Financial Position - Total assets increased by $149.3 million, or 14.0%, to $1.21 billion at September 30, 2023, from $1.06 billion at December 31, 2022[145] - Cash and cash equivalents rose by $35.3 million, or 56.9%, to $97.4 million at September 30, 2023, from $62.1 million at December 31, 2022[146] - Net loans increased by $111.7 million, or 12.6%, to $997.4 million at September 30, 2023, from $885.7 million at December 31, 2022[146] - Deposits increased by $94.4 million, or 13.1%, to $812.5 million at September 30, 2023, from $718.1 million at December 31, 2022[149] - Federal Home Loan Bank advances rose by $50.0 million, or 28.7%, to $224.0 million at September 30, 2023, from $174.0 million at December 31, 2022[150] - Total shareholders' equity increased by $2.8 million, or 1.7%, to $165.5 million at September 30, 2023, from $162.7 million at December 31, 2022[151] Income Statement - Net income for the three months ended September 30, 2023, was $1.3 million, compared to a net loss of $1.0 million for the same period in 2022[152] - Interest and dividend income increased by $6.4 million, or 82.5%, to $14.2 million for the three months ended September 30, 2023, from $7.8 million for the same period in 2022[153] - Net interest and dividend income decreased by $453,000, or 6.9%, to $6.1 million for the three months ended September 30, 2023, compared to $6.5 million for the same period in 2022[156] - Noninterest income increased by $94,000, or 41.2%, to $322,000 for the three months ended September 30, 2023, from $228,000 in the same period of 2022[158] - Noninterest expense decreased by $2.5 million, or 34.1%, to $4.8 million for the three months ended September 30, 2023, down from $7.3 million in the same period of 2022[159] - Income tax expense increased by $866,000, or 203.3%, to $440,000 for the three months ended September 30, 2023, from an income tax benefit of $426,000 in the same period of 2022[160] Loan and Asset Management - The average balance of the loan portfolio increased by $324.1 million to $1.0 billion for the three months ended September 30, 2023[153] - The yield on loans increased by 69 basis points to 4.88% during the three months ended September 30, 2023, from 4.19% during the same period in 2022[153] - Average interest-earning assets increased by $368.5 million, reaching $1.17 billion for the three months ended September 30, 2023, compared to $797.8 million for the same period in 2022[154] - The yield on interest-earning assets rose by 90 basis points to 4.75% for the three months ended September 30, 2023, up from 3.85% in the prior year[154] - The average balance of interest-earning assets increased by $420.2 million to $1.13 billion, with the yield on these assets rising by 102 basis points to 4.67%[169] Interest Expense and Margin - Total interest expense surged by $6.9 million, or 561.2%, to $8.1 million for the three months ended September 30, 2023, from $1.2 million in the same period of 2022[155] - Total interest expense surged by $18.4 million, or 695.9%, to $21.0 million for the nine months ended September 30, 2023, primarily due to a 228 basis point increase in the cost of interest-bearing deposits[170] - The net interest margin decreased to 2.18% from 3.16% year-over-year, indicating a decline in profitability from interest-earning assets[180] Credit Losses and Provisions - A benefit of $184,000 was recorded for the provision for credit losses for the three months ended September 30, 2023, compared to a provision of $925,000 in the same period of 2022, marking a decrease of $1.1 million, or 119.9%[157] - Provision for credit losses decreased by $1.1 million, or 61.3%, to $696,000, reflecting lower loan growth compared to the previous year[172] Taxation - The effective tax rate was 24.7% for the three months ended September 30, 2023, compared to 29.2% for the same period in 2022[160] - Income tax expense increased by $869,000, or 220.6%, to $1.3 million, with an effective tax rate of 25.6% for the nine months ended September 30, 2023[175] Overall Performance - Net income for the nine months ended September 30, 2023, was $3.7 million, up from $1.7 million for the same period in 2022, representing a significant increase[167] - Interest and dividend income rose by $20.4 million, or 104.8%, to $39.9 million for the nine months ended September 30, 2023, driven by a $17.3 million increase in interest and fees on loans[168] - Total loans increased to $981.1 million with a net interest income of $18.4 million for the nine months ended September 30, 2023, compared to $16.8 million in 2022, reflecting a growth of 9.7%[179] Regulatory and Capital Position - The company is categorized as well-capitalized and exceeds all regulatory capital requirements as of September 30, 2023[192] - The liquidity position is continuously monitored, with management anticipating sufficient funds to meet current funding commitments[191]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________ to ______________________ Commission File Number: 001-41456 ECB Bancorp, Inc. (Exact Name of Registrant as Specified in its Charter) Mar ...

