ECB Bancorp Q1 net income rises 140.7% to $3.1 million

ECB Bancorp, Inc.

ECB Bancorp, Inc.

ECBK

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  • ECB Bancorp posted net income of $3.1 million, up 140.7% year over year.
  • Net interest and dividend income climbed 47.9% to $9.8 million, widening net interest margin by 60 basis points to 2.49%.
  • Interest and dividend income rose 22.7% to $21.6 million, while interest expense increased 7.4% to $11.8 million.
  • Total assets grew 2.8% to $1.65 billion, with deposits up 5.9% to $1.2 billion.
  • Provision for credit losses was $153,000 versus a $10,000 benefit a year earlier.


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