Executive Summary

Net income rose to $5.4M and EPS to $1.66, driven by stronger net interest income and segment profitability; consolidated net interest margin ticked up to 4.16% from 4.13% in Q4 and 4.09% YoY .
Community banking delivered robust loan and deposit growth; mortgage originations increased 20.6% YoY, while consumer finance posted positive earnings amid elevated charge-offs; management struck an optimistic tone for 2025 .
The quarterly cash dividend was raised 5% to $0.46, signaling confidence; no buybacks in Q1 under the $5M 2025 repurchase authorization .
Liquidity and capital remained solid (uninsured deposits 29.1% of total, liquid assets + borrowing capacity exceed uninsured by $417.1M; CET1 10.8%, Tier 1 leverage 9.9%), helping mitigate asset quality normalization (community bank nonaccruals increased) .
Street consensus coverage appears limited; neither EPS nor revenue consensus was available for Q1, so estimate comparisons are not meaningful this quarter .

What Went Well and What Went Wrong

What Went Well
- Broad-based profit improvement: “Net income increased across all of our business segments compared to the same quarter last year” .
- Margin tailwinds: NIM rose to 4.16% as higher-cost time deposits continued repricing downward, lifting net interest income .
- Mortgage momentum: Originations rose 20.6% YoY to $113.8M; gains on sale and fee income supported higher mortgage segment net income .
What Went Wrong
- Asset quality normalization: Community bank nonaccrual loans rose to $1.189M from $333K due to a downgraded residential mortgage relationship .
- Consumer finance credit costs: Net charge-offs ran at a 2.64% annualized rate vs. 2.54% YoY, reflecting higher delinquencies, repossessions and average charge-off amounts .
- Noninterest income mixed: “Other” noninterest income was lower YoY ($5.726M vs. $6.204M), partially offsetting revenue gains .

Metric	Q1 2024	Q4 2024	Q1 2025
Revenue ($USD Millions)	$30.65	$32.05	$32.58
Diluted EPS ($)	$1.01	$1.87	$1.66
Net Interest Margin (%)	4.09%	4.13%	4.16%

Notes: Revenue computed as Net Interest Income (GAAP) + Gains on Sales of Loans + Other Noninterest Income, per reported results .

Segment Net Income ($USD Millions)

Segment	Q1 2024	Q4 2024	Q1 2025
Community Banking	$4.012	$6.364	$5.445
Mortgage Banking	$0.294	$0.087	$0.431
Consumer Finance	$(0.063)	$0.272	$0.226
Other	$(0.808)	$(0.694)	$(0.707)
Total	$3.435	$6.029	$5.395

KPIs and Asset Quality

KPI	Q1 2024	Q4 2024	Q1 2025
Loans (Community Banking) ($MM)	$1,324.7	$1,436.2	$1,463.7
Loans (Consumer Finance) ($MM)	$452.5	$444.1	$439.6
Deposits ($MM)	$2,087.9	$2,170.9	$2,216.7
Mortgage Originations ($MM)	$94.3	$130.4	$113.8
Provision for Credit Losses – CB ($MM)	$0.5	$0.0	$0.1
Provision for Credit Losses – CF ($MM)	$3.0	$3.5	$2.9
CF Net Charge-offs (Annualized, %)	2.54%	2.62%	2.64%
CB Nonaccrual Loans ($MM)	—	$0.333	$1.189
Liquidity: Uninsured Deposits (% of Total)	—	29.5%	29.1%
Liquidity Coverage (Liquid Assets + Borrowing Availability > Uninsured ex muni/interco) ($MM)	—	$439.1	$417.1
CET1 / Tier 1 Leverage (Corp.) (%)	—	10.7% / 9.8%	10.8% / 9.9%

Metric	Period	Previous Guidance	Current Guidance	Change
Dividend per Share	Q1 2025	$0.44/quarter	$0.46/quarter (payable Apr 1, 2025)	Raised
Share Repurchase Authorization	CY 2025	$5.0M authorized (Dec 2024)	$5.0M authorized; no Q1 repurchases	Maintained
Revenue/Margins/Tax/OpEx	Q1 2025	Not provided	Not provided	Maintained (no formal guidance)

(Company did not publish a transcript in the available document catalog; themes reflect management commentary from press releases.)

Topic	Previous Mentions (Q3 2024)	Previous Mentions (Q4 2024)	Current Period (Q1 2025)	Trend
Net Interest Margin	Relatively flat vs Q2; 4.13% in Q3	Stabilized in Q4; 4.13%	Up to 4.16%	Improving modestly
Deposit Mix/Cost of Funds	Time deposit mix elevated; higher costs	Competition for deposits, higher rates	Costs still elevated, repricing downward aiding margin	Easing
Mortgage Originations	$157.0M; seasonal lift	$130.4M; YoY improvement	$113.8M; +20.6% YoY, -12.8% QoQ	Normal seasonal decline QoQ, YoY higher
Consumer Finance Credit	Delinquencies/charge-offs up; NCOs 2.36% YTD	NCOs 2.62% FY; elevated	NCOs 2.64% annualized; delinquencies 3.05%	Slightly worse YoY, down vs Dec delinquency
Capital/Dividends	Well-capitalized; dividend $0.44	Well-capitalized; dividend $0.44	Well-capitalized; dividend raised to $0.46	Strength maintained

“We are pleased with our first quarter results. Net income increased across all of our business segments compared to the same quarter last year… Consolidated margins grew slightly as higher cost time deposits continue to reprice downward. Despite the economic uncertainties, we are optimistic about our earnings for 2025.” — Tom Cherry, President & CEO .

Not available; no published Q1 2025 earnings call transcript was located via public sources (press release and filings only) .

Wall Street consensus (S&P Global) for Q1 2025 appeared unavailable: EPS consensus N/A; Revenue consensus N/A; # of estimates N/A*.
Actual EPS: $1.66 . Actual revenue: $32.58M (Net interest income + gains on sale + other noninterest) .

Values retrieved from S&P Global.*

Core earnings quality improved: higher net interest income and margin expansion to 4.16% underpin EPS strength; watch if deposit costs keep easing as CDs reprice .
Community banking growth remains a pillar: loans +$27.6M QoQ and deposits +$45.8M QoQ provide balance-sheet support for 2025, albeit with rising nonaccruals to $1.189M .
Mortgage segment is a swing factor: origination strength vs. last year helps fee income; seasonal moderation vs. Q4 is typical .
Consumer finance credit is the key risk: NCOs at 2.64% annualized and elevated delinquency underscore sensitivity to macro and used-auto pricing; provision trended slightly lower vs. Q4 .
Capital and liquidity provide resilience: CET1 10.8%, Tier 1 leverage 9.9%, coverage of uninsured deposits by liquid assets plus borrow capacity remains ample .
Shareholder return signals: 5% dividend increase to $0.46 and an authorized $5M buyback (no Q1 repurchases) can support total return as fundamentals normalize .
Near-term trading lens: thin consensus coverage may dampen estimate-revision catalysts; price reaction likely tied to margin trajectory, credit trends, and capital deployment updates (dividends/buybacks) .

Q1 2025 Form 8-K and Exhibit 99.1 press release (financials, segment metrics, capital, liquidity) .
Q1 2025 press release (GLOBE NEWSWIRE) .
Dividend increase press release (Feb 20, 2025) .
Prior quarters: Q4 2024 8-K ; Q3 2024 8-K .
MarketBeat coverage summary (no transcript link) .