Enterprise Bancorp, Inc. Reports Net Income of $10.8 Million for Q1 2023

Enterprise Bancorp, Inc.(EBTC) has released its unaudited fina ncial statements for the first quarter of 2023, showing a net income of $10.8 million. The company also reported impressive revenue of $46.8 million for the same period.

Consolidated Balance Sheets

The consolidated balance sheets reveal that Enterprise Bancorp, Inc.'s total assets as of March 31, 2023, amounted to $4.44 billion. Notably, cash and cash equivalents stood at $215.7 million, with $172.9 million in interest-earning deposits and $42.8 million in cash and due from banks. Additionally, the bank held $830.9 million in investment securities at fair value, comprising debt and equity securities.

Consolidated Statements of Income