Financial Position - Total assets increased by $92.4 million, or 8.7%, to $1.16 billion at March 31, 2023, from $1.06 billion at December 31, 2022[132] - Shareholders' equity increased by $351,000, or 0.2%, to $163.1 million at March 31, 2023, primarily due to net income of $901,000[138] - Cash and cash equivalents increased by $5.3 million, or 8.5%, to $67.3 million at March 31, 2023, attributed to higher deposits and borrowings[133] - Federal Home Loan Bank advances increased by $34.0 million, or 19.5%, to $208.0 million at March 31, 2023, to support loan growth and liquidity[137] - As of March 31, 2023, the company exceeded all regulatory capital requirements and was categorized as well-capitalized[162] Loan and Deposit Activity - Net loans increased by $85.6 million, or 9.7%, to $971.2 million at March 31, 2023, with significant growth in commercial real estate loans by $36.3 million, or 23.2%[134] - Deposits increased by $56.3 million, or 7.8%, to $774.4 million at March 31, 2023, driven by a $76.0 million increase in certificates of deposit, or 23.8%[136] - Core deposits decreased by $19.8 million, or 5.0%, to $378.6 million at March 31, 2023, from $398.3 million at December 31, 2022[136] - The company originated and purchased $109.6 million in loans during the three months ended March 31, 2023, compared to $557.5 million for the year ended December 31, 2022[158] - Net increases in deposits were $56.3 million for the three months ended March 31, 2023, and $146.4 million for the year ended December 31, 2022[159] - The level of brokered time deposits increased from $100.8 million at December 31, 2022, to $112.7 million at March 31, 2023[159] Income and Expenses - Net income for the three months ended March 31, 2023, was $901,000, a decrease from $1.4 million for the same period in 2022[139] - Interest and dividend income rose by $6.5 million, or 115.0%, to $12.1 million for the three months ended March 31, 2023, primarily due to a $5.7 million increase in interest and fees on loans[140] - Total interest expense increased by $5.0 million, or 725.5%, to $5.7 million for the three months ended March 31, 2023, compared to $690,000 for the same period in 2022[142] - Net interest and dividend income rose by $1.4 million, or 29.4%, to $6.4 million for the three months ended March 31, 2023, from $4.9 million in the prior year[143] - Noninterest income decreased by $22,000, or 8.8%, to $229,000 for the three months ended March 31, 2023, from $251,000 in the prior year[145] - Noninterest expense increased by $1.3 million, or 41.7%, to $4.5 million for the three months ended March 31, 2023, driven by higher salaries and professional fees[146] - Income tax expense decreased by $176,000, or 35.6%, to $319,000 for the three months ended March 31, 2023, from $495,000 in the prior year[146] Asset and Interest Metrics - Average interest-earning assets increased by $433.4 million to $1.08 billion for the three months ended March 31, 2023[141] - Average balance of interest-bearing deposits increased by $168.4 million, or 34.2%, to $660.8 million for the three months ended March 31, 2023, from $492.4 million in the prior year[142] - The average balance of net interest-earning assets increased by $226.7 million during the three months ended March 31, 2023[143] - The net interest margin decreased by 70 basis points to 2.38% for the three months ended March 31, 2023, from 3.08% for the same period in 2022[143] Liquidity and Commitments - At March 31, 2023, the company had outstanding advances of $208.0 million from the Federal Home Loan Bank and unused borrowing capacity of $209.4 million with the same bank[153] - As of March 31, 2023, the company had $30.3 million in loan commitments outstanding, with $79.4 million in unused lines of credit and $72.1 million in unadvanced construction loans[155] - Non-brokered certificates of deposit due within one year totaled $136.7 million, representing 17.7% of total deposits, indicating potential liquidity challenges if these deposits do not remain[156] - The company is committed to maintaining a strong liquidity position and anticipates sufficient funds to meet current funding commitments[161] Impact of Economic Factors - Provision for credit losses increased by $758,000, or 626.4%, to $879,000 for the three months ended March 31, 2023, compared to $121,000 for the same period in 2022, primarily due to loan portfolio growth[144] - The primary impact of inflation on the company's operations is reflected in increased operating costs, with interest rates having a more significant impact on performance[163]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 001-41456 ECB BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 88-1502079 (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________ to ______________________ Commission File Number: 001-41456 ECB Bancorp, Inc. (Exact Name of Registrant as Specified in its Charter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________ to ______________________ | --- | --- | |--------------------------------------------------------------------------------------------|-- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________ to ______________________ | --- | --- | |--------------------------------------------------------------------------------------------|- ...