Enterprise Financial Services ( (EFSC) ) has released its Q4 earnings. Here is a breakdown of the information Enterprise Financial Services presented to its investors.
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Enterprise Financial Services Corp (Nasdaq: EFSC) is a financial holding company headquartered in Clayton, Missouri, offering a comprehensive suite of business and personal banking services, as well as wealth management services, through its subsidiary Enterprise Bank & Trust with operations spread across several U.S. states.
Enterprise Financial Services Corp reported strong financial results for the fourth quarter and the full year 2024, highlighting its ability to navigate a challenging economic environment. The company’s net income for the fourth quarter stood at $48.8 million, with earnings per diluted share of $1.28. For the full year, net income was $185.3 million, or $4.83 per diluted share, demonstrating stability in earnings despite a minor year-over-year decrease.
Key financial metrics revealed an increase in net interest income to $146.4 million and a modest growth in total loans and deposits, which rose to $11.2 billion and $13.1 billion, respectively, by the end of the year. Notable was the company’s robust liquidity position, with a loan-to-deposit ratio of 85.3% and a significant increase in on-balance-sheet liquidity. The year also saw a reduction in nonperforming assets and an improved asset quality profile.
Despite pressures on net interest margin, which decreased to 4.13% during the fourth quarter, Enterprise Financial Services Corp managed to maintain a solid return on average assets and equity. The company also enhanced shareholder value through share repurchases and an increased dividend. Looking ahead, the management expects to leverage its recent investments in operational capabilities and talent acquisition to drive further growth and strengthen its market position in 2025.
