Statement regarding Enterprise financial strength
To our Valued Clients:
Enterprise Bank & Trust has a long standing history of serving as a trusted financial services partner for our clients and our communities. In doing so, we’ve maintained a focus on disciplined, prudent and proactive capital and liquidity management and credit origination and administration. As we continue to navigate the current market uncertainty, please know we are committed to maintaining this discipline and focus.
In light of recent industry events, we wanted to share some information about Enterprise, which we regularly publish, in an effort to respond to questions you may have about Enterprise.
Enterprise is stable and fiscally strong.
- We are in a strong financial position, as evidenced by our strong 2022 fiscal year results, which include:
- 1.52% return on average assets
- 8.4% tangible common equity to tangible assets ratio
- After tax, net unrealized losses on the held-to-maturity portfolio represent $61 million, or 48 basis points of tangible common equity
- 14.2% total capital ratio
- Non-performing assets to total assets ratio of 0.08%
- Allowance for credit losses to total loans of 1.41% (1.56% excluding loans guaranteed by the SBA)
- Investment securities as a proportion of assets remain generally consistent with 2019 levels
- We have prudently and proactively managed our liquidity and capital in a transparent manner in anticipation of the economic uncertainty resulting from federal monetary policy and a rapidly-rising interest rate environment.
Enterprise’s client base is diverse and does not rely on one specific segment
- Enterprise does not engage in venture capital banking or cryptocurrency banking.
- As a commercial bank, our primary focuses are in banking clients within the manufacturing, distribution, and professional services industries, with our largest industry segments including finance and insurance, accommodation and food services, real estate/property management, and healthcare.
- Enterprise has grown responsibly with a diverse client base consisting of privately held, well established businesses within our geographically diverse core markets, along with a stable consumer base.
As always, we are here to support you. You are welcome to reach out to your Relationship Manager, Treasury Management Officer, or your local branch should you have any questions. We remain ready to continue delivering the high-touch, consultative service you have come to expect.