Company: EMYB
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001449794-25-000009
Chunk: 32

Company: Embassy Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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 that the existing allowance for credit losses is adequate, or that material increases will not be necessary should the quality of the loans deteriorate. The Company has not participated in any sub-prime lending activity. The activity in the allowance for credit losses is shown in the following table, as well as period end loans receivable and the allowance for credit losses as a percent of the total loans receivable portfolio: 3               Three Months Ended March 31,  2025 2024       (In Thousands)Loans receivable at end of period$ 1,272,243 $ 1,270,987Allowance for credit losses:     Balance, beginning $ 12,166 $ 12,461   Provision (credit) for credit losses  56   (158)   Loans charged off:           Commercial real estate  -   -      Commercial construction  -   -      Commercial  -   -      Residential real estate  -   -      Consumer  -   -   Total loans charged off  -   -   Recoveries of loans previously charged off:           Commercial real estate  -   240      Commercial construction  -   -      Commercial  -   -      Residential real estate  -   -      Consumer  -   -   Total recoveries  -   240   Net recoveries   -   240Balance at end of period$ 12,222 $ 12,543Allowance for credit losses to loans receivable at end of period 0.96%  0.99% In addition to the allowance for credit losses, the Company maintains a reserve for unfunded commitments at a level that management believes is adequate to absorb probable losses. At March 31, 2025 and December 31, 2024, a $83 thousand and $92 thousand unfunded commitment reserve was reported, respectively, on the Consolidated Balance Sheets in other liabilities. Non-interest Income Total non-interest income was $629 thousand for the three months ended March 31, 2025 compared to $733 thousand for the same period in 2024. The decrease is, in part, attributable to a decrease in bank owned life insurance of $120 thousand. The decrease in the bank owned life insurance income was primarily due to a decrease in separate account life insurance assets driven by the effect market conditions had on underlying life insurance assets. The decrease in non interest income was offset by an increase of $22 thousand in other service fees due in part to an increase in overdraft fees, wire fees, and