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Last $21.52 USD
Change Today -0.70 / -3.15%
Volume 2.3K
EBTC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

enterprise bancorp inc (EBTC) Key Developments

Enterprise Bancorp Inc. Announces Unaudited Consolidated Earnings Results for First Quarter and Ended March 31, 2015

Enterprise Bancorp Inc. announced unaudited consolidated earnings results for first quarter and ended March 31, 2015. For the quarter, the company reported net interest income of $18,446,000, income before income taxes of $5,644,000, net income of $3,620,000 or $0.35 per basic and diluted share, compared to the net interest income of $16,914,000, income before income taxes of $5,368,000, net income of $3,506,000 or $0.35 per basic and diluted share for the same quarter a year ago. Book value per share was $16.61 compared to $15.39 a year ago. Return on average total assets was 0.72% compared to 0.77% a year ago. Return on average stockholders' equity was 8.67% compared to 9.28% a year ago. The increase in 2015 first quarter earnings compared to 2014 is largely driven by growth over the last twelve months. This growth continues to be driven by the collective efforts and contributions of dedicated Enterprise team, active community involvement, relationship building and a customer-focused mindset, market expansion, and ongoing enhancement of product and service offerings. This increase in net interest income was due primarily to loan growth, partially offset by a decrease in tax equivalent net interest margin.

Enterprise Bancorp, Inc. Declares Quarterly Dividend, Payable on June 1, 2015

Enterprise Bancorp Inc. announced that on April 21, 2015, the Board of Directors of the company declared a quarterly dividend of $0.125 per share to be paid on June 1, 2015 to shareholders of record as of May 11, 2015.

Enterprise Bancorp Inc. and Enterprise Bank and Trust Company, Inc. Announce Retirement of Directors

On March 17, 2015, John P. Harrington, a director of Enterprise Bancorp, Inc. and Enterprise Bank & Trust Company since 1989, and Lucy A. Flynn, a director of the company and the Bank since 1997, notified the company of their respective decision to retire from the Board of Directors of each of the company and the Bank effective following the completion of the company's 2015 Annual Meeting of Stockholders.

Enterprise Bancorp Inc. Announces Private Placement of Subordinated Notes

Enterprise Bancorp Inc. announced that it has issued $15.0 million in aggregate principal amount of Fixed-to-Floating Rate Subordinated Notes Due 2030 through a private placement to an accredited investor. The Notes, which are intended to qualify as Tier 2 capital for regulatory purposes, are due on January 30, 2030 and are callable by the Company, subject to regulatory approval, at a premium beginning January 30, 2020 and at par beginning January 30, 2025. The Notes pay interest at a fixed rate of 6.00% per annum through January 30, 2025 and beginning on January 31, 2025 through the Maturity Date or any early redemption date, the interest rate on the Notes will adjust monthly at an interest rate of 3.90% plus 30-day LIBOR.

Enterprise Bancorp Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2014

Enterprise Bancorp Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended Dec. 31, 2014. For the quarter, the company reported total interest and dividend income of $20,068,000, net interest income of $18,772,000, income before income taxes of $6,045,000, net income of $4,000,000 or $0.39 per diluted share, compared to the total interest and dividend income of $18,525,000, net interest income of $17,212,000, income before income taxes of $5,137,000, net income of $3,484,000 or $0.35 per diluted share for the same quarter a year ago. For the year, the company reported total interest and dividend income of $76,473,000, net interest income of $71,230,000, income before income taxes of $22,236,000, net income of $14,651,000 or $1.44 per diluted share, compared to the total interest and dividend income of $71,122,000, net interest income of $65,791,000, income before income taxes of $20,480,000, net income of $13,529,000 or $1.36 per diluted share for the previous year. Book value per share was $16.35 compared to $15.14 a year ago. Return on average total assets was 0.76% compared to 0.78% a year ago. Return on average stockholders' equity was 9.20% compared to 9.32% a year ago.

 

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