This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Enterprise Bancorp, Inc. Announces 93rd Consecutive Profitable Quarter; 2012 Annual Net Income Of $12.4 Million; Deposit Growth Of $141.9 Million; And Loan Growth Of $114.2 Million

LOWELL, Mass., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. (the "Company") (Nasdaq:EBTC), parent of Enterprise Bank, announces net income for the twelve months ended December 31, 2012 of $12.4 million, an increase of $1.4 million, or 13%, compared to the same twelve-month period in 2011. Diluted earnings per share were $1.28 for the twelve months ended December 31, 2012, an increase of $0.12, or 10%, compared to the same period in 2011. Net income for the three months ended December 31, 2012 amounted to $3.2 million, an increase of $376 thousand, or 13%, compared to the three months ended December 31, 2011. Diluted earnings per share were $0.33 for the three months ended December 31, 2012, an increase of $0.03, or 10%, compared to the same period in 2011. Total assets increased 12% in 2012, ending the year at $1.67 billion, while increases in deposits and loans outstanding were 11%, and 9%, respectively. Investment assets under management increased 17% since December 31, 2011, amounting to $592 million at December 31, 2012.

As previously announced on January 15, 2013, the Company declared a quarterly dividend of $0.115 per share to be paid on March 1, 2013 to shareholders of record as of February 8, 2013. The quarterly dividend represents a 4.5% increase over the 2012 dividend rate. 

Chief Executive Officer Jack Clancy commented, "We believe our growth and performance is a direct reflection of our talented banking team, our strong customer experience culture, and our deep community banking roots, and this is what positions us well for the future. In 2012, we opened two new branches, in Pelham, NH and Tyngsboro, MA, and anticipate an early Spring opening of our new Lawrence, MA branch, which will be our twenty-first banking center. Strategically, our focus remains on organic growth and market expansion, while continually planning for our future by investing in our branch network, technology, progressive product capabilities, and, most importantly, in our people."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.22 -1.10%
FB $119.36 1.30%
GOOG $709.67 1.20%
TSLA $215.48 1.90%
YHOO $37.20 0.70%


Chart of I:DJI
DOW 17,686.22 +25.51 0.14%
S&P 500 2,050.14 -0.49 -0.02%
NASDAQ 4,710.2950 -6.7990 -0.14%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs