Enterprise Bancorp Reports Fourth-Quarter Earnings
Enterprise Bancorp Inc. (EBTC) reported net income of $10.7 million for the fourth quarter, a decline from the prior year. Earnings per share came in at 86 cents, meeting analyst estimates.
Revenue for the quarter reached $64.9 million, driven by a $44.1 million increase in non-interest income. This surpassed market expectations.
For the full year, the company recorded a profit of $38.7 million ($3.12 per share) on revenue of $170.7 million.
Additional Key Highlights:
* Non-interest revenue growth contributed to the robust financial performance.
* The bank's net interest margin remained stable.
* Enterprise Bancorp continues to maintain a strong balance sheet.