Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Director Teak Shore was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 31
The Fidelity Bank signed a definitive merger agreement to acquire Affinity Bancshares, Inc. (NasdaqCM:AFBI) for approximately $150 million. The Fidelity Bank signed a definitive merger agreement to acquire Affinity Bancshares, Inc. (NasdaqCM:AFBI) for approximately $150 million on March 30, 2026. Under the terms of the agreement, each Affinity shareholder will receive $23.00 per share in cash, subject to adjustment based on Affinity’s adjusted stockholders’ equity at closing.
Following the close of the transaction, Fidelity will operate two branches in Georgia in addition to its 52 North Carolina branches, two South Carolina branches and one Virginia branch.
The boards of directors of both Fidelity and Affinity have unanimously approved the transaction. The transaction is subject to regulatory approvals, Affinity stockholder approval, and other customary closing conditions. The transaction is expected to close in the third quarter of 2026.
Raymond James Financial, Inc. acted as financial advisor for The Fidelity Bank. Ward & Smith acted as legal advisor for The Fidelity Bank. Performance Trust Capital Partners, LLC acted as financial advisor for Affinity Bancshares, Inc. Luse Gorman, P.C acted as legal advisor for Affinity Bancshares, Inc. Duyuru • Apr 18
Affinity Bancshares, Inc., Annual General Meeting, May 20, 2025 Affinity Bancshares, Inc., Annual General Meeting, May 20, 2025. Duyuru • Mar 01
Affinity Bancshares, Inc. Announces Special Cash Dividend, Payable on March 27, 2025 Affinity Bancshares, Inc. announced that its Board of Directors has declared the payment of a special cash dividend. The dividend of $1.50 per share will be paid on March 27, 2025 to stockholders of record as of March 13, 2025. Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: US$0.27 (vs US$0.25 in 3Q 2023) Third quarter 2024 results: EPS: US$0.27 (up from US$0.25 in 3Q 2023). Revenue: US$7.98m (up 6.0% from 3Q 2023). Net income: US$1.73m (up 6.6% from 3Q 2023). Profit margin: 22% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Sep 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to €18.90. The fair value is estimated to be €23.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.3%. Buy Or Sell Opportunity • Aug 05
Now 22% undervalued Over the last 90 days, the stock has risen 24% to €18.90. The fair value is estimated to be €24.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.3%. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: US$0.16 (vs US$0.24 in 2Q 2023) Second quarter 2024 results: EPS: US$0.16 (down from US$0.24 in 2Q 2023). Revenue: US$7.93m (up 7.5% from 2Q 2023). Net income: US$1.03m (down 35% from 2Q 2023). Profit margin: 13% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €18.90, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 83% over the past three years. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: US$0.21 (vs US$0.26 in 1Q 2023) First quarter 2024 results: EPS: US$0.21 (down from US$0.26 in 1Q 2023). Revenue: US$7.33m (down 1.5% from 1Q 2023). Net income: US$1.34m (down 23% from 1Q 2023). Profit margin: 18% (down from 23% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Duyuru • Apr 28
Affinity Bancshares, Inc. Announces Net Loan Charge-Offs for the Three Months Ended March 31, 2024 Affinity Bancshares, Inc. announced net loan charge-offs for the three months ended March 31, 2024. Net loan charge-offs were $326,000 for the three months ended March 31, 2024, as compared to net loan charge-offs of $91,000 for the three months ended March 31, 2023. Duyuru • Apr 13
Affinity Bancshares, Inc., Annual General Meeting, May 22, 2024 Affinity Bancshares, Inc., Annual General Meeting, May 22, 2024, at 10:00 US Eastern Standard Time. Agenda: the election of three directors; the ratification of the appointment of Wipfli LLP as the independent registered public accounting firm for the year ending December 31, 2024; an advisory, non-binding resolution with respect to the executive compensation. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: US$1.00 (vs US$1.07 in FY 2022) Full year 2023 results: EPS: US$1.00 (down from US$1.07 in FY 2022). Revenue: US$29.7m (down 5.6% from FY 2022). Net income: US$6.45m (down 9.6% from FY 2022). Profit margin: 22% (down from 23% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 3.35% (down from 4.14% in FY 2022). Non-performing loans: 1.13% (up from 1.08% in FY 2022). Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: US$1.00 (vs US$1.07 in FY 2022) Full year 2023 results: EPS: US$1.00 (down from US$1.07 in FY 2022). Revenue: US$29.7m (down 5.6% from FY 2022). Net income: US$6.45m (down 9.6% from FY 2022). Profit margin: 22% (down from 23% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: US$0.25 (vs US$0.28 in 3Q 2022) Third quarter 2023 results: EPS: US$0.25 (down from US$0.28 in 3Q 2022). Revenue: US$7.53m (down 5.1% from 3Q 2022). Net income: US$1.62m (down 13% from 3Q 2022). Profit margin: 22% (down from 24% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 06
Independent Director recently bought €82k worth of stock On the 31st of August, Robin Reich bought around 6k shares on-market at roughly €13.70 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.0m more in shares than they have sold in the last 12 months. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: US$0.24 (vs US$0.27 in 2Q 2022) Second quarter 2023 results: EPS: US$0.24 (down from US$0.27 in 2Q 2022). Revenue: US$7.37m (down 2.7% from 2Q 2022). Net income: US$1.59m (down 11% from 2Q 2022). Profit margin: 22% (down from 24% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. New Risk • Jul 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€78.9m market cap, or US$87.2m). Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €10.70, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 63% over the past three years. Recent Insider Transactions • Apr 08
Insider recently bought €547k worth of stock On the 6th of April, Kenneth Lehman bought around 41k shares on-market at roughly €13.28 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €799k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: US$1.07 (vs US$1.10 in FY 2021) Full year 2022 results: EPS: US$1.07 (down from US$1.10 in FY 2021). Revenue: US$31.5m (up 1.9% from FY 2021). Net income: US$7.13m (down 5.8% from FY 2021). Profit margin: 23% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 4.14% (up from 4.04% in FY 2021). Non-performing loans: 1.08% (down from 1.20% in FY 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 23
Insider recently bought €117k worth of stock On the 22nd of March, Kenneth Lehman bought around 9k shares on-market at roughly €12.96 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €252k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €12.10, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 79% over the past three years. Buying Opportunity • Mar 15
Now 31% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be €17.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 63%. Buying Opportunity • Feb 23
Now 21% undervalued Over the last 90 days, the stock is up 9.5%. The fair value is estimated to be €19.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 63%. Recent Insider Transactions • Feb 17
CEO & Director recently bought €73k worth of stock On the 14th of February, Edward Cooney bought around 5k shares on-market at roughly €14.63 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Edward's only on-market trade for the last 12 months. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: US$1.07 (vs US$1.10 in FY 2021) Full year 2022 results: EPS: US$1.07 (down from US$1.10 in FY 2021). Revenue: US$31.5m (up 1.9% from FY 2021). Net income: US$7.13m (down 5.8% from FY 2021). Profit margin: 23% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 4.14% (up from 4.04% in FY 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Feb 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Robin Reich was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$0.28 (vs US$0.26 in 3Q 2021) Third quarter 2022 results: EPS: US$0.28 (up from US$0.26 in 3Q 2021). Revenue: US$7.93m (up 7.1% from 3Q 2021). Net income: US$1.86m (up 3.1% from 3Q 2021). Profit margin: 24% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 05
