ECB Bancorp, Inc. Reports Fourth Quarter and Year End Results

For Immediate Release Date: February 5, 2026 Contact: Richard J. O’Neil, Jr. President and Chief Executive Officer Phone: 617-387-1110 Email: rjoneil@everettbank.com ECB Bancorp, Inc. Reports Fourth Quarter and Year End Results EVERETT, MA, February 5, 2026 - ECB Bancorp, Inc. (NASDAQ-ECBK) (the “Company”), the holding company for Everett Co-operative Bank (the “Bank”), a state-chartered co-operative bank headquartered in Everett, Massachusetts, today reported net income of $2.6 million, or $0.31 per diluted share, for the quarter ended December 31, 2025, as compared to $1.4 million, or $0.17 per diluted share, for the quarter ended December 31, 2024. For the year ended December 31, 2025, the Company reported net income of $7.8 million, or $0.94 per diluted share, as compared to net income of $4.0 million, or $0.48 per diluted share, for the year ended December 31, 2024. Richard J. O’Neil, Jr., President and Chief Executive Officer, said, "During the fourth quarter, we continued to execute on our strategy of disciplined balance sheet growth and thoughtful capital deployment. Loans increased $237.0 million, or 20.7% year over year, while deposits grew $133.8 million, or 13.4% over the same period. Net interest margin expanded during the year, and we continued to make meaningful progress improving our efficiency ratio from 78.8% in 2024, to 64.2% in 2025. Credit quality remains extremely strong, with nonperforming assets representing just 0.07% of total assets. As we look ahead to 2026, we are excited to further expand our footprint with the opening of our new branch in Medford, MA." NET INTEREST AND DIVIDEND INCOME Net interest and dividend income before provision for credit losses was $9.2 million for the quarter ended December 31, 2025, as compared to $6.8 million for the quarter ended December 31, 2024, representing an increase of $2.4 million, or 34.9%. This increase was driven by increases in the average balance and yields on loans as well as a decrease in the average cost of interest-bearing liabilities. The resulting net interest margin expanded by 38 basis points to 2.32% for the quarter ended December 31, 2025 as compared to 1.94% for the quarter ended December 31, 2024. The provision for credit losses was $241,000 for the quarter ended December 31, 2025 as compared to a benefit of $311,000 for the quarter ended December 31, 2024. The combination of these items resulted in net interest and dividend income after provision for credit losses of $8.9 million for the quarter ended December 31, 2025, as compared to $7.1 million for the quarter ended December 31, 2024, or an increase of $1.8 million, or 25.6%. Net interest and dividend income before provision for credit losses was $31.9 million for the year ended December 31, 2025, as compared to $25.0 million for the year ended December 31, 2024, or an increase of $6.9 million, or 27.7%. This increase was primarily due to increases in the average balance and yields on loans as well as a decrease in the average cost of interest-bearing liabilities. The resulting net interest margin expanded 26 basis points to 2.12% for the year ended December 31, 2025 as compared to 1.86% for the year ended December 31, 2024. The provision for credit losses was $1.5 million for the year ended December 31, 2025, as compared to $174,000 for the year ended December 31, 2024. The combination of these items resulted in net interest and dividend income after provision for credit losses of $30.4 million for the year ended December 31, 2025, as compared to $24.8 million for the year ended December 31, 2024, or an increase of $5.6 million, or 22.4%. NONINTEREST INCOME Noninterest income was $360,000 for the quarter ended December 31, 2025, as compared to $327,000 for the quarter ended December 31, 2024, or an increase of $33,000, or 10.1%, and was $1.3 million for the year ended December 31, 2025, as compared to $1.2 million for the year ended December 31, 2024, or an increase of $100,000, or 8.2%. NONINTEREST EXPENSE Noninterest expense was $5.8 million for the quarter ended December 31, 2025, as compared to $5.5 million for the quarter ended December 31, 2024, or an increase of $302,000, or 5.5%. Noninterest expense was $21.3 million for year ended December 31, 2025, as compared to $20.7 million for the year ended December 31, 2024, or an increase of $661,000, or 3.2%. INCOME TAXES Income tax expense was $891,000 for the quarter ended December 31, 2025, as compared to $493,000 for the quarter ended December 31, 2024, reflecting effective tax rates of 25.5% and 25.4%, respectively. Income tax expense was $2.6 million for the year ended December 31, 2025, as compared to $1.4 million for the year ended December 31, 2024, reflecting effective tax rates of 25.1% and 25.7%, respectively. BALANCE SHEET Total assets were $1.61 billion at December 31, 2025, as compared to $1.42 billion at December 31, 2024, or an increase of $187.5 million, or 13.2%. Cash and cash equivalents