Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 20

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 20
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gregated by jurisdiction.  ASU No. 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024.  The ASU may be adopted on a prospective or retrospective basis and early adoption is permitted. The Company is currently evaluating the impact the new guidance will have on disclosures related to income taxes. In December of 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure of certain costs and expenses in the notes to the consolidated financial statements. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2026, and will be effective for interim periods with fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact of the standard to our consolidated financial statement disclosures.‎

67    Embassy Bancorp, Inc.  

Operating Segments The Company operates as a single reportable segment under ASC 280, as the Chief Operating Decision Maker (CODM) reviews financial performance and allocates resources based on the consolidated results of the Company as a whole.  The Company, through its bank subsidiary, provides banking services to individuals, businesses and government customers in the Lehigh Valley area of Pennsylvania. These services include a full array of commercial and retail financial services, including the taking of time, savings, and demand deposits; the making of commercial, consumer, residential mortgage and home equity loans; and the providing of other financial services.  The Company’s primary measures of profitability and CODM key measures of overall financial performance is net interest income, which represents interest earned on loans and investment securities, net of interest expense on deposits and borrowings, levels of non-interest income and non-interest expenses and net income as reported in the consolidated statements of income.  The measure of segment assets is reported on the consolidated balance sheets as total assets.  Accounting policies for segments are the same as described in this Note.  The Company’s CODM is the President and Chief Executive Officer. Subsequent Events The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2024 through the date these consolidated financial statements were available for issuance for items that should potentially be recognized or disclosed in these consolidated financial statements. Subsequent to