Affinity Bancshares, Inc. and Affinity Bank Appoint Brandi C. Pajot as Chief Financial Officer On July 28, 2022, the Boards of Directors of Affinity Bancshares, Inc. and Affinity Bank (the Bank) appointed Brandi C. Pajot as Chief Financial Officer of the company and the Bank effective July 28, 2022. Ms. Pajot, age 45, has served as the Bank's Chief Treasury and Risk Management Officer since March 2020, and joined the Bank in January 2020 in connection with its acquisition of legacy Affinity Bank. In 2010, Ms. Pajot was appointed as Senior Vice President and Chief Financial Officer of legacy Affinity Bank, which she joined in 2007. She began her banking career in 2000 and has experience with community and correspondent banks. Ms. Pajot is a Certified Public Accountant and licensed in the State of Georgia. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: US$0.27 (vs US$0.34 in 2Q 2021) Second quarter 2022 results: EPS: US$0.27 (down from US$0.34 in 2Q 2021). Revenue: US$7.57m (down 1.9% from 2Q 2021). Net income: US$1.78m (down 23% from 2Q 2021). Profit margin: 24% (down from 30% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: US$0.26 (vs US$0.31 in 1Q 2021) First quarter 2022 results: EPS: US$0.26 (down from US$0.31 in 1Q 2021). Revenue: US$8.10m (down 6.1% from 1Q 2021). Net income: US$1.79m (down 16% from 1Q 2021). Profit margin: 22% (down from 25% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 20
Affinity Bancshares, Inc., Annual General Meeting, May 24, 2022 Affinity Bancshares, Inc., Annual General Meeting, May 24, 2022, at 14:00 US Eastern Standard Time. Agenda: To consider the election of two directors; to consider the ratification of the appointment of Wipfli LLP as the independent registered public accounting firm for the year ending December 31, 2022; the approval of the Affinity Bancshares, Inc. 2022 Equity Incentive Plan; and to consider such other matters as may properly come before the annual meeting, or any adjournments thereof. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.10 (up from US$0.41 in FY 2020). Revenue: US$30.9m (up 22% from FY 2020). Net income: US$7.57m (up 145% from FY 2020). Profit margin: 25% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 02
Independent Director recently bought €66k worth of stock On the 30th of November, Howard Roberts bought around 5k shares on-market at roughly €13.11 per share. In the last 3 months, there was an even bigger purchase from another insider worth €82k. Insiders have collectively bought €800k more in shares than they have sold in the last 12 months. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS US$0.26 (vs US$0.25 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$7.41m (up 2.9% from 3Q 2020). Net income: US$1.81m (down 3.5% from 3Q 2020). Profit margin: 24% (down from 26% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 13
Insider recently bought €82k worth of stock On the 12th of October, Kenneth Lehman bought around 7k shares on-market at roughly €12.18 per share. In the last 3 months, they made an even bigger purchase worth €117k. Insiders have collectively bought €698k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 25
Insider recently bought €117k worth of stock On the 24th of August, Kenneth Lehman bought around 10k shares on-market at roughly €11.46 per share. In the last 3 months, they made an even bigger purchase worth €180k. Insiders have collectively bought €616k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS US$0.34 (vs US$0.14 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$7.72m (up 30% from 2Q 2020). Net income: US$2.32m (up 115% from 2Q 2020). Profit margin: 30% (up from 18% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 05
Insider recently bought €88k worth of stock On the 3rd of August, Kenneth Lehman bought around 8k shares on-market at roughly €11.07 per share. In the last 3 months, they made an even bigger purchase worth €180k. Insiders have collectively bought €466k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 22
Insider recently bought €102k worth of stock On the 20th of July, Kenneth Lehman bought around 9k shares on-market at roughly €11.03 per share. In the last 3 months, they made an even bigger purchase worth €180k. Insiders have collectively bought €370k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 11
Insider recently bought €180k worth of stock On the 8th of July, Kenneth Lehman bought around 17k shares on-market at roughly €10.91 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €269k more in shares than they have sold in the last 12 months. Duyuru • Jun 28
Affinity Bancshares, Inc.(NasdaqCM:AFBI) dropped from Russell 3000E Growth Index Affinity Bancshares, Inc.(NasdaqCM:AFBI) dropped from Russell 3000E Growth Index