WK KELLOGG INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of WK Kellogg Co
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-klg/ to learn more.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
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Muncy Columbia Financial Corporation Consolidated Statements of Income For the Three Months Ended For the Six Months Ended June 30, June 30, (In Thousands, Except Share and Per Share Data) (Unaudited) 2025 2024 2025 2024 INTEREST AND DIVIDEND INCOME Interest and fees on loans: Taxable $ 18,805 $ 17,741 $ 37,089 $ 34,997 Tax-exempt 420 332 818 685 Interest and dividends on investment securities: Taxable 1,311 1,020 2,408 2,181 Tax-exempt 860 836 1,720 1,666 Dividend and other interest income 165 204 333 427 Deposits in other banks 101 62 135 128 TOTAL INTEREST AND DIVIDEND INCOME 21,662 20,195 42,503 40,084 INTEREST EXPENSE Deposits 6,037 5,610 11,838 10,220 Short-term borrowings 252 1,427 795 3,924 Long-term borrowings 565 798 1,194 1,645 TOTAL INTEREST EXPENSE 6,854 7,835 13,827 15,789 NET INTEREST INCOME 14,808 12,360 28,676 24,295 PROVISION FOR CREDIT LOSSES 254 29 364 119 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 14,554 12,331 28,312 24,176 NON-INTEREST INCOME Service charges and fees 709 667 1,431 1,282 Interchange fees 673 687 1,296 1,306 Gain on sale of loans 71 93 154 169 Earnings on bank-owned life insurance 233 229 464 456 Brokerage 252 192 485 416 Trust 280 204 518 410 Gains (losses) on marketable equity securities 14 (38 ) (20 ) (155 ) Realized losses on available-for-sale debt securities, net (426 ) - (426 ) (8 ) Other non-interest income 431 385 780 1,075 TOTAL NON-INTEREST INCOME 2,237 2,419 4,682 4,951 NON-INTEREST EXPENSE Salaries and employee benefits 4,984 4,640 11,304 9,442 Occupancy 640 581 1,360 1,199 Furniture and equipment 460 384 886 790 Pennsylvania shares tax 301 230 602 440 Professional fees 414 319 862 776 Director's fees 165 105 318 239 Federal deposit insurance 217 188 435 408 Data processing and telecommunications 1,078 904 1,917 1,824 Automated teller machine and interchange 101 106 365 368 Merger-related expenses - 201 - 297 Amortization of intangibles 516 549 1,026 1,098 Other non-interest expense 980 987 1,872 1,959 TOTAL NON-INTEREST EXPENSE 9,856 9,194 20,947 18,840 INCOME BEFORE INCOME TAX PROVISION 6,935 5,556 12,047 10,287 INCOME TAX PROVISION 1,167 849 1,934 1,544 NET INCOME $ 5,768 $ 4,707 $ 10,113 $ 8,743 EARNINGS PER SHARE - BASIC AND DILUTED $ 1.63 $ 1.32 $ 2.86 $ 2.45 WEIGHTED AVERAGE SHARES OUTSTANDING 3,533,977 3,572,345 3,533,356 3,571,344 Expand At or 3 Months Ended (Unaudited) (Dollars in Thousands, Except Per Share Data) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Operating Highlights Net income $ 5,768 $ 4,345 $ 5,224 $ 5,056 $ 4,707 Net interest income 14,808 13,868 13,396 12,774 12,360 Provision for credit losses 254 110 567 151 29 Non-interest income 2,237 2,445 2,709 2,715 2,419 Non-interest expense 9,856 11,091 9,455 9,367 9,194 Balance Sheet Highlights Total assets $ 1,616,215 $ 1,602,336 $ 1,595,958 $ 1,607,322 $ 1,592,300 Loans, net and loans held for sale 1,149,624 1,135,981 1,117,770 1,105,421 1,092,057 Goodwill and other intangibles, net 34,653 35,164 35,656 36,202 36,760 Total deposits Noninterest-bearing $ 272,680 $ 273,783 $ 259,700 $ 269,515 $ 263,419 Savings 194,816 195,748 194,958 192,644 199,626 NOW 422,415 406,330 380,801 364,459 346,000 Money Market 104,677 103,759 108,263 112,319 117,770 Time Deposits 366,475 359,015 348,707 351,532 338,812 Total interest-bearing deposits 1,088,383 1,064,852 1,032,729 1,020,954 1,002,208 Core deposits* 994,588 979,620 943,722 938,937 926,815 Selected Ratios Fully tax-equivalent net interest margin 4.04 % 3.83 % 3.63 % 3.48 % 3.43 % Annualized return on average assets 1.44 % 1.10 % 1.30 % 1.26 % 1.20 % Annualized return on average equity 13.33 % 10.33 % 12.30 % 12.34 % 12.28 % Capital Ratios - Journey Bank** Common equity tier I capital ratio 15.35 % 15.13 % 15.06 % 14.59 % 14.06 % Tier 1 capital ratio 15.35 % 15.13 % 15.06 % 14.59 % 14.06 % Total risk-based capital ratio 16.34 % 16.13 % 16.03 % 15.54 % 14.99 % Leverage ratio 9.43 % 9.30 % 9.10 % 8.82 % 8.68 % Asset Quality Ratios Non-performing assets $ 13,844 $ 12,300 $ 10,117 $ 8,575 $ 7,736 Allowance for credit losses - loans 10,167 9,985 9,858 9,415 9,362 Allowance for credit losses to total loans 0.88 % 0.87 % 0.88 % 0.85 % 0.85 % Non-performing assets to total assets 0.86 % 0.77 % 0.63 % 0.53 % 0.49 % Per Share Data Earnings per share $ 1.63 $ 1.23 $ 1.47 $ 1.42 $ 1.32 Dividend declared per share*** 0.95 0.45 0.44 0.44 0.44 Book value 49.87 48.50 47.11 47.35 44.11 Common stock price: Bid $ 47.25 $ 40.25 $ 41.88 $ 33.35 $ 32.10 Ask 49.05 42.00 42.88 34.25 34.75 Weighted average common shares 3,533,977 3,532,727 3,555,920 3,574,043 3,572,345 * Core deposits are defined as total deposits less time deposits ** Capital ratios for the most recent period are estimated *** Includes special one-time cash dividend of $0.50 per share for the three months ended 6/30/2025 Expand
