Enterprise Financial Services Corp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2018
January 21, 2019 at 05:20 pm
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Enterprise Financial Services Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net interest income of $50,593,000 against $47,404,000 a year ago. Income before income tax expense was $28,428,000 against $27,349,000 a year ago. Net income was $23,529,000 or $1.02 basic and diluted per share against $7,529,000 or $0.33 per basic and $0.32 diluted per share a year ago. Core net interest income was $48,484,000 against $44,901,000 a year ago. Total core revenue was $56,150,000 against $56,019,000 a year ago.
For the year, the company reported net interest income of $191,905,000 against $177,304,000 a year ago. Income before income tax expense was $104,577,000 against $86,517,000 a year ago. Net income was $89,217,000 or $3.86 per basic and $3.83 diluted per share against $48,190,000 or o $2.10 per basic and $2.07 diluted per share a year ago. Core net interest income was $188,204,000 against $169,586,000 a year ago. Total core revenue was $224,819,000 against $203,964,000 a year ago.
For the quarter, the company reported net charge-offs was $2,822,000 compared to $3,313,000 a year ago.
Enterprise Financial Services Corp is a financial holding company for Enterprise Bank & Trust, which is a full-service financial institution, which offers banking and wealth management services to individuals and corporate customers primarily located in Arizona, California, Kansas, Missouri, Nevada and New Mexico. The Company offers a range of business and personal banking services, including wealth management services provided through Enterprise Trust, a division of Enterprise Bank & Trust. Its lending services include commercial and industrial, commercial real estate, real estate construction and development, residential real estate, small business administration, consumer and other loan products. The Company's lending services include variety of deposit products, including property management and community associations along with a complete suite of treasury management and international trade services for operating businesses. It also offers specialty deposit accounts to customers.
Enterprise Financial Services Corp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2018