Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 48

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 48
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)      Deferred tax assets:     Allowance for credit losses$ 2,574  $ 2,617 Deferred compensation  1,695    1,628 Lease liability  1,264    1,384 Unrealized loss on securities available for sale  13,460    11,616 Other  13    10       Total Deferred Tax Assets  19,006    17,255       Deferred tax liabilities:     Premises and equipment  25    82 Prepaid assets  319    279 Deferred loan costs  586    604 Right of use asset  1,256    1,360       Total Deferred Tax Liabilities$ 2,186  $ 2,325       Net Deferred Tax Asset $ 16,820  $ 14,930  Based upon the level of historical taxable income and projections for future taxable income over periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences.‎ 

94    Embassy Bancorp, Inc.  

Note 17 – Parent Company Only Financial Condensed financial information pertaining only to the parent company, Embassy Bancorp, Inc., is as follows: BALANCE SHEETS                 December 31,  2024 2023  (In Thousands) ASSETS             Cash$ 611  $ 443  Other assets  52    53  Investment in subsidiary  106,257    105,599  Total Assets$ 106,920  $ 106,095         LIABILITIES AND STOCKHOLDERS’ EQUITY             Other liabilities$ 440  $ 440  Stockholders’ equity  106,480    105,655  Total Liabilities and Stockholders’ Equity$ 106,920  $ 106,095  STATEMENTS OF INCOME AND COMPREHENSIVE INCOME                   Years Ending December 31,  2024 2023      (In Thousands)        Other expenses$ (623) $ (613) Equity in net income of banking subsidiary  10,938    13,144  Income before income taxes  10,315    12,531  Income tax benefit  125    125  Net income$ 10,440  $ 12,656