STATEN ISLAND, N.Y., July 22, 2026 (GLOBE NEWSWIRE) -- ES Bancshares, Inc. (OTCQX: ESBS) (the “Company”) the holding company for Empire State Bank, (the “Bank”) today reported net income of $882 thousand, or $0.13 per diluted common share, for the quarter ended June 30, 2026, compared to a net income of $1.1 million, or $0.16 per diluted common share for the quarter ended March 31, 2026.


Key Quarterly Financial Data							2026 Highlights
Performance Metrics	2Q26		1Q26		4Q25		• Total deposits grew by $4.2 million from year end 2025 inclusive of a $5.0 million decrease in brokered deposits. • The Cost of Funds for the three months ended June 30, 2026, dropped to 2.41% from 2.44% in the prior linked quarter. • For 3 months ended June 30, 2026, the Company’s net interest margin increased to 3.10% compared to 3.06% for the 3 months ended March 31, 2026. • The Company repurchased 40,000 shares in the second quarter of 2026. • Book value for the quarter ended June 30, 2026, totaled $7.64 per share increasing for the ninth consecutive quarter.
Return on average assets (%)		0.57		0.71		0.42
Return on average equity (%)		6.72		8.91		5.31
Return on average tangible equity (%)		6.80		9.02		5.37
Net interest margin (%)		3.10		3.06		2.77

Income Statement (a)	2Q26		1Q26		4Q25
Net interest income	$	4,666	$	4,698	$	4,239
Non-interest income	$	317	$	366	$	403
Net income	$	882	$	1,108	$	659
Earnings per diluted common share	$	0.13	$	0.16	$	0.10

Balance Sheet (a)	2Q26		1Q26		4Q25
Average total loans	$	533,801	$	541,939	$	553,324
Average total deposits	$	503,839	$	515,419	$	512,918
Book value per share	$	7.64	$	7.50	$	7.34
Tangible book value per share	$	7.56	$	7.42	$	7.25
(a) In thousands except for per share amounts

Phil Guarnieri, Director, and Chief Executive Officer of ES Bancshares said “We were able to repurchase 40,000 shares at a discount to our book value in the second quarter. We increased pre-tax income by $130 thousand as we continue to control our costs and expenses. We continue to deploy various strategic decisions to increase our stockholder value.”

Selected Balance Sheet Information:

June 30, 2026 vs. December 31, 2025

As of June 30, 2026, total assets were $617.6 million, an increase of $952 thousand, or 0.2%, as compared to total assets of $616.7 million on December 31, 2025. The increase can be attributed to our growth in retail deposits that were partially offset by reductions in our borrowed funds and brokered deposits.

Loans receivable, net of Allowance for Credit Losses on Loans totaled $526.2 million, a decrease of $18.3 million or 3.4% from December 31, 2025. As of June 30, 2026, the Allowance for Credit Losses on Loans as a percentage of gross loans was 0.97%.

Nonperforming assets, which includes nonaccrual loans and foreclosed real estate were $5.0 million or 0.80% of total assets, as of June 30, 2026, decreasing since December 31, 2025. The ratio of nonaccrual loans to loans receivable was 0.94%, as of June 30, 2026, and 1.08% for December 31, 2025. The decrease from December 31, 2025, was primarily due to the payoff of one non-owner occupied commercial real estate loan in the first quarter of 2026.

Total liabilities decreased $860 thousand to $565.0 million at June 30, 2026, from $565.8 million at December 31, 2025. The decrease can be attributed to decrease in borrowed money of $3.4 million and a decrease in other liabilities of $757 thousand, partially offset by an increase in total deposits of $4.2 million.

As of June 30, 2026, the Bank's Tier 1 capital leverage ratio, common equity tier 1 capital ratio, Tier 1 capital ratio and total capital ratios were 10.13%, 15.07%, 15.07% and 16.32% respectively, all in excess of the ratios required to be deemed "well-capitalized." During the second quarter of 2026 the Company repurchased 40 thousand shares, or $237.4 thousand, under its stock repurchase program. We had announced a second stock repurchase plan for an addition $750,000. Book value per common share was $7.64 at June 30, 2026, compared to $7.34 at December 31, 2025. Tangible common book value per share (which represents common equity less goodwill, divided by the number of shares outstanding) was $7.56 at June 30, 2026, compared to $7.25 at December 31, 2025.

Financial Performance Overview:

Three Months Ended June 30, 2026, vs. March 31, 2026

For the three months ended June 30, 2026, the Company net income totaled $882 thousand, compared to a net income of $1.1 million for the three months ended March 31, 2026. The decrease can be attributed to higher income taxes, partially offset by lower non-interest expense.

Net interest income for the three months ended June 30, 2026 remained at $4.7 million despite the lower average loan balance during the current quarter. The Company’s net interest margin increased by 4 basis points to 3.10% for the three months ended June 30, 2026, as compared to 3.06% for the three months ended March 31, 2026. The increase in margin can be attributed to a decrease in interest expense on deposits. Our subordinated debt repriced as of April 30, 2026, and adjusts quarterly at a margin of 579 basis points over the 3-month SOFR rate.

