---
schema_version: "secwatch.filing_event.v1"
accession: "0001018399-24-000037"
form_type: "8-K"
ticker: null
cik: "0001018399"
company_name: "ENTERPRISE BANCORP INC /MA/"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:12:27.835878+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Enterprise Bancorp Q1 net income falls YoY to $8.5M; NIM narrows to 3.20%

## Summary
- Net income $8.5M ($0.69 EPS), down from $10.8M ($0.88 EPS) YoY.
- Net interest margin compressed to 3.20% from 3.76% YoY due to higher funding costs.
- Total loans up 2.4% QoQ and deposits up 3.2% QoQ; strong balance sheet growth.
- Provision for credit losses $622K vs $2.7M YoY, reflecting improved forecast offset by one downgraded loan.
- Non-performing loans increased to $18.5M (0.51% of loans) due to one commercial construction loan.

## SEC filing metadata
- accession: 0001018399-24-000037
- form_type: 8-K
- cik: 0001018399
- company_name: ENTERPRISE BANCORP INC /MA/
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1018399/000101839924000037/0001018399-24-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1018399/000101839924000037/ebtc-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001018399-24-000037
- JSON: https://secwatch.observer/filing/0001018399-24-000037.json
- Plain text: https://secwatch.observer/filing/0001018399-24-000037.txt

## Key facts
- Earnings Releases
  ENTERPRISE BANCORP INC /MA/ reported the three months ended March 31, 2024 results: net income $8.5 million, EPS $0.69 per diluted common share.
  - Period: the three months ended March 31, 2024
  - Net income: $8.5 million
  - EPS: $0.69 per diluted common share
  - Result: reported results
  source text: Enterprise Bancorp, Inc. (NASDAQ: EBTC), parent of Enterprise Bank, announced its financial results for the three months ended March 31, 2024. Net income amounted to $8.5 million, or $0.69 per diluted common share, for the three months ended March 31, 2024, compared to $7.9 million, or $0.64 per diluted share, for the three months ended December 31, 2023 and $10.8 million, or $0.88 per diluted share, for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1018399/000101839924000037/0001018399-24-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.