ENB Financial Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>ENB Financial Corp has filed its 2023 annual report on Form 10-K, detailing its financial performance and corporate information.</b>

AI Summary

ENB Financial Corp (ENBP) filed a Annual Report (10-K) with the SEC on March 22, 2024. ENB Financial Corp filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Pennsylvania and its IRS Employer Identification Number is 51-0661129. Its principal executive offices are located at 31 E. Main St., Ephrata, PA 17522. ENB Financial Corp has common stock with a par value of $0.10 per share registered under Section 12(g) of the Act. The company has confirmed it has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking ENB Financial Corp, this filing contains several important signals. This filing provides a comprehensive overview of ENB Financial Corp's financial health and operations for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. As a national commercial bank, the 10-K filing is essential for regulatory compliance and transparency, offering insights into the company's adherence to financial reporting standards.

Risk Assessment

Risk Level: low — ENB Financial Corp shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate material changes or adverse financial indicators, suggesting a stable operational status.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand ENB Financial Corp's performance and strategic direction.

Key Numbers

• 20231231 — Fiscal Year End (The end date of the fiscal year for which the 10-K report is filed.)
• 20240322 — Filing Date (The date the 10-K report was filed with the SEC.)
• 000-53297 — SEC File Number (The SEC file number assigned to ENB Financial Corp.)
• 6021 — SIC Code (Standard Industrial Classification code for National Commercial Banks.)

Key Players & Entities

• ENB Financial Corp (company) — Filer name and subject of the 10-K report.
• Pennsylvania (location) — State of incorporation for ENB Financial Corp.
• 51-0661129 (other) — IRS Employer Identification Number for ENB Financial Corp.
• 31 E. Main St. (location) — Street address of ENB Financial Corp's principal executive offices.
• Ephrata, PA 17522 (location) — City, State, and ZIP code of ENB Financial Corp's principal executive offices.
• Common Stock, Par Value $0.10 Per Share (security) — Class of securities registered pursuant to Section 12(g) of the Act.

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-22: Filing Date — The date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.10 — of each class Common Stock, Par Value $0.10 Per Share Indicate by check mark if t
• $892,000 — sessments paid by the Bank in 2023 were $892,000, compared to $528,000 in 2022. Communi
• $528,000 — Bank in 2023 were $892,000, compared to $528,000 in 2022. Community Reinvestment Act

Filing Documents

• enbp-20231231.htm (10-K) — 2804KB
• ex21.htm (EX-21) — 3KB
• ex23.htm (EX-23) — 4KB
• ex31-1.htm (EX-31.1) — 10KB
• ex31-2.htm (EX-31.2) — 9KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 4KB
• image_001.gif (GRAPHIC) — 6KB
• image_002.jpg (GRAPHIC) — 4KB
• image_003.jpg (GRAPHIC) — 1KB
• image_005.jpg (GRAPHIC) — 15KB
• 0001174947-24-000388.txt (&nbsp;) — 15667KB
• enbp-20231231_cal.xml (EX-101.CAL) — 95KB
• enbp-20231231_def.xml (EX-101.DEF) — 601KB
• enbp-20231231_lab.xml (EX-101.LAB) — 1127KB
• enbp-20231231_pre.xml (EX-101.PRE) — 610KB
• enbp-20231231.xsd (EX-101.SCH) — 151KB
• enbp-20231231_htm.xml (XML) — 3082KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 Part II Item 5. Market for Registrant's Common Equity, Related Shareholder Matters, and Issuer Purchases of Equity Securities 25 Item 6. [Reserved] 26 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 27 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 47 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 105 Item 9A.

Controls and Procedures

Controls and Procedures 105 Item 9B. Other Information 106 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 Part III Item 10. Directors, Executive Officers, and Corporate Governance 107 Item 11.

Executive Compensation

Executive Compensation 107 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 107 Item 13. Certain Relationships and Related Transactions, and Director Independence 107 Item 14. Principal Accountant Fees and Services 107 Part IV Item 15. Exhibits and Financial Statement Schedules 108 Item 16. Form 10-K Summary 109

Signatures

Signatures 109 3 ENB FINANCIAL CORP Part I

Forward-Looking Statements

Forward-Looking Statements The U.S. Private Securities Litigation Reform Act of 1995 provides safe harbor in regard to the inclusion of forward-looking statements in this document and documents incorporated by reference. Forward-looking generally identified when terms such as "believe," "estimate," "anticipate," "expect," "project," "forecast," and other similar wordings are used. The readers of this report should take into consideration that these forward-looking statements represent management's expectations as to future forecasts of financial performance, or the likelihood that certain events will or will not occur. Due to the very nature of estimates or predictions, these forward-looking statements should not be construed to be indicative of actual future results. Additionally, management may change estimates of future performance, or the likelihood of future events, as additional information is obtained. This document may also address targets, guidelines, or strategic goals that management is striving to reach but may not be indicative of actual results. Readers should note that many factors affect this forward-looking information, some of which are discussed elsewhere in this document and in the documents that are incorporated by reference into this document. These factors include, but are not limited to, the following: Economic conditions Monetary and interest rate policies of the Federal Reserve Board Inflation and monetary fluctuations and volatility Possible impacts of the capital and liquidity requirements of Basel III standards and other regulatory pronouncements Effects of short- and long-term federal budget and tax negotiations and their effects on economic and business conditions Effects of the failure of the Federal government to reach agreement to raise the debt ceiling and the negative effects on econom

Business

Item 1. Business General ENB Financial Corp ("the Corporation") is a bank holding company that was formed on July 1, 2008. The Corporation's wholly owned subsidiary, Ephrata National Bank ("the Bank"), also referred to as ENB, is a full service commercial bank organized under the laws of the United States. Presently, no other subsidiaries exist under the bank holding company. The Bank has one subsidiary, ENB Insurance, which is a full-service insurance agency that offers a broad range of insurance products to commercial and personal clients. The Corporation and the Bank are both headquartered in Ephrata, Lancaster County, Pennsylvania. The Bank was incorporated on April 11, 1881, pursuant to The National Bank Act under a charter granted by the Office of the Comptroller of the Currency (OCC). The Federal Deposit Insurance Corporation (FDIC) insures deposit accounts up to the maximum extent provided by law. The Corporation's retail, operational, and administrative offices are predominantly located in Lancaster County, southeastern Lebanon County, and southwestern Berks County, Pennsylvania, the "Market Area". Eleven full service community banking offices are located in Lancaster County with one full service community banking office in Lebanon County and one full service community banking office in Berks County, Pennsylvania. The basic business of the Corporation is to provide a broad range of financial services to individuals and small-to-medium-sized businesses in the Market Area. The Corporation utilizes funds gathered through deposits from the general public to originate loans. The Corporation offers a range of demand accounts, in addition to savings and time deposits. The Corporation also offers secured and unsecured commercial, real estate, and consumer loans. Ancillary services that provide added convenience to customers include direct deposit and direct payments of funds through Electronic Funds Transfer, ATMs linked to the NYCE network, telephone banking, M

View Full Filing

View this 10-K filing on SEC EDGAR