Company: EMYB
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001449794-25-000035
Chunk: 14

Company: Embassy Bancorp, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 was approved by the Company’s shareholders at the annual meeting held on June 16, 2016. Under the ESPP, each employee of the Company and its subsidiaries who is employed on an offering date and customarily is scheduled to work at least twenty (20) hours per week and more than five (5) months in a calendar year is eligible to participate. The purchase price for shares purchased under the ESPP is 95% of the fair market value of such shares on the date of purchase. This discount was adjusted to 90% from 95% effective October 1, 2025. The purchase price may be adjusted from time to time by the Board of Directors; provided, however, that the discount to fair market value shall not exceed 15%.  The Company has authorized 350,000 shares of its common stock for the ESPP, of which 34,235 shares have been issued as of September 30, 2025. The Company recognized discount expense in relation to the ESPP of $1 thousand and $3 thousand during the three and nine months ended September 30, 2025 and September 30, 2024, respectively.‎ 

21  Embassy Bancorp, Inc.                                                                                                                            Notes to Consolidated Financial Statements (Unaudited) 

Note 9 – Other Comprehensive Income   US GAAP requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. Management believes that the unrealized losses on securities available for sale are primarily a result of the increasing market interest rates since the time of purchase and the overall current market conditions. The components of other comprehensive income both before tax and net of tax are as follows:                                          Three Months Ended September 30,   2025 2024                     (In Thousands)                     Before Tax  Net of  Before Tax  Net of   Tax Effect Tax Tax Effect TaxChange in accumulated other comprehensive loss:                  Unrealized holding gains on securities ‎   available for sale $5,425 $(1,139) $4,286 $ 11,496 $ (2,414) $ 9,082Reclassification adjustments for gains on securities‎   transactions included in net income (A),(B)   -   -   -   -   -   -