ENB Financial Q2 net income down 29.7% to $1.8M; EPS $0.32 vs $0.46

ENB Financial Corp

Net income $1.797M vs $2.558M in Q2 2022; basic EPS $0.32 vs $0.46.
Net interest income +14.1% to $1.683M, but interest expense surged 578% on rate pressure.
Provision for credit losses $815K (up from $650K); adopted CECL with $105M loan growth.
Non-interest income fell 19.8% due to $954K realized securities losses to fund loans.
Annualized ROA dropped to 0.39% from 0.60%; ROE to 6.85% from 9.55%.

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

ENB Financial Corp reported Q2 2023 results: EPS $0.32.

Period: Q2 2023
EPS: $0.32
Result: reported results

Exact text from the filing

ENB Financial Corp (OTCQX: ENBP), the bank holding company for Ephrata National Bank, reports net income for the second quarter of 2023 of $1,797,000, a $761,000, or 29.7% decrease, from the $2,558,000 earned during the second quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENB Financial Corp reported Q2 2023 results: EPS $0.32.

Period: Q2 2023
EPS: $0.32
Result: reported results

Exact text from the filing

Basic and diluted earnings per share for the second quarter of 2023 and 2022 were $0.32 and $0.46, respectively

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Source: SEC EDGAR

accession 0001104659-23-082283

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