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Enterprise Bancorp Inc. - EBTC STOCK NEWS

Welcome to our dedicated page for Enterprise Bancorp news (Ticker: EBTC), a resource for investors and traders seeking the latest updates and insights on Enterprise Bancorp stock.

Enterprise Bancorp Inc. (NASDAQ: EBTC), based in Lowell, Massachusetts, is a holding company predominantly operated through Enterprise Bank and Trust Company, commonly known as Enterprise Bank. Founded in 1988 by George L. Duncan, the company has a strong presence in the Merrimack Valley and North Central regions of Massachusetts, along with Southern New Hampshire. Enterprise Bank is dedicated to delivering a wide range of financial services that include commercial, residential, and consumer loan products, deposit products, and cash management services. Additionally, the Bank provides wealth management and trust services to its clientele.

Enterprise Bank's business model focuses on building lasting relationships with customers rather than merely conducting transactions. The bank emphasizes a customer-centric approach, supporting the financial needs of businesses, professionals, individuals, and communities. This approach has resulted in over 135 consecutive profitable quarters as of March 31, 2024.

The company has shown significant growth and robust financial health. For instance, net income for the three months ended June 30, 2023, was $9.7 million, an increase of 19% compared to the same period in the previous year. The Bank has also maintained a healthy net interest margin, standing at 3.55% for the same quarter, despite challenging economic conditions and interest rate environments.

Enterprise Bancorp's strategic moves include selling $84.8 million in investment securities and reinvesting the proceeds into higher-yielding short-term investments to enhance annualized income by approximately $2.0 million. The Bank's total assets amounted to $4.50 billion as of June 30, 2023, reflecting a steady growth trajectory.

Enterprise Bank continues to invest in its products, services, and people to ensure consistent and disciplined lending practices. The Bank prides itself on having a high level of liquidity with significant funding capacity, enabling it to seize market opportunities even in fluctuating economic climates.

With 27 full-service branches across Massachusetts and New Hampshire, Enterprise Bank remains deeply embedded in its community. The Bank has been repeatedly recognized for its corporate citizenship and contributions to employee volunteerism and corporate philanthropy.

In recent developments, Enterprise Bancorp reported net income of $7.9 million for the three months ended December 31, 2023. Despite the challenges of higher interest rates and an inverted yield curve, the Bank achieved commendable loan growth, indicating a solid footing in the market.

Looking forward, Enterprise Bancorp's Executive Chairman and Founder George Duncan and CEO Jack Clancy have expressed confidence in navigating future market conditions through continuous organic growth, investments in technology, and a steadfast commitment to their stakeholders.

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Enterprise Bancorp, Inc. (NASDAQ:EBTC) announced a quarterly dividend of $0.185 per share, set for payment on December 1, 2021. Shareholders of record by November 10, 2021 will be eligible for this dividend. The company, which operates primarily through Enterprise Bank and Trust Company, focuses on attracting deposits and investing in commercial loans and securities, offering various financial services across Massachusetts and New Hampshire. Enterprise Bank currently has 26 branches and plans to open a new branch in Londonderry, NH in early 2022.

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Enterprise Bancorp, Inc. (NASDAQ: EBTC) reported a net income of $11.1 million, or $0.92 per diluted share, for Q2 2021, a significant increase from $7.3 million and $0.61 per share in Q2 2020. Year-to-date, net income reached $21.5 million, or $1.79 per share compared to $11.3 million or $0.95 per share in the same period last year. The gains were driven by reduced provisions for loan losses and increases in net interest income, particularly from PPP loans. A quarterly dividend of $0.185 per share has been declared, set for September 1, 2021.

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On July 20, 2021, Enterprise Bancorp, Inc. (NASDAQ:EBTC) announced a quarterly dividend of $0.185 per share. This dividend will be paid on September 1, 2021, to shareholders on record as of August 11, 2021. Enterprise Bancorp operates primarily through Enterprise Bank, focusing on attracting deposits and investing in commercial loans and securities. The company serves areas in Massachusetts and New Hampshire with 26 full-service branches and is planning to open a new branch in Londonderry, NH, in the second quarter of 2022.

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Enterprise Bancorp, Inc. (NASDAQ: EBTC) reported Q1 2021 net income of $10.4 million, or $0.86 per diluted share, up from $4.0 million, or $0.34 per share in Q1 2020. The growth in net income was primarily driven by an increase in net interest income, which rose to $34.7 million, up 16% year-over-year. The company has actively participated in the Paycheck Protection Program (PPP), approving 4,080 loans totaling $710.3 million. Customer deposits increased by 8% to $3.74 billion, aided by PPP funds and government stimulus. However, total assets grew only modestly by 6% to $4.26 billion.

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Enterprise Bancorp, Inc. (NASDAQ: EBTC) has announced a quarterly dividend of $0.185 per share, set for payment on June 1, 2021.

