Wed, May 14, 4:42 PM (29 days ago)
**Magnolia Bancorp, Inc. (MNBL) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $410,000 (Q1 2024: $359,000) - **Net Income:** $(30,000) (Q1 2024: $(18,000)) - **Profit Margins:** Negative due to increased non-interest expenses. - **Cash Flow:** Net decrease of $(4.9) million in cash and cash equivalents. **Key Metrics:** - **Net Interest Income:** $329,000 (Q1 2024: $271,000) - **Non-Interest Income:** $9,000 (Q1 2024: $9,000) - **Non-Interest Expense:** $376,000 (Q1 2024: $303,000) - **Earnings per Share:** $(0.04) (Q1 2024: $0.00) **Quarterly Performance:** - **Loan Portfolio:** Increased by $0.2 million to $30.8 million. - **Deposits:** Total interest-bearing deposits decreased by $11.7 million to $16.2 million. - **Equity:** Increased by $6.2 million to $20.1 million due to conversion proceeds. **Trends & Uncertainties:** - **Interest Rates:** Federal Reserve rate cuts expected to reduce cost of funds. - **Loan Demand:** Increased demand for fixed-rate loans as market rates decline. - **Expenses:** Anticipated increase in non-interest expenses due to hiring and public company costs. **Future Operations:** - **Business Strategy:** Focus on residential mortgage loans, modest growth in commercial and multi-family real estate loans. - **Risk Management:** Maintain strong asset quality through conservative underwriting. - **Liquidity:** Strong liquidity position with sufficient funds to meet current commitments. **Regulatory & Fair Value:** - **Capital Ratios:** Well-capitalized under regulatory guidelines. - **Fair Value Measures:** Most assets and liabilities measured at fair value on a non-recurring basis. **Market Risk & Liquidity:** - **Interest Rate Risk:** Managed through capital levels, liquidity, and core deposit growth. - **Liquidity:** Strong position with daily monitoring and sufficient funds for commitments. **Commitments & Obligations:** - **Outstanding Commitments:** $1.8 million at March 31, 2025. - **Contractual Obligations:** $7.2 million in certificates of deposit maturing within 12 months. **Controls & Procedures:** - **Internal Controls:** Material weaknesses identified and remediation in progress. - **Legal Proceedings:** No pending legal proceedings expected to materially affect financial condition.