ECB Bancorp Q3 net income down to $1.1M ($0.14 EPS) from $1.3M YoY; NIM compresses

ECB Bancorp, Inc. /MD/

2024-Q3 EPS reported $0.30

Net income $1.1M ($0.14 diluted EPS) vs $1.3M ($0.16) in Q3 2023; nine-month net $2.5M ($0.30) vs $3.7M ($0.43).
Net interest margin 1.85% (Q3) and 1.83% (9M) vs 2.00% and 2.18% a year ago; total assets up 6.1% to $1.36B.
Noninterest expense rose 4.2% to $5.0M on $245K stock-based compensation; salaries & benefits up 9.9%.
Deposits grew 8.8% to $944M; loans up 7.2% to $1.12B; book value per share $18.14 vs $17.75 at year-end.
Asset quality strong: ACL 0.81%, NPA/total assets 0.08%; share repurchases of $1.8M in 9M 2024.

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