Business/Financial Results Form 8 K

Mercer Bancorp, Inc. Announces Year-End Financial Results

Celina, Ohio (December 18, 2024) - Mercer Bancorp, Inc. (OTCQB: MSBB) (the "Company"), the holding company for Mercer Savings Bank (the "Bank"), announced today net income of $730,000, or $0.77 per share, for the year ended September 30, 2024, compared to net income of $744,000 for the year ended September 30, 2023.

September 30, 2024 Year End Highlights:

•	Net income of $730,000, or $0.77 per diluted share, for the year ended September 30, 2024, compared to a net gain of $744,000 for the year ended September 30, 2023.

•	Total assets were $181.7 million, an increase of $22.7 million, or 14.3% from $159.0 million at September 30, 2023.

•	Net loans were $145.1 million, an increase of $15.1 million, or 11.6% from $130.0 million at September 30, 2023.

•	Total deposits were $134.6 million, an increase of $11.7 million, or 9.6% from $122.8 million at September 30, 2023.

Operating Results

Net income was $730,000 for the year ended September 30, 2024, compared to a net gain of $744,000 for the year ended September 30, 2023. Interest income increased $2.2 million, or 36.7%, to $8.2 million. Interest expense increased $1.9 million, or 317.7%, to $2.5 million. Net interest income before provision for loan losses was $5.7 million, an increase of $311,000, or 5.8% from $5.4 million at September 30, 3023. Noninterest expense increased $456,000, or 8.9% to $5.6 million. The increase was due primarily to a $317,000, or 14.5%, increase in salaries and employee benefits, a $187,000, or 183.9%, increase in loan expense, a $179,000, or 63.7%, increase in professional services, a $118,000, or 22.3%, increase in data processing fees, a $106,000, or 29.3%, increase in other expense, and a $53,000, or 11.7%, increase in occupancy and equipment, partially offset by a $607,000 decrease in charitable contributions.

Balance Sheet

Total assets were $181.7 million, an increase of $22.7 million, or 14.3% from $159.0 million at September 30, 2023. Total deposits increased $11.7 million, or 9.6%.

About Mercer Bancorp, Inc.

Mercer Bancorp (OTCQB: MSBB) became the holding company for Mercer Savings Bank, an Ohio-chartered bank, in July 2023 upon the completion of the Bank's mutual-to-stock conversion. The Bank was founded in 1888 and offers a full range of financial services to individuals and businesses from our four offices in western Ohio. Our primary market area includes Mercer and Darke Counties in western Ohio and contiguous areas, including Adams and Jay Counties in eastern Indiana.