Business
Enterprise Financial Reports Fourth Quarter and Full Year 2024 Results
Fourth Quarter Results Net income of $48.8 million, or $1.28 per diluted common share, compared to $1.32 in the linked quarter and $1.16 in the prior year
About this update from Enterprise Financial Services Corporation
[{"type":"text","content":"\nFourth Quarter Results\n\n\n\nNet income of $48.8 million, or $1.28 per diluted common share, compared to $1.32 in the linked quarter and $1.16 in the prior year quarter\n\n\n\nNet interest income of $146.4 million, quarterly increase of $2.9 million\n\n\n\nNet interest margin (“NIM”) of 4.13%, quarterly decrease of 4 basis points\n\n\n\nTotal loans of $11.2 billion, quarterly increase of $140.5 million, or 5% annualized\n\n\n\nTotal deposits of $13.1 billion, quarterly increase of $681.2 million\n\n\n\nReturn on Average Assets (“ROAA”) of 1.27%, compared to 1.36% in the linked quarter and 1.23% in the prior year quarter\n\n\n\nReturn on Average Tangible Common Equity (“ROATCE”)1 of 13.63%, compared to 14.55% in the linked quarter and 14.38% in the prior year quarter\n\n\n\nRepurchased 206,529 shares and increased quarterly dividend $0.01 to $0.29 per common share for the first quarter 2025\n\n\n\n2024 Results\n\n\n\nNet income of $185.3 million, or $4.83 per diluted common share, compared to $5.07 in the prior year\n\n\n\nNet interest income of $568.1 million, an increase of $5.5 million compared to the prior year\n\n\n\nTotal loans increased $336.2 million, or 3%\n\n\n\nTotal deposits increased $970.1 million, or 8%\n\n\n\nROAA of 1.25%, compared to 1.41% in the prior year\n\n\n\nROATCE1 of 13.58%, compared to 16.25% in the prior year\n\n\n\nTangible common equity to tangible assets1 of 9.05%\n\n\n\nTangible book value per common share1 of $37.27, an increase of $3.42, or 10%, from the prior year\n\n\n\nRepurchased 626,778 shares\n\n\n\n ST. LOUIS--(BUSINESS WIRE)--\nJim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), commented, “I am pleased that a continued focus on clients, associates, and our diversified business model has resulted in strong fourth quarter and full year 2024 financial results. These results, along with share repurchases and an increased common stock dividend, demonstrate our commitment to driving long-term shareholder value.”\n\n\nLally added, “We reported diluted earnings per share of $1.28 for the fourth quarter and $4.83 for the full year 2024. Our earnings resulted in a 1.27% ROAA and a 13.63% ROATCE1 for the fourth quarter. For the full year, we had a 1.25% ROAA and a 13.58% ROATCE1. We continued to grow the loan portfolio ...