ECB Bancorp Q4 net income falls to $789K ($0.09 EPS); full year net income rises to $4.5M ($0.52 EPS)

ECB Bancorp, Inc. /MD/

2023-FY EPS reported $0.52

Net income Q4 2023: $789K vs $975K Q4 2022; diluted EPS $0.09 vs $0.12.
Full year 2023 net income: $4.5M vs $2.7M in 2022; diluted EPS $0.52 vs $0.32.
Net interest income before provision fell 12.8% to $5.9M in Q4 due to higher cost of funds and inverted yield curve.
Total loans grew 17.4% to $1.05B; deposits up 20.9% to $868.2M, driven by certificates of deposit (+55.9%).
Asset quality solid: full-year net charge-offs $1K, non-performing assets 0.09% of assets; annual meeting set for June 5, 2024.

item 2.02 item 8.01 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 the quarter ended December 31, 2023 results: net income $789,000, or $0.09 per diluted share.

Period: the quarter ended December 31, 2023
Net income: $789,000, or $0.09 per diluted share
Result: reported results

Exact text from the filing

ECB Bancorp, Inc. Reports Fourth Quarter Results EVERETT, MA, February 15, 2024 - 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 $789,000, or $0.09 per diluted share for the quarter ended December 31, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ECB Bancorp, Inc. /MD/ reported the year ended December 31, 2023 results: net income $4.5 million, or $0.52 per diluted share.

Period: the year ended December 31, 2023
Net income: $4.5 million, or $0.52 per diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, the Company reported net income of $4.5 million, or $0.52 per diluted share as compared to net income of $2.7 million, or $0.32 per diluted share for the year ended December 31, 2022

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Source: SEC EDGAR

accession 0000950170-24-015840

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