Enterprise Bancorp, Inc. operates as the bank holding company for Enterprise Bank and Trust Company that provides various banking products and services. The company’s primary market area is the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company has 22 full-service branch banking offices located in the Massachusetts cities and towns of Acton, Andover, Billerica, Chelmsford, Dracut, Fitchburg, Lawrence, Leominster, Lowell, Methuen, Tewksbury, Tyngsboro and Westford; and in the New Hampshire towns of Derry, Hudson, Nashua, Pelham and Salem, which serve those cities and towns, as well as the surrounding communities. Products and Services The company offers a range of commercial and consumer loan products, deposit products and cash management services. The company also offers investment advisory and wealth management, trust and insurance services. Lending Products The company engages in lending to business entities, non-profit organizations, professionals and individuals. Loans made to businesses include commercial mortgage loans, construction and land development loans, secured and unsecured commercial loans and lines of credit, and standby letters of credit. The company also originates equipment lease financing for businesses. Loans made to individuals include conventional residential mortgage loans, home equity loans and lines, residential construction loans on primary and secondary residences, and secured and unsecured personal loans and lines of credit. Commercial Real Estate, Commercial and Industrial, and Commercial Construction Loans: Commercial real estate loans include loans secured by both owner-use and non-owner use real estate. These loans are typically secured by various commercial and industrial property types, including one-to-four family and multi-family apartment buildings, office, industrial, or mixed-use facilities, strip shopping centers, or other commercial properties; and are generally guaranteed by the principals of the borrower. Commercial real estate loans generally have repayment periods of approximately 15 to 25 years. Commercial and industrial loans include seasonal revolving lines of credit, working capital loans, equipment financing (including equipment leases), and term loans. Also included in commercial and industrial loans are loans partially guaranteed by the U.S. Small Business Administration, and loans under various programs and agencies. Commercial construction loans include the development of residential housing and condominium projects, the development of commercial and industrial use property, and loans for the purchase and improvement of raw land. Residential Loans: The company originates conventional mortgage loans on one-to-four family residential properties. These properties might serve as the borrower’s primary residence, or be vacation homes or investment properties. Home Equity Loans and Lines of Credit: Home equity term loans are originated for one-to-four family residential properties. Home equity loan payments consist of monthly principal and interest based on amortization ranging from 3 to 15 years. The rates might also be fixed for 3 to 15 years. The company originates home equity revolving lines of credit for one-to-four family residential properties. Consumer Loans: Consumer loans primarily consist of secured or unsecured personal loans, energy efficiency financing programs in conjunction with Massachusetts public utilities, and overdraft protection lines on checking accounts extended to individual customers. Deposit Products The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, Interest on Lawyers Trust Accounts, and escrow management accounts, as well as checking and Simplified Employee Pension accounts to employees of the company’s business customers. A selection of competitive retail deposit products are also offered, including personal checking accounts earning interest and/or reward points, savings accounts, money market accounts, individual retirement accounts, and certif
enterprise bancorp inc (EBTC:NASDAQ GS)
222 Merrimack Street
Lowell, MA 01852
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