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Sep 30, 2024
Esquire Financial Q3 2024 Earnings Report
Esquire Financial reported strong Q3 2024 results driven by balance sheet management and growth.
Key Takeaways
Esquire Financial Holdings, Inc. announced strong third quarter results with net income of $11.4 million, or $1.34 per diluted share. The company's performance was driven by growth in low-cost core deposits and strategic deployment of funds into higher yielding commercial law firm loans and short duration agency mortgage-backed securities.
Net income increased to $11.4 million, or $1.34 per diluted share.
Returns on average assets and equity were 2.62% and 20.29%, respectively.
Total loan growth reached $1.30 billion, driven by commercial loans.
Deposit growth totaled $1.54 billion, comprising core low-cost commercial relationship deposits.