Date:  April 22, 2026
 

FOR IMMEDIATE RELEASE:

CONTACT:   330-364-7777
Matt A. Miller, President & CEO                                        Greg W. Dorris, Executive Vice President & CFO
mmiller@firstfed.com                                                       gdorris@firstfed.com
 
FFD Financial Corporation Reports Record Earnings For
Three- and Nine-Months Ended March 31, 2026
 
DOVER, OHIO - FFD Financial Corporation (OTC: FFDF), parent company of First Federal Community Bank, National Association, is pleased to report financial results for the three- and nine-months ended March 31, 2026.  (The following information is unaudited and subject to change).
 
Highlights:

• Net income was $4.0 million, or diluted earnings per share of $1.38 and $11.6 million, or diluted earnings per share of $4.01 for the three- and nine-months ended March 31, 2026, respectively.
• Return on average assets was 1.76% and 1.75% and return on average equity was 19.45% and 19.68% for three- and nine-months ended March 31, 2026, respectively.
• Total assets increased 10.1%, net loans increased 11.2%, and total deposits increased 7.2% since fiscal year end June 30, 2025.
• Current book value is $29.01 per share. Shareholders’ equity increased 15.4% since last fiscal year end June 30, 2025.  The closing share price on March 31, 2026 was $44.00 and represents a Price to Book trading ratio of 152%. The Price to Earnings multiple is 8.2 based upon the annualized nine-month earnings ending March 31, 2026.
• The bank continued to experience excellent credit quality as (i) delinquency as a percentage of total loans was 0.18%, (ii) non-performing assets as a percentage of total assets was 0.10%, (iii) net charge offs (recoveries) to total loans was 0.00%, (iv) and the bank’s Allowance for Credit Losses to Total Loans ratio was 0.99% for the period ending March 31, 2026.
• First Federal’s capital ratios exceeded regulatory guidelines for a well-capitalized financial institution under the Basel III regulatory requirements.

 
Income Statement Details:

• Net interest income before provision increased 20.5% and 21.2% from the comparable three- and nine-month period ending March 31, 2025, due to asset growth and improved net interest margin.
• Provision for Credit Losses totaled $308,000 and $754,000 for the three- and nine-month period ended March 31, 2026, primarily due to loan growth.
• Noninterest income increased by 22.1% and 9.2% compared to the comparable three- and nine-month period ending March 31, 2025.  Higher fee income was principally due to deposit account growth, additional Bank owned life insurance, and mortgage banking fee income as the bank sold more residential loans due to mix of loans originated. 
• Noninterest expenses increased 8.5% and 10.2% compared to the comparable three- and nine-month period ending March 31, 2025. The Bank’s compensation expense rose as expected, primarily due to wage inflation and additional hiring. Additionally, non-interest expense items were up due to new account growth and the new Canton, OH financial center location.

 
FFD Financial Corporation is a bank holding company for First Federal Community Bank, National Association. First Federal was named a Great Place to Work in December 2019 and has continued to be certified for 7 years. The bank also continues to maintain a Bauer Financial 5-Star Superior rating, denoting the highest level of strength, safety, and performance.  First Federal has eight full-service Ohio offices in Dover, New Philadelphia, Uhrichsville, Sugarcreek, Berlin, Mt. Hope, Canton and @ firstfed.com.
 

 

                     

FFD Financial Corporation

Condensed Consolidated Statements of Financial Condition

(In thousands)
(Unaudited)
 

			March 31,		June 30,
ASSETS			2026		2025		%Change
Cash and cash equivalents		$	87,238		81,052		7.6%
Investment securities available for sale			60,465		56,305		7.4%
Investment securities held to maturity			3,000		3,000		0.0%
Loans receivable, net			735,371		661,336		11.2%
Loans held for sale			585		274		113.5%
Other assets			47,844		47,035		1.7%
Total assets		$	934,503		849,002		10.1%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits		$	817,252		762,610		7.2%
Borrowings			25,000		5,000		400.0%
Other liabilities			8,062		8,454		-4.6%
Total liabilities			850,314		776,064		9.6%
Shareholders’ equity			84,189		72,938		15.4%
Total liabilities and shareholders’ equity		$	934,503		849,002		10.1%

 
 
 
Condensed Consolidated Statements of Income
(In thousands, except share data)
(Unaudited)
 

		Nine-months ended							Three-months ended
		March 31,							March 31,
		2026		2025		%Change				2026		2025		%Change
Interest and dividend income	$	36,235		32,671		10.9%		$		12,266		10,871		12.8%
Interest expense		11,479		12,252		-6.3%				3,886		3,918		-0.8%
Net interest income		24,756		20,419		21.2%				8,380		6,953		20.5%
Provision for credit losses		754		526		43.3%				308		199		54.8%
Net interest income after PCL		24,002		19,893		20.7%				8,072		6,754		19.5%
Noninterest income		3,007		2,754		9.2%				1,076		881		22.1%
Noninterest expense		12,859		11,666		10.2%				4,290		3,953		8.5%
Income before income taxes		14,150		10,981		28.9%				4,858		3,682		31.9%
Income tax expense		2,512		1,905		31.9%				846		609		38.9%
Net Income	$	11,638		9,076		28.2%		$		4,012		3,073		30.6%
Earnings per share
Basic	$	4.01		3.10				$		1.38		1.05
Diluted	$	4.01		3.09				$		1.38		1.05