Affinity Bancshares, Inc. reported a solid financial performance for the third quarter of 2025, with net income reaching $2.2 million, a 28% increase from $1.7 million in the same period last year. For the nine months ending September 30, 2025, net income totaled $6.2 million, up from $4.1 million in 2024. The increase in profitability was primarily driven by a rise in net interest income, which grew to $7.8 million for the quarter and $22.9 million for the year-to-date, reflecting a 4.8% and 5.3% increase, respectively, compared to the previous year. The company's total interest income also rose to $12.9 million for the quarter, up from $12.3 million, while total interest expense increased to $5.2 million from $4.9 million.
The company's total assets increased by $58.4 million, or 6.7%, to $925.2 million as of September 30, 2025, compared to $866.8 million at the end of 2024. This growth was primarily attributed to a $15.4 million increase in gross loans, which reached $729.5 million, and a significant rise in cash and cash equivalents, which totaled $84.8 million. Total deposits also saw a notable increase of $65.9 million, or 9.8%, to $739.4 million, driven by growth across all deposit types, particularly in money market and savings accounts.
Operationally, Affinity Bancshares has focused on expanding its loan portfolio, particularly in construction and consumer installment loans, which increased by 10.1% and 9.9%, respectively. The company reported a loan-to-deposit ratio of 98.7% as of September 30, 2025, down from 106.0% at the end of 2024, indicating improved liquidity. The allowance for credit losses on loans was $8.6 million, representing 1.17% of total loans, slightly down from 1.19% at the end of the previous year.
Strategically, the company has been active in managing its capital structure, evidenced by a special dividend payment of $8.8 million and a common stock repurchase totaling $4.1 million during the nine months. Despite these outflows, stockholders' equity decreased only slightly to $125.4 million from $129.1 million. Looking ahead, Affinity Bancshares remains focused on maintaining its liquidity position and managing interest rate risk, with plans to continue diversifying its loan portfolio and enhancing its deposit base to support future growth.
About Affinity Bancshares, Inc.
Affinity Bancshares, Inc. operates primarily through its wholly owned subsidiary, Affinity Bank, a national bank headquartered in Georgia. The company offers deposit accounts and originates loans including commercial real estate, commercial and industrial, residential mortgage, construction, and consumer loans. It serves local consumers, small businesses, and specialized markets such as dental practices, leveraging relationship-driven banking and a virtual platform, FitnessBank, to attract deposits nationwide.
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