Enterprise Bancorp Inc (EBTC) Financial Statements (2023 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)
| 6/30/2023 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 investments | 271,858 | 438,361 | 254,528 | 64,261 | 64,520 | 54,806 | |||
| Cash and cash equivalents | 267,589 | 436,576 | 253,782 | 63,794 | 63,120 | 54,806 | |||
| Short-term investments | 4,269 | 1,785 | 746 | 467 | 1,400 | ||||
| Prepaid expense | 683 | 279 | 2,449 | 572 | 732 | 1,301 | |||
| Financing receivable, accrued interest, after allowance for credit loss | 13,100 | ✕ | ✕ | ✕ | |||||
| Total current assets: | 285,641 | 438,640 | 256,977 | 64,833 | 65,252 | 56,107 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 24,923 | 24,295 | 18,439 | 19,048 | ✕ | ✕ | |||
| Property, plant and equipment | 44,228 | 44,689 | 46,708 | 45,419 | 37,588 | 37,022 | |||
| Intangible assets, net (including goodwill) | 5,656 | 5,656 | 5,656 | 5,656 | 5,656 | 5,656 | |||
| Goodwill | 5,656 | 5,656 | 5,656 | 5,656 | 5,656 | 5,656 | |||
| Deferred income tax assets | 51,981 | 19,644 | 11,290 | ✕ | ✕ | ||||
| Total noncurrent assets: | 126,788 | 94,284 | 82,093 | 70,123 | 43,244 | 42,678 | |||
| Other undisclosed assets | 4,025,904 | 3,914,895 | 3,675,254 | 3,100,093 | 2,855,862 | 2,718,779 | |||
| TOTAL ASSETS: | 4,438,333 | 4,447,819 | 4,014,324 | 3,235,049 | 2,964,358 | 2,817,564 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 50,000 | ||||||||
| Total current liabilities: | 50,000 | ||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 4,156,066 | 4,100,924 | 3,679,898 | 2,938,408 | 2,709,061 | 2,535,754 | |||
| Total liabilities: | 4,156,066 | 4,100,924 | 3,679,898 | 2,938,408 | 2,709,061 | 2,585,754 | |||
| Equity | |||||||||
| Equity, attributable to parent | 282,267 | 346,895 | 334,426 | 296,641 | 255,297 | 231,810 | |||
| Common stock | 121 | 120 | 119 | 118 | 117 | 116 | |||
| Additional paid in capital | 103,793 | 100,352 | 97,137 | 94,170 | 91,281 | 88,205 | |||
| Accumulated other comprehensive income (loss) | (96,207) | 4,662 | 22,193 | 10,510 | (1,284) | 416 | |||
| Retained earnings | 274,560 | 241,761 | 214,977 | 191,843 | 165,183 | 143,073 | |||
| Total equity: | 282,267 | 346,895 | 334,426 | 296,641 | 255,297 | 231,810 | |||
| TOTAL LIABILITIES AND EQUITY: | 4,438,333 | 4,447,819 | 4,014,324 | 3,235,049 | 2,964,358 | 2,817,564 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 139,988 | 134,723 | 132,902 | 124,442 | 112,435 | 97,447 | ||
| Net investment income | 141,948 | 133,890 | 131,493 | 123,973 | 112,175 | 96,987 | ||
| 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: | 139,988 | 132,953 | 120,403 | 123,262 | 110,185 | 96,017 | ||
| Operating expenses | (26,653) | (25,763) | (23,065) | (21,979) | (14,607) | (61,758) | ||
| Other operating income, net (Noninterest Income, Other Operating Income) | 2,954 | 3,288 | 2,783 | 2,702 | 2,150 | 2,637 | ||
| Operating income: | 116,289 | 110,478 | 100,121 | 103,985 | 97,728 | 36,896 | ||
| Nonoperating income | 3,236 | 1,947 | 587 | 638 | 672 | 1,417 | ||
| Investment income, nonoperating | 2,034 | 716 | ||||||
| Gains on sales of other real estate | 1,126 | |||||||
| Bank owned life insurance income | 1,202 | 821 | 587 | 638 | 672 | 701 | ||
| 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: | 110,410 | 104,235 | 41,628 | 44,581 | 37,697 | 35,621 | ||
| Other undisclosed loss from continuing operations before income taxes | (54,264) | (48,477) | ||||||
| Income from continuing operations before income taxes: | 56,146 | 55,758 | 41,628 | 44,581 | 37,697 | 35,621 | ||
| Income tax expense | (13,430) | (13,587) | (10,172) | (10,381) | (8,816) | (16,228) | ||
| Income from continuing operations: | 42,716 | 42,171 | 31,456 | 34,200 | 28,881 | 19,393 | ||
| Income before gain (loss) on sale of properties: | ✕ | 42,171 | 31,456 | 34,200 | 28,881 | 19,393 | ||
| Net income available to common stockholders, diluted: | 42,716 | 42,171 | 31,456 | 34,200 | 28,881 | 19,393 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 42,716 | 42,171 | 31,456 | 34,200 | 28,881 | 19,393 | ||
| Other comprehensive income (loss) | (100,869) | (17,531) | 11,683 | 11,794 | (1,700) | 1,100 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (58,153) | 24,640 | 43,139 | 45,994 | 27,181 | 20,493 | ||
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.