VWF Bancorp Files 2024 10-K

TL;DR

VWFB 10-K filed. Financials look stable for FY24.

AI Summary

VWF Bancorp, Inc. filed its 2024 10-K report for the fiscal year ending June 30, 2024. The company, headquartered in Van Wert, OH, operates in the savings institutions sector. The filing details financial information, including common stock, additional paid-in capital, and treasury stock for the fiscal years 2022-2024.

Why It Matters

This filing provides a comprehensive overview of VWF Bancorp's financial health and operational performance for the past fiscal year, crucial for investors and stakeholders to assess the company's value and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report with no immediate red flags or significant negative disclosures.

Key Numbers

• 0630 — Fiscal Year End (Indicates the end of the reporting period for the 10-K.)
• 2024 — Filing Year (The year in which the 10-K report was filed.)

Key Players & Entities

• VWF Bancorp, Inc. (company) — Filer of the 10-K report
• Van Wert, OH (location) — Headquarters of VWF Bancorp, Inc.
• June 30, 2024 (date) — Fiscal year end for the 10-K filing
• 2024 (date) — Year of the 10-K filing

FAQ

Key Financial Figures

• $0.01 — (g) of the Act: Common Stock, par value $0.01 per share Indicate by check mark if t
• $14.00 — strant, based upon the closing price of $14.00 for the common stock on December 31, 20
• $10.00 — 924 shares of common stock at a price of$10.00 per share. The Company is a registere
• $69.8 million — tgage Lending . At June 30, 2024 we had $69.8 million of loans secured by residential real es
• $1.3 m — primary market area. At June 30, 2024, $1.3 million, or 1.0% of residential mortgage
• $19.7 million — Estate Loans . At June 30, 2024, we had $19.7 million in commercial real estate loans, or 15.
• $2,500,000 — est commercial real estate loan was for $2,500,000, which fully funded at origination. 5
• $4.2 million — Estate Loans . At June 30, 2024, we had $4.2 million in agricultural real estate loans, or 3
• $624,000 — rgest agricultural real estate loan was $624,000, of which $355,000 had been disbursed.
• $355,000 — real estate loan was $624,000, of which $355,000 had been disbursed. At June 30, 2024, t
• $17.6 million — nd Land Loans. At June 30, 2024, we had $17.6 million in construction and land loans, or 13.6
• $742,000 — rgest residential construction loan was $742,000, of which $31,000 has been disbursed.
• $31,000 — onstruction loan was $742,000, of which $31,000 has been disbursed. We make commercia
• $4.5 m — al construction loan commitment was for $4.5 million, of which $3.5 million has been d
• $3.5 million — mmitment was for $4.5 million, of which $3.5 million has been disbursed. Construction loan

Filing Documents

• vwfb-20240630x10k.htm (10-K) — 4444KB
• vwfb-20240630xex21d1.htm (EX-21.1) — 3KB
• vwfb-20240630xex31d1.htm (EX-31.1) — 12KB
• vwfb-20240630xex31d2.htm (EX-31.2) — 12KB
• vwfb-20240630xex32d1.htm (EX-32.1) — 5KB
• vwfb-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-013063.txt ( ) — 19681KB
• vwfb-20240630.xsd (EX-101.SCH) — 70KB
• vwfb-20240630_cal.xml (EX-101.CAL) — 122KB
• vwfb-20240630_def.xml (EX-101.DEF) — 329KB
• vwfb-20240630_lab.xml (EX-101.LAB) — 756KB
• vwfb-20240630_pre.xml (EX-101.PRE) — 638KB
• vwfb-20240630x10k_htm.xml (XML) — 5073KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 26 ITEM 1B. Unresolved Staff Comments 26 ITEM 1C. Cybersecurity 26 ITEM 2.

Properties

Properties 27 ITEM 3.

Legal Proceedings

Legal Proceedings 27 ITEM 4. Mine Safety Disclosures 27 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 ITEM 6. [Reserved] 28 ITEM 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 ITEM 8. Consolidated Financial Statements and Supplementary Data 40 ITEM 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 79 ITEM 9A.

Controls and Procedures

Controls and Procedures 79 ITEM 9B. Other Information 80 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 80 ITEM 11.

Executive Compensation

Executive Compensation 80 ITEM 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 80 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 81 ITEM 14. Principal Accountant Fees and Services 81 PART IV ITEM 15. Exhibits and Financial Statement Schedules 82 ITEM 16. Form 10-K Summary 83

SIGNATURES

SIGNATURES 84 Table of Contents PART I

Forward Looking Statements

Forward Looking Statements This annual report contains forward-looking statements, which can be identified by the use of words such as such "estimate," "project," "believe," "intend," "anticipate," "plan," "seek," "expect," "will," "would," "should," "could" or "may," 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 current beliefs and expectations of our management 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. Accordingly, you should not place undue reliance on such statements. 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. 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 areas, that are worse than expected; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; fluctuations in real estate values and in the conditions of the residential real estate, commercial real estate, and agricultural real estate markets; demand for loans and deposits in our market area; our ability to implement and change our business strategies; compet

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View this 10-K filing on SEC EDGAR