ENB Financial Q3 2024 net income down 7.7% to $3.34M; EPS $0.59 vs $0.64 YoY

ENB Financial Corp

Net income $3.34M in Q3 2024, down 7.7% vs Q3 2023; YTD net income $11.59M, up 47.6%.
Provision for credit losses $497K in Q3 2024 vs release of $504K in Q3 2023 due to classified loan uptick.
Net interest income up $812K (6.1%) in Q3; deposit interest expense jumped 39.8% from competitive rate pressure.
Operating expenses up 8.4% in Q3; salary & benefits rose 17.6% due to competitive hiring market.
Total assets $2.09B, up 9.6% YoY; deposits $1.82B, up 9.3%; equity $135.2M, up 38.6%.

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