ECB Bancorp reports Q3 net income $1.34M vs net loss $1.03M a year ago

ECB Bancorp, Inc. /MD/

2023-Q3 EPS reported $0.43

Diluted EPS $0.16 in Q3 2023 vs -$0.12 in Q3 2022; prior-year loss driven by $3.2M charitable contribution.
Net interest income before provision fell 6.9% to $6.1M due to higher funding costs; provision benefit of $184K improved bottom line.
Total loans rose 12.6% YTD to $997.4M; deposits grew 13.1% to $812.5M, led by CDs up 38.2%.
Company commenced share buyback program and opened a new branch in Woburn, MA during Q3.
Non-performing assets remained low at $1.2M (0.10% of assets); allowance for credit losses at 0.82% of loans.

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 0.9

ECB Bancorp, Inc. /MD/ reported three and nine months ended September 30, 2023 results: net income $1.34 million or $0.16 per diluted share.

Period: three and nine months ended September 30, 2023
Net income: $1.34 million or $0.16 per diluted share
Result: reported results

Exact text from the filing

On October 26, 2023, ECB Bancorp, Inc., the holding company for Everett Co-operative Bank, issued a press release announcing its financial results at and for the three and nine months ended September 30, 2023.

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ECB Bancorp, Inc. /MD/ filing history →

Source: SEC EDGAR

accession 0000950170-23-055622

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