Company: EMYB
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001449794-25-000035
Chunk: 30

Company: Embassy Bancorp, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 30
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2024. Total interest expense for the nine months ended September 30, 2025 increased $460 thousand to $21.8 million, as compared to $21.4 million for the nine months ended September 30, 2024. Average interest bearing liabilities were $1.26 billion for the nine months ended September 30, 2025 and $1.20 billion for the nine months ended September 30, 2024. The yield on average interest bearing liabilities was 2.32% and 2.38% for the nine months ended September 30, 2025 and 2024, respectively. The Company’s cost of funds was 1.82% and 1.86% for the nine months ended September 30, 2025 and 2024, respectively.  Net interest income for the nine months ended September 30, 2025 was $31.1 million, compared to $26.8 million for the nine months ended September 30, 2024. The increase in net interest income is, in part, the result of an increase in the average balances of taxable loans, an increase in the average balances of taxable investments, an increase in the average balances of interest bearing deposits with banks and federal funds sold, along with an increase in the rates of taxable and non-taxable loans and taxable and non-taxable investments. Also contributing to the increase in net interest income was a decrease in the average balance of savings, a decrease in the average balance of NOW accounts, a decrease in the average balance of securities sold under agreement to repurchase and other borrowings, along with a decrease in the rates of interest bearing demand deposits, NOW and money markets, certificates of deposits, and securities sold under agreement to repurchase and other borrowings. The increase in net interest income was offset by a decrease in the average balance of non-taxable loans, a decrease in the average balance of non-taxable investments, an increase in the average balance of money markets, and an increase in the average balance of certificates of deposit, along with a decrease in the rate of fed funds sold and interest bearing deposits with banks. The Company’s net interest margin is 2.49% on a US GAAP basis and 2.52% on a tax equivalent (non-US GAAP) basis for the nine months ended September 30, 2025, as compared to 2.24% on a US GAAP basis and 2.28% on a tax equivalent (non