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Es Bancshares - ESBS STOCK NEWS

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.

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ES Bancshares, Inc. (OTCQX: ESBS) reported a net income of $1.2 million or $0.18 per share for the quarter ending March 31, 2022, an increase from $1.0 million or $0.15 per share in 2021. The growth was mainly due to a $503 thousand decrease in loan loss provisions. Total assets rose 5.19% to $542.5 million, while total deposits increased by $23.1 million to $456.8 million. Net interest income stayed steady at $4.4 million, with a consistent net interest margin of 3.47%. The company's return on average assets improved to 0.91%.

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ES Bancshares, Inc. (OTCQX: ESBS) announced an expected recognition of approximately $1.5 million in noninterest income from the sale of its Branch at 68 North Plank Road, Newburgh, NY, to Wallkill Valley Federal Savings and Loan Association. This transaction, initially disclosed on December 23, 2021, is projected to close during the second quarter of 2022.

The sale is part of the Company’s ongoing business strategy to optimize its operations and generate income.

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ES Bancshares, Inc. (OTCQX: ESBS) has received approval from the New York Department of Financial Services to relocate its home office from Newburgh to Staten Island. This follows an agreement to sell the Newburgh office, expected to finalize in Q2 2022. CEO Philip Guarnieri emphasized that while Newburgh remains significant, the company is refocusing operations towards Brooklyn, Staten Island, Queens, and nearby areas, aligning with its strategic objectives.

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ES Bancshares reported a strong financial performance for the quarter ended December 31, 2021, with a net income of $1.3 million, or $0.20 per share, up from $312 thousand in Q4 2020. Annual earnings reached $4.6 million, significantly surpassing $1.2 million the previous year. Key growth drivers included a 20.9% increase in net interest income to $4.7 million and a higher net interest margin of 3.80%. The company also reported a 15.6% growth in total deposits to $433.7 million.

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ES Bancshares, Inc. (OTCQX: ESBS) has announced a definitive agreement to sell its Newburgh branch to Wallkill Valley Federal Savings and Loan Association. The deal involves the sale of approximately $9 million in loans and $67 million in customer deposits. CEO Philip Guarnieri stated this move aligns with the company's strategy to concentrate on economically vibrant areas like Brooklyn and Staten Island. The branch sale, which is expected to finalize in Q2 2022, aims to be immediately accretive to shareholders.

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ES Bancshares reported improved financial performance for the quarter and nine months ended September 30, 2021. Quarterly net income reached $1.2 million, or $0.18 per share, up from $616 thousand in the same quarter last year. The net interest margin increased to 3.63% from 3.11%, driven by enhanced interest income and reduced borrowing costs. Nine-month earnings were $3.3 million, or $0.49 per share, compared to $893 thousand a year earlier. Total deposits rose to $415.2 million, marking a 17.4% increase year-over-year.

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Empire State Bank has appointed Ralph Branca as Executive Vice President and Chief Credit Officer. Mr. Branca brings over 35 years of community banking experience, particularly in risk management and strategic planning. He previously led Victory State Bank, growing it to a $400 million institution. At Empire State Bank, he will spearhead the lending department, focusing on small to mid-sized businesses. Branca's extensive community involvement positions him to enhance the bank's market presence and support local entrepreneurs.

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ES Bancshares, Inc. (OTCQX: ESBS) reported a net income of $1.1 million for the quarter ended June 30, 2021, a significant increase from $372 thousand in the same period last year. Earnings per share rose to $0.16 from $0.06. Key drivers included a $700 thousand rise in net interest income and a $630 thousand reduction in loan loss provisions. The net interest margin improved to 3.43% from 2.94%. Year-to-date earnings also saw growth, totaling $2.1 million for the first half of 2021, up from $277 thousand in 2020.

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ES Bancshares, Inc. has successfully upgraded to the OTCQX® Best Market from the Pink® market, commencing trading under the symbol 'ESBS.' This shift aims to enhance visibility and transparency for shareholders and investors. The OTCQX® market is known for its high financial standards and corporate governance, enhancing the company's credibility. CEO Philip Guarnieri expressed optimism about the benefits of this transition, emphasizing improved investor communication.

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ES Bancshares, Inc. reported a net income of $1.0 million, or $0.15 per share, for the quarter ended March 31, 2021, a significant turnaround from a $95 thousand loss in the same period of 2020. Key drivers included a $1.3 million increase in net interest income and a $561 thousand reduction in loan loss provisions. The net interest margin improved to 3.48% from 3.02% year-over-year, influenced by a decline in borrowing costs. Total assets rose to $528 million, while loans increased by 24.3%.

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OTC:ESBS

ESBS Rankings

ESBS Stock Data

45.05M
2.31M
0.85%
Banks - Regional
Financial Services
Link
United States
Staten Island