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Bank holding companies

ES Bancshares Reports Net Income of $546,000, or $0.08 per Diluted Share, in Q1 2025

Strategic Insights

— 1 min read

ES Bancshares, the holding company for Empire State Bank, reported net income of $546,000, or $0.08 per diluted share, for the quarter ended March 31, 2025. This compares to a net income of $466,000, or $0.07 per diluted share, for the quarter ended December 31, 2024.

Key Takeaways:

  • The Cost of Funds for the three months ended March 31, 2025, improved to 2.69% from 2.87% in the prior linked quarter.
  • The Company's net interest margin increased to 2.68% for the three months ended March 31, 2025, compared to 2.50% for the three months ended December 31, 2024.
  • The Company sold $3 million in SBA 7a loan during the quarter, resulting in a gain on loan sale.
  • Net interest income for the three months ended March 31, 2025, increased $236,000 to $4.1 million from $3.9 million at three months ended December 31, 2024.
  • Book value for the quarter ended March 31, 2025, totaled $6.97 per share, increasing for the fourth consecutive quarter.
  • Return on average assets (%) for the three months ended March 31, 2025, was 0.35% compared to 0.29% for the three months ended December 31, 2024.
  • Return on average equity (%) for the three months ended March 31, 2025, was 4.53% compared to 3.94% for the three months ended December 31, 2024.
  • Non-interest revenue for the three months ended March 31, 2025, totaled $349,000, decreasing $23,000 compared to $372,000 for the three months ended December 31, 2024.

Statistics:

  • Net income for the three months ended March 31, 2025, totaled $546,000.
  • Net income for the three months ended December 31, 2024, totaled $466,000.
  • Return on average assets (%) for the three months ended March 31, 2025, was 0.35%.
  • Return on average equity (%) for the three months ended March 31, 2025, was 4.53%.
  • Net interest income for the three months ended March 31, 2025, totaled $4,112,000.
  • Net interest margin for the three months ended March 31, 2025, was 2.68%.
  • Total assets as of March 31, 2025, totaled $631.5 million.
  • Total liabilities as of March 31, 2025, totaled $583.2 million.
  • Book value per share as of March 31, 2025, totaled $6.97.

Sources:

  • GlobeNewswire (MIL-OSI)
  • ES Bancshares, Inc. Consolidated Statements of Financial Condition (in thousands)

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