ES Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 28, 2021 at 06:20 pm
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ES Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net interest income was USD 4.53 million compared to USD 3.8 million a year ago. Net income was USD 1.22 million compared to USD 0.616 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 0.17.
For the nine months, net interest income was USD 13.19 million compared to USD 10.48 million a year ago. Net income was USD 3.29 million compared to USD 0.893 million a year ago. Basic earnings per share from continuing operations was USD 0.15. Diluted earnings per share from continuing operations was USD 0.15.
ES Bancshares, Inc. serves as the holding company for Empire State Bank (the Bank). The Bank is a New York state chartered bank and provides a variety of financial services to meet the needs of communities in its market area. The Bankâs principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans, including small business administration (SBA) and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities (MBS), securities issued by the United States government and agencies thereof, corporate securities and other investments. The Bank operates from its five banking center locations and two Loan Production offices. The Bankâs loan production offices are located in Queens and Staten Island, New York. The Bankâs subsidiaries include Iron Creek LLC and North Plank Realty II Inc.