decreased $70.7 million, or 44.9%, to $86.9 million at December 31, 2025 from $157.6 million at December 31, 2024. The decrease in cash and cash equivalents was driven by growth in both loans and investments that in aggregate was greater than our growth in deposits and borrowings. Interest-bearing time deposits were $8.0 million at December 31, 2025, as compared to $100,000 at December 31, 2024, or an increase of $7.9 million. This increase was due to purchases of new interest-bearing time deposits. Investments in securities available for sale were $34.3 million at December 31, 2025, as compared to $6.6 million at December 31, 2024, or an increase of $27.8 million, or 422.8%. This increase was due to purchases of new securities. Investments in securities held to maturity were $55.8 million at December 31, 2025, as compared to $73.2 million at December 31, 2024, or a $17.5 million, or 23.8%, decrease. This decrease was due to maturities and principal paydowns of securities. Total gross loans were $1.38 billion at December 31, 2025, as compared to $1.15 billion at December 31, 2024, or an increase of $237.0 million, or 20.7%. • Commercial real estate loans increased $107.4 million, or 46.9%, to $336.4 million at December 31, 2025, from $229.0 million at December 31, 2024. • Multi-family real estate loans increased $81.5 million, or 23.7%, to $425.4 million at December 31, 2025, from $344.0 million at December 31, 2024. • Residential real estate loans increased $50.6 million, or 12.0%, to $473.4 million at December 31, 2025, from $422.8 million at December 31, 2024. • Home equity lines of credit increased $4.7 million, or 10.4%, to $49.9 million at December 31, 2025, from $45.2 million at December 31, 2024. • Consumer loans increased $728,000, or 516.3%, to $869,000 at December 31, 2025, from $141,000 at December 31, 2024. • Construction loans decreased $1.9 million, or 2.1%, to $89.0 million at December 31, 2025, from $90.9 million at December 31, 2024. • Commercial loans decreased $5.9 million, or 42.7%, to $7.9 million at December 31, 2025, from $13.8 million at December 31, 2024. Total deposits were $1.13 billion at December 31, 2025, as compared to $998.5 million at December 31, 2024, or an increase of $133.8 million, or 13.4%. • Certificates of deposit increased $122.8 million, or 20.3%, to $728.3 million at December 31, 2025 from $605.5 million at December 31, 2024. • Money market deposit accounts increased $27.2 million, or 14.7%, to $211.8 million at December 31, 2025 from $184.6 million at December 31, 2024. • Interest-bearing checking accounts decreased $1.2 million, or 5.7%, to $19.4 million at December 31, 2025 from $20.5 million at December 31, 2024. • Demand deposit accounts decreased $3.5 million, or 4.1%, to $81.5 million at December 31, 2025 from $85.0 million at December 31, 2024. • Savings accounts decreased $11.6 million, or 11.2%, to $91.4 million at December 31, 2025 from $102.9 million at December 31, 2024. FHLB advances increased $50.8 million, or 21.7%, to $284.8 million at December 31, 2025 from $234.0 million at December 31, 2024. The increase in FHLB advances was used primarily to fund loan growth. Total shareholders' equity increased $3.7 million, or 2.2%, to $171.9 million as of December 31, 2025 from $168.3 million as of December 31, 2024. This increase is primarily the result of earnings of $7.8 million. Partially offsetting the increase from earnings were decreases in additional paid-in capital ("APIC") and accumulated other comprehensive income ("AOCI") of $3.2 million and $1.3 million, respectively. The decrease in APIC was driven by $4.6 million in shares repurchased under our share repurchase plan, partially offset by an increase in APIC of $1.5 million related to stock-based compensation and ESOP shares committed to be released. The decrease in AOCI was driven by a decrease in the fair value of cash flow hedges. The book value per share increased $1.05 to $19.55 at December 31, 2025 from $18.50 at December 31, 2024. ASSET QUALITY Asset quality remains strong. The allowance for credit losses on loans in total and as a percentage of total gross loans as of December 31, 2025 was $10.3 million and 0.74%, respectively, as compared to $8.9 million and 0.78%, respectively, as of December 31, 2024. For the years ended December 31, 2025 and December 31, 2024, the Company recorded net charge offs of $86,000 and $3,000, respectively. Total non-performing assets were $1.1 million, or 0.07%, of total assets as of December 31, 2025, and $2.0 million, or 0.14% of total assets, as of December 31, 2024. Company Profile ECB Bancorp, Inc. is headquartered in Everett, Massachusetts and is the holding company for Everett Co-operative Bank. The Bank provides financial services to individuals, families, municipalities and businesses through its three full-service branch offices located in Everett, Lynnfield and Woburn, Massachusetts. The Company's common stock is traded on the NASDAQ Capital Market under the symbol "ECBK." For more information, visit the Company's website at www.everettbank.com. Forward-looking statements Certain statements herein constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the beliefs and expectations of management, as well as the assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. As a result, actual results may differ from those contemplated by these statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include changes in the interest rate environment, changes in general economic conditions, the Company's ability to continue to increase loans and deposit growth, legislative and regulatory changes that adversely affect the businesses in which the Company is engaged and changes in the securities market. