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Mar 31, 2020
Enterprise Financial Q1 2020 Earnings Report
Enterprise Financial Services Corp reported a decrease in net income compared to the previous quarter and prior year, primarily due to an increase in provision for credit losses.
Key Takeaways
Enterprise Financial Services Corp reported a net income of $12.9 million for Q1 2020, a decrease of $16.2 million compared to the previous quarter and a decrease of $3.3 million from the prior year quarter. EPS was $0.48 for Q1 2020, compared to $1.09 and $0.67 for the linked and prior year quarters, respectively. The decrease in net income and EPS was primarily due to an increase in provision for credit losses.
Net income was $12.9 million, or $0.48 per diluted share, which included a $0.63 per share impact from the provision for credit losses.
Net interest margin (tax equivalent) was 3.79%.
Return on average assets was 0.70%.
Loans increased by $143.2 million, or 11% annualized.
Forward Guidance
The Company did not include forward guidance in its first quarter report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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