ENB Financial Corp Files 10-Q for Q2 2024

TL;DR

ENB Financial Corp 10-Q filed. Q2 2024 results out.

AI Summary

ENB Financial Corp filed its 10-Q report for the quarterly period ended June 30, 2024. The company, incorporated in Pennsylvania, operates as a national commercial bank. Its principal executive offices are located at 31 E Main Street, Ephrata, PA.

Why It Matters

This filing provides investors with an update on ENB Financial Corp's financial performance and position as of the end of the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information for a commercial bank.

Key Players & Entities

• ENB Financial Corp (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• Pennsylvania (location) — State of Incorporation
• 31 E Main Street, Ephrata, PA 17522-0457 (location) — Principal executive offices address
• 717-733-4181 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.10 — the registrant had 5,667,054 shares of $0.10 (par) Common Stock outstanding. ENB F

Filing Documents

• enbp-20240630.htm (10-Q) — 2433KB
• 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) — 5KB
• 0001174947-24-000995.txt ( ) — 11400KB
• enbp-20240630.xsd (EX-101.SCH) — 72KB
• enbp-20240630_cal.xml (EX-101.CAL) — 55KB
• enbp-20240630_def.xml (EX-101.DEF) — 280KB
• enbp-20240630_lab.xml (EX-101.LAB) — 535KB
• enbp-20240630_pre.xml (EX-101.PRE) — 281KB
• enbp-20240630_htm.xml (XML) — 2968KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets at June 30, 2024 and 2023, and December 31, 2023 (Unaudited) 3 Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 7 Notes to the Unaudited Consolidated Interim Financial Statements 8-28 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 29-47 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 48-50 Item 4.

Controls and Procedures

Controls and Procedures 51

– OTHER INFORMATION

Part II – OTHER INFORMATION 52 Item 1.

Legal Proceedings

Legal Proceedings 52 Item 1A.

Risk Factors

Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 53 SIGNATURE PAGE 54 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) June 30, December 31, June 30, 2024 2023 2023 $ $ $ ASSETS Cash and due from banks 27,658 29,519 24,672 Interest-bearing deposits in other banks 78,955 59,477 36,409 Total cash and cash equivalents 106,613 88,996 61,081 Securities available for sale (at fair value, net of allowance for credit losses of $ 0 ) 437,728 459,569 456,004 Equity securities (at fair value) 9,849 9,451 9,019 Loans held for sale 825 352 652 Loans (net of unearned income) 1,384,076 1,360,078 1,296,502 Less: Allowance for credit losses 14,339 15,176 16,833 Net loans 1,369,737 1,344,902 1,279,669 Premises and equipment 26,261 25,284 25,381 Regulatory stock 8,641 8,540 7,843 Bank owned life insurance 35,520 35,632 35,197 Other assets 29,384 28,098 28,806 Total assets 2,024,558 2,000,824 1,903,652 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits: Noninterest-bearing 623,348 611,968 634,360 Interest-bearing 1,131,022 1,114,830 1,021,591 Total deposits 1,754,370 1,726,798 1,655,951 Long-term debt 92,334 101,228 91,717 Subordinated debt 39,636 39,556 39,476 Other liabilities 12,252 13,588 10,174 Total liabilities 1,898,592 1,881,170 1,797,318 Stockholders' equity: Common stock, par value $ 0.10 Shares: Authorized 24,000,000 Issued 5,739,114 and Outstanding 5,677,053 as of 6/30/24, 5,670,054 as of 12/31/23, and 5,654,415 as of 6/30/23 574 574 574 Capital surplus 4,001 4,072 4,259 Retained earnings 156,924 150,596 144,380 Accumulated other comprehensive loss, net of tax ( 34,491 ) ( 34,355 ) ( 41,244 ) Less: Treasury stock cost on 62,061 shares as of 6/30/24, 69,060 as of 12/31/23, and 84,700 as of 6/30/23 ( 1,042 ) ( 1,233 ) ( 1,635 ) Total stockholders' equity 125,966 119,654 106,334 Total liabilities and s

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