There was a $52 thousand reversal for credit losses taken for the three months ended June 30, 2026, compared to a $21 thousand reversal for credit losses for the three months ended March 31, 2026. The reversal for credit losses was due to a partial recovery of taxi medallion loan that was previously charged-off.

Non-interest income decreased $49 thousand, to $317 thousand for the three months ended June 30, 2026, compared with non-interest income of $366 thousand for the three months ended March 31, 2026. The majority of the decrease can be attributed to lower service charges and fees on loans in the second quarter of 2026. We have not yet received the remaining ERTC installments for the 2021 tax year.

Non-interest expenses totaled $3.9 million for the three months ended June 30, 2026, compared to $4.0 million for the three months ended March 31, 2026. The largest fluctuations quarter over quarter were due to a $212 thousand decrease in compensation and benefits, partially offset by an increase of $43 thousand in marketing.

About ES Bancshares Inc.
ES Bancshares, Inc. (the “Company”) is incorporated under Maryland law and serves as the holding company for Empire State Bank (the “Bank”). The Company is subject to regulation by the Board of Governors of the Federal Reserve System while the Bank is primarily subject to regulation and supervision by the New York State Department of Financial Services. Currently, the Company does not transact any material business other than through the Bank, its subsidiary.

The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency. The Bank's deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter. The Bank’s principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans including SBA and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities, securities issued by the U.S. Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations.

We operate from our five Banking Center locations, a Loan Production Office and our Corporate Headquarters located in Staten Island, New York. The Company’s website address is www.esbna.com. The Company’s annual report, quarterly earnings releases and all press releases are available free of charge through its website, as soon as reasonably practicable.

Forward-Looking Statements

This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate” or “continue” or comparable terminology, are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within ES Bancshares, Inc’s. control. The forward-looking statements included in this release are made only as of the date of this release. We have no intention, and do not assume any obligation, to update these forward-looking statements.

Investor Contact:
Peggy Edwards, Corporate Secretary
(845) 451-7825


ES Bancshares, Inc. Consolidated Statement of Financial Condition (in thousands)
	June 30, 2026			December 31, 2025
	\|------(unaudited)------\|

Assets
Cash and cash equivalents	$	59,163		$	36,645
Securities, net		9,640			11,915
Loans receivable, net:
Real estate mortgage loans		515,019			528,158
Commercial and Lines of Credit		12,640			17,648
Home Equity and Consumer Loans		342			379
Deferred costs		3,378			3,544
Allowance for Loan Credit Losses		(5,140	)		(5,142	)
Total loans receivable, net		526,239			544,586
Accrued interest receivable		2,613			2,649
Investment in restricted stock, at cost		3,672			3,846
Goodwill		581			581
Bank premises and equipment, net		3,862			4,128
Repossessed assets		-			-
Right of use lease asset		4,571			5,019
Bank Owned Life Insurance		5,739			5,653
Other Assets		1,539			1,645
Total Assets	$	617,619		$	616,667

Liabilities & Stockholders' Equity
Non-Interest-Bearing Deposits	$	108,470		$	105,966
Interest-Bearing Deposits		388,240			381,531
Brokered Deposits		10,041			15,040
Total Deposits		506,751			502,537
Bond Issue, net of costs		11,350			11,823
Borrowed Money		35,936			39,328
Lease liability		4,855			5,307
Other Liabilities		6,082			6,839
Total Liabilities		564,974			565,834
Stockholders' equity		52,645			50,833
Total liabilities and stockholders' equity	$	617,619		$	616,667


	ES Bancshares, Inc. Consolidated Statement of Income (in thousands)
	Three Months Ended,
	June 30, 2026			March 31, 2026			December 31, 2025
	\|----------------(unaudited)----------------\|
Interest income
Loans	$	7,383		$	7,510		$	7,401
Securities		149			181			126
Other interest-earning assets		463			464			432
Total Interest Income		7,995			8,155			7,959
Interest expense
Deposits		2,602			2,721			2,985
Borrowings		727			736			735
Total Interest Expense		3,329			3,457			3,720
Net Interest Income		4,666			4,698			4,239
Reversal of Credit Losses		(52	)		(21	)		(10	)
Net Interest Income after Provision for Credit Losses		4,718			4,719			4,249
Non-interest income
Service charges and fees		270			301			357
Other		47			65			46
Total non-interest income		317			366			403
Non-interest expenses
Compensation and benefits		1,900			2,112			1,779
Occupancy and equipment		615			624			614
Data processing service fees		326			315			317
Professional fees		305			272			316
FDIC & NYS Banking Premiums		96			101			102
Marketing		122			79			85
Insurance		48			49			47
Other		451			491			490
Total non-interest expense		3,863			4,043			3,750
Income(loss) prior to tax expense		1,172			1,042			902
Income taxes		290			(66	)		243
Net Profit	$	882		$	1,108		$	659


