The 11bp NIM expansion and 3.9% sequential loan growth confirm the bank's ability to reprice assets faster than deposit costs in a stable rate environment. Watch Q4 for Medford branch contribution to contribute incremental expense run-rate and whether the branch drives deposit gathering as advertised.
Price Chart
Executive Summary
ECB Bancorp reported Q3 2026 net income of $3.4M ($0.40/diluted share), up from $3.3M in Q2 2026 and $2.4M in Q3 2025. Net interest margin expanded 11bp to 2.56% on strong loan growth (+3.9% QoQ) and higher asset yields, while expenses rose 8% QoQ due to Medford branch build-out. The sequential improvement in core earnings and margin is a modest positive for this small-cap thrift.
Key Financial Metrics
Key Facts
- Net income $3.4M vs $3.3M Q2 2026 and $2.4M Q3 2025; diluted EPS $0.40 vs $0.39 Q2 and $0.29 year-ago
- Net interest margin expanded 11bp to 2.56% from 2.45% Q2 2026, driven by higher loan yields (5.72% vs 5.69%) and lower deposit costs (3.40% vs 3.43%)
- Total loans grew $55.5M (+3.9%) to $1.46B, broad-based led by CRE (+$14.6M), multi-family (+$14.2M), and construction (+$13.8M)
- Deposits ex-brokered grew $63.2M; brokered CDs declined $45M; total deposits +$18.3M to $1.21B
- Noninterest expense rose 8.0% QoQ to $6.3M, driven by Medford branch hiring (+$256K salaries) and marketing (+$73K)
- Book value per share increased to $21.16 from $20.56 Q2 2026; non-performing assets remain negligible at 0.08% of total assets
- Medford branch opened Oct 13, 2026 — fourth full-service location
Financial Impact
Net income +$130K QoQ (+4.0%) and +$952K YoY (+39.0%); NIM +11bp to 2.56%
Risk Factors
- Noninterest expense growth (+8% QoQ) may persist as Medford branch ramps up, pressuring efficiency ratio
- FHLB advances rose to $310.7M average vs $269M Q2, increasing wholesale funding reliance
- Small-cap bank liquidity; ECBK trades on NASDAQ Capital Market with limited float
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-033178 |
| Document: ecbk20260808_8k.htm | 0001437749-26-033178 |
| Document: 0001437749-26-033178-index-headers.html | 0001437749-26-033178 |
| Document: 0001437749-26-033178-index.html | 0001437749-26-033178 |
| Document: 0001437749-26-033178.txt | 0001437749-26-033178 |
| 8-K Data (Synthetic) | 0001437749-26-033178 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $21.33 $21.66 | ▲ +1.55% | ▲ +2.07% | $20.83 (−2.34%) |
Sep 23, 2026 4w ago | 3 | $20.05 $20.70 | ▲ +3.24% | ▲ +3.32% | $20.83 (+3.89%) |
Sep 22, 2026 4w ago | 8-K | $20.05 $20.70 | ▲ +3.24% | ▲ +3.32% | $20.83 (+3.89%) |
Jul 23, 2026 13w ago | 8-K | $20.23 $19.91 | ▼ −1.58% | ▼ −1.68% | $20.83 (+2.97%) |
Apr 23, 2026 26w ago | 8-K | $18.27 $18.12 | ▼ −0.82% | ▼ −0.98% | $20.83 (+14.01%) |
US Market Status
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