ENTERPRISE BANCORP INC /MA/ EBTC Income Statement

Enterprise bancorp inc /ma/ (EBTC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income:
Loans and loans held for sale
31,298	31,109	30,938	30,419	29,616	29,304	28,109	27,527	26,150	26,015	24,892	23,281	22,371	22,011	21,466	21,032	20,881	20,408	19,785	19,171	18,582	18,737	18,234	17,707	17,176	17,543	17,104	16,653	16,373	16,435	16,324	16,228	15,958	16,448	16,078	15,567	15,270	15,334	15,354
Investment securities
3,484	3,350	3,278	3,285	3,222	2,893	2,742	2,606	2,487	2,144	2,017	1,964	1,920	1,920	1,629	1,551	1,540	1,521	1,377	1,223	1,225	1,300	1,131	1,051	1,022	954	823	794	810	911	833	835	799	860	824	901	954	996	1,057
Other interest-earning assets
165	203	632	597	459	267	497	187	134	126	136	93	73	96	96	49	44	42	62	43	32	31	29	22	33	28	19	11	10	14	25	24	19	18	11	22	16	-	-
Short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23	14
Total interest and dividend income
34,947	34,662	34,848	34,301	33,297	32,464	31,348	30,320	28,771	28,285	27,045	25,338	24,364	24,027	23,191	22,632	22,465	21,971	21,224	20,437	19,839	20,068	19,394	18,780	18,231	18,525	17,946	17,458	17,193	17,360	17,182	17,087	16,776	17,326	16,913	16,490	16,240	16,353	16,425
Interest expense:
Deposits
4,405	4,785	5,158	5,292	4,706	3,990	3,697	2,837	2,236	1,878	1,509	1,380	1,228	1,189	1,138	1,099	1,088	1,035	1,022	1,019	992	997	1,005	1,025	1,001	1,015	1,013	996	1,034	1,131	1,228	1,368	1,537	1,703	1,858	1,903	1,915	2,125	2,224
Borrowed funds
415	-	-	-	279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowed funds
-	-	36	0	-	51	6	34	292	168	169	192	61	2	2	14	63	6	10	1	21	5	3	8	22	4	6	40	46	13	12	13	16	21	22	22	22	37	50
Subordinated debt
231	233	233	231	228	233	233	231	228	233	233	231	228	233	234	230	231	234	232	233	372	294	294	295	294	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Junior subordinated debentures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	294	295	294	294	294	295	294	294	294	295	294	294	295
Total interest expense
5,051	5,088	5,427	5,523	5,213	4,274	3,936	3,102	2,756	2,279	1,911	1,803	1,517	1,424	1,374	1,343	1,382	1,275	1,264	1,253	1,385	1,296	1,302	1,328	1,317	1,313	1,313	1,331	1,374	1,438	1,534	1,676	1,847	2,018	2,174	2,220	2,231	2,456	2,569
Net interest income
29,896	29,574	29,421	28,778	28,084	28,190	27,412	27,218	26,015	26,006	25,134	23,535	22,847	22,603	21,817	21,289	21,083	20,696	19,960	19,184	18,454	18,772	18,092	17,452	16,914	17,212	16,633	16,127	15,819	15,922	15,648	15,411	14,929	15,308	14,739	14,270	14,009	13,897	13,856
Provision for loan losses
6,147	-400	1,025	955	-400	-400	750	300	1,600	-200	1,225	280	125	490	1,386	267	850	1,167	250	1,225	625	230	765	200	200	1,379	583	534	783	600	800	1,050	300	1,243	1,840	1,192	922	1,275	1,033
Net interest income after provision for loan losses
23,749	29,974	28,396	27,823	28,484	28,590	26,662	26,918	24,415	26,206	23,909	23,255	22,722	22,113	20,431	21,022	20,233	19,529	19,710	17,959	17,829	18,542	17,327	17,252	16,714	15,833	16,050	15,593	15,036	15,322	14,848	14,361	14,629	14,065	12,899	13,078	13,087	12,622	12,823
