William Penn Bancorp reports Q4 EPS (2c) vs. 0c last year

Reports Q4 tangible book value per share $12.78. Kenneth Stephon, William Penn’s chairman, president, and CEO, stated, “The current interest rate environment remains challenging for community banks with respect to profitability. Notwithstanding, our net interest margin expanded by ten basis points on a linked-quarter basis to 2.25%, signifying a possible inflection point in the current cycle while achieving net deposit inflows of $4.0 million during the quarter. As we continue to face this difficult revenue environment, we continue to hold the line on noninterest expenses, which were down by 2.2% on a linked-quarter basis and 5.3% year over year. We also continue to post strong credit quality metrics, with a non-performing assets to total assets ratio of 0.40% as of June 30, 2024 and net recoveries for the quarter and year ended June 30, 2024.”