Enterprise Bancorp Inc Mass - EBTC STOCK NEWS

Enterprise Bancorp (NASDAQ:EBTC) has announced its quarterly dividend payment of $0.25 per share, as declared by the Board of Directors on April 15, 2025. The dividend will be paid on June 2, 2025, to shareholders of record as of May 12, 2025.

The company operates primarily through Enterprise Bank and Trust Company, offering commercial, residential, and consumer loan products, deposit services, and wealth management solutions. With its headquarters in Lowell, Massachusetts, Enterprise Bank maintains 27 full-service branches across Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, and Southern Hillsborough and Southern Rockingham counties in New Hampshire.

Enterprise Bancorp (NASDAQ: EBTC) reported strong Q4 2024 financial results, with net income reaching $10.7 million ($0.86 per diluted share), up from $7.9 million in Q4 2023. The company announced a definitive merger agreement with Independent Bank Corp., expected to close in H2 2025.

Key Q4 2024 metrics include a 3.29% tax-equivalent net interest margin, total loans of $3.98 billion (up 3.2% QoQ), and total deposits of $4.19 billion. Net interest income increased by 5% YoY to $38.5 million, driven by loan growth and higher yields. The company maintained strong credit quality with net charge-offs at just 0.01% of average total loans.

Wealth assets under management reached $1.54 billion, showing a 16% increase YoY. The company's total assets grew 8% YoY to $4.83 billion, while shareholders' equity increased 10% to $360.7 million.

Enterprise Bancorp (NASDAQ:EBTC) has announced its quarterly dividend of $0.25 per share, to be paid on March 3, 2025, to shareholders of record as of February 10, 2025. The company operates primarily through Enterprise Bank and Trust Company, offering commercial, residential, and consumer loan products, deposit products, cash management services, and wealth management solutions.

Enterprise Bank maintains 27 full-service branches across Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, and Southern Hillsborough and Southern Rockingham counties in New Hampshire. The bank's headquarters and main office are located in Lowell, Massachusetts.

Independent Bank Corp. (NASDAQ: INDB) and Enterprise Bancorp (NASDAQ: EBTC) have announced a merger agreement valued at approximately $562 million. Enterprise shareholders will receive 0.60 INDB shares and $2.00 in cash per Enterprise share, totaling about 7.5 million INDB shares and $27.1 million in cash. Independent plans to raise $250 million in subordinate debt before closing.

The merger combines Independent's 124 branches with Enterprise's 27 branches in complementary markets across Massachusetts and New Hampshire. No branch closures are planned. The combined entity will manage approximately $20 billion in deposits, with 25-30% being noninterest-bearing. The merger will create an $8.7 billion wealth management platform and is expected to achieve cost savings of 30% of Enterprise's annual operating expenses.

Independent Bank Corp. (INDB) and Enterprise Bancorp have signed a merger agreement where Rockland Trust will acquire Enterprise Bank in a cash and stock transaction valued at approximately $562 million. Enterprise shareholders will receive 0.60 shares of Independent common stock and $2.00 in cash per share.

The merger, expected to close in the second half of 2025, will expand Rockland Trust's footprint into northern Massachusetts and southern New Hampshire. Enterprise Bank operates 27 full-service branches with $4.7 billion in total assets, $3.8 billion in net loans, and $4.2 billion in deposits. Post-merger, Rockland Trust will have approximately $25 billion in assets and $8.7 billion in wealth assets under administration.

Enterprise Bancorp (NASDAQ: EBTC) reported its Q3 2024 financial results, highlighting a net income of $10.0 million, or $0.80 per diluted share, up from $9.5 million, or $0.77 per share in Q2 2024. The net interest margin increased to 3.22% from 3.19%. Total loans rose by 2.4% to $3.86 billion, while total deposits decreased by 1.4% to $4.19 billion. Wealth assets under management increased by 8.5% to $1.51 billion. Non-interest income rose to $6.1 million, driven by gains on equity securities and fees. However, net interest income decreased by $482 thousand due to higher deposit and borrowing costs. The provision for credit losses increased by $654 thousand, primarily due to a downgraded commercial loan. Non-performing loans rose to $25.9 million. Despite these challenges, the company maintained a strong balance sheet with total assets of $4.74 billion and shareholders' equity of $368.1 million.

Enterprise Bancorp, Inc. (NASDAQ:EBTC) has announced a quarterly dividend of $0.24 per share, to be paid on December 2, 2024, to shareholders of record as of November 11, 2024. The dividend was declared by the Board of Directors on October 15, 2024.

Enterprise Bancorp operates primarily through Enterprise Bank and Trust Company, offering a range of banking services including commercial loans, deposit products, cash management, electronic banking, and wealth management. The company's main office is located in Lowell, Massachusetts, and it serves Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, as well as Southern Hillsborough and Southern Rockingham counties in New Hampshire. Enterprise Bank currently has 27 full-service branches across various communities in Massachusetts and New Hampshire.

Enterprise Bancorp, Inc. (NASDAQ: EBTC) reported its Q2 2024 financial results, with net income of $9.5 million, or $0.77 per diluted share. This represents an increase from Q1 2024 but a slight decrease from Q2 2023. Key highlights include:

- Net interest margin of 3.19%, down 1 basis point from Q1 2024
- Net interest income increased 2.8% quarter-over-quarter
- Total loans grew 3.1% and total deposits increased 3.5%
- Wealth assets under management reached $1.40 billion, up 1.7%

The bank maintained strong credit quality with nominal charge-offs year-to-date. CEO Steven Larochelle emphasized the bank's solid performance despite challenges from higher deposit costs and an inverted yield curve.

Enterprise Bank has appointed David Lynch as Managing Director and Chief Investment Officer of Enterprise Wealth Management. Lynch, an industry veteran with over 25 years of experience, will oversee the entire wealth management division and help set the team's strategic direction. He joins from Cambridge Trust Company, where he managed $4.5 billion in investment portfolios. Lynch's extensive background includes roles at Athena Capital Advisors, Colorado state pension fund (PERA), Eaton Vance Management, and Cahners Economics.

Lynch holds a BA in Economics from Dartmouth College and an MBA from Babson College. He is a CFA charterholder and a member of the Boston Economic Club. Enterprise Wealth Management currently manages over $1.3 billion in assets and is poised for continued growth under Lynch's leadership.