ES Bancshares Inc

OTCQX US:ESBSUnited States

Oct 30, 2024

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• -- Earnings Flash (ESBS) ES BANCSHARES Posts Q3 EPS $0.08, from 8:15AM ET on Wednesday Oct 30, 2024 by MT Newswires

  8:15AM ET on Wednesday Oct 30, 2024 by MT Newswires
  Companies Mentioned: ESBS
  08:15 AM EDT, 10/30/2024 (MT Newswires) -- ...

• *DJ ES Bancshares 3Q Net $582,000 >ESBS, from 8:15AM ET on Wednesday Oct 30, 2024 by Dow Jones

  8:15AM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: ESBS
  service fees 315 317 397 958 1,039 Professional fees 155 225 315 561 747 FDIC & NYS Banking Assessments 100 99 71 296 183 Advertising 84 85 107 244 305 Insurance 55 46 54 151 140 Other 365 401 446 1,103 1,198 ----- --------- --- -------- --- ----------- ------- ----------- Total non-interest expense 3,411 3,506 3,975 10,372 11,286 ----- --------- --- -------- --- ----------- ------- ----------- Income prior to tax expense 803 261 172 988 1,802 ----- --------- --- -------- --- ----------- ------- ----------- Income taxes 221 103 39 351 414 ------- ----------- Net Income $ 582 $ 158 $ 133 $ 637 $ 1,388 ===== ========= === ======== === =========== ======= =========== ES Bancshares, Inc. Average Balance Sheet Data For the Three Months Ended (dollars in thousands) ---------------------------------------------------------------------------------------------------------- September 30, 2024 June 30, 2024 September 30, 2023 ---------------------------------- Avg Bal Interest Avg Bal Interest Avg Bal Interest Rolling Rolling Average Rolling Rolling Average Rolling Rolling Average Assets 3 Mos. 3 Mos. Yield/Cost 3 Mos. 3 Mos. Yield/Cost 3 Mos. 3 Mos. Yield/Cost -------- ---------- ------------ -------- ---------- ------------ -------- ---------- ------------ Interest-earning assets: Loans receivable $566,031 $ 7,315 5.17% $565,363 $ 7,345 5.20% $555,919 $ 6,716 4.83% Investment securities 22,480 218 3.87% 15,513 121 3.13% 16,151 111 2.75% Other interest-earning assets 31,656 428 5.29% 41,652 561 5.33% 24,532 319 5.12% Total interest-earning assets 620,167 7,961 5.13% 622,528 8,027 5.16% 596,602 7,146 4.79% Non-interest earning assets 17,919 16,398 17,371 ------- ------- ------- Total assets $638,086 $638,926 $613,973 ======= ======= ======= Liabilities and Stockholders' Equity Interest-bearing liabilities: Interest-bearing checking $ 33,512 $ 55 0.65% $ 36,692 $ 71 0.77% $ 29,162 $ 28 0.38% Savings accounts 200,248 1,728 3.42% 175,686 1,629 3.72% 121,849 