,913,693 Total assets$570,107,542 $567,362,921 Liabilities and shareholders' equity Deposits Noninterest-bearing$52,521,124 $47,530,618 Interest-bearing 453,607,241 466,891,628 Total deposits 506,128,365 514,422,246 Borrowings 10,000,000 - Accrued expenses and other liabilities 4,035,448 4,425,736 Total liabilities 520,163,813 518,847,982 Shareholders' equity Common stock, $.01 par; 2,000,000 shares authorized; Issued: 1,836,328; outstanding: 1,082,978 at June 30, 2025 and 1,126,243 at June 30, 2024 18,363 18,363 Additional paid-in capital 10,233,608 10,266,257 Retained earnings 65,911,649 61,694,919 Accumulated other comprehensive income (loss) (11,560,272) (10,795,929)Treasury stock, at cost: 753,350 at June 30, 2025 and 710,085 at June 30, 2024 (14,659,619) (12,668,671) Total shareholders' equity 49,943,729 48,514,939 Total liabilities and shareholders' equity$570,107,542 $567,362,921

FFW CorporationSelected Financial Information Consolidated Statement of Income Three Months Ended June 30Twelve Months Ended June 30 2025202420252024 UnauditedUnauditedUnauditedUnauditedInterest and dividend income: Loans, including fees$5,985,759 $5,561,214 $23,183,812 $21,249,360 Taxable securities 563,907 538,577 2,187,692 2,031,617 Tax exempt securities 402,708 406,253 1,625,823 1,656,939 Other 78,596 119,404 564,219 309,304 Total interest and dividend income 7,030,970 6,625,448 27,561,546 25,247,220 Interest expense: Deposits 2,469,399 2,933,414 11,078,011 10,613,939 Borrowings 176,469 27,627 204,282 155,984 Total interest expense 2,645,869 2,961,041 11,282,293 10,769,923 Net interest income 4,385,101 3,664,407 16,279,253 14,477,297 Provision for credit losses 75,000 - 200,000 - Net interest income after provision for 4,310,101 3,664,407 16,079,253 14,477,297 credit losses Noninterest income: Net gains on sales of loans 181,575 113,780 480,176 185,535 Net gains (losses) on fixed assets (4,080) - 31,157 - Net gains (losses) on sales of REO - - (684) (37,006) Commission income 463,212 395,409 1,993,376 1,429,640 Service charges and fees 157,836 219,733 868,973 998,995 Earnings on life insurance 111,555 106,082 439,780 389,414 Other 311,304 302,374 1,257,347 1,177,332 Total noninterest income 1,221,401 1,137,378 5,070,125 4,143,910 Noninterest expense: Salaries and benefits 2,035,089 1,990,109 8,098,744 7,716,276 Occupancy and equipment 333,493 320,824 1,300,038 1,270,996 Professional 164,980 122,245 628,721 482,039 Marketing 102,924 96,753 381,332 378,547 Deposit insurance premium 102,000 73,000 348,684 280,666 Regulatory assessment 11,569 10,344 42,772 41,379 Correspondent bank charges 26,413 23,388 107,687 93,273 Data processing 584,862 482,683 2,141,131 1,866,798 Printing, postage and supplies 74,354 65,701 300,465 285,133 Expense on life insurance 27,665 41,149 7,776 129,934 Contribution expense 7,500 9,501 44,888 50,382 Expense on REO - (139) - 5,683 Other 434,848 405,714 1,603,446 1,623,675 Total noninterest expense 3,905,699 3,641,272 15,005,684 14,224,781 Income before income taxes 1,625,803 1,160,513 6,143,694 4,396,426 Income tax expense 165,144 42,948 601,954 306,949 Net income$1,460,659 $1,117,565 $5,541,740 $4,089,477

FFW CorporationSelected Financial Information Key Balances and Ratios Three Months Ended June 30Twelve Months Ended June 30 2025 20242025 2024 UnauditedUnauditedUnauditedUnauditedPer common share data: Earnings$1.35 $0.99 $5.01 $3.63 Diluted earnings$1.35 $0.99 $5.01 $3.63 Dividends paid$0.30 $0.29 $1.20 $1.16 Average shares issued and outstanding1,083,793 1,126,520 1,106,967 1,126,879 Shares outstanding end of period1,082,978 1,126,243 1,082,978 1,126,243 Supplemental data: Net interest margin **3.16%2.66%2.92%2.69%Return on average assets ***1.03%0.80%0.97%0.74%Return on average common equity ***11.77%9.41%11.10%8.78% June 30June 30 2025 2024 Nonperforming assets *$8,147,342 $4,044,082 Repossessed assets$38,560 $1,250 * Includes non-accruing loans, accruing loans delinquent more than 90 days and repossessed assets ** Yields reflected have not been computed on a tax equivalent basis *** Annualized

FOR MORE INFORMATION Contact: Stacy Wiley, Treasurer, at (260) 563-3185