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Stock impact report

Enterprise Bancorp, Inc. Announces First Quarter Financial Results [Yahoo! Finance]

Enterprise Bancorp Inc (EBTC) 
US:NASDAQ Investor Relations: enterprisebanking.com
Company Research Source: Yahoo! Finance
Net income amounted to $8.5 million, or $0.69 per diluted common share, for the three months ended March 31, 2024, compared to $7.9 million, or $0.64 per diluted share, for the three months ended December 31, 2023 and $10.8 million, or $0.88 per diluted share, for the three months ended March 31, 2023. Selected financial results at or for the three months ended March 31, 2024, were as follows: The returns on average assets and average equity were 0.75% and 10.47%, respectively. Tax-equivalent net interest margin (non-GAAP) ("net interest margin") was 3.20%. Total loans increased 2.4% compared to December 31, 2023. Total deposits increased 3.2% compared to December 31, 2023. Wealth assets under management and administration amounted to $1.37 billion and increased 4.0% compared to December 31, 2023. Chief Executive Officer Jack Clancy commented, "The first quarter of 2024 had solid net income with strong loan and deposit growth. Higher deposit costs and the inverted yield Show less Read more
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