Enterprise Bank and Trust Company in Lowell, Massachusetts (MA), NH



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Enterprise Bank and Trust Company
GeneralFDIC Certificate #: 27408
Status: Active
Federal Reserve ID: 1356768
Bank Holding Company (Regulatory Top Holder): Enterprise Bancorp, Inc. (RSSDID: 2461016, Location: Lowell, MA)
Date Established: January 03, 1989
WWW: http://www.enterprisebanking.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 20 (Domestic: 19, Interstate: Yes)
OTS Docket #: 11801
FDIC's unique #: 39877
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 03, 1989
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 222 Merrimack Street, Lowell, MA 1852
County: Middlesex
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: North Boston
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Lowell, MA-NH (#4560)
Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
Core Based Statistical Division: Cambridge-Newton-Framingham, MA (#15764)
History of ChangesName Change
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,488.4 mil
Equity capital: $137.4 mil
Deposits held in domestic offices: $1,333.6 mil
Return on assets (ROA): 0.85% ($12.6 mil)
Quarterly return on assets: 0.86% ($12.8 mil)
Return on Equity (ROE): 9.35% ($12.8 mil)
Quarterly return on equity: 9.40% ($12.9 mil)
Net income: $12.3 mil
Quarterly Net income: $3.2 mil
Pretax return on assets: 1.20% ($17,860.5 mil)
Quarterly Pretax return on assets: 1.20% ($17,860.5 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)347
Total assets$1,488,378
Cash and due from depository institutions$36,484
Interest-bearing balances$663
Securities$140,937
Federal funds sold & reverse repurchase agreements$2,115
Net loans & leases$1,227,328
Loan loss allowance $23,160
Trading account assets$0
Bank premises and fixed assets$27,310
Other real estate owned$1,445
Goodwill and other intangibles$5,656
All other assets$47,103
Life insurance assets$1,488,378
Total liabilities and capital$1,350,958
Total liabilities$1,333,559
Total deposits$1,023,228
Interest-bearing deposits$1,333,559
Deposits held in domestic offices$67
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$4,494
Other borrowed funds $0
Subordinated debt $12,905
All other liabilities $137,420
Total equity capital$137,420
Total bank equity capital$137,420
Perpetual preferred stock$0
Common stock$1,576
Surplus$72,839
Undivided profits $63,005
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $5,061
Income earned, not collected on loans $25,873
Earning assets $2,630
Long-term assets (5+ years) $5,822
Average Assets, year-to-date $1,371,043
Average Assets, quarterly $215,549
Volatile liabilities $1,455,879
Insider loans $1,492,200
FHLB advances $1,268,907
Loans and leases held for sale $1,489,876
Unused loan commitments $14,937
Tier 1 (core) risk-based capital $7,415
Tier 2 risk-based capital $128,151
Total risk weighted assets $0
Total unused commitments $7,522
Restructured Loans and leases $357,272
Derivatives$11,362
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $67,443
Total interest expense $7,465
Net interest income $59,978
Provision for loan and lease losses $5,197
Total noninterest income $10,529
Fiduciary activities $2,890
Service charges on deposit accounts $3,327
Trading account gains & fees $0
Additional noninterest income $4,312
Total noninterest expense $48,608
Salaries and employee benefits $28,671
Premises and equipment expense $6,649
Additional noninterest expense $13,288
Pre-tax net operating income $16,702
Securities gains (losses) $788
Applicable income taxes $5,151
Income before extraordinary items $12,339
Extraordinary gains - net $0
Net income attributable to bank $12,339
Net charge-offs $0
Cash dividends $12,339
Sale, conversion, retirement of capital stock, net $1,452
Net operating income $3,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.00%
Cost of funding earning assets 0.55%
Net interest margin 4.45%
Noninterest income to earning assets 0.78%
Noninterest expense to earning assets 3.60%
Net operating income to assets 0.81%
Return on assets (ROA) 0.85%
Pretax return on assets 1.20%
Return on equity (ROE) 9.35%
Retained earnings to average equity (YTD only) 7.08%
Net charge-offs to loans 0.12%
Credit loss provision to net charge-offs 357.92%
Efficiency ratio15.08%
Assets per employee$68,941
Cash dividends to net income (YTD only)4.29%
Condition Ratios (%)
Loss allowance to loans 24.31%
Loss allowance to noncurrent loans 1.85%
Noncurrent assets plus other real estate owned to assets 89.51%
Noncurrent loans to loans 1.84%
Net loans and leases to deposits2.07%
Net loans and leases to core deposits 92.03%
Equity capital to assets 97.65%
Core capital (leverage) ratio 9.23%
Tier 1 risk-based capital ratio 8.60%
Total risk-based capital ratio 10.10%
Memoranda
Average assets$11
Average earning assets$1,455,879
Average equity $131,981
Average loans $1,348,615
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$403,170
Number of Accounts1
Personal trust and agency accounts$395,319
Employee benefit-defined contribution accounts$30,728
Employee benefit-defined benefit accounts$9,779
Other retirement accounts$4,080
Corporate trust and agency accounts$32,304
Investment management agency accounts$0
Other fiduciary accounts$159,355
Fiduciary accounts held in foreign offices$159,073
Non-managed Assets$0
Number of Accounts1329
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$32,304
Employee benefit-defined benefit accounts$0
Other retirement accounts$7,851
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,840
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16 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
039877Enterprise Bank And Trust Company222 Merrimack Street, Lowell, MA 1852January 03, 1989Full Service Brick and Mortar
1261950Chelmsford Branch185 Littleton Road, Chelmsford, MA 1824June 07, 1993Full Service Brick and Mortar
3261952Billerica Branch674 Boston Road, Billerica, MA 1821June 19, 1995Full Service Brick and Mortar
4261953Leominster Branch4 Central Street, Leominster, MA 1453September 25, 1995Full Service Brick and Mortar