BETHLEHEM, Pa., October 21, 2024 (GLOBE NEWSWIRE) – Embassy Bancorp, Inc. Call Readers’ Choice for BEST (NYSE:) BANKS in the Lehigh Valley. This recognition reinforces Embassy’s commitment, first made nearly 23 years ago, to exceed customer expectations while setting the standard in community banking. The Bank offers innovative banking solutions, attentive personal service and expert professional guidance, so that customers can achieve their full financial potential.
Since its inception in November 2001, the Bethlehem-based Bank has consistently achieved annual deposit growth in a two-county area of ​​Pennsylvania.
The Federal Deposit Insurance Corporation’s Summary of Deposits (SOD) shows that the Embassy has regained its deposit market share, growing to 8.86% in Lehigh & Northampton Counties combined as of June 30, 2024. This is an increase from 8.53% of the two counties as a year before June 30, 2023, and represents the 4th deposit market share in SOD.
The Lehigh Valley has a thriving economy and was recently ranked first among mid-sized US markets for development projects and the top 15% of manufacturing markets in the US based on GDP, according to the Lehigh Valley Economic Development Corporation.
Our region provides tremendous opportunities for entrepreneurial bankers, said David M. Lobach, Chairman, CEO and President, Embassy Bank. As we compete with our nation’s largest banks, the need for community bankers who understand our market cannot be understated. Our team lives and works in the neighborhoods we serve, and this goes a long way to earning our customers’ trust and ultimately, continued organic growth.
The FDIC SOD provides total deposits for each of the more than 76,000 domestic offices operated by more than 4,500 FDIC-insured commercial and savings banks, savings associations, and foreign bank branches in the US. This report also shows that Embassy remains the #1 Lehigh Valley-based bank in the combined county for market share.
Embassy Bank for the Lehigh Valley operates 10 locations throughout Lehigh and Northampton counties in Pennsylvania, which are equipped with a full service of digital banking products 24/7. Embassy Bancorp, Inc. is the parent company of Embassy Bank for the Lehigh Valley. Embassy Bancorp, Inc. stock price on OTCQX online stock price, EMYB
To learn more about Embassy Bank’s services, visit www.embassybank.com.
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This document may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Actual results and trends may differ materially from those expressed in such statements due to various risks, uncertainties and other factors. Risks, uncertainties and other factors that could cause actual results and experiences to differ from those projected include, but are not limited to, the following: ineffectiveness of 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; interest rate movements; changes in credit quality; difficulties in integrating different business operations, including information technology difficulties; volatility in the securities market; and deteriorating economic conditions, and other risks and uncertainties, including those detailed in Embassy Bancorp, Inc.’s filings. with the Securities and Exchange Commission (SEC). These statements are valid only as of the date specified and Embassy Bancorp, Inc. disclaims any obligation to update this information.
Contact: David M. Lobach, Jr. (610)882-8800
Source: Embassy Bancorp, Inc.
