BETHLEHEM, Pa., Aug. 19, 2024 (GLOBE NEWSWIRE) — On August 12, 2024, Embassy Bancorp, Inc. (OTCQX: EMYB) (the Firm) filed its Quarterly Report on Type 10-Q for the interval ended June 30, 2024, a duplicate of which may be discovered at https://traders.embassybank.com/sec-filings/paperwork/default.aspx.
Highlights of the submitting, which incorporates consolidated monetary data of the Firm and Embassy Financial institution For the Lehigh Valley (the Financial institution), the Firm’s wholly-owned subsidiary, embody:
- Whole belongings surpassed $1.7 billion.
- Money and money equivalents available of $135.9 million at June 30, 2024, or 7.9% of complete belongings.
- Deposits of $1.6 billion at June 30, 2024, a rise of $91.4 million from $1.5 billion at December 31, 2023. Non-interest bearing deposits elevated $23.1 million throughout this similar interval. The Firm doesn’t have any brokered deposits.
- The Firm had no brief or long run borrowings as of June 30, 2024, and throughout the six months ended June 30, 2024, repaid short-term borrowings of $35 million. There have been no new brief or long run borrowings throughout the six months ended June 30, 2024.
- Financial institution value of funds of 1.86% for the quarter ended June 30, 2024, in comparison with a Pennsylvania peer group (inventory banks headquartered in Pennsylvania with belongings between $100 million and $5 billion) value of funds of two.23%.
- Financial institution belongings per worker of $15.2 million at June 30, 2024, in comparison with the Pennsylvania peer group belongings per worker of $7.6 million.
- Nonperforming belongings to complete belongings of solely 0.05% as of June 30, 2024.
- Web earnings of $2.5 million, or $0.33 per diluted share, for the three months ended June 30, 2024 and web earnings of $5.0 million, or $0.66 per diluted share, for the six months ended June 30, 2024.
- A dividend of $0.42 per share was declared on June 20, 2024 and paid on July 12, 2024, to shareholders of document as of June 28, 2024.
About Embassy Bancorp, Inc.
With over $1.7 billion in belongings, Embassy Bancorp, Inc. is the mum or dad firm of Embassy Financial institution For the Lehigh Valley, a full-service neighborhood financial institution working ten department places of work within the Lehigh Valley space of Pennsylvania. The Financial institution is the most important Lehigh Valley headquartered neighborhood financial institution and was voted the 2023 Morning Name Readers’ Selection Finest Financial institution. As of June 30, 2023, the Federal Deposit Insurance coverage Company’s Abstract of Deposits signifies that the Financial institution claimed the 4th spot in deposit market share in Lehigh and Northampton Counties mixed. For extra data, go to www.embassybank.com.
Protected Harbor for Ahead-Wanting Statements
This doc might include forward-looking statements as outlined within the Non-public Securities Litigation Reform Act of 1995. Precise outcomes and tendencies might differ materially from these set forth in such statements resulting from varied dangers, uncertainties and different elements. Such dangers, uncertainties and different elements that might trigger precise outcomes and expertise to vary from these projected embody, however should not restricted to, the next: ineffectiveness of the corporate’s enterprise technique resulting from adjustments in present or future market circumstances; the results of competitors, and of adjustments in legal guidelines and laws, together with trade consolidation and growth of competing monetary services; rate of interest actions; adjustments in credit score high quality; difficulties in integrating distinct enterprise operations, together with data expertise difficulties; volatilities within the securities markets; and deteriorating financial circumstances, and different dangers and uncertainties, together with these detailed in Embassy Bancorp, Inc.’s filings with the Securities and Alternate Fee (SEC). The statements are legitimate solely as of the date hereof and Embassy Bancorp, Inc. disclaims any obligation to replace this data.
Contact:
David M. Lobach, Jr.
Chairman, President and CEO
(610) 882-8800
Supply: Embassy Bancorp, Inc.