Company: EMYB
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001449794-25-000020
Chunk: 28

Company: Embassy Bancorp, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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, NOW and money markets, savings, 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, a decrease in the average balances of interest bearing deposits with banks, an increase in the average balance of interest bearing demand deposits, NOW and money market 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 2.50% on a US GAAP basis and 2.52% on a tax equivalent (non-US GAAP) basis for the June 30, 2025, as compared to 2.23% on a US GAAP basis and 2.27% on a tax equivalent (non-US GAAP) basis for the June 30, 2024. Total interest income for the six months ended June 30, 2025 increased $3.4 million to $34.7 million, as compared to $31.2 million for the six months ended June 30, 2024. Average earning assets were $1.66 billion for the six months ended June 30, 2025 as compared to $1.58 billion for the six months ended June 30, 2024. The tax equivalent yield on average earning assets was 4.25% for the six months ended June 30, 2025 compared to 4.01% for the six months ended June 30, 2024. Total interest expense for the six months ended June 30, 2025 increased $808 thousand to $14.4 million, as compared to $13.6 million for the six months ended June 30, 2024. Average interest bearing liabilities were $1.25 billion for the six months ended June 30, 2025 and $1.18 billion for the six months ended June 30, 2024. The yield on average interest bearing liabilities was 2.33% and 2.31% for the six months ended June 30, 2025 and 2024, respectively. The Company’s cost of funds was 1.82% and 1.80% for the six months ended June 30, 2025 and 2024, respectively.  Net interest income for the six months ended