ES Bancshares, Inc. Leadership and Directors Purchase Common Shares
On March 14, 2023, ES Bancshares (OTCQX: ESBS) announced that its executive officers and Board members collectively purchased around 16,000 shares of common stock. The shares were acquired in open market transactions at an average price of $4.67 per share. This significant insider buying indicates management's confidence in the company's future. ES Bancshares is the holding company for Empire State Bank, which operates primarily in New York, focusing on commercial and retail deposits and offering various loans, including commercial real estate and mortgage loans.
- Insider buying of approximately 16,000 shares demonstrates confidence in the company's performance.
- Shares purchased at an average price of $4.67 may indicate potential undervaluation.
- None.
STATEN ISLAND, N.Y., March 14, 2023 (GLOBE NEWSWIRE) -- ES Bancshares, Inc. (OTCQX: ESBS) (the “Company”) today announced that executive officers and Board members of the Company purchased approximately 16,000 shares of the Company’s common stock in March 2023. The shares were purchased in open market transactions at an average per share price of
About ES Bancshares Inc.
ES Bancshares, Inc. (the “Company”) is incorporated under Maryland law and serves as the holding company for Empire State Bank (the “Bank”). The Company is subject to regulation by the Board of Governors of the Federal Reserve System (the “FRB”) while the Bank is primarily subject to regulation and supervision by the New York State Department of Financial Services. Currently, the Company does not transact any material business other than through the Bank, its subsidiary.
The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency (OCC). The Bank's deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter. The Bank’s principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans including SBA and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities (“MBS”), securities issued by the U.S. Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations.
The Company operates from five Banking Center locations, along with two loan centers located in Queens and Staten Island loan centers in addition to the Corporate Headquarters in Staten Island, New York. The Bank’s five Banking Centers are located throughout Staten Island and Brooklyn, New York. The Company’s website address is www.esbna.com. The Company’s annual report, quarterly earnings releases and all press releases are available free of charge through its website, as soon as reasonably practicable.
Investor Contact:
Peggy Edwards, Corporate Secretary
(845) 451-7825
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