Embassy Bancorp, Inc. Announces Results of Operations for the Year Ended December 31, 2024
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) ha pubblicato il suo Rapporto Annuale per il 2024, mostrando una solida performance finanziaria. L'azienda ha riportato un utile netto di 10,4 milioni di dollari (1,37 dollari per azione diluita) e ha mantenuto una forte liquidità con 96,5 milioni di dollari in contante e equivalenti, che rappresentano il 5,7% del totale degli attivi.
I depositi sono cresciuti fino a 1,55 miliardi di dollari, segnando un aumento di 76,7 milioni di dollari rispetto al 2023, senza depositi intermediati. Il margine di interesse netto della banca è migliorato al 2,28% nel quarto trimestre del 2024, rispetto al 2,21% del terzo trimestre. Il costo dei fondi della banca, pari all'1,91%, ha superato il 2,32% del gruppo di pari in Pennsylvania.
Un'efficienza operativa notevole è dimostrata da attivi per dipendente di 15,2 milioni di dollari, significativamente superiore agli 8,1 milioni di dollari del gruppo di pari. La banca mantiene una forte qualità degli attivi con attivi non performanti a solo lo 0,14% del totale degli attivi, migliore dello 0,29% del gruppo di pari.
Embassy Bancorp (OTCQX: EMYB) ha publicado su Informe Anual para 2024, mostrando un sólido desempeño financiero. La compañía reportó un ingreso neto de 10,4 millones de dólares (1,37 dólares por acción diluida) y mantuvo una fuerte liquidez con 96,5 millones de dólares en efectivo y equivalentes, representando el 5,7% del total de activos.
Los depósitos crecieron a 1,55 mil millones de dólares, marcando un aumento de 76,7 millones de dólares respecto a 2023, sin depósitos intermediados. El margen de interés neto del banco mejoró al 2,28% en el cuarto trimestre de 2024, subiendo desde el 2,21% en el tercer trimestre. El costo de los fondos del banco, al 1,91%, superó el 2,32% del grupo de pares de Pennsylvania.
Una notable eficiencia operativa se demuestra con activos por empleado de 15,2 millones de dólares, significativamente más alto que los 8,1 millones de dólares del grupo de pares. El banco mantiene una fuerte calidad de activos con activos no productivos en solo el 0,14% del total de activos, mejor que el 0,29% del grupo de pares.
Embassy Bancorp (OTCQX: EMYB)가 2024년 연례 보고서를 발표하며 견고한 재무 성과를 보여주었습니다. 이 회사는 순이익 1,040만 달러 (희석 주당 1.37달러)를 보고하였고, 9,650만 달러의 현금 및 현금성 자산으로 강력한 유동성을 유지하고 있으며, 이는 총 자산의 5.7%를 차지합니다.
예금은 15억 5천만 달러로 증가하여 2023년 대비 7,670만 달러 증가하였으며, 중개 예금은 없습니다. 은행의 순이자 마진은 2024년 4분기에 2.28%로 개선되었으며, 이는 3분기의 2.21%에서 상승한 수치입니다. 은행의 자금 조달 비용은 1.91%로 펜실베이니아 동종 그룹의 2.32%를 초과했습니다.
주목할 만한 운영 효율성은 직원당 자산 1,520만 달러로 나타나며, 이는 동종 그룹의 810만 달러보다 상당히 높습니다. 은행은 비수익 자산이 총 자산의 0.14%에 불과하여 동종 그룹의 0.29%보다 더 나은 강력한 자산 품질을 유지하고 있습니다.
Embassy Bancorp (OTCQX: EMYB) a publié son Rapport Annuel pour 2024, montrant une solide performance financière. La société a rapporté un revenu net de 10,4 millions de dollars (1,37 dollar par action diluée) et a maintenu une forte liquidité avec 96,5 millions de dollars en liquidités et équivalents, représentant 5,7% de l'actif total.
Les dépôts ont augmenté pour atteindre 1,55 milliard de dollars, marquant une augmentation de 76,7 millions de dollars par rapport à 2023, sans dépôts intermédiaires. La marge d'intérêt nette de la banque s'est améliorée à 2,28% au quatrième trimestre de 2024, contre 2,21% au troisième trimestre. Le coût des fonds de la banque à 1,91% a surpassé le 2,32% du groupe de pairs en Pennsylvanie.
Une efficacité opérationnelle notable est démontrée par des actifs par employé de 15,2 millions de dollars, nettement supérieure aux 8,1 millions de dollars du groupe de pairs. La banque maintient une forte qualité d'actifs avec des actifs non performants représentant seulement 0,14% de l'actif total, mieux que les 0,29% du groupe de pairs.
Embassy Bancorp (OTCQX: EMYB) hat seinen Jahresbericht für 2024 veröffentlicht, der eine solide finanzielle Leistung zeigt. Das Unternehmen meldete Nettoerträge von 10,4 Millionen Dollar (1,37 Dollar pro verwässerter Aktie) und hielt eine starke Liquidität mit 96,5 Millionen Dollar in Bargeld und Zahlungsmitteln, was 5,7% der Gesamtaktiva entspricht.
Die Einlagen wuchsen auf 1,55 Milliarden Dollar, was einem Anstieg von 76,7 Millionen Dollar im Vergleich zu 2023 entspricht, ohne vermittelte Einlagen. Die Nettozinsmarge der Bank verbesserte sich im 4. Quartal 2024 auf 2,28%, von 2,21% im 3. Quartal. Die Kosten der Mittel der Bank lagen bei 1,91% und übertrafen die 2,32% der Peer-Gruppe in Pennsylvania.
Eine bemerkenswerte betriebliche Effizienz zeigt sich in Aktiva pro Mitarbeiter von 15,2 Millionen Dollar, was deutlich höher ist als die 8,1 Millionen Dollar der Peer-Gruppe. Die Bank hält eine starke Asset-Qualität mit notleidenden Aktiva von nur 0,14% der Gesamtaktiva, besser als die 0,29% der Peer-Gruppe.
- Deposits grew by $76.7 million to $1.55 billion
- Net interest margin improved to 2.28% in Q4 2024
- Lower cost of funds (1.91%) compared to peer group (2.32%)
- Superior operational efficiency with $15.2M assets per employee vs peer $8.1M
- Strong asset quality with only 0.14% nonperforming assets
- Healthy liquidity with $96.5M cash on hand (5.7% of assets)
- All short-term borrowings ($15.6M) repaid in January 2025
- None.
BETHLEHEM, Pa., March 19, 2025 (GLOBE NEWSWIRE) -- On March 17, 2025, Embassy Bancorp, Inc. (OTCQX: EMYB) (the “Company”) filed its Annual Report on Form 10-K for the year ended December 31, 2024, a copy of which can be found at https://investors.embassybank.com/sec-filings/documents/default.aspx.
Highlights of the filing, which includes consolidated financial information of the Company and Embassy Bank For the Lehigh Valley (the “Bank”), the Company’s wholly-owned subsidiary, include:
- Cash and cash equivalents on hand of
$96.5 million at December 31, 2024, or5.7% of total assets. - Deposits of
$1.55 billion at December 31, 2024, an increase of$76.7 million from$1.48 billion at December 31, 2023. The Company does not have any brokered deposits. - Short term borrowings of
$15.6 million at December 31, 2024 were repaid in full on January 2, 2025. - Bank net interest margin (FTE) increased to
2.28% for the quarter ended December 31, 2024, up from2.21% for the quarter ended September 30, 2024. - Bank cost of funds of
1.91% for the quarter ended December 31, 2024, compared to a Pennsylvania peer group (stock banks headquartered in Pennsylvania with assets between$100 million and$5 billion ) cost of funds of2.32% . - Bank assets per employee of
$15.2 million at December 31, 2024, compared to the Pennsylvania peer group assets per employee of$8.1 million . - Bank nonperforming assets to total assets of only
0.14% as of December 31, 2024, compared to the Pennsylvania peer group total of0.29% . - Net income of
$10.4 million , or$1.37 per diluted share, for the year ended December 31, 2024.
About Embassy Bancorp, Inc.
With over
Safe Harbor for Forward-Looking Statements
This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: ineffectiveness of the company’s business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; difficulties in integrating distinct business operations, including information technology difficulties; volatilities in the securities markets; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Embassy Bancorp, Inc.’s filings with the Securities and Exchange Commission (SEC). The statements are valid only as of the date hereof and Embassy Bancorp, Inc. disclaims any obligation to update this information.
Contact:
David M. Lobach, Jr.
Chairman, President and CEO
(610) 882-8800
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