ECB Bancorp Inc MD
For the period ended Feb 5, 2025. Filed Feb 5, 2025.
View on SEC.govAbout this filing
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 5, 2025 · Filed Feb 5, 2025
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)
| Three months ended · Year ended | ||||
|---|---|---|---|---|
| December 31, | December 31, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Interest and dividend income: | ||||
| Interest and fees on loans | $15,384 | $12,969 | $57,852 | $48,330 |
| Interest and dividends on securities | 840 | 751 | 3,186 | 2,701 |
| Interest on short term investments | 1,587 | 1,178 | 6,007 | 3,745 |
| Total interest and dividend income | 17,811 | 14,898 | 67,045 | 54,776 |
| Interest expense: | ||||
| Interest on deposits | 8,956 | 6,599 | 33,435 | 21,413 |
| Interest on Federal Home Loan Bank advances | 2,072 | 2,360 | 8,622 | 8,573 |
| Total interest expense | 11,028 | 8,959 | 42,057 | 29,986 |
| Net interest and dividend income | 6,783 | 5,939 | 24,988 | 24,790 |
| (Benefit) provision for credit losses | (311) | 108 | 174 | 803 |
| Net interest and dividend income after (benefit) provision for credit losses | 7,094 | 5,831 | 24,814 | 23,987 |
| Noninterest income: | ||||
| Customer service fees | 150 | 138 | 577 | 516 |
| Income from bank-owned life insurance | 119 | 106 | 473 | 479 |
| Net gain on sales of loans | 39 | 8 | 119 | 21 |
| Other income | 19 | 9 | 57 | 36 |
| Total noninterest income | 327 | 261 | 1,226 | 1,052 |
| Noninterest expense: | ||||
| Salaries and employee benefits | 3,419 | 3,056 | 13,062 | 11,679 |
| Director compensation | 210 | 202 | 834 | 581 |
| Occupancy and equipment expense | 245 | 246 | 1,033 | 941 |
| Data processing | 314 | 284 | 1,198 | 1,093 |
| Computer software and licensing | 126 | 93 | 443 | 375 |
| Advertising and promotions | 155 | 218 | 551 | 794 |
| Professional fees | 427 | 393 | 1,258 | 1,355 |
| Federal Deposit Insurance Corporation deposit insurance | 191 | 180 | 752 | 793 |
| Other expense | 394 | 365 | 1,538 | 1,443 |
| Total noninterest expense | 5,481 | 5,037 | 20,669 | 19,054 |
| Income before income tax expense | 1,940 | 1,055 | 5,371 | 5,985 |
| Income tax expense | 493 | 266 | 1,380 | 1,529 |
| Net income | $1,447 | $789 | $3,991 | $4,456 |
| Share data: | ||||
| Weighted average shares outstanding, basic | 8,224,033 | 8,406,925 | 8,257,014 | 8,466,021 |
| Weighted average shares outstanding, diluted | 8,375,643 | 8,433,257 | 8,345,737 | 8,523,705 |
| Basic earnings per share | $0.18 | $0.09 | $0.48 | $0.53 |
| Diluted earnings per share | $0.17 | $0.09 | $0.48 | $0.52 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.