ECB Bancorp Inc MD
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
ECBK$21.45-0.5%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023
Consolidated Balance Sheets
March 31, 2024 (unaudited) and December 31, 2023
(Dollars in thousands)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $2,572 | $3,786 |
| Short-term investments | 109,796 | 115,250 |
| Total cash and cash equivalents | 112,368 | 119,036 |
| Investments in available-for-sale securities (at fair value) | 2,500 | 5,003 |
| Investments in held-to-maturity securities, at cost (fair values of $70,662 at March 31, 2024 (unaudited) and $70,590 at December 31, 2023) | 77,315 | 76,979 |
| Loans, net of allowance for credit losses of $8,670 at March 31, 2024 (unaudited) and $8,591 at December 31, 2023 | 1,070,951 | 1,039,789 |
| Federal Home Loan Bank stock, at cost | 9,777 | 9,892 |
| Premises and equipment, net | 3,699 | 3,754 |
| Accrued interest receivable | 4,051 | 3,766 |
| Deferred tax asset, net | 4,416 | 4,767 |
| Bank-owned life insurance | 14,590 | 14,472 |
| Other assets | 3,747 | 2,877 |
| Total assets | $1,303,414 | $1,280,335 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Deposits: | ||
| Noninterest-bearing | $76,534 | $78,342 |
| Interest-bearing | 825,112 | 789,872 |
| Total deposits | 901,646 | 868,214 |
| Federal Home Loan Bank advances | 224,000 | 234,000 |
| Other liabilities | 11,979 | 13,220 |
| Total liabilities | 1,137,625 | 1,115,434 |
| 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: 9,243,578 shares and 9,291,810 shares, respectively | 92 | 93 |
| Additional paid-in capital | 87,155 | 87,431 |
| Retained earnings | 84,475 | 83,854 |
| Accumulated other comprehensive income | 582 | 129 |
| Unallocated common shares held by the Employee Stock Ownership Plan | (6,515) | (6,606) |
| Total shareholders' equity | 165,789 | 164,901 |
| Total liabilities and shareholders' equity | $1,303,414 | $1,280,335 |
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