Quarterly ResultApr 27, 2026, 09:11 AM
ENBP Q1 Net Income $4.02M (-6.8%); Cecil Bancorp Acquisition Impact
AI Summary
ENB Financial Corp reported net income of $4.024 million for the first quarter of 2026, a 6.8% decrease from the prior year, with basic and diluted earnings per share of $0.71. These results were significantly impacted by $1.866 million in merger and conversion-related expenses from the acquisition of Cecil Bancorp, completed on February 1, 2026. Excluding these charges, adjusted net income would have been $5.890 million, or $1.03 per share. The acquisition contributed to a 12.8% increase in net interest income and a 31.7% rise in noninterest income, while also increasing total assets by 9.2% to $2.42 billion and gross loans by 14.2% to $1.65 billion year-over-year.
Key Highlights
- Acquisition of Cecil Bancorp completed on February 1, 2026, adding $147.4 million net loans and $186.38 million deposits.
- Q1 2026 Net Income: $4.024 million, a 6.8% decrease from Q1 2025.
- Q1 2026 Basic & Diluted EPS: $0.71, down from $0.76 in Q1 2025.
- Adjusted Net Income (excluding merger costs): $5.890 million, with adjusted EPS of $1.03.
- Net Interest Income increased by $2.152 million (12.8%) for the quarter.
- Total Assets: $2.42 billion as of March 31, 2026, up 9.2% YoY.
- Gross Loans: $1.65 billion as of March 31, 2026, up 14.2% YoY.
- Total Deposits: $2.07 billion as of March 31, 2026, up 9.1% YoY.