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking statements, whether in response to new information, future events or otherwise, except as may be required by law. ECB Bancorp, Inc. and Subsidiary Consolidated Balance Sheets December 31, 2025 and December 31, 2024 (unaudited) (in thousands except share data) December 31, 2025 December 31, 2024 ASSETS Cash and due from banks $ 4,121 $ 5,828 Short-term investments 82,801 151,789 Total cash and cash equivalents 86,922 157,617 Interest-bearing time deposits 7,998 100 Investments in available-for-sale securities (at fair value) 34,317 6,564 Investments in held-to-maturity securities, at cost (fair values of $52,326 at December 31, 2025 and $67,505 at December 31, 2024) 55,764 73,215 Loans held-for-sale 357 — Loans, net of allowance for credit losses of $10,255 as of December 31, 2025 and $8,884 as of December 31, 2024 1,371,819 1,136,449 Federal Home Loan Bank stock, at cost 11,852 10,000 Premises and equipment, net 3,429 3,512 Accrued interest receivable 5,214 4,015 Deferred tax asset, net 5,667 4,914 Bank-owned life insurance 15,420 14,945 Other assets 6,894 6,822 Total assets $ 1,605,653 $ 1,418,153 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Noninterest-bearing $ 81,497 $ 84,958 Interest-bearing 1,050,847 913,575 Total deposits 1,132,344 998,533 Federal Home Loan Bank advances 284,815 234,000 Other liabilities 16,560 17,352 Total liabilities 1,433,719 1,249,885 Shareholders' Equity: Preferred Stock, par value $0.01; Authorized: 1,000,000 shares; No shares issued or outstanding — — Common Stock, par value $0.01; Authorized: 30,000,000 shares; Issued and outstanding: 8,792,719 shares and 9,095,833 shares, at December 31, 2025 and December 31, 2024, respectively 88 91 Additional paid-in capital 82,997 86,189 Retained earnings 95,617 87,845 Accumulated other comprehensive (loss) income (896 ) 382 Unearned compensation - ESOP (5,872 ) (6,239 ) Total stockholders' equity 171,934 168,268 Total liabilities and stockholders' equity $ 1,605,653 $ 1,418,153 Book value per common share $ 19.55 $ 18.50 Regulatory Capital Ratios (Everett Co-operative Bank) Total capital to risk weighted assets 14.29 % 16.58 % Tier 1 capital to risk weighted assets 13.34 % 15.56 % Tier 1 capital to average assets 9.86 % 10.47 % ECB Bancorp, Inc. and Subsidiary Consolidated Statements of Income (unaudited) (in thousands except share data) Three months ended Year ended December 31, December 31, 2025 2024 2025 2024 Interest and dividend income: Interest and fees on loans $ 18,928 $ 15,384 $ 69,085 $ 57,852 Interest and dividends on securities 1,129 840 4,008 3,186 Interest on short term investments 896 1,585 4,970 6,004 Interest on interest-bearing time deposits 87 2 117 3 Total interest and dividend income 21,040 17,811 78,180 67,045 Interest expense: Interest on deposits 9,532 8,956 37,061 33,435 Interest on Federal Home Loan Bank advances 2,356 2,072 9,202 8,622 Total interest expense 11,888 11,028 46,263 42,057 Net interest and dividend income 9,152 6,783 31,917 24,988 Provision (benefit) for credit losses 241 (311 ) 1,534 174 Net interest and dividend income after provision (benefit) for credit losses 8,911 7,094 30,383 24,814 Noninterest income: Customer service fees 157 150 598 577 Income from bank-owned life insurance 121 119 475 473 Net gain on sales of loans 34 39 132 119 Other income 48 19 121 57 Total noninterest income 360 327 1,326 1,226 Noninterest expense: Salaries and employee benefits 3,543 3,419 13,188 13,062 Director compensation 205 210 797 834 Occupancy and equipment 306 245 1,102 1,033 Data processing 341 314 1,297 1,198 Computer software and licensing 111 126 441 443 Advertising and promotions 146 155 639 551 Professional fees 496 427 1,368 1,258 Federal Deposit Insurance Corporation deposit insurance 245 191 883 752 Other 390 394 1,615 1,538 Total noninterest expense 5,783 5,481 21,330 20,669 Income before income tax expense 3,488 1,940 10,379 5,371 Income tax expense 891 493 2,607 1,380 Net income $ 2,597 $ 1,447 $ 7,772 $ 3,991 Share data: Weighted average shares outstanding, basic 8,014,187 8,224,033 8,100,328 8,257,014 Weighted average shares outstanding, diluted 8,258,297 8,375,643 8,311,966 8,345,737 Basic earnings per share $ 0.32 $ 0.18 $ 0.96 $ 0.48 Diluted earnings per share $ 0.31 $ 0.17 $ 0.94 $ 0.48