Welcome to our dedicated page for Embassy Bancorp news (Ticker: EMYB), a resource for investors and traders seeking the latest updates and insights on Embassy Bancorp stock.
Embassy Bancorp, Inc. (EMYB) provides comprehensive news hub for investors and community members tracking this Lehigh Valley-based community bank. Access official press releases, financial updates, and strategic announcements from the parent company of Embassy Bank for the Lehigh Valley.
This resource centralizes key developments including quarterly earnings reports, leadership updates, and community initiative launches. Stay informed about product innovations like digital banking enhancements and local small business support programs that reflect EMYB's dual focus on traditional values and modern financial solutions.
Our curated news collection serves as a reliable source for monitoring the bank's market position in Pennsylvania's competitive regional banking sector. Track operational milestones through verified announcements about deposit growth, branch expansions, and recognition such as the institution's 'Best Bank' accolades.
Bookmark this page for direct access to Embassy Bancorp's latest communications. Check regularly for updates on financial performance indicators and community impact initiatives that demonstrate EMYB's commitment to relationship-driven banking.
Embassy Bancorp (OTCQX: EMYB) has released its Annual Report for 2024, showing solid financial performance. The company reported net income of $10.4 million ($1.37 per diluted share) and maintained strong liquidity with $96.5 million in cash and cash equivalents, representing 5.7% of total assets.
Deposits grew to $1.55 billion, marking a $76.7 million increase from 2023, with no brokered deposits. The bank's net interest margin improved to 2.28% in Q4 2024, up from 2.21% in Q3. The bank's cost of funds at 1.91% outperformed the Pennsylvania peer group's 2.32%.
Notable operational efficiency is demonstrated by assets per employee of $15.2 million, significantly higher than the peer group's $8.1 million. The bank maintains strong asset quality with nonperforming assets at just 0.14% of total assets, better than the peer group's 0.29%.
Embassy Bancorp (OTCQX: EMYB) reported its Q3 2024 financial results, showing solid performance metrics. The company's cash and equivalents stood at $91.9 million, representing 5.4% of total assets. Deposits increased by $58.9 million to $1.54 billion compared to December 2023. The bank's net interest margin improved to 2.21%, with a competitive cost of funds at 1.98%. Net income reached $2.7 million ($0.36 per diluted share) for Q3 2024, up from $2.5 million in Q2. The bank maintains strong asset quality with nonperforming assets at just 0.07% of total assets.
Embassy Bank for the Lehigh Valley has been named the 2024 Morning Call Readers' Choice for "BEST BANK" in the Lehigh Valley. The bank has also increased its deposit market share in Lehigh & Northampton Counties to 8.86% as of June 30, 2024, up from 8.53% a year earlier. This represents the 4th overall deposit market share position in the FDIC's Summary of Deposits (SOD).
Embassy Bank remains the #1 Lehigh Valley-based bank in the combined counties for market share. The bank operates 10 locations throughout Lehigh and Northampton counties, complemented by digital banking products. The Lehigh Valley's thriving economy, ranked first among mid-sized U.S. markets for development projects, provides significant opportunities for Embassy's growth.
Embassy Bancorp, Inc. (OTCQX: EMYB) reported strong financial results for Q2 2024. Total assets exceeded $1.7 billion, with cash and cash equivalents at $135.9 million (7.9% of total assets). Deposits grew to $1.6 billion, up $91.4 million from December 2023. The company had no short or long-term borrowings as of June 30, 2024, and repaid $35 million in short-term borrowings during H1 2024.
The bank's cost of funds was 1.86%, lower than the Pennsylvania peer group's 2.23%. Assets per employee reached $15.2 million, significantly higher than the peer group's $7.6 million. Nonperforming assets remained low at 0.05% of total assets. Net income for Q2 2024 was $2.5 million ($0.33 per diluted share), and $5.0 million ($0.66 per diluted share) for H1 2024. A dividend of $0.42 per share was declared on June 20, 2024, and paid on July 12, 2024.
On June 20, 2024, Embassy Bancorp announced an annual cash dividend of $0.42 per share, payable on July 12, 2024, to shareholders of record on June 28, 2024. This marks the 15th consecutive year the company has paid a dividend and represents an increase from last year. Chairman and CEO David M. Lobach, Jr. expressed excitement over the bank’s achievements and recognition. Notably, Embassy Bancorp was ranked 45th in American Banker Magazine's top 100 publicly traded community banks and thrifts with under $2 billion in assets, based on three-year average return-on-equity.
Embassy Bancorp (OTCQX: EMYB) reported its Q1 2024 financial results. Loans receivable grew by $17.5 million to $1.271 billion as of March 31, 2024. Cash and cash equivalents stood at $59.5 million, representing 3.6% of total assets. Deposits rose by $33.1 million to $1.509 billion, with non-interest bearing deposits increasing by $8.7 million. The company had no short or long-term borrowings, repaying $35 million in short-term borrowings during the quarter. The bank's cost of funds was 1.71%, significantly lower than the 2.15% of its Pennsylvania peers. The company achieved assets per employee of $15.2 million, more than double its peer group's $7.5 million. Nonperforming assets were minimal at 0.01% of total assets. Net income for Q1 2024 was $2.5 million, or $0.33 per diluted share.
