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Embassy Bank Gains Market Share, Earning 4th Seat in Lehigh & Northampton Counties Combined

2023-10-03 00:01 ET - News Release

BETHLEHEM, Pa., Oct. 03, 2023 (GLOBE NEWSWIRE) -- Embassy Bancorp, Inc. (OTCQX: EMYB) - Since its inception in November 2001, Bethlehem-based Embassy Bank for the Lehigh Valley has consistently achieved annual deposit growth, further shoring up its already-impressive deeply rooted ties to the very community for which the organization was founded and aptly named.

As a result, the Federal Deposit Insurance Corporation’s Summary of Deposits indicates that Embassy has once again gained deposit market share, claiming the 4th spot, overtaking PNC Bank in Lehigh & Northampton Counties combined as of June 30, 2023.

The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 77,000 domestic offices operated by more than 4,600 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. This report also indicated that Embassy remains the #1 Lehigh Valley-based bank in the combined counties for market share.

“We have so much to be proud of,” said David M. Lobach, Chairman, CEO and President, Embassy Bank. “The competition for deposits is real, and the economic challenges our customers face are just as real. By sticking to our core values – exceeding customer expectations and providing competitive banking products to businesses and families in the Lehigh Valley – we have earned the trust of our community to see them through to better days.”

In addition to its solid footing in market share, Embassy Bank was recently awarded a 5-star rating from BauerFinancial, Inc., the nation’s premier bank rating firm, recognizing the Bank for its financial strength and stability.

Earning Bauer’s coveted 5-Star superior rating confirms that Embassy Bank is one of the strongest banks in the country, excelling in areas such as, but not limited to, capital adequacy, profitability, reserves, liquidity, and asset quality.

Embassy Bank for the Lehigh Valley operates 10 locations throughout Lehigh and Northampton counties of Pennsylvania, complimented by a full-service suite of 24/7 digital banking products. Its holding company Embassy Bancorp, Inc. is publicly traded on the OTC exchange under the symbol EMYB.

To learn more about Embassy Bank’s services, 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 could differ materially from those set forth in such statements due to various risks, uncertainties and other factors. Such risks, uncertainties and other factors that could cause actual results and experience 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 of changes in laws and regulations, including industry consolidation and development of competing financial products and services; interest rate movements; changes in credit quality; difficulties in integrating distinct business operations, including information technology difficulties; volatilities in the securities markets; 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). The statements are valid only as of the date hereof and Embassy Bancorp, Inc. disclaims any obligation to update this information.

Contact: David M. Lobach, Jr. (610)882-8800

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