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William Penn Bancorporation (WMPN)

William Penn Bancorporation, headquartered in Bristol, Pennsylvania, is the holding company for William Penn Bank, which serves the Delaware Valley area through eleven full-service branch offices in Bucks County and Philadelphia, Pennsylvania, and Burlington and Camden Counties in New Jersey. The Company's executive offices are located at 10 Canal Street, Suite 104, Bristol, Pennsylvania 19007. William Penn Bank's deposits are insured up to the legal maximum (generally $250,000 per depositor) by the Federal Deposit Insurance Corporation (FDIC). The primary federal regulator for William Penn Bank is the FDIC.

WMPN stock data

Calendar

7 Sep 22
28 Sep 22
30 Jun 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 22 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 36.17M 36.17M 36.17M 36.17M 36.17M 36.17M
Cash burn (monthly) 7.36M 11.05M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 21.71M 32.58M n/a n/a n/a n/a
Cash remaining 14.46M 3.59M n/a n/a n/a n/a
Runway (months of cash) 2.0 0.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Aug 22 Alan B Turner Common Stock Buy Acquire P Yes No 11.565 325 3.76K 1,040
3 Aug 22 Kenneth John Stephon Common Stock Buy Acquire P Yes No 11.3 500 5.65K 35,780
28 Jul 22 Kenneth John Stephon Common Stock Buy Acquire P No No 11.59 2,750 31.87K 25,575
27 Jul 22 Alan B Turner Common Stock Buy Acquire P No No 11.53 235 2.71K 15,520
26 Jul 22 Alan B Turner Common Stock Buy Acquire P No No 11.61 100 1.16K 15,285
25 Jul 22 Kenneth John Stephon Common Stock Buy Acquire P No No 11.491 12,500 143.64K 22,825
25.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 27 29 -6.9%
Opened positions 6 1 +500.0%
Closed positions 8 4 +100.0%
Increased positions 6 10 -40.0%
Reduced positions 4 4
13F shares Current Prev Q Change
Total value 50.58M 56.31M -10.2%
Total shares 4.29M 4.47M -4.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
William Penn Bank Employee Stock Ownership Plan 1.09M $13.17M 0.0%
Vanguard 610.62K $7.15M +8.6%
Alliancebernstein 586.6K $6.86M -0.9%
Price Jennifer C. 463.57K $5.42M NEW
rhino investment partners 284.22K $3.33M NEW
Raffles Associates 270K $3.16M 0.0%
Hotchkis & Wiley Capital Management 204.65K $2.39M +4.0%
Maltese Capital Management 187.5K $2.19M 0.0%
Oppenheimer & Close 150K $1.76M 0.0%
Geode Capital Management 101.16K $1.18M +1.5%
Largest transactions Shares Bought/sold Change
Price Jennifer C. 463.57K +463.57K NEW
Price Michael F 0 -455K EXIT
Philadelphia Financial Management of San Francisco 0 -380.78K EXIT
rhino investment partners 284.22K +284.22K NEW
Stilwell Value 0 -146.92K EXIT
Vanguard 610.62K +48.4K +8.6%
Susquehanna International 0 -30.44K EXIT
Raymond James & Associates 26.16K +26.16K NEW
Dimensional Fund Advisors 23.02K +23.02K NEW
Marquette Asset Management 0 -15.62K EXIT

Financial report summary

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Management Discussion
  • We recorded net income of $4.2 million, or $0.30 per basic and diluted share, for the year ended June 30, 2022 compared to net income of $3.8 million, or $0.26 per basic and diluted share, for the year ended June 30, 2021.  We recorded core net income(1) of $4.2 million, or $0.30 per basic and diluted share, for the year ended June 30, 2022 compared to core net income(1) of $3.5 million, or $0.24 per basic and diluted share, for the year ended June 30, 2021.
  • For the year ended June 30, 2022, net interest income was $23.0 million, an increase of $1.5 million, or 6.99%, from the year ended June 30, 2021.  The increase in net interest income was primarily due to an increase in interest income on investments and a decrease in interest expense on deposits and borrowings, partially offset by a decrease in interest income on loans.  As previously discussed, we improved our asset mix by utilizing some of the excess cash we hold to purchase high-quality investments resulting in an increase in interest income on investments. During the year ended June 30, 2022, we originated $113.3 million of new loans, including $89.5 million of commercial loans, that were partially offset by significant payoffs primarily in the residential portfolio. In addition, we experienced a $1.8 million decrease in interest expense primarily due to the re-pricing of deposits and the prepayment of advances from the FHLB of Pittsburgh.  During the year ended June 30, 2022, we replaced high-cost, long-term advances with short-term advances.  The net interest margin measured 3.02% for the year ended June 30, 2022 compared to 3.03% for the same period in 2021.  The decrease in the net interest margin is consistent with the decrease in interest rates and margin compression during the period that was primarily due to the COVID-19 pandemic and its impact on the economy and interest rate environment.
  • The provision for loan losses was a $20 thousand net recovery during the year ended June 30, 2022 compared to an expense of $133 thousand during the year ended June 30, 2021.  The provision credit for the year ended June 30, 2022 was primarily due to stable asset quality metrics, including continued low levels of net charge-offs and non-performing assets.  Our allowance for loan losses totaled $3.4 million, or 0.71% of total loans and 0.94% of total loans, excluding acquired loans(2), compared to $3.6 million, or 0.78% of total loans

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