Esquire Finl Hldgs Inc Stock Price, News & Analysis

Esquire Financial Holdings (NASDAQ: ESQ) has partnered with Assure Disability to enhance Social Security Disability (SSD) payment solutions through the Serve® prepaid card. This collaboration aims to streamline SSD payments for law firms and clients, leveraging Assure's advanced technology and extensive client base of over 100,000 SSD claimants annually. The Serve® reloadable prepaid card, distributed by InComm Payments, will provide more secure and flexible access to settlements while reducing administrative burdens for law firms and claimants.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) reported strong second quarter results for 2021, with net income rising to $4.5 million ($0.57 per diluted share), up from $2.5 million ($0.33) year-over-year. Total assets increased by 24% annualized to $1.1 billion, driven by a 26% growth in deposits. Payment processing income surged by 88% year-over-year. The efficiency ratio stood at 56.5% while maintaining robust asset quality with nonperforming loans at 0.32%.

Esquire Financial Holdings, Inc. reported strong first-quarter 2021 results, with net income rising to $4.2 million ($0.53 per diluted share), up from $2.6 million ($0.33) in Q1 2020. Total assets increased by $61.6 million to $998.3 million, and deposits grew by $55.6 million to $859.7 million. The company maintained impressive returns on average assets (1.81%) and common equity (13.30%). Payment processing income surged by 17.5% to $5.4 million. Nonperforming loans remained low at 0.43% of total loans. However, noninterest expenses rose 19.3%, indicating increased operational costs.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) has been recognized as the top-performing community bank in the U.S., achieving first place in the 2020 Raymond James Community Bankers Cup. This marks a repeat of their first-place ranking from 2019 and an improvement from third place in 2018. The evaluation considered 241 banks based on metrics such as profitability and efficiency. President Andrew C. Sagliocca attributed this success to the team's dedication and client-focused approach. Esquire Bank specializes in financial services for the legal industry and small businesses.

Esquire Financial Holdings (NASDAQ: ESQ) announced a partnership with InComm Payments to offer the Serve® prepaid card for Social Security Disability Insurance (SSDI) payments. This exclusive agreement enables law firms to provide SSDI payments via prepaid cards, enhancing efficiency in payment processing. The partnership combines Serve's advanced technology with Esquire's legal distribution network, aiming to improve payment options for clients. The Serve® card will be issued through American Express, potentially transforming the way SSDI payments are distributed.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) reported strong fourth-quarter results, with a net income of $3.9 million, or $0.51 per diluted share, marking a rise from $3.6 million in the prior quarter. Loans grew by 23% annualized, totaling $672.4 million, driven by robust commercial lending. The bank's net interest margin improved to 4.49%. Deposits surged 31% annualized to $804.1 million. However, the provision for loan losses increased by $950,000 year-over-year. Despite challenges arising from the pandemic, Esquire maintains solid asset quality with nonperforming loans at 0.34%.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) reported a third-quarter net income of $3.6 million, a 42% increase from the previous quarter. Despite this growth, net income decreased from $3.8 million year-over-year. Loans grew 28% annualized to $635.7 million, driven mainly by attorney commercial loans. However, the provision for loan losses rose by $475,000 due to pandemic-related risks. The net interest margin declined to 4.23%. Noninterest income increased 11.8% to $3.9 million, boosted by a 31% rise in merchant fee income, reflecting resilience amid economic challenges.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) announced the launch of its new digital technologies, featuring a redesigned website and a powerful customer service CRM platform, enhancing customer interactions. The website streamlines online account management and loan applications. CEO Andrew C. Sagliocca highlighted that the upgrades align with the company's top-performing status in 2019. The new branding aims to position Esquire as a leader in financial technology, emphasizing its commitment to exceptional customer service.

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) announced the hiring of David S. Bagatelle as Chief Banking and Revenue Officer on August 11, 2020. Bagatelle brings over 30 years of banking experience, previously serving at CIT Group and Sterling National Bank. He will lead the company's commercial banking activities, focusing primarily on Esquire's national litigation platform. President and CEO Andrew C. Sagliocca highlighted Bagatelle's proven track record and aims to enhance the sales platform and accelerate growth across various verticals.