Commercial National Financial Corporation Reports 4th Quarter 2025 Results
ITHACA, Mich., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (OTCID: CEFC) reported net income for the fourth quarter of 2025 of $1,784,000 or $0.45 per share compared to fourth quarter 2024 net income of $1,882,000 or $0.47 per share. Return on Equity was 12.64% for the fourth quarter of 2025 compared to 14.73% for the fourth quarter of 2024.
Net interest income for the fourth quarter of 2025 increased by $320,000 or 6.5% compared to the respective 2024 period. Interest income decreased by $196,000, mainly due to a decrease in loans. Interest expense decreased by $516,000, mainly due to a decrease in funding costs. Non-interest income decreased by $218,000, while operating expenses increased by $150,000, which was mainly due to higher wages and benefits expense.
Total assets were $554 million as of December 31, 2025 compared to $567 million as of December 31, 2024. Total deposits decreased by $27 million, which consisted of a decrease of $15 million in core deposits and $12 million in brokered deposits, which were replaced with borrowings from the Federal Home Loan Bank. While total loans decreased by $24 million or 6.1% due to the high interest rate environment and early loan payoffs, loan quality remained strong with a non-performing assets ratio of 0.17%. Additionally, CEFC's wholly owned subsidiary, Commercial Bank, remains "well capitalized" for regulatory purposes.
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Selected Financial Data (unaudited):
Quarter Ended
Year to Date
Dec 31, 2025
Dec 31, 2024
Dec 31, 2025
Dec 31, 2024
Return on Equity
12.64
%
14.73
%
12.44
%
12.04
%
Return on Assets
1.28
%
1.31
%
1.19
%
1.02
%
Net Interest Margin
4.04
%
3.66
%
3.87
%
3.44
%
Dec 31, 2025
Dec 31, 2024
Non-Performing Assets Ratio
0.17
%
0.28
%
Tier 1 Leverage Capital Ratio(1)
10.88
%
10.32
%
Total Risk-Based Capital Ratio(1)
18.30
%
16.99
%
Book Value Per Share
$
14.30
$
12.74
Market Value Per Share
$
13.65
$
9.85
(1) Ratios are for Commercial Bank
Consolidated Statements of Income (unaudited):
Quarter Ended
Year to Date
Dec 31, 2025
Dec 31, 2024
Dec 31, 2025
Dec 31, 2024
Interest Income
$
6,496,798
$
6,692,617
$
26,081,644
$
26,762,188
Interest Expense