Short answer
ECB Bancorp, Inc. /MD/ (ECBK) filed its fiscal 2024 10-K annual report with the SEC on Mar 26, 2025. It reported revenue of $577,000 (−98.9% year over year) and net income of $4M.
FY2024 key financial metrics · XBRL
- Revenue
- $577,000
- −98.9% YoY
- Net income
- $4M
- −10.4% YoY
- EPS (diluted)
- $0.48
- −7.7% YoY
- ROE
- 2.4%
- −0.3 pp YoY
- Operating cash flow
- $6M
- −2.1% YoY
Source: XBRL data from the ECB Bancorp, Inc. /MD/ (ECBK) FY2024 10-K on SEC EDGAR. USD.
ECB Bancorp, Inc. /MD/ FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Banking services including dividend payments constrained by Federal Reserve regulatory policies
- Emphasis on compliance with Federal Reserve Board capital and dividend distribution guidance for fiscal year 2025
- No new products or segments introduced or highlighted in this filing year
- Stock-based compensation plans active with updated data as of December 31, 2024, detailed in Note 10
- Dividend payments limited by capital conservation buffer requirements, potentially reducing future shareholder returns
Management Discussion & Analysis
- Revenue interest and dividend income $67.0M, up 22.4% YoY from $54.8M, driven by $9.5M loan interest increase and higher yields (5.24% vs 4.86%)
- Net income $4.0M, down 10.4% YoY from $4.5M; net interest margin 1.86% vs 2.11% due to higher interest expense increasing 40.3% to $42.1M
- Best segment multifamily loans $344.0M (+19.7% YoY); worst construction loans down 18.8% to $90.9M
- Deposits up 15.0% to $998.5M led by $107.0M CD increase; FHLB advances stable at $234.0M; no explicit capital allocation or buyback amounts disclosed here
- Management focused on growing commercial and multifamily loan portfolios while maintaining asset quality; risk from economic, market, and regulatory conditions noted
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