Embassy Bancorp, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Embassy Bancorp, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the year ending December 31, 2023.</b>

AI Summary

Embassy Bancorp, Inc. (EMYB) filed a Annual Report (10-K) with the SEC on March 28, 2024. Embassy Bancorp, Inc. filed its 2023 Form 10-K on March 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is commercial banking. Embassy Bancorp is incorporated in Pennsylvania. The filing includes detailed financial statements and disclosures for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking Embassy Bancorp, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Embassy Bancorp's financial health, operational activities, and strategic direction for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future prospects. The detailed disclosures within the 10-K allow for a thorough understanding of the company's financial position, including assets, liabilities, equity, and any significant changes or trends observed during the reporting period.

Risk Assessment

Risk Level: medium — Embassy Bancorp, Inc. shows moderate risk based on this filing. The filing is a 10-K, which is a standard annual report for public companies, indicating a routine disclosure of financial information. However, specific financial performance details and risk factors are not yet available in this header-only data, necessitating a medium risk assessment until further analysis.

Analyst Insight

Review the full 10-K filing for Embassy Bancorp, Inc. to analyze its financial statements, management discussion, and risk factors to understand its performance and outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-28 — Filing Date (Filed as of date)

Key Players & Entities

• Embassy Bancorp, Inc. (company) — Filer name
• PA (location) — State of incorporation
• BETHLEHEM (location) — Business address city

FAQ

Industry Context

Embassy Bancorp, Inc. operates within the commercial banking sector, providing financial services to individuals and businesses.

Regulatory Implications

As a commercial bank, Embassy Bancorp is subject to regulations from various financial authorities, including the SEC, and adheres to reporting requirements like the 10-K.

What Investors Should Do

1. Obtain and review the full 10-K filing for Embassy Bancorp, Inc. for the fiscal year ended December 31, 2023.
2. Analyze the financial statements, including balance sheets, income statements, and cash flow statements, to understand the company's financial health.
3. Examine the Management's Discussion and Analysis (MD&A) section for insights into the company's performance, strategies, and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-03-28: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing data provided for Embassy Bancorp, Inc. for the fiscal year 2023. Comparative data from previous filings is not available in this extract.

Key Financial Figures

• $1.00 — Exchange Act: Common Stock, Par Value $1.00 per share Indicate by check mark if t
• $15 m — esses with annual revenues of less than $15 million, including business owners, opera
• $250,000 — ent standard deposit insurance limit to $250,000; and expanded the FDIC's authority to r

Filing Documents

• emyb-20231231x10k.htm (10-K) — 10625KB
• emyb-20231231xex10_10.htm (EX-10.10) — 65KB
• emyb-20231231xex10_11.htm (EX-10.11) — 68KB
• emyb-20231231xex10_23.htm (EX-10.23) — 15KB
• emyb-20231231xex10_26.htm (EX-10.26) — 68KB
• emyb-20231231xex10_27.htm (EX-10.27) — 16KB
• emyb-20231231xex10_28.htm (EX-10.28) — 68KB
• emyb-20231231xex10_29.htm (EX-10.29) — 16KB
• emyb-20231231xex10_7.htm (EX-10.7) — 34KB
• emyb-20231231xex10_9.htm (EX-10.9) — 28KB
• emyb-20231231xex21_1.htm (EX-21.1) — 1KB
• emyb-20231231xex23_1.htm (EX-23.1) — 3KB
• emyb-20231231xex31_1.htm (EX-31.1) — 16KB
• emyb-20231231xex31_2.htm (EX-31.2) — 15KB
• emyb-20231231xex32_1.htm (EX-32.1) — 16KB
• 0001449794-24-000003.txt (&nbsp;) — 37614KB
• emyb-20231231.xsd (EX-101.SCH) — 64KB
• emyb-20231231_cal.xml (EX-101.CAL) — 120KB
• emyb-20231231_def.xml (EX-101.DEF) — 337KB
• emyb-20231231_lab.xml (EX-101.LAB) — 616KB
• emyb-20231231_pre.xml (EX-101.PRE) — 626KB
• emyb-20231231x10k_htm.xml (XML) — 10985KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 18 Item 1B Unresolved Staff Comments 27 Item 1C Cybersecurity 27 Item 2

Properties

Properties 29 Item 3

Legal Proceedings

Legal Proceedings 29 Item 4 Mine Safety Disclosures 29 Part II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and 30 Issuer Purchases of Equity Securities Item 6 [Reserved] 31 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Management Report on Internal Controls Over Financial Reporting 52 Report of Independent Registered Public Accounting Firm (PCAOB ID: 23 ) 53 Consolidated Balance Sheets 55 Consolidated Statements of Income 56 Consolidated Statements of Comprehensive Income (Loss) 57 Consolidated Statements of Stockholders' Equity 58 Consolidated Statements of Cash Flows 59

Notes to Financial Statements

Notes to Financial Statements 60 Item 9 Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 95 Item 9A

Controls and Procedures

Controls and Procedures 95 Item 9B Other Information 95 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 95 Part III Item 10 Directors, Executive Officers and Corporate Governance 96 Item 11

Executive Compensation

Executive Compensation 96 Item 12

Security Ownership of Certain Beneficial Owners and Management and

Security Ownership of Certain Beneficial Owners and Management and 96 Related Stockholder Matters Item 13 Certain Relationships and Related Transactions, and Director Independence 96 Item 14 Principal Accountant Fees and Services 96 Part IV Item 15 Exhibit and Financial Statement Schedules 97 Item 16 Form 10-K Summary 99

Signatures

Signatures 100 3 Embassy Bancorp, Inc. PART I

. BUSINESS

Item 1 . BUSINESS. General Embassy Bancorp, Inc. (the "Company") is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the "BHC Act"). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the "Bank") in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. The reorganization enabled the Company to better compete and grow in its competitive and rapidly changing marketplace. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. The Bank, which is the Company's principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank's primary market area. Mission The Company provides a traditional range of financial products and services to meet the depository and credit needs of individual consumers, small and medium sized businesses, and professionals in its market area. As a locally owned and operated community bank, there is a strong focus on service that is highly personalized, efficient, and responsive to local needs. It is the intention of the Company to deliver its products and services with the care and professionalism expected of a community bank and with a special dedication to personalized service. To create this environment, the Company employs an experienced, well-trained, and highly motivated staff, with interest in building quality client relationships using state-of-the-art delivery systems and client service facilities. The Company's executive leadership has extensive banking experienc

View Full Filing

View this 10-K filing on SEC EDGAR