Mercer Bancorp Files 2024 10-K

TL;DR

Mercer Bancorp's 2024 10-K is in. Check financials for savings institution.

AI Summary

Mercer Bancorp, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The filing details its financial performance and business operations as a savings institution. Key financial data and disclosures related to its stock, additional paid-in capital, and other equity components are presented for the fiscal years 2023 and 2024.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Mercer Bancorp's financial health and strategic positioning for the fiscal year 2024.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 0930 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
• 2024 — Fiscal Year (The year for which the 10-K report is filed.)

Key Players & Entities

• Mercer Bancorp, Inc. (company) — Filer of the 10-K
• 2024-09-30 (date) — Fiscal year end
• 2025-01-14 (date) — Filing date
• Celina, OH (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.01 — (g) of the Act: Common Stock, par value $0.01 per share Indicate by check mark if th
• $9.7 m — ing offering expenses) of approximately $9.7 million, based on the offering price of $
• $10.00 — million, based on the offering price of $10.00 per share. The Company also contributed
• $100,000 — buted 50,000 shares of common stock and $100,000 in cash to the Mercer Savings Charitabl
• $181.7 m — ompany had consolidated total assets of $181.7 million, total deposits of $134.6 million
• $134.6 million — ts of $181.7 million, total deposits of $134.6 million and stockholders' equity of $24.0 milli
• $24.0 million — 4.6 million and stockholders' equity of $24.0 million. Since its incorporation, Mercer Bancor
• $68,692 — timated 2024 median household income is $68,692 for Mercer County and $64,500 for Darke
• $64,500 — income is $68,692 for Mercer County and $64,500 for Darke County, compared to $62,262 s
• $62,262 — d $64,500 for Darke County, compared to $62,262 statewide and $69,244 nationwide. Estim
• $69,244 — unty, compared to $62,262 statewide and $69,244 nationwide. Estimated 2024 median house
• $88,000 — timated 2024 median household income is $88,000 for Adams County and $50,900 for Jay Co
• $50,900 — income is $88,000 for Adams County and $50,900 for Jay County. The September 2024 unem
• $4.7 m — lending program. At September 30, 2024, $4.7 million, or 3.2% of our total loan portfo
• $10.5 million — for investment and we had an additional $10.5 million of automobile loans held for sale. 4

Filing Documents

• tmb-20240930x10k.htm (10-K) — 4787KB
• tmb-20240930xex19.htm (EX-19) — 69KB
• tmb-20240930xex31d1.htm (EX-31.1) — 14KB
• tmb-20240930xex31d2.htm (EX-31.2) — 14KB
• tmb-20240930xex32.htm (EX-32) — 9KB
• tmb-20240930x10k009.jpg (GRAPHIC) — 2KB
• tmb-20240930x10k010.jpg (GRAPHIC) — 9KB
• tmb-20240930x10k011.jpg (GRAPHIC) — 8KB
• tmb-20240930xex19002.jpg (GRAPHIC) — 1KB
• 0001558370-25-000202.txt ( ) — 19666KB
• tmb-20240930.xsd (EX-101.SCH) — 64KB
• tmb-20240930_cal.xml (EX-101.CAL) — 117KB
• tmb-20240930_def.xml (EX-101.DEF) — 289KB
• tmb-20240930_lab.xml (EX-101.LAB) — 698KB
• tmb-20240930_pre.xml (EX-101.PRE) — 568KB
• tmb-20240930x10k_htm.xml (XML) — 5112KB

Business

Item 1. Business 1

Risk Factors

Item 1A. Risk Factors 28

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 28

Cybersecurity

Item 1C. Cybersecurity 28

Properties

Item 2. Properties 30

Legal Proceedings

Item 3. Legal Proceedings 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31

[Reserved]

Item 6. [Reserved] 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 42

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 43

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 43

Controls and Procedures

Item 9A. Controls and Procedures 43

Other Information

Item 9B. Other Information 44

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 44 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 45

Executive Compensation

Item 11. Executive Compensation 45

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 45

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 45 P art IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 46

Form 10-K Summary

Item 16. Form 10-K Summary 47 Signature Page 41 Index to Financial Statements F-1 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K of Mercer Bancorp, Inc. (which we may refer to as "we," "us," the "Company" or "Mercer Bancorp") contains forward-looking statements, which can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "assume," "plan," "seek," "expect," "will," "may," "should," "indicate," "would," "believe," "contemplate," "continue," "target" and words of similar meaning. These forward-looking statements include, but are not limited to: estimates of our risks and future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this Annual Report on Form 10-K. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: general economic conditions, either nationally or in our market area, which are worse than expected, including the effects of inflation and monetary policy; changes in the interest rate environment that reduce our margins and yields, the fair value of our financial instruments, or our level of loan originations, or increase the level of defaults, losses and prepayments within our loan portfolio; adverse changes in the securities markets; changes in the level and

View Full Filing

View this 10-K filing on SEC EDGAR