secwatch.observer — SEC 8-K summary
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Issuer:     ECB Bancorp, Inc. /MD/ (ECBK)
CIK:        0001914605
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000950170-24-116871
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1914605/000095017024116871/0000950170-24-116871-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1914605/000095017024116871/ecbk-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-116871

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