	ES Bancshares, Inc.
	Average Balance Sheet Data
	For the Three Months Ended (dollars in thousands)
	June 30, 2026						March 31, 2026						December 31, 2025
	Avg Bal		Interest		Average		Avg Bal		Interest		Average		Avg Bal		Interest		Average
	Rolling 3 Mos.		Rolling 3 Mos.		Yield/Cost		Rolling 3 Mos.		Rolling 3 Mos.		Yield/Cost		Rolling 3 Mos.		Rolling 3 Mos.		Yield/Cost
Assets
Interest-earning assets:
Loans receivable	$	533,801	$	7,383	5.53	%	$	541,939	$	7,510	5.54	%	$	553,324	$	7,401	5.35	%
Investment securities		18,079		149	3.29	%		21,053		181	3.43	%		14,638		126	3.43	%
Other interest earning assets		49,961		463	3.76	%		50,677		464	3.71	%		43,364		432	3.94	%
Total interest-earning assets		601,841		7,995	5.31	%		613,669		8,155	5.32	%		611,326		7,959	5.21	%
Non-interest earning assets		14,932						28,474						14,542
Total assets	$	616,773					$	642,143					$	625,868
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Demand Deposit accounts	$	36,234	$	35	0.38	%	$	39,363	$	36	0.37	%	$	34,442	$	32	0.37	%
Savings accounts		214,768		1,282	2.39	%		221,971		1,360	2.48	%		221,921		1,533	2.74	%
Certificates of deposit		146,949		1,285	3.51	%		149,160		1,235	3.36	%		153,046		1,420	3.68	%
Total interest-bearing deposits		397,951		2,602	2.62	%		410,494		2,721	2.69	%		409,408		2,985	2.89	%
Borrowings		38,002		444	4.69	%		39,200		454	4.69	%		39,393		463	4.66	%
Subordinated debenture		11,346		283	9.97	%		11,337		282	9.95	%		11,820		272	9.20	%
Total interest-bearing liabilities		447,299		3,329	2.98	%		461,031		3,457	3.04	%		460,622		3,719	3.20	%
Non-interest-bearing demand deposits		105,270						104,925						103,510
Other liabilities		11,717						11,118						11,118
Total non-interest-bearing liabilities		116,987						116,043						114,628
Stockholders' equity		52,487						51,610						50,619
Total liabilities and stockholders' equity	$	616,773					$	642,143					$	625,868
Net interest income			$	4,666					$	4,698					$	4,239
Average interest rate spread (1)					2.33	%					2.27	%					2.01	%
Net interest margin (2)					3.10	%					3.06	%					2.77	%


(1) Average interest rate spread represents the difference between the yield on average interest-earning assets and and the cost of average interest-bearing liabilities.

(2) Net interest margin represents net interest income divided by average total interest-earning assets.


		ES Bancshares, Inc.
Five Quarter Performance Ratio Highlights		Three Months Ended
Five Quarter Performance Ratio Highlights		June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Performance Ratios (%) - annualized
	Return on Average Assets		0.57	%		0.71	%		0.42	%		0.41	%		0.66	%
	Return on Average Equity		6.72	%		8.91	%		5.31	%		5.12	%		8.44	%
	Return on Average Tangible Equity		6.80	%		9.02	%		5.37	%		5.18	%		8.55	%
	Efficiency Ratio		77.52	%		79.84	%		80.84	%		81.71	%		73.30	%
Yields / Costs (%)
	Average Yield - Interest Earning Assets		5.31	%		5.31	%		5.21	%		5.25	%		5.17	%
	Average Cost - Interest-bearing Liabilities		2.98	%		3.04	%		3.20	%		3.22	%		3.36	%
	Net Interest Margin		3.10	%		3.06	%		2.77	%		2.79	%		2.66	%
Capital Ratios (%)
	Equity / Assets		8.52	%		8.07	%		8.25	%		8.07	%		7.66	%
	Tangible Equity / Assets		8.44	%		7.99	%		8.16	%		7.98	%		7.58	%
	Tier I leverage ratio (a)		10.13	%		10.01	%		10.00	%		9.91	%		9.78	%
	Common equity Tier I capital ratio (a)		15.07	%		15.10	%		14.91	%		14.51	%		14.35	%
	Tier 1 Risk-based capital ratio (a)		15.07	%		15.10	%		14.91	%		14.51	%		14.35	%
	Total Risk-based capital ratio (a)		16.32	%		16.35	%		16.16	%		15.76	%		15.60	%
Stock Valuation
	Book Value (c)	$	7.64		$	7.50		$	7.34		$	7.24		$	7.13
	Tangible Book Value (c)	$	7.56		$	7.42		$	7.25		$	7.15		$	7.05
	Shares Outstanding (b)		6,887			6,927			6,926			6,926			6,927
Asset Quality (%)
	ACL / Total Loans		0.97	%		0.95	%		0.94	%		0.93	%		0.93	%
	Non Performing Loans / Total Loans		0.93	%		0.92	%		1.08	%		1.10	%		1.13	%
	Non Performing Assets / Total Assets		0.80	%		0.78	%		0.96	%		0.98	%		0.98	%

	(a) Ratios at Bank level (b) Shares information presented in thousands (c) Share value is in dollars

ES Bancshares, Inc. Announces Second Quarter 2026 Results; Ninth Consecutive Quarter of Growth in Our Book Value Per Share