Last $22.40 USD
Change Today +0.24 / 1.08%
Volume 323.0
ESBK On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

elmira savings bank (ESBK) Snapshot

Open
$20.16
Previous Close
$22.16
Day High
$22.40
Day Low
$20.16
52 Week High
12/16/13 - $28.45
52 Week Low
09/19/13 - $19.80
Market Cap
59.2M
Average Volume 10 Days
774.4
EPS TTM
$1.31
Shares Outstanding
2.6M
EX-Date
09/8/14
P/E TM
17.1x
Dividend
$0.92
Dividend Yield
3.93%
Current Stock Chart for ELMIRA SAVINGS BANK (ESBK)

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elmira savings bank (ESBK) Details

Elmira Savings Bank provides banking and other financial services to individual and commercial customers. Its deposit products include savings and money market accounts, time deposits, retail and commercial checking accounts, NOW accounts, and certificates of deposit. The company’s loan products portfolio comprises residential, commercial, and construction real estate loans; commercial loans; consumer loans, including installment loans, automobile loans, home equity loans, and other loans; and mortgage loans secured by first and second liens on one-to-four family residences. It also operates as a real estate investment trust; and offers financial services products and financial planning advisory services. As of April 9, 2014, the company operated six offices in Chemung County, New York; three offices and a loan center in Tompkins County, New York; two offices in Steuben County, New York; one office in Cayuga County, New York; one office in Schuyler County, New York; a loan center in Cortland County, New York; and a loan center in Broome County, New York. Elmira Savings Bank was founded in 1869 and is based in Elmira, New York.

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elmira savings bank (ESBK) Key Developments

Elmira Savings Bank Declares Cash Dividend, Payable on September 19, 2014

The Board of Directors of Elmira Savings Bank declared a $0.23 per share cash dividend on their existing common shares outstanding. The cash dividend will be paid on September 19, 2014 to shareholders of record September 10, 2014. The Bank also declared a dividend on their preferred shares outstanding.

Elmira Savings Bank Announces Management Changes

The Board of Directors of Elmira Savings Bank announced the appointment of Thomas M. Carr as President and Chief Executive Officer. Mr. Carr has been serving as President and Chief Operating Officer since April 2013. He joined the bank in June 2000 as Senior Vice President and Chief Financial Officer. Carr succeeds Michael P. Hosey, Vice Chairman and Chief Executive Officer, who is retiring from the bank after 30 years of service. Mr. Hosey has been elected as Chairman of the Board of Directors of the bank.

Elmira Savings Bank Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge-offs for the Second Quarter Ended June 30, 2014

Elmira Savings Bank reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net interest income was $3,719,000 against $3,712,000 a year ago. Net interest income after provision for loan losses was $3,644,000 against $3,627,000 a year ago. Income before income taxes was $1,574,000 against $1,561,000 a year ago. Net income was $1,099,000 against $1,374,000 a year ago. This decrease was the net result of a decrease in noninterest income of $145,000 and an increase in tax expense of $288,000, offset by a decrease in noninterest expense of $141,000, an increase in net interest income of $7,000 and a decrease in the provision for loan losses of $10,000. Net income attributable to Elmira Savings Bank was $1,099,000 against $1,374,000 a year ago. Income available to common shareholders was $874,000 or $0.31 per diluted share against $1,105,000 or $0.40 diluted per share a year ago. Annualized return on average assets was 0.86% against 1.07% a year ago. Annualized return on average equity was 7.95% against 9.67% a year ago. For the six months, the company's net interest income was $7,592,000 against $7,511,000 a year ago. Net interest income after provision for loan losses was $7,463,000 against $7,246,000 a year ago. Income before income taxes was $3,119,000 against $3,289,000 a year ago. Net income was $2,159,000 against $2,566,000 a year ago. This decrease was the net result of a decrease in noninterest income of $341,000, an increase in tax expense of $237,000, and an increase in noninterest expense of $46,000, offset by an increase in net interest income of $81,000 and a decrease in the provision for loan losses of $136,000. Net income attributable to Elmira Savings Bank was $2,159,000 against $2,566,000 a year ago. Income available to common shareholders was $1,709,000 or $0.61 diluted per share against $1,896,000 or $0.69 diluted per share a year ago. Book value per share was $16.87. Return on average assets was 0.85% against 0.99% for the same period a year ago. Return on average equity was 7.89% against 8.38% for the same period a year ago. For the second quarter of 2014, the company's net charge-offs were $143,000.

 

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