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Jun 30, 2021
Esquire Financial Q2 2021 Earnings Report
Esquire Financial reached billion dollar asset milestone with record revenues and earnings.
Key Takeaways
Esquire Financial Holdings, Inc. reported a net income of $4.5 million, or $0.57 per diluted share, for the second quarter of 2021, compared to $2.5 million, or $0.33 per diluted share for the same period in 2020. Total revenue increased by 30% year over year, demonstrating strong growth in core commercial lending and payment processing verticals.
Net income increased to $4.5 million, or $0.57 per diluted share.
Industry leading returns on average assets and common equity of 1.84% and 13.76%, respectively.
Total assets increased to $1.1 billion.
Payment processing fee income totaled $5.4 million, an increase of 88% compared to 2020.
Forward Guidance
The company's investments in technology, digital marketing, and employees are expected to continue fueling growth in the future.
Positive Outlook
- Investments in technology
- Investments in digital marketing
- Investments in employees
- Heightened brand recognition
- Strong financial performance
Challenges Ahead
- Changes in business plans as circumstances warrant
- Changes in general economic, business and political conditions
- Changes in the financial markets
- The demand for our products and services may decline
- Cyber security risks are increased as the result of an increase in the number of employees working remotely.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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