ENB Financial Corp Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>ENB Financial Corp has filed its quarterly report (10-Q) for the period ending March 31, 2024, confirming compliance with filing requirements.</b>

AI Summary

ENB Financial Corp (ENBP) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. ENB Financial Corp filed a Form 10-Q for the quarterly period ended March 31, 2024. The filing was made on May 13, 2024. The company is incorporated in Pennsylvania and has its principal executive offices in Ephrata, PA. ENB Financial Corp is classified as a national commercial bank (SIC code 6021). The company has confirmed it has filed all required reports for the preceding 12 months and has submitted interactive data files.

Why It Matters

For investors and stakeholders tracking ENB Financial Corp, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational details of ENB Financial Corp for the first quarter of 2024. As a national commercial bank, the information within this report is crucial for understanding the company's financial health, lending activities, and overall market position within the banking sector.

Risk Assessment

Risk Level: low — ENB Financial Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for detailed financial statements and management discussion to assess ENB Financial Corp's performance trends and strategic initiatives.

Key Numbers

• 20240331 — Quarterly Period End Date (For the quarterly period ended March 31, 2024)
• 20240513 — Filing Date (FILED AS OF DATE: 20240513)
• 000-53297 — SEC File Number (SEC FILE NUMBER: 000-53297)
• 51-0661129 — IRS Employer Identification No (IRS EMPLOYER IDENTIFICATION NO: 51-0661129)

Key Players & Entities

• ENB Financial Corp (company) — ENB Financial Corp (Exact name of registrant as specified in its charter)
• Pennsylvania (location) — Pennsylvania (State or Other Jurisdiction of Incorporation)
• Ephrata, PA (location) — Ephrata, PA (Address of principal executive offices)
• 6021 (industry_code) — NATIONAL COMMERCIAL BANKS [6021]

FAQ

Industry Context

ENB Financial Corp operates within the national commercial banking industry, a sector characterized by its role in providing financial services, managing deposits, and facilitating lending.

Regulatory Implications

As a financial institution, ENB Financial Corp is subject to regulations from various bodies, including the Securities and Exchange Commission (SEC) for its public filings, and banking regulators for its operational activities.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Compare Q1 2024 results with previous quarters and the same period last year to identify performance trends.
3. Analyze any disclosed risk factors or forward-looking statements for potential impacts on future operations.

Year-Over-Year Comparison

This filing represents the standard quarterly report for the period ending March 31, 2024, following the company's previous filings.

Key Financial Figures

• $0.10 — the registrant had 5,668,018 shares of $0.10 (par) Common Stock outstanding. ENB F

Filing Documents

• enbp-20240331.htm (10-Q) — 2028KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 9KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 4KB
• 0001174947-24-000739.txt (&nbsp;) — 10163KB
• enbp-20240331_cal.xml (EX-101.CAL) — 55KB
• enbp-20240331_def.xml (EX-101.DEF) — 281KB
• enbp-20240331_lab.xml (EX-101.LAB) — 534KB
• enbp-20240331_pre.xml (EX-101.PRE) — 283KB
• enbp-20240331.xsd (EX-101.SCH) — 71KB
• enbp-20240331_htm.xml (XML) — 2527KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets at March 31, 2024 and 2023, and December 31, 2023 (Unaudited) 3 Consolidated Statements of Income for the Three Months Ended March 31, 2024 and 2023 Unaudited) 4 Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 7 Notes to the Unaudited Consolidated Interim Financial Statements 8-26 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27-44 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 45-47 Item 4.

Controls and Procedures

Controls and Procedures 48

– OTHER INFORMATION

Part II – OTHER INFORMATION 49 Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 3. Defaults upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 50 SIGNATURE PAGE 51 2 ENB FINANCIAL CORP Part I - Financial Information

Financial Statements

Item 1. Financial Statements CONSOLIDATED BALANCE SHEETS (UNAUDITED) (DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) March 31, December 31, March 31, 2024 2023 2023 $ $ $ ASSETS Cash and due from banks 13,547 29,519 27,271 Interest-bearing deposits in other banks 54,306 59,477 19,179 Total cash and cash equivalents 67,853 88,996 46,450 Securities available for sale (at fair value, net of allowance for credit losses of $ 0 ) 446,774 459,569 494,683 Equity securities (at fair value) 9,401 9,451 9,014 Loans held for sale 1,789 352 875 Loans (net of unearned income) 1,380,459 1,360,078 1,256,599 Less: Allowance for credit losses 14,616 15,176 16,054 Net loans 1,365,843 1,344,902 1,240,545 Premises and equipment 26,610 25,284 25,350 Regulatory stock 8,549 8,540 7,318 Bank owned life insurance 35,892 35,632 34,992 Other assets 29,328 28,098 29,624 Total assets 1,992,039 2,000,824 1,888,851 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits: Noninterest-bearing 602,975 611,968 642,136 Interest-bearing 1,118,036 1,114,830 1,007,472 Total deposits 1,721,011 1,726,798 1,649,608 Short-term borrowings — — 5,000 Long-term debt 96,982 101,228 78,639 Subordinated debt 39,596 39,556 39,436 Other liabilities 12,517 13,588 10,169 Total liabilities 1,870,106 1,881,170 1,782,852 Stockholders' equity: Common stock, par value $ 0.10 Shares: Authorized 24,000,000 Issued 5,739,114 and Outstanding 5,673,017 as of 3/31/24, 5,670,054 as of 12/31/23, and 5,646,154 as of 3/31/23 574 574 574 Capital surplus 4,036 4,072 4,341 Retained earnings 153,573 150,596 143,542 Accumulated other comprehensive loss, net of tax ( 35,111 ) ( 34,355 ) ( 40,633 ) Less: Treasury stock cost on 66,097 shares as of 3/31/24, 69,060 as of 12/31/23, and 92,961 as of 3/31/23 ( 1,139 ) ( 1,233 ) ( 1,825 ) Total stockholders' equity 121,933 11

View Full Filing

View this 10-Q filing on SEC EDGAR