536 1.75% Certificates of deposit 173,577 1,891 4.32% 194,806 2,137 4.40% 212,094 1,895 3.54% ------- ------ ------- ------- ------ ------- ------- ------ ------- Total interest-bearing deposits 407,337 3,674 3.58% 407,184 3,837 3.78% 363,105 2,459 2.69% Borrowings 52,984 519 3.89% 55,510 522 3.77% 51,557 488 3.76% Subordinated debenture 12,388 201 6.44% 13,726 221 6.46% 13,695 222 6.41% Total interest-bearing liabilities 472,709 4,394 3.69% 476,420 4,580 3.86% 428,357 3,169 2.93% Non-interest-bearing demand deposits 104,782 102,866 124,711 Other liabilities 13,842 13,429 15,348 Total non-interest-bearing liabilities 118,624 116,295 140,059 Stockholders' equity 46,753 46,211 45,557 ------- ------- ------- Total liabilities and stockholders' equity $638,086 $638,926 $613,973 ======= ======= ======= Net interest income $ 3,567 $ 3,447 $ 3,977 ====== ====== ====== Average interest rate spread 1.45% 1.30% 1.86% Net interest margin 2.30% 2.21% 2.67% Five Quarter Performance Ratio Highlights Three Months Ended ------------------ -------------------------------------------------------- June March September 30, 31, December September 30, 2024 2024 2024 31, 2023 30, 2023 ----------------- ----------- ------ -------- ---------- ----------- Performance Ratios (%) - annualized Return(loss) on Average Assets 0.36 0.10 (0.07) 0.05 0.09 Return(loss) on Average Equity 4.98 1.37 (0.90) 0.73 1.17 Return(loss) on Average Tangible Equity 5.04 1.38 (0.91) 0.74 1.18 Efficiency Ratio 81.70 92.86 101.08 99.31 93.89 Yields / Costs (%) Average Yield - Interest Earning Assets 5.13 5.16 5.03 4.92 4.79 Average Cost - Interest-bearing Liabilities 3.69 3.86 3.82 3.55 2.93 Net Interest Margin 2.30 2.21 2.12 2.28 2.67 Capital Ratios (%) Equity / Assets 7.44 7.12 7.34 7.18 7.24 Tangible Equity / Assets 7.36 7.03 7.26 7.09 7.15 Tier I leverage ratio (a) 9.18 9.30 9.52 9.45 9.54 Common equity Tier I capital ratio (a) 13.67 13.81 13.63 13.60 13.47 Tier 1 Risk-based capital ratio (a) 13.67 13.81 13.63 13.60 13.47 Total Risk-based capital ratio (a) 14.92 15.06 14.88 14.85 14.63 Stock Valuation Book Value $ 6.85 $ 6.74 $ 6.75 $ 6.83 $ 6.79 Tangible Book Value $ 6.77 $ 6.65 $ 6.67 $ 6.74 $ 6.71 Shares Outstanding (b) 6,878 6,884 6,834 6,714 6,714 Asset Quality (%) ACL / Total Loans 0.90 0.90 0.89 0.89 0.89 Non Performing Loans / Total Loans 0.91 0.22 0.24 0.22 0.25 Non Performing Assets / Total Assets 0.81 0.19 0.21 0.22 0.25 (a) Ratios at Bank level (b) Shares information presented in thousands
  

