Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 24

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 24
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 for recovery of their amortized cost basis. This review includes analyzing the extent to which the fair value has been lower than the cost, the market liquidity for the investment, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value. Management believes that the unrealized loss only represents temporary impairment of the securities, which are predominantly backed by credit of government agencies, and are a result of the increased market interest rates since the time of purchase, and not the credit quality of the issuer. As such, no allowance for credit losses was required on securities available for sale in an unrealized loss position at December 31, 2024 and December 31, 2023.             ‎ 

71    Embassy Bancorp, Inc.  

 Note 3 – Loans Receivable and Credit Quality The following table presents the composition of loans receivable at December 31, 2024 and December 31, 2023, respectively:                  December 31,   2024 2023           (In Thousands)          Commercial real estate$ 536,594 $ 539,034  Commercial construction  22,556   16,840  Commercial  39,384   33,951  Residential real estate  668,725   663,127  Consumer  475   565              Total Loans  1,267,734   1,253,517          Unearned net loan origination costs  688   522  Allowance for credit losses  (12,166)   (12,461)              Net Loans$ 1,256,256 $ 1,241,578  The following tables detail the activity in the allowance for credit losses at December 31, 2024 and December 31, 2023, respectively:                         Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total                       Allowance for credit losses(In Thousands) Year Ending December 31, 2024                     Beginning Balance - December 31, 2023$ 6,108  $ 195  $ 920  $ 5,224  $ 14  $ - $ 12,461     Charge-offs  -   -   -   -   (11)   -   (11)    Recoveries  240    -   -   -   1