Shareholders must be on record by May 11, 2021 to receive this dividend. The company operates primarily through Enterprise Bank, which offers a diverse range of financial services including commercial loans, deposit products, and wealth management solutions. Enterprise Bank has a strong presence in the Greater Merrimack Valley, with 26 branches in Massachusetts and New Hampshire, and is planning to open a new branch in Londonderry, NH in early 2022.

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Enterprise Bancorp, Inc. (NASDAQ: EBTC) reported a net income of $31.5 million for the year ended December 31, 2020, down 8% from $34.2 million in 2019. For Q4 2020, net income rose 13% to $9.9 million. The company saw significant growth in both loans and customer deposits, largely driven by PPP loans. However, loan loss provisions increased significantly to $12.5 million amidst COVID-19 uncertainties. While net interest income grew 12% to $130.1 million, the net interest margin declined to 3.59%. The company declared a quarterly dividend of $0.185 per share scheduled for March 1, 2021.

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Enterprise Bancorp, Inc. (NASDAQ:EBTC) declared a quarterly dividend of $0.185 per share on January 19, 2021, scheduled for payment on March 1, 2021. Shareholders of record as of February 8, 2021 will receive this dividend. The company operates primarily through Enterprise Bank and Trust Company, providing a variety of financial services, including loans and deposits, across Massachusetts and Southern New Hampshire. The company recently opened a new branch in North Andover, MA, and plans to establish another in Londonderry, NH, by early 2022.

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Enterprise Bancorp (NASDAQ: EBTC) reported a net income of $10.3 million, or $0.87 per diluted share, for Q3 2020, up from $9.0 million, or $0.76 per share, in Q3 2019. However, net income for the first nine months of 2020 fell to $21.6 million, or $1.81 per share, compared to $25.5 million, or $2.15 per share, in the same period last year. The bank's growth was significantly driven by the Paycheck Protection Program (PPP), with loans totaling $508 million. The company will adopt CECL, estimating an increase in loan loss allowances by $8-$11 million.

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Enterprise Bancorp, Inc. (NASDAQ:EBTC) announced a quarterly dividend of $0.175 per share, set for payment on December 1, 2020, to shareholders on record by November 10, 2020. The company operates primarily through Enterprise Bank, which provides various banking services including commercial and residential loans, deposits, and wealth management. With 25 branches across Massachusetts and New Hampshire, Enterprise Bank focuses on the Greater Merrimack Valley, Nashoba Valley, and North Central regions. Additionally, a new branch in North Andover, MA is expected to open in early 2021.

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Enterprise Bancorp, Inc. (NASDAQ: EBTC) reported net income of $7.3 million for Q2 2020, down from $7.8 million in Q2 2019. For the first half of 2020, net income was $11.3 million, reduced from $16.5 million year-over-year. Total assets increased by 25% to $4.04 billion, with total loans growing 24% to $3.18 billion, significantly influenced by the Paycheck Protection Program (PPP), which accounted for $508 million in approved loans. The company also issued $60 million in subordinated notes to bolster capital amid economic uncertainty due to COVID-19.

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FAQ

What is the current stock price of Enterprise Bancorp (EBTC)?

The current stock price of Enterprise Bancorp (EBTC) is $40.06 as of December 20, 2024.

What is the market cap of Enterprise Bancorp (EBTC)?

The market cap of Enterprise Bancorp (EBTC) is approximately 493.2M.

What services does Enterprise Bancorp Inc. offer?

Enterprise Bancorp Inc. offers commercial, residential, and consumer loan products, deposit products, cash management services, and wealth management and trust services.

Where is Enterprise Bancorp Inc. headquartered?

Enterprise Bancorp Inc. is headquartered in Lowell, Massachusetts.

When was Enterprise Bancorp Inc. founded?

Enterprise Bancorp Inc. was founded in 1988 by George L. Duncan.

How many full-service branches does Enterprise Bank have?

Enterprise Bank operates 27 full-service branches across Massachusetts and New Hampshire.

What was Enterprise Bancorp’s net income for the quarter ended June 30, 2023?

The net income for the quarter ended June 30, 2023, was $9.7 million.

What is the net interest margin reported by Enterprise Bancorp for Q2 2023?

The net interest margin for the quarter ended June 30, 2023, was 3.55%.

What strategic moves has Enterprise Bancorp made recently?

Enterprise Bancorp sold $84.8 million in investment securities and reinvested the proceeds into higher-yielding short-term investments to enhance annualized income by approximately $2.0 million.

How has Enterprise Bancorp performed in terms of asset growth?

As of June 30, 2023, Enterprise Bancorp's total assets amounted to $4.50 billion, showing a steady growth trajectory.

What are the key focus areas for Enterprise Bancorp's future growth?

Enterprise Bancorp focuses on continuous organic growth, investments in technology, and maintaining strong relationships with its customers and communities.

Enterprise Bancorp Inc.

Nasdaq:EBTC

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493.21M
9.78M
20.02%
33.5%
0.46%
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