Headquartered in Lowell, MA, Enterprise Bancorp, Inc. (NASDAQ: EBTC) (“the company” or “Enterprise”) is the $4.6 billion asset holding company for Enterprise Bank and Trust Company (“the bank”). Founded in 1989, EBTC operates a network of 27 branches in an economically stable region of the North Central region of Massachusetts and Southern New Hampshire.
EBTC’s business model focuses on commercial banking with complementary retail banking and wealth management services (AUM/AUA of $1.4 billion as of 1Q24). Excluding two small branch acquisitions completed in 2000, EBTC’s growth has been organic, and centered on organic expansion primarily in suburban markets north of Boston.
The company’s loan portfolio is commercially oriented, with nonowner-occupied CRE (including multi-family) representing 36% of total loans, followed by owner occupied CRE (including C&I) at 26%, C&D at 16%, and residential mortgage at 21% of total loans.
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