$MSBB

Mercer Bancorp, Inc.

CIK:0001967306|SEC Filings

Consolidated Statements of Income - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2026	Mar. 31, 2025
Interest Income
Loans	$ 2,231,741	$ 2,153,054	$ 4,424,154	$ 4,323,346
Investment securities	85,631	84,748	169,167	170,715
Interest-bearing deposits and other	55,314	70,953	119,271	148,351
Total interest income	2,372,686	2,308,755	4,712,592	4,642,412
Interest Expense
Deposits	541,853	411,608	1,092,240	874,794
Federal Home Loan Bank advances	10,307	246,540	52,540	523,726
Total interest expense	552,160	658,148	1,144,780	1,398,520
Net Interest Income	1,820,526	1,650,607	3,567,812	3,243,892
Provision for Credit Losses	15,000	28,000	15,000	28,000
Net Interest Income After Provision for Credit Losses	1,805,526	1,622,607	3,552,812	3,215,892
Noninterest Income
Service fees on deposits	60,905	68,797	123,820	148,151
Late charges and fees on loans	39,016	26,960	79,026	62,613
Gain on sale of loans	3,037	6,984	3,037	12,152
Loan servicing fees	6,951	11,311	14,237	20,910
Loss on sale of investments	0	0	(12,088)	0
Gain on sale of foreclosed assets	6,833	6,982	7,361	6,982
Bank owned life insurance	12,037	16,335	24,243	32,905
Other income	4,467	4,828	8,384	10,192
Total noninterest income	133,246	142,197	248,020	293,905
Noninterest Expense
Salaries and employee benefits	810,793	614,051	1,569,892	1,241,579
Directors fees	22,800	19,200	45,600	38,400
Occupancy and equipment	168,512	135,302	337,483	257,743
Data processing fees	151,304	367,797	348,784	547,375
Franchise taxes	37,812	40,260	71,852	72,037
FDIC insurance premiums	19,405	20,306	38,241	41,330
Professional services	122,788	181,608	269,109	286,178
Deposit account services expense	32,682	73,268	69,157	147,041
Advertising	19,103	18,810	47,261	42,805
Loan expenses	70,625	76,737	131,033	158,281
Other	147,504	174,199	328,206	288,334
Total noninterest expense	1,603,328	1,721,538	3,256,618	3,121,103
Income before income taxes	335,444	43,266	544,214	388,694
Provision for income taxes	63,305	7,899	100,805	77,019
Net Income	$ 272,139	$ 35,367	$ 443,409	$ 311,675
Earnings per share - basic	$ 0.28	$ 0.04	$ 0.45	$ 0.33
Earnings per share - diluted	$ 0.28	$ 0.04	$ 0.45	$ 0.33

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Operating Activities
Net income	$ 443,409	$ 311,675
Adjustments to reconcile net income to net cash provided (used ) in operating activities:
Depreciation and amortization	231,801	87,653
Amortization of premiums and discounts	(2,191)	6,356
Amortization of deferred loan fees	(54,626)	(19,041)
Deferred income taxes	(474)	23,360
Provision for credit losses	15,000	28,000
ESOP compensation expense	86,300	68,538
Gain on sale of loans	(3,037)	(12,152)
Proceeds from sales of loans	175,721	520,183
Loans originated for sale	(175,000)	(665,448)
Loss on sale of investments	12,088	0
Gain on sale of foreclosed assets	(7,361)	(6,982)
Increase in cash surrender value of bank-owned life insurance	(24,243)	(23,404)
Share based compensation	60,333	0
Changes in:
Accrued interest receivable	39,021	8,491
Other assets	193,681	(204,474)
Other liabilities	(268,505)	(19,640)
Net cash provided by (used in) operating activities	721,917	103,115
Investing Activities
Purchases of available-for-sale securities	(2,266,933)	(277,432)
Proceeds from sales of available-for-sale securites	2,058,697	0
Proceeds from calls, maturities and paydowns of available-for-sale securities	282,918	1,309,964
Principal repayments on securities held-to-maturity	7,130	14,452
Net change in loans	2,243,107	1,769,425
Purchase of premises and equipment	(152,455)	(1,073,812)
Purchases of FHLB stock	0	(80,100)
Proceeds from redemption of FHLB stock	286,600	0
Proceeds from sale of foreclosed assets	76,255	54,300
Net cash provided (used in) investing activities	2,535,319	1,716,797
Financing Activities
Net increase (decrease) in deposits	2,566,236	4,232,288
Proceeds from FHLB advances - short term	0	41,000,000
Repayment of FHLB advances - short term	(5,000,000)	(46,000,000)
Repurchase of common stock	(235,040)	(240,127)
Net used in financing activities	(2,668,804)	(1,007,839)
(Decrease) Increase in Cash and Cash Equivalents	588,432	812,073
Cash and Cash Equivalents, Beginning of Period	5,363,187	5,897,596
Cash and Cash Equivalents, End of Period	5,951,619	6,709,669
Supplemental Disclosure of Cash Flow Information
Interest on deposits and borrowings	1,114,603	1,312,038
Income taxes	0	300,000
Supplemental Disclosure of Noncash Investing Activities
Transfers from loans to foreclosed assets	$ 156,059	$ 47,318

Consolidated Balance Sheets - USD ($)	Mar. 31, 2026	Sep. 30, 2025
Assets
Cash and due from banks	$ 2,600,454	$ 2,576,165
Interest-bearing deposits in other financial institutions	2,229,165	713,022
Federal funds sold	1,122,000	2,074,000
Cash and cash equivalents	5,951,619	5,363,187
Interest-bearing time deposits	100,000	100,000
Available-for-sale securities, at fair value	9,726,039	9,656,114
Held-to-maturity securities, at amortized cost	60,210	67,723
Loans held for sale	6,146,205	8,051,398
Loans receivable	142,711,469	143,257,565
Allowance for credit losses	(866,241)	(960,307)
Net loans	141,845,228	142,297,258
Premises and equipment	5,078,211	5,151,721
Federal Home Loan Bank stock	921,500	1,208,100
Bank owned life insurance	1,900,697	1,876,454
Accrued interest receivable	639,336	678,357
Federal Home Loan Bank lender risk account	421,737	434,749
Deferred federal income taxes	201,657	233,548
Other assets	943,294	1,053,048
Total assets	173,935,733	176,171,657
Deposits
Demand - non interest bearing	14,070,495	14,720,941
Demand - interest bearing	50,025,078	43,738,535
Savings and money market	34,448,299	35,242,936
Time	48,010,393	50,285,617
Total deposits	146,554,265	143,988,029
Advances from the Federal Home Loan Bank	1,000,000	6,000,000
Directors plan liability	349,560	370,729
Accrued interest payable and other liabilities	931,811	1,189,561
Total liabilities	148,835,636	151,548,319
Commitments and Contingencies
Shareholders' Equity
Preferred stock - authorized 1,000,000 shares of $0.01 par value, none issued	0	0
Common stock - authorized 9,000,000 shares of $0.01 par value, issued and outstanding 1,026,135 and 1,027,477 shares at December 31, 2025 and September 30, 2025, respectively	9,818	9,959
Additional paid-in capital	8,225,708	8,368,876
Shares acquired by ESOP	(654,367)	(709,269)
Shares issued to irrevocable trust	96,360	96,360
Shares held in irrevocable trust	(96,360)	(96,360)
Retained earnings	17,787,027	17,343,618
Accumulated other comprehensive loss	(268,089)	(389,846)
Total shareholders' equity	25,100,097	24,623,338
Total liabilities and shareholders' equity	$ 173,935,733	$ 176,171,657