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Stock impact report

Esquire Financial Holdings, Inc. Reports First Quarter 2020 Results

Esquire Financial Holdings, Inc. (ESQ) 
Last esquire financial holdings, inc. earnings: 4/24 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: investorrelations.esquirebank.com
Company Research Source: PR Newswire
JERICHO, N.Y., April 24, 2020 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the "Company"), the holding company for Esquire Bank, National Association ("Esquire Bank"), today announced its operating results for the first quarter of 2020. Significant events and achievements during the quarter include:Net income decreased 13% to $2.6 million, or $0.33 per diluted share, for the current quarter compared to net income of $3.0 million, or $0.39 per diluted share, for the quarter ended March 31, 2019. The Company recorded an additional provision for credit losses totaling $1.5 million, or $0.15 per diluted share, based on qualitative factors reflective of the rapid decline in economic conditions due to the COVID-19 pandemic. Returns on average assets and common equity were 1.28% and 9.22%, respectively, and 1.79% and 12.86%, respectively, for the quarter ended March 31, 2019. Supported by a strong net interest margin of 4.71%, net interest income for the first quarter incr Show less Read more
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