PMHG
Prime Meridian Holding Company57.00
+0.00+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
192.34MP/E (TTM)
23.36Basic EPS (TTM)
2.44Dividend Yield
0.03%Recent Filings
10-Q
Q3 FY2024 results
Prime Meridian Holding Company posted solid Q3 2024 results, with net interest income climbing 10.5% year-over-year to $7.9 million on 11.9% higher average earning assets and a 52 basis point lift in yields, though the net interest margin dipped to 3.63% from 3.68% amid rising deposit costs up 101 basis points to 3.07%. Net earnings rose 22.8% to $2.6 million, or $0.78 diluted EPS, fueled by lower credit loss expense of $100,000 versus $175,000 last year and modest noninterest income gains from debit cards and mortgages. For the nine months, revenue held steady at $22.5 million net interest income but earnings fell 8.3% to $6.3 million, or $1.89 EPS, as expenses rose 8.9% on salaries and software costs post-core conversion. Deposits surged 10.1% to $824 million, bolstering cash to $96.5 million and FHLB availability to $123.8 million, while FHLB advances dropped to $10 million. Loans grew to $692.7 million, with nonperformers at a low 0.36%. Yet competition in Florida's community banking scene keeps pressure on margins.
8-K
Q3 earnings jump 47%
Prime Meridian Holding Company reported Q3 2024 net earnings of $2.6 million, up 46.7% from Q2 and 22.8% from last year, fueled by $7.9 million in net interest income and a sharp drop in credit loss expense to $100,000. Loans grew 6.2% to $692.7 million, deposits surged 10.1% to $824.0 million, and the efficiency ratio improved to 58.24%. Nonperforming assets dipped to 0.26% of total assets. Growth is solid.
8-K
Announces $5M buyback program
Prime Meridian Holding Company announced a $5,000,000 share repurchase program on September 23, 2024, targeting its common stock through open-market buys until December 31, 2024, or as adjusted by the board. Repurchases hinge on market conditions, liquidity needs, and economic factors, with no guaranteed volume. The company plans a Rule 10b5-1 trading plan to enable buys during blackout periods. This signals confidence in undervaluation, yet execution remains discretionary.
10-Q
Q2 FY2024 results
Prime Meridian Holding Company posted net earnings of $1.8M for Q2 ended June 30, 2024, down 21% y/y amid rising deposit costs that squeezed the net interest margin to 3.55% from 3.78%, even as loan interest income climbed 24% y/y to $10.6M on a 12% y/y average loan balance increase to $686M. Noninterest income edged up 14% y/y to $0.5M, buoyed by mortgage banking gains, while noninterest expense rose 14% y/y to $5.2M, driven by salaries and post-core conversion software costs. Liquidity strengthened with cash equivalents at $50.9M and $10M in FHLB advances, supporting 5.6% y/y deposit growth to $790M; free cash flow not disclosed in the 10-Q. EPS dipped to $0.54 from $0.71 y/y, consistent with 3.3M diluted shares. Yet competition in Florida's community banking scene keeps pressure on margins.
8-K
Q2 earnings dip on costs
Prime Meridian Holding Company posted Q2 net earnings of $1.8 million, or $0.54 per share, down 21% from last year amid rising deposit costs that squeezed the net interest margin to 3.55%. Loans swelled $38.3 million to $690.3 million, driven by residential and construction growth, while deposits climbed $41.7 million to $790.4 million, bolstering liquidity to 69.1% of deposits. Balance sheet stays clean. Yet charge-offs hit $803,000 on impaired commercial loans.
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