ECB Bancorp Q2 net income $1.43M ($0.17/sh); loan growth 12.5%

ECB Bancorp, Inc. /MD/

2023-Q2 EPS reported $0.27

Net income of $1.43M, EPS $0.17, up 2.1% YoY; 6-month net income $2.3M down 16.3%.
Net interest income before provision was $6.4M (+19.3% YoY); provision for credit losses was $0 vs $754K.
Total assets $1.2B (+12.5% YTD); net loan growth $111M (12.5%); deposits $787M (+9.6%).
Noninterest expense $4.7M (+31.6%) on higher salaries, deposit insurance; noninterest income fell on life insurance gain in prior year.
Allowance for credit losses $8.5M (0.84% of loans); no net charge-offs; NPLs $923K (0.08% of assets).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ECB Bancorp, Inc. /MD/ reported the quarter ended June 30, 2023 results: net income $1.43 million, EPS $0.17 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $1.43 million
EPS: $0.17 per diluted share
Result: reported results

Exact text from the filing

ECB Bancorp, Inc. Reports Second Quarter Results EVERETT, MA, July 27, 2023 - ECB Bancorp, Inc. (NASDAQ-ECBK) (the “Company”), the holding company for Everett Co-operative Bank (the “Bank”), a state-chartered co-operative bank headquartered in Everett, Massachusetts, today reported net income of $1.43 million, or $0.17 per diluted share, for the quarter ended June 30, 2023 compared to net income of $1.40 million for the quarter ended June 30, 2022, an increase of 2.1%.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ECB Bancorp, Inc. /MD/ reported the six months ended June 30, 2023 results: net income $2.3 million, EPS $0.27 per diluted share.

Period: the six months ended June 30, 2023
Net income: $2.3 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, the Company reported net income of $2.3 million, or $0.27 per diluted share, as compared to net income of $2.8 million for the six months ended June 30, 2022, a decrease of 16.3%.

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Source: SEC EDGAR

accession 0000950170-23-035127

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