Company: EMYB
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001449794-25-000035
Chunk: 38

Company: Embassy Bancorp, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 38
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53 thousand primarily due to overdraft fees, certificate of deposit penalty fees, and wire fees. Offsetting this increase is a decrease in merchant and credit card processing fees of $52 thousand. Non-interest Expense Non-interest expenses increased $299 thousand from $6.8 million for the three months ended September 30, 2024 to $7.1 million for the three months ended September 30, 2025. The increase in non-interest expenses is, in part, attributable to a $95 thousand increase in salaries and employee benefits due to annual increases in salaries, an increase in health insurance cost, and an increase in contributions to retirement plans, offset by a decrease in stock grant expenses and an increase in deferred loan costs. Additional increases in non-interest expenses are attributable to an increase of $60 thousand in occupancy and equipment in part due to an increase in rent and building maintenance, an increase of $251 thousand in data processing expenses due, in part, to the implementation of a new content management software and general ledger system, offset by a decrease of $20 thousand in advertising and promotion expenses, a decrease of $24 thousand in professional fees, and a decrease of $98 thousand in other expenses. The Company’s efficiency ratio, a non-GAAP measure, was 60.5% and 67.9% for the three months ended September 30, 2025 and 2024, respectively. Non-interest expenses increased $1.2 million from $20.2 million for the nine months ended September 30, 2024 to $21.4 million for the nine months ended September 30, 2025. The increase in non-interest expenses is, in part, attributable to a $583 thousand increase in salaries and employee benefits due to annual increases in salaries and bonuses, an increase in employer payroll taxes, an increase in contributions to retirement plans, and an increase in health insurance cost, offset by a decrease in stock grant expense and an increase in deferred loan costs. Additional increases in non-interest expenses are attributable to an increase of $133 thousand in occupancy and equipment in part due to an increase in rent and building maintenance, an increase of $499 thousand in data processing expenses due, in part, to the implementation of a new content management software and general ledger system and an increase in maintenance contracts, an increase of $32 thousand in advertising and promotion expenses, an increase of $63 thousand in loan and real estate expenses, and an increase of $36 thousand in charitable contributions, offset by a decrease of $148 thousand