BETHLEHEM, Pa., Oct. 21, 2024 (Globe Newswire) — Embassy Bancorp, Inc. (OTCQX: EMYB) – Lehigh Valley Embassy Bank announces the bank has been named this year’s 2024 Morning of the Year I am very happy and honored to be able to do this. Voted Readers’ Choice as “Best Bank” in the Lehigh Valley. This recognition reinforces Embassy’s commitment, first made nearly 23 years ago, to exceed customer expectations while setting the standard for community banking. The bank offers innovative banking solutions, personalized service and services. We help our customers reach their full financial potential with expert guidance from experts.
Since its founding in November 2001, the Bethlehem-based bank has consistently achieved annual deposit growth in Pennsylvania’s two-county region.
According to the Federal Deposit Insurance Corporation’s Summary of Deposits (SOD), Embassy has once again gained deposit market share, growing to 8.86% in Lehigh and Northampton counties combined as of June 30, 2024. This is up from 8.53% in the two counties. As of June 30, 2023, one year ago, it ranked 4th in overall SOD deposit market share.
According to the Lehigh Valley Economic Development Corporation, the Lehigh Valley boasts a thriving economy, recently ranked No. 1 in U.S. midsize markets for development projects and in the top 15% of U.S. manufacturing markets based on GDP. There is.
“Our region offers a tremendous level of opportunity for Embassy’s entrepreneurial bankers,” said David M. Robach, Chairman, CEO, and President of Embassy Bank. “As we compete with the largest banks in the country, there is a growing need for community bankers who understand our thinking.” You can’t underestimate the market. Our team lives and works in close proximity to the regions we serve, which greatly aids in earning our customers’ trust and ultimately our continued organic growth. Masu. ”
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The FDIC’s SOD provides aggregate deposits at each of the more than 76,000 domestic branches operated by the more than 4,500 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. The report also shows that Embassy remains the No. 1 Lehigh Valley-based bank in market share in both counties.
Lehigh Valley Embassy Bank operates 10 locations in Lehigh and Northampton Counties, Pennsylvania, complemented by a full-service suite of 24/7 digital banking products. Embassy Bancorp, Inc. is the parent company of Embassy Bank of the Lehigh Valley. Embassy Bancorp, Inc.’s common stock is publicly traded and is priced on the OTCQX under the symbol EMYB.
For more information about Embassy Bank’s services, please visit www.embassybank.com.
Safe harbor for forward-looking statements
This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends may differ materially from those described in such statements due to various risks, uncertainties and other factors. Risks, uncertainties and other factors that could cause actual results or experience to differ from expectations include, but are not limited to: inefficiencies in the company’s business strategy due to changes in current or future market conditions; the effects of competition and changes in laws and regulations, including industry consolidation and the development of competing financial products and services; movements in interest rates. Changes in credit quality. difficulties in integrating disparate business operations, including information technology issues; Stock market volatility. adverse economic conditions and other risks and uncertainties; These include those detailed in Embassy Bancorp, Inc.’s filings with the Securities and Exchange Commission (SEC). This statement is valid only as of the date hereof, and Embassy Bancorp, Inc. undertakes no obligation to update this information.
Contact: David M. Lobach, Jr. (610)882-8800
