secwatch.observer — SEC 8-K summary
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Issuer:     ENTERPRISE BANCORP INC /MA/ (—)
CIK:        0001018399
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001018399-24-000037
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1018399/000101839924000037/0001018399-24-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1018399/000101839924000037/ebtc-20240423.htm
  HTML page:      https://secwatch.observer/filing/0001018399-24-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer