Decrease in Non-Performing Assets
Non-performing assets decreased to $1.4 million as of March 31, 2025, down from $2.5 million on December 31, 2024.
Net Interest Margin Increase
Net interest margin increased by 11 basis points to 3.02% for the quarter ended March 31, 2025, compared to 2.91% for the previous quarter.
Recovery of Credit Losses
Recorded a $391,000 recovery of credit losses in the March 2025 quarter, primarily due to an improvement in SFR collateral qualitative factors and a lower balance of nonperforming loans.
Decrease in Allowance for Credit Losses
Allowance for credit losses to gross loans held for investment decreased by 4 basis points to 62 basis points at March 31, 2025, from 66 basis points at December 31, 2024.
Repurchase of Common Stock
Repurchased approximately 52,000 shares of common stock in the March 2025 quarter, totaling $3.1 million for fiscal year-to-date.