• ES Bancshares, Inc. Announces Third Quarter 2024 Results; Continues Trend of Net Interest Margin Expansion and Revenue Growth, from 8:15AM ET on Wednesday Oct 30, 2024 by Dow Jones

  8:15AM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: ESBS
  service fees 315 317 397 958 1,039 Professional fees 155 225 315 561 747 FDIC & NYS Banking Assessments 100 99 71 296 183 Advertising 84 85 107 244 305 Insurance 55 46 54 151 140 Other 365 401 446 1,103 1,198 ----- --------- --- -------- --- ----------- ------- ----------- Total non-interest expense 3,411 3,506 3,975 10,372 11,286 ----- --------- --- -------- --- ----------- ------- ----------- Income prior to tax expense 803 261 172 988 1,802 ----- --------- --- -------- --- ----------- ------- ----------- Income taxes 221 103 39 351 414 ------- ----------- Net Income $ 582 $ 158 $ 133 $ 637 $ 1,388 ===== ========= === ======== === =========== ======= =========== ES Bancshares, Inc. Average Balance Sheet Data For the Three Months Ended (dollars in thousands) ---------------------------------------------------------------------------------------------------------- September 30, 2024 June 30, 2024 September 30, 2023 ---------------------------------- Avg Bal Interest Avg Bal Interest Avg Bal Interest Rolling Rolling Average Rolling Rolling Average Rolling Rolling Average Assets 3 Mos. 3 Mos. Yield/Cost 3 Mos. 3 Mos. Yield/Cost 3 Mos. 3 Mos. Yield/Cost -------- ---------- ------------ -------- ---------- ------------ -------- ---------- ------------ Interest-earning assets: Loans receivable $566,031 $ 7,315 5.17% $565,363 $ 7,345 5.20% $555,919 $ 6,716 4.83% Investment securities 22,480 218 3.87% 15,513 121 3.13% 16,151 111 2.75% Other interest-earning assets 31,656 428 5.29% 41,652 561 5.33% 24,532 319 5.12% Total interest-earning assets 620,167 7,961 5.13% 622,528 8,027 5.16% 596,602 7,146 4.79% Non-interest earning assets 17,919 16,398 17,371 ------- ------- ------- Total assets $638,086 $638,926 $613,973 ======= ======= ======= Liabilities and Stockholders' Equity Interest-bearing liabilities: Interest-bearing checking $ 33,512 $ 55 0.65% $ 36,692 $ 71 0.77% $ 29,162 $ 28 0.38% Savings accounts 200,248 1,728 3.42% 175,686 1,629 3.72% 121,849 536 1.75% Certificates of deposit 173,577 1,891 4.32% 194,806 2,137 4.40% 212,094 1,895 3.54% ------- ------ ------- ------- ------ ------- ------- ------ ------- Total interest-bearing deposits 407,337 3,674 3.58% 407,184 3,837 3.78% 363,105 2,459 2.69% Borrowings 52,984 519 3.89% 55,510 522 3.77% 51,557 488 3.76% Subordinated debenture 12,388 201 6.44% 13,726 221 6.46% 13,695 222 6.41% Total interest-bearing liabilities 472,709 4,394 3.69% 476,420 4,580 3.86% 428,357 3,169 2.93% Non-interest-bearing demand deposits 104,782 102,866 124,711 Other liabilities 13,842 13,429 15,348 Total non-interest-bearing liabilities 118,624 116,295 140,059 Stockholders' equity 46,753 46,211 45,557 ------- ------- ------- Total liabilities and stockholders' equity $638,086 $638,926 $613,973 ======= ======= ======= Net interest income $ 3,567 $ 3,447 $ 3,977 ====== ====== ====== Average interest rate spread 1.45% 1.30% 1.86% Net interest margin 2.30% 2.21% 2.67% Five Quarter Performance Ratio Highlights Three Months Ended ------------------ -------------------------------------------------------- June March September 30, 31, December September 30, 2024 2024 2024 31, 2023 30, 2023 ----------------- ----------- ------ -------- ---------- ----------- Performance Ratios (%) - annualized Return(loss) on Average Assets 0.36 0.10 (0.07) 0.05 0.09 Return(loss) on Average Equity 4.98 1.37 (0.90) 0.73 1.17 Return(loss) on Average Tangible Equity 5.04 1.38 (0.91) 0.74 1.18 Efficiency Ratio 81.70 92.86 101.08 99.31 93.89 Yields / Costs (%) Average Yield - Interest Earning Assets 5.13 5.16 5.03 4.92 4.79 Average Cost - Interest-bearing Liabilities 3.69 3.86 3.82 3.55 2.93 Net Interest Margin 2.30 2.21 2.12 2.28 2.67 Capital Ratios (%) Equity / Assets 7.44 7.12 7.34 7.18 7.24 Tangible Equity / Assets 7.36 7.03 7.26 7.09 7.15 Tier I leverage ratio (a) 9.18 9.30 9.52 9.45 9.54 Common equity Tier I capital ratio (a) 13.67 13.81 13.63 13.60 13.47 Tier 1 Risk-based capital ratio (a) 13.67 13.81 13.63 13.60 13.47 Total Risk-based capital ratio (a) 14.92 15.06 14.88 14.85 14.63 Stock Valuation Book Value $ 6.85 $ 6.74 $ 6.75 $ 6.83 $ 6.79 Tangible Book Value $ 6.77 $ 6.65 $ 6.67 $ 6.74 $ 6.71 Shares Outstanding (b) 6,878 6,884 6,834 6,714 6,714 Asset Quality (%) ACL / Total Loans 0.90 0.90 0.89 0.89 0.89 Non Performing Loans / Total Loans 0.91 0.22 0.24 0.22 0.25 Non Performing Assets / Total Assets 0.81 0.19 0.21 0.22 0.25 (a) Ratios at Bank level (b) Shares information presented in thousands