Embassy Bancorp, Inc. reported a net income of $2.9 million for the first quarter of 2025, reflecting a 13.8% increase from $2.5 million in the same period of 2024. This growth translated to basic and diluted earnings per share of $0.38, up from $0.33 year-over-year. The increase in net income was primarily driven by a rise in interest income, which increased by $1.8 million to $16.9 million, while interest expense also rose by $732,000 to $7.1 million. The net interest income for the quarter was $9.8 million, compared to $8.7 million in the prior year, indicating a favorable shift in the bank's interest margin.
Total assets for Embassy Bancorp increased to $1.75 billion as of March 31, 2025, up from $1.70 billion at the end of 2024. This growth was attributed to a $46.2 million increase in securities available for sale and a $4.5 million rise in net loans receivable, despite a slight decrease in other assets. The bank's total deposits also saw a significant increase of $59 million, reaching $1.61 billion, driven by a rise in interest-bearing deposits. The bank's loan portfolio remained stable at $1.26 billion, with a slight increase of $4.5 million, reflecting ongoing competitive pressures in the lending market.
In terms of operational metrics, the bank's allowance for credit losses stood at $12.2 million, representing 0.96% of total loans, consistent with the previous quarter. The ratio of non-performing loans to total loans was 0.04%, indicating strong credit quality. The bank's employee headcount increased to 114, up from 109 a year earlier, reflecting ongoing investments in personnel to support growth initiatives.
Looking ahead, Embassy Bancorp remains focused on expanding its market presence and enhancing customer relationships through effective marketing and service strategies. The bank is also monitoring interest rate risks closely, as fluctuations could impact its net interest income. Management expressed confidence in the bank's ability to navigate the competitive landscape and maintain its financial health, supported by a solid capital base and a commitment to responsible lending practices.
About Embassy Bancorp, Inc.
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