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Mar 31, 2024
Esquire Financial Q1 2024 Earnings Report
Esquire Financial's Q1 2024 performance was driven by growth in national platforms, resulting in industry-leading metrics.
Key Takeaways
Esquire Financial Holdings reported a net income of $10.1 million, or $1.20 per diluted share, for Q1 2024. The company saw consistent returns on average assets and equity, fueled by revenue expansion to $29.3 million, a strong net interest margin of 6.06%, and stable fee-based income.
Net income totaled $10.1 million, or $1.20 per diluted share, compared to $9.9 million, or $1.18 per diluted share in the linked quarter.
Returns on average assets and equity were 2.59% and 20.14% for the current quarter, respectively.
Loan growth was $20.8 million, totaling $1.23 billion, driven by higher yielding variable rate commercial loans.
Deposit growth totaled $26.8 million, reaching $1.43 billion, comprised of core low-cost commercial relationship deposits.
Esquire Financial
Esquire Financial
Esquire Financial Revenue by Segment
Revenue by Segment
Payment processing fees Revenue
CapyFin.comOther noninterest income Revenue
CapyFin.com Forward Guidance
In light of the current economic and interest rate environment surrounding multifamily and commercial real estate, the company has tempered its short-term growth targets in these asset classes for the foreseeable future, but this short-term decision does not impact the view on growth and earnings for 2024 but only impacts the composition of assets and earnings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income