ECBK · ECB Bancorp, Inc.

ECB Bancorp, Inc. announced strong first quarter 2026 results, with net income rising to $3.1 million, or $0.38 per diluted share, compared to $2.6 million, or $0.31 per diluted share, in the prior quarter. The improvement was primarily driven by a 7.5% increase in net interest and dividend income, which reached $9.8 million. This growth was fueled by higher average loan balances, improved loan yields, increased loan prepayment fee income, and a decline in the average cost of interest-bearing liabilities. Consequently, the net interest margin expanded by 17 basis points to 2.49%. The provision for credit losses decreased to $153,000 from $241,000 in the prior quarter, attributed to slower loan growth in the current period compared to the prior quarter. Balance sheet strength was evident as total assets increased 2.8% to $1.65 billion. Deposit growth was particularly robust, rising 5.9% to $1.20 billion, outpacing loan growth of 1.4%. This deposit inflow drove a 28.0% increase in cash and cash equivalents. Asset quality remained solid, with total non-performing assets stable at 0.07% of total assets and zero net charge-offs recorded for the quarter. The efficiency ratio improved to 56.54% from 60.80%, reflecting prudent expense management. CEO Richard J. O’Neil, Jr. highlighted the success of focusing on core banking fundamentals and discussed ongoing expansion efforts, including a new branch in Medford, Massachusetts.