Non-interest income:
Wealth management fees
1,440	1,417	1,407	1,371	1,299	1,410	1,388	1,418	1,408	1,346	1,311	1,267	1,225	1,181	1,162	1,327	1,104	1,182	1,182	1,209	1,177	1,167	1,202	1,145	1,104	1,122	1,102	1,045	1,016	958	925	934	1,021	884	919	969	956	880	879
Deposit and interchange fees
1,691	1,829	1,790	1,687	1,564	1,626	1,552	1,567	1,489	1,622	1,527	1,522	1,340	1,334	1,272	1,276	1,242	1,304	1,207	1,214	1,154	1,309	1,268	1,261	1,198	1,270	1,229	1,181	1,108	1,219	1,153	1,107	1,021	-	1,157	1,133	-	-	-
Deposit service fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,023	1,040	1,034
Income on bank-owned life insurance, net
153	156	158	162	162	167	167	170	168	174	174	177	176	183	182	191	191	195	157	101	100	100	99	106	108	113	111	119	116	122	122	128	134	139	132	137	140	170	166
Net gains (losses) on sales of debt securities
100	-	0	-	-1	-	-34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7
Net gains on sales of investment securities
-	-	-	147	-	-	-	0	1	-	-284	229	540	191	546	63	2	465	7	456	900	789	215	127	488	208	83	468	480	39	38	112	47	44	486	261	0	-	276
Net gains on sales of loans
147	225	139	69	36	81	47	48	84	101	88	138	133	209	198	105	89	119	89	128	156	123	135	75	73	64	171	222	335	320	211	218	240	284	119	64	220	208	103
Other income
667	667	655	604	776	375	604	530	641	683	628	606	720	607	588	620	578	815	542	570	538	661	621	550	508	655	472	518	584	606	536	453	511	475	397	459	419	362	406
Total non-interest income
4,198	4,294	4,149	4,040	3,836	742	3,724	3,733	3,791	4,157	3,444	3,939	4,134	3,705	3,948	3,582	3,206	4,080	3,184	3,678	4,025	4,149	3,540	3,264	3,479	3,432	3,168	3,553	3,639	3,264	2,985	2,952	2,974	2,951	3,210	3,023	2,758	2,660	2,857
Non-interest expense:
Salaries and employee benefits
14,819	14,155	14,382	14,041	13,481	13,041	13,026	13,267	12,108	11,952	12,177	11,792	12,692	11,428	10,948	11,025	10,485	10,351	10,255	10,098	9,581	10,177	9,454	9,324	9,074	8,304	8,548	8,651	8,048	8,500	8,190	7,841	7,503	7,396	7,177	7,122	6,976	6,703	6,676
Occupancy and equipment expenses
2,176	2,075	2,034	2,096	2,212	2,222	2,110	2,037	2,157	2,083	1,993	1,945	1,939	1,909	1,859	1,781	1,813	1,824	1,775	1,749	1,960	1,634	1,588	1,597	1,696	1,527	1,449	1,488	1,571	1,434	1,400	1,430	1,414	1,338	1,346	1,352	1,449	1,302	1,332
Technology and telecommunications expenses
2,188	-	-	-	1,726	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Technology and telecommunications expenses
-	-	1,863	1,701	-	-	1,568	1,639	1,553	-	1,601	1,606	1,582	1,532	1,577	1,548	1,423	1,487	1,428	1,378	1,417	1,323	1,248	1,334	1,262	1,206	1,085	1,203	1,153	1,118	1,122	1,077	999	993	959	961	973	839	1,010
Advertising and public relations expenses
645	957	430	870	705	820	530	1,112	720	608	597	797	619	746	591	817	679	539	641	809	730	996	575	771	586	661	481	946	620	573	408	497	789	944	471	581	665	477	755
Audit, legal and other professional fees
605	650	528	438	423	364	435	419	507	507	381	314	363	480	409	375	457	352	564	382	359	221	453	492	349	478	439	411	414	369	336	487	483	390	331	362	310	280	328
