Enterprise Bancorp Inc (EBTC) Financial Statements (2024 and earlier)

Company Profile

Business Address 222 MERRIMACK ST
LOWELL, MA 01852
State of Incorp. MA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments271,858438,361254,52864,26164,52054,806
Cash and cash equivalents267,589436,576253,78263,79463,12054,806
Short-term investments4,2691,7857464671,400 
Prepaid expense6832792,4495727321,301
Financing receivable, accrued interest, after allowance for credit loss13,100  
Total current assets:285,641438,640256,97764,83365,25256,107
Noncurrent Assets
Operating lease, right-of-use asset24,92324,29518,43919,048
Property, plant and equipment44,22844,68946,70845,41937,58837,022
Intangible assets, net (including goodwill)5,6565,6565,6565,6565,6565,656
Goodwill5,6565,6565,6565,6565,6565,656
Deferred income tax assets51,98119,64411,290 
Total noncurrent assets:126,78894,28482,09370,12343,24442,678
Other undisclosed assets4,025,9043,914,8953,675,2543,100,0932,855,8622,718,779
TOTAL ASSETS:4,438,3334,447,8194,014,3243,235,0492,964,3582,817,564
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      50,000
Total current liabilities:      50,000
Noncurrent Liabilities
Other undisclosed liabilities4,156,0664,100,9243,679,8982,938,4082,709,0612,535,754
Total liabilities:4,156,0664,100,9243,679,8982,938,4082,709,0612,585,754
Equity
Equity, attributable to parent282,267346,895334,426296,641255,297231,810
Common stock121120119118117116
Additional paid in capital103,793100,35297,13794,17091,28188,205
Accumulated other comprehensive income (loss)(96,207)4,66222,19310,510(1,284)416
Retained earnings274,560241,761214,977191,843165,183143,073
Total equity:282,267346,895334,426296,641255,297231,810
TOTAL LIABILITIES AND EQUITY:4,438,3334,447,8194,014,3243,235,0492,964,3582,817,564

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues139,988134,723132,902124,442112,43597,447
Net investment income141,948133,890131,493123,973112,17596,987
Cost of revenue (1,770)(12,499)(1,180)(2,250)(1,430)
Provision for loan, lease, and other losses (1,770)(12,499)(1,180)(2,250)
Financial services costs(1,430)
Other undisclosed gross profit      
Gross profit:139,988132,953120,403123,262110,18596,017
Operating expenses(26,653)(25,763)(23,065)(21,979)(14,607)(61,758)
Other operating income, net
(Noninterest Income, Other Operating Income)
2,9543,2882,7832,7022,1502,637
Operating income:116,289110,478100,121103,98597,72836,896
Nonoperating income3,2361,9475876386721,417
Investment income, nonoperating2,034    716
Gains on sales of other real estate  1,126    
Bank owned life insurance income1,202821587638672701
Interest and debt expense(9,115)(8,190)(14,706)(21,251)(14,068)(7,510)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (44,374)(38,791)(46,635)4,818
Income from continuing operations before equity method investments, income taxes:110,410104,23541,62844,58137,69735,621
Other undisclosed loss from continuing operations before income taxes(54,264)(48,477)    
Income from continuing operations before income taxes:56,14655,75841,62844,58137,69735,621
Income tax expense(13,430)(13,587)(10,172)(10,381)(8,816)(16,228)
Income from continuing operations:42,71642,17131,45634,20028,88119,393
Income before gain (loss) on sale of properties:42,17131,45634,20028,88119,393
Net income available to common stockholders, diluted:42,71642,17131,45634,20028,88119,393

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:42,71642,17131,45634,20028,88119,393
Other comprehensive income (loss)(100,869)(17,531)11,68311,794(1,700)1,100
Comprehensive income (loss), net of tax, attributable to parent:(58,153)24,64043,13945,99427,18120,493

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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