ECB Bancorp Inc MD
For the period ended Feb 15, 2024. Filed Feb 15, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Feb 15, 2024 · Filed Feb 15, 2024
ECBK$21.45-0.5%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands except share data)
(in thousands except share data)
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $3,786 | $3,123 |
| Short-term investments | 115,250 | 58,927 |
| Total cash and cash equivalents | 119,036 | 62,050 |
| Interest-bearing time deposits | — | 300 |
| Investments in available-for-sale securities (at fair value) | 5,003 | 5,001 |
| Investments in held-to-maturity securities, at cost (fair values of $70,590 at December 31, 2023 (unaudited) and $69,707 at December 31, 2022) | 76,979 | 77,591 |
| Loans, net of allowance for credit losses of $8,591 as of December 31, 2023 (unaudited) and $7,200 as of December 31, 2022 | 1,039,789 | 885,674 |
| Federal Home Loan Bank stock, at cost | 9,892 | 7,293 |
| Premises and equipment, net | 3,754 | 3,698 |
| Accrued interest receivable | 3,766 | 2,632 |
| Deferred tax asset, net | 4,767 | 4,344 |
| Bank-owned life insurance | 14,472 | 14,067 |
| Other assets | 2,877 | 1,812 |
| Total assets | $1,280,335 | $1,064,462 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Deposits: | ||
| Noninterest-bearing | $78,342 | $84,903 |
| Interest-bearing | 789,872 | 633,246 |
| Total deposits | 868,214 | 718,149 |
| Federal Home Loan Bank advances | 234,000 | 174,000 |
| Other liabilities | 13,220 | 9,583 |
| Total liabilities | 1,115,434 | 901,732 |
| Shareholders' Equity: | ||
| Preferred Stock, par value $0.01; Authorized: 1,000,000 shares; Issued and outstanding: 0 shares and 0 shares, respectively | — | — |
| Common Stock, par value $0.01; Authorized: 30,000,000 shares; Issued and outstanding: 9,291,810 shares and 9,175,247 shares, respectively | 93 | 92 |
| Additional paid-in capital | 87,431 | 89,286 |
| Retained earnings | 83,855 | 80,076 |
| Accumulated other comprehensive income | 128 | 249 |
| Unallocated common shares held by the Employee Stock Ownership Plan | (6,606) | (6,973) |
| Total shareholders' equity | 164,901 | 162,730 |
| Total liabilities and shareholders' equity | $1,280,335 | $1,064,462 |
| Shareholders' Equity Ratios | ||
| Book value per common share | $17.75 | $17.74 |
| Regulatory Capital Ratios (Everett Co-operative Bank) | ||
| Total capital to risk weighted assets | 17.30% | 16.40% |
| Tier 1 capital to risk weighted assets | 16.22% | 15.49% |
| Tier 1 capital to average assets | 11.31% | 13.89% |
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