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. (OTCQX: ESBS), the holding company for Empire State Bank, regularly issues detailed financial updates that are of interest to investors following regional banks and savings institutions. Company news is released primarily through quarterly and annual earnings announcements, as well as occasional corporate updates related to tax credits and funding.
On this page, readers can review ESBS news covering net income trends, net interest margin movements, loan and deposit balances, and changes in non-interest income and expenses. The Company’s releases often include sections such as “Key Quarterly Financial Data,” “Selected Balance Sheet Information,” and “Financial Performance Overview,” which explain how factors like deposit mix, borrowing costs, and loan portfolio performance affect results.
News items also describe asset quality metrics, including nonperforming assets, nonaccrual loans, and the allowance for credit losses on loans, as well as commentary on capital ratios and the Bank’s status relative to “well-capitalized” regulatory benchmarks. In addition, ES Bancshares has reported on the receipt of Employee Retention Tax Credits and related impacts on non-interest income and tax accounting.
Investors and analysts can use this ESBS news feed to follow developments in Empire State Bank’s commercial real estate lending, SBA and other commercial lending activities, one-to-four-family residential mortgage lending, and deposit gathering in New York. For ongoing insight into ES Bancshares’ financial performance and balance sheet trends, this page aggregates the Company’s recent press releases in one place.
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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.
ES Bancshares, Inc. (OTCQX: ESBS) announced that its executive officers and Board members purchased approximately 26,400 shares of common stock in December 2022, at an average price of $4.55 per share. CEO Phil Guarnieri highlighted that these insider purchases reflect strong confidence in the company's business fundamentals and growth potential. ES Bancshares operates as the holding company for Empire State Bank, which offers commercial and retail banking services primarily in New York. The bank, chartered in 2004, focuses on commercial real estate and residential loans, ensuring deposits are FDIC insured.
ES Bancshares reported a net income of $843 thousand, or $0.13 per share, for Q4 2022. Key metrics include net revenues of $4.8 million, driven by $4.4 million in net interest income, and a 20% annual increase in average loans. Total assets rose to $588 million, marking a record high. The company recognized a $100 thousand provision for loan losses, contrasting with no provisions in the prior quarter. Despite rising funding costs, the net interest margin remained stable at 3.26%. Noninterest income increased to $357 thousand due to higher loan fees. ES Bancshares maintains a solid capital position, with key ratios exceeding regulatory requirements.
ES Bancshares, Inc. (OTCQX: ESBS) announced that its executive officers and Board members purchased around 27,600 shares between September and November 2022. These shares were bought in open market transactions at an average price of $4.58 per share. CEO Phil Guarnieri emphasized that these purchases indicate the board and executives' confidence in the business, aligning their interests with those of shareholders. The Company mainly operates through its subsidiary, Empire State Bank, focusing on commercial and retail deposits and various investment activities.
ES Bancshares, Inc. (OTCQX: ESBS) reported a net income of $872 thousand, or $0.13 per diluted share, for Q3 2022, a decrease from $2.4 million in Q2 2022. Key highlights include a net interest margin of 3.27% and net revenues of $4.5 million. Average loans rose by 8% quarter-over-quarter, while average deposits fell by 6% due to a branch sale. Total assets increased by 8.9% to $561.8 million. Non-performing assets decreased to $1.7 million, showing strong asset quality. The Company remains optimistic about its growth trajectory despite a tighter net interest margin and reduced non-interest income.