ENBP ENB Financial Corporation (QX)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): October 16, 2024

 

ENB Financial Corp

(Exact name of Registrant as specified in its charter)

 

Pennsylvania		000-53297		51-0661129
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

31 E. Main St., Ephrata, PA		17522-0457
(Address of principal executive offices)		(Zip Code)

 

     (717) 733-4181     

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	N/A	N/A

 

 

 

Item 8.01

Other Events

 

On October 16, 2024, ENB Financial Corp declared a $0.18 per share 4th quarter cash dividend payable on December 13, 2024, to shareholders of record on November 15, 2024.

 

The Board of Directors also approved a plan to repurchase, in open market and privately negotiated transactions, up to 200,000 shares of the Corporation’s outstanding common stock. This current plan replaces the last repurchase plan announced in 2020 and allows for an additional 200,000 shares to be repurchased.

 

The October 16, 2024 press release announcing the 4th quarter dividend and the renewal of the buyback plan is attached as Exhibit 99.1 and incorporated herein by reference.

 

Item 9.01.

Financial Statements and Exhibits

 

(d) Exhibits

 

The following exhibits are filed in this Current Report.

 

Exhibit
Number	Description	Page Number
99.1	October 16, 2024 press release related to the announcement of ENB Financial Corp’s 4th quarter cash dividend and the renewal of a common stock repurchase program.	4
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	ENB Financial Corp
	(Registrant)
Dated: October 17, 2024	By:	/s/ Rachel G. Bitner
		Rachel G. Bitner
		Treasurer
		(Principal Financial Officer)

 

 

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE	Contact:	Rachel G. Bitner
	Phone:	717- 733-4181

 

ENB Financial Corp Announces Quarterly Cash Dividend and Renewal of Common Stock Repurchase Program

 

(October 16, 2024) -- Ephrata, PA – ENB Financial Corp (OTCQX: ENBP), declared a fourth quarter cash dividend today, October 16, 2024, of $0.18 per share, an increase of $0.01, or 5.9%, from the dividend paid in the third quarter of 2024 and the fourth quarter of 2023. The dividend applies to all shareholders of record as of November 15, 2024, and is payable on December 13, 2024. Shareholders will receive $0.18 for each share of ENB Financial Corp common stock owned as of the record date.

 

The Board of Directors also approved a plan to repurchase, in open market and privately negotiated transactions, up to 200,000 shares of the Corporation’s outstanding common stock, which may be adjusted for future stock dividends, stock splits or other similar transactions. This current plan replaces the last repurchase plan announced in 2020. The Corporation believes the repurchase of its stock may increase the return on equity and the net income per share of the remaining outstanding shares of common stock and enhance long-term shareholder value. The purchases are funded with liquidity based on capital levels in excess of regulatory requirements. These stock repurchases are not expected to have a material impact on capital levels due to the consistent nature of the buyback plans.

 

About ENB Financial Corp

 

ENB Financial Corp, headquartered in Ephrata, PA, is the bank holding company for its wholly-owned subsidiary Ephrata National Bank. Ephrata National Bank operates from thirteen full-service locations in Lancaster County, southeastern Lebanon County, and southern Berks County, Pennsylvania, with the headquarters located at 31 E. Main Street, Ephrata, PA. Ephrata National Bank has been serving the community since 1881. For more information about ENB Financial Corp, visit the Corporation’s web site at www.enbfc.com.

 

Notice Regarding Forward Looking Statements

 

This news release may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risk, uncertainties and other factors which may cause the actual results of ENB Financial Corp to be materially different from future results expressed or implied by such forward-looking statements. These forward-looking statements can be identified by use of terminology such as “expect”, “plan”, “anticipate”, “believe”, “estimate”, and similar words that are intended to identify such forward-looking statements. These forward-looking statements are based on management’s current expectations, assumptions, estimates, and projections about the Corporation, the financial services industry, and the economy. The Private Securities Reform Act of 1995 provides safe harbor in the event the projected future operations are not met. There are a number of future factors such as changes in fiscal or monetary policy, or changes in the economic climate that will influence the Corporation’s future operations. These factors are difficult to predict with regard to how likely and to what degree or significance that they would occur. Actual results may differ materially from what may have been forecasted in the forward-looking statements. We are not obligated to publicly update any forward-looking statements to reflect the effects of subsequent events.

 

( End )

 

 

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Cover	Oct. 16, 2024
Cover [Abstract]
Document Type	8-K
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Document Period End Date	Oct. 16, 2024
Entity File Number	000-53297
Entity Registrant Name	ENB Financial Corp
Entity Central Index Key	0001437479
Entity Tax Identification Number	51-0661129
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	31 E. Main St.
Entity Address, City or Town	Ephrata
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17522-0457
City Area Code	717
Local Phone Number	733-4181
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Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false

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