secwatch.observer — SEC 8-K summary
======================================

Issuer:     ECB Bancorp, Inc. /MD/ (ECBK)
CIK:        0001914605
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000950170-24-086322
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ECB Bancorp Q2 net income falls 45% to $0.09 EPS; NIM shrinks to 1.82%
----------------------------------------------------------------------

- Net income of $791k ($0.09 diluted EPS) vs $1.4M ($0.17) in Q2 2023, down 45%.
- Net interest margin declined to 1.82% from 2.18% a year ago due to higher funding costs.
- Total loans grew 6.1% to $1.10B; deposits up 7.4% to $932.8M since Dec 2023.
- Provision for credit losses increased to $292k from $0; noninterest expense up 5% to $4.9M.
- Book value per share improved to $18.09; non-performing assets remained low at 0.09% of assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1914605/000095017024086322/0000950170-24-086322-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1914605/000095017024086322/ecbk-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-086322

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer