ES Bancshares, Inc. Reports Strong Financial Performance for Q3 2022

Key Highlights

ES Bancshares, Inc., the parent company of Empire State Bank, has reported a net income of $872 thousand for the quarter ended September 30, 2022. This translates to earnings of $0.13 per diluted common share, reflecting solid profitability for the company.

Financial Data

During the third quarter of 2022, ES Bancshares, Inc. saw a notable loan growth of 13%, which was funded by a corresponding 14% increase in deposits. This growth in both loan portfolio and deposits is a positive indicator of the bank’s financial health and stability.

Impact on Individuals:

For individual customers of Empire State Bank, the strong financial performance of ES Bancshares, Inc. signifies a stable and reliable banking partner. With steady growth in loans and deposits, customers can have confidence in the bank’s ability to meet their financial needs and provide essential banking services.

Impact on the World:

From a broader perspective, the robust performance of ES Bancshares, Inc. has positive implications for the financial sector and the economy as a whole. A thriving bank indicates a healthy and vibrant economy, signaling potential growth and prosperity for businesses and individuals alike.

Conclusion

ES Bancshares, Inc.’s impressive financial results for the third quarter of 2022 reflect a strong and stable performance by the company. With growth in loans and deposits, the bank is well-positioned to continue serving its customers and contributing to the overall economic growth. As individuals and the world at large benefit from the bank’s success, the future looks promising for all stakeholders involved.