ECB Bancorp Inc. Reports 82% Increase in Q2 Net Income to $1.4 Million, EPS Rises to $0.17

ECB Bancorp, Inc. (NASDAQ-ECBK), the holding company for Everett Co-operative Bank, reported a significant increase in net income for the quarter ended June 30, 2025. The company achieved a net income of $1.4 million, or $0.17 per diluted share, marking an increase of $649,000 or 82.0% compared to the net income of $791,000, or $0.09 per diluted share, reported for the same period in 2024. For the six months ended June 30, 2025, ECB Bancorp's net income was $2.7 million, or $0.33 per diluted share, reflecting an increase of $1.3 million or 93.8% from $1.4 million, or $0.17 per diluted share, in the same period in 2024. The net interest margin improved by 16 basis points to 1.99% for the six months ended June 30, 2025, compared to 1.83% for the same period in 2024. The provision for credit losses increased to $1.1 million from $438,000, driven by greater loan growth. This resulted in net interest and dividend income after provision for credit losses of $13.2 million for the first half of 2025, up from $11.5 million in the prior year, an increase of $1.7 million or 15.0%. Noninterest income also rose to $355,000 for the quarter ended June 30, 2025, compared to $289,000 for the same quarter in 2024. The company's asset quality remains strong, with total non-performing assets reducing to $1.3 million, or 0.08% of total assets, as of June 30, 2025, from $2.0 million, or 0.14%, as of December 31, 2024. However, net charge-offs increased to $83,000 for the first half of 2025 from $3,000 in the same period of 2024. Looking ahead, ECB Bancorp's President and CEO Richard J. O'Neil, Jr. noted the company's enjoyment of a more stable interest rate environment and expressed confidence in continued strategic growth and strong credit quality, while emphasizing the importance of expense management and improved efficiency.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ECB Bancorp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-25-023350), on July 24, 2025, and is solely responsible for the information contained therein.