Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 29

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 29
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. The loan also was not past due at December 31, 2024. The modified home equity loan had an extended maturity date compared to the original loan, which represents less than 0.01% of the total residential real estate loans outstanding at December 31, 2024. The loan modification listed above for the year ending December 31, 2023, was to a borrower experiencing financial distress and the modification included terming out a home equity line of credit. The home equity line of credit had a rate of 9.00%. The term out home equity line has a rate of 6.49% and a maturity date of December 2038. The loan also was not past due at December 31, 2024 and December 31, 2023. There is no commitment to lend additional amounts on these modified loans. The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. There were $136 thousand and $62 thousand of modifications to borrowers experiencing financial difficulties that were outstanding at December 31, 2024 and December 31, 2023, respectively. Note 4 - Financial Instruments with Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. ‎ 

78    Embassy Bancorp, Inc.  

 The following financial instruments were outstanding whose contract amounts represent credit risk:                  December 31,   2024 2023           (In Thousands)          Commitments to grant loans, fixed$ 747  $ 13,825   Commitments to grant loans, variable  3,775    2,650   Unfunded commitments under lines of credit, fixed  23,488    20,850   Unfunded commitments under lines of credit, variable  145,880    145,351   Standby letters of credit