Deposit insurance premiums
404	143	16	366	351	433	418	346	500	405	371	376	383	390	347	324	326	325	299	297	293	318	297	289	265	298	287	284	249	221	283	283	277	270	276	284	489	469	449
Supplies and postage expenses
247	253	232	262	224	255	236	266	232	273	248	245	233	237	241	258	229	252	226	252	258	277	257	255	264	248	232	250	237	266	232	196	231	246	212	206	218	194	201
Investment advisory and custodial expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102	89	46	-	143	128	138	146	134	134	126	119	110	112	97	85	97	126	104	107	110
Other operating expenses
1,595	2,181	1,613	1,979	1,728	1,891	1,652	1,722	1,670	1,727	1,465	1,679	1,609	1,781	1,442	1,414	1,457	1,814	1,258	1,213	1,566	2,109	1,100	1,255	1,191	1,260	1,126	1,094	1,036	1,212	929	1,049	1,025	1,207	979	1,077	994	837	911
Total non-interest expense
22,679	22,714	21,098	21,753	20,850	20,648	19,975	20,808	19,447	19,138	18,833	18,754	19,420	18,503	17,414	17,542	16,869	16,707	16,548	16,267	16,210	16,646	15,115	15,445	14,825	14,128	13,781	14,461	13,454	13,812	13,010	12,972	12,818	12,869	11,848	12,071	12,178	11,208	11,772
Income before income taxes
5,268	11,554	11,447	10,110	11,470	8,684	10,411	9,843	8,759	11,225	8,520	8,440	7,436	7,315	6,965	7,062	6,570	6,902	6,346	5,370	5,644	6,045	5,752	5,071	5,368	5,137	5,437	4,685	5,221	4,774	4,823	4,341	4,785	4,147	4,261	4,030	3,667	4,074	3,908
Provision for income taxes
1,251	2,815	2,445	2,347	2,774	2,184	2,429	2,269	1,934	8,505	3,014	2,845	1,864	2,362	2,251	2,291	2,257	2,181	2,054	1,855	2,024	2,045	1,921	1,757	1,862	1,653	1,904	1,606	1,788	1,540	1,760	1,436	1,612	1,289	1,324	1,345	1,203	1,345	1,305
Net income
4,017	8,739	9,002	7,763	8,696	6,500	7,982	7,574	6,825	2,720	5,506	5,595	5,572	4,953	4,714	4,771	4,313	4,721	4,292	3,515	3,620	4,000	3,831	3,314	3,506	3,484	3,533	3,079	3,433	3,234	3,063	2,905	3,173	-	-	-	2,464	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,937	2,685	-	2,729	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,603
Basic earnings per share
0.34	0.74	0.76	0.66	0.74	0.55	0.68	0.65	0.59	0.24	0.48	0.48	0.48	0.44	0.41	0.45	0.41	0.46	0.41	0.34	0.35	0.39	0.38	0.33	0.35	0.35	0.36	0.31	0.35	0.34	0.32	0.30	0.33	0.30	0.31	0.29	0.26	0.30	0.28
Diluted earnings per share
0.34	0.73	0.76	0.66	0.74	0.56	0.68	0.64	0.58	0.23	0.47	0.48	0.48	0.43	0.41	0.45	0.41	0.45	0.41	0.34	0.35	0.40	0.37	0.32	0.35	0.35	0.35	0.31	0.35	0.33	0.32	0.30	0.33	0.31	0.31	0.28	0.26	0.30	0.28
Basic weighted average common shares outstanding
11,841	11,820	11,808	11,798	11,730	11,704	11,697	11,687	11,628	11,603	11,589	11,572	11,508	11,468	11,430	10,561	10,405	10,368	10,349	10,331	10,243	10,177	10,143	10,124	10,030	9,978	9,932	9,825	9,715	9,645	9,613	9,588	9,499	9,457	9,429	9,401	9,318	9,246	9,219
Diluted weighted average common shares outstanding
11,877	11,857	11,843	11,834	11,783	11,765	11,770	11,764	11,700	11,686	11,669	11,652	11,598	11,557	11,498	10,629	10,471	10,440	10,414	10,394	10,310	10,284	10,228	10,204	10,119	10,095	10,026	9,889	9,790	9,726	9,692	9,655	9,568	9,465	9,463	9,497	9,356	9,250	9,223