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Sep 30, 2020
Enterprise Financial Q3 2020 Earnings Report
Reported solid third quarter earnings, driven by a reduction in provision for credit losses and an increase in noninterest income, partially offset by merger-related expenses.
Key Takeaways
Enterprise Financial Services Corp reported net income of $18.0 million for the third quarter 2020, an increase of $3.3 million compared to the linked second quarter and a decrease of $11.1 million from the prior year quarter. Earnings per diluted share was $0.68 for the third quarter 2020, compared to $0.56 and $1.08 for the linked and prior year quarters, respectively.
Net income of $18.0 million, $0.68 per diluted share, including the impact of provision for credit losses of $0.40 per share
Net interest margin (tax equivalent) of 3.29%
Return on average assets of 0.86%
Received Federal Reserve and FDIC approval for announced acquisition of Seacoast Commerce Banc Holdings
Enterprise Financial
Enterprise Financial
Forward Guidance
The Company expects to consummate the proposed transaction in the fourth quarter of 2020.