Esquire Financial Holdings ( (ESQ) ) has released its Q4 earnings. Here is a breakdown of the information Esquire Financial Holdings presented to its investors.
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Esquire Financial Holdings, Inc., a financial holding company headquartered in Jericho, New York, operates through its subsidiary, Esquire Bank, offering specialized financial and payment processing solutions to the litigation industry and small businesses nationwide. In its latest earnings report, Esquire Financial Holdings announced record earnings for 2024, driven by significant growth in commercial loans and deposits. The company achieved a 19% increase in net income for the fourth quarter to $11.8 million and a 7% rise for the full year, reaching $43.7 million. The strong performance was supported by core deposit growth of $234.9 million and robust commercial loan growth, particularly in the litigation sector. Esquire maintained industry-leading returns on average assets and equity with 2.57% and 20.14%, respectively, for the full year. The bank reported a net interest margin of 6.06%, bolstered by higher-yielding commercial loans and stable fee-based income. Looking ahead, Esquire Financial Holdings remains focused on leveraging its core platforms and expanding its commercial lending and deposit growth, with management expressing confidence in maintaining its strong financial performance into 2025.
