Welcome to our dedicated page for Es Bancshares news (Ticker: ESBS), a resource for investors and traders seeking the latest updates and insights on Es Bancshares stock.
ES Bancshares, Inc. (ESBS) provides this centralized news resource for stakeholders tracking this New York-focused community bank. Find official press releases and financial updates covering ESBS's deposit strategies, loan portfolio management, and regulatory compliance activities.
This page aggregates essential updates including quarterly earnings reports, regulatory filings, and community banking initiatives. Investors can monitor the company's progress in maintaining low-cost deposit bases and managing commercial real estate loan portfolios while adhering to FDIC guidelines.
Key updates include developments in SBA lending programs, net interest margin optimization, and local community reinvestment efforts. The collection serves as a historical record of ESBS's operational decisions and market positioning within New York regional banking.
Bookmark this page for streamlined access to verified ES Bancshares communications. Check regularly for updates on financial performance metrics, leadership announcements, and strategic initiatives affecting this community-focused financial institution.
ES Bancshares (OTCQX: ESBS) reported Q1 2025 net income of $546 thousand ($0.08 per diluted share), up from $466 thousand in Q4 2024. Key highlights include:
- Net interest margin increased to 2.68% from 2.50% in Q4 2024
- Cost of funds improved to 2.69% from 2.87%
- Total assets were $631.5 million, down 0.8% from Q4 2024
- Book value per share rose to $6.97, marking fourth consecutive quarterly increase
The bank maintained strong capital ratios with Tier 1 leverage ratio at 9.46% and total capital ratio at 15.06%. Nonperforming assets slightly increased to 0.86% of total assets. Net interest income grew by $236 thousand to $4.1 million, while non-interest expenses increased to $3.7 million due to higher professional fees and compensation.
ES Bancshares (OTCQX: ESBS) reported Q4 2024 net income of $466,000 ($0.03 per diluted share), compared to $582,000 ($0.08 per diluted share) in Q3 2024. The company's net interest margin improved to 2.50% from 2.30% in the previous quarter.
Total assets were $636.6 million as of December 31, 2024, a slight decrease of 0.3% year-over-year. Loans receivable decreased 0.8% from December 31, 2023. Nonperforming assets increased to $5.3 million (0.84% of total assets) from $1.4 million year-over-year, primarily due to two loans placed on non-accrual status.
The company replaced $56 million of higher-cost wholesale funding with lower-cost organic deposits in 2024. Total revenues for Q4 2024 were $8.4 million, showing consecutive quarterly growth. The bank maintained strong capital ratios, with a Tier 1 leverage ratio of 9.31% and total capital ratio of 14.93%.
ES Bancshares reported Q3 2024 net income of $582,000 ($0.08 per diluted share), up from $158,000 ($0.02 per share) in Q2 2024. The company's net interest margin improved to 2.30% from 2.21% in Q2. Total revenues reached $8.6 million, marking eight consecutive quarters of growth. The company repurchased $2 million of sub-debt and replaced $56 million of higher-cost wholesale funding with lower-cost organic deposits. Total assets were $633.2 million, down 0.9% from December 2023. Nonperforming assets increased to $5.1 million (0.81% of total assets) from $1.4 million in December 2023.
ES Bancshares, Inc. (OTCQX: ESBS) reported a net income of $158,000 or $0.02 per diluted common share for Q2 2024, compared to a net loss of $103,000 in Q1 2024. Key highlights include:
• 10% increase in retail deposits from December 31, 2023
• Net interest margin expansion to 2.21% from 2.12% in Q1 2024
• Replacement of $30 million high-cost wholesale funding with lower-cost organic deposits
• 7% increase in total revenues to $8.4 million compared to Q1 2024
The company's focus on realigning the deposit portfolio and bringing in core low-cost deposits has shown progress. Total assets increased by 2% to $651.7 million, while loans receivable decreased slightly by 0.7%. The Allowance for Credit Losses on Loans stood at 0.90% of gross loans.
ES Bancshares (OTCQX: ESBS) reported its first-quarter 2024 results, showing a net loss of $103 thousand or $0.02 per diluted share, compared to a net income of $84 thousand or $0.01 per diluted share in the previous quarter. Key metrics include a 3.4% growth in average deposits and a stable average loan balance. Non-interest expenses decreased by $295 thousand or 8%, while net interest margin narrowed to 2.12% from 2.28%. Non-performing loans and assets ratios remained low at 0.24% and 0.21%, respectively. Total assets decreased by $10.1 million to $628.6 million, primarily due to the repayment of wholesale funding. The bank's capital ratios remained strong, with a Tier 1 capital leverage ratio of 9.52%. No shares were repurchased under the stock repurchase program. Book value per share decreased slightly to $6.75.
ES Bancshares, Inc. reported a net loss of $103 thousand for Q1 2024, compared to net income of $84 thousand for Q4 2023. The company reduced wholesale funding, grew average deposits by 3.4%, and saw a decrease in non-interest expenses by 8%. Net interest margin narrowed to 2.12%, and non-performing asset ratios remained favorable. Total assets decreased by 1.6%, total liabilities decreased by $10.4 million, and the company maintained strong capital ratios. The company did not repurchase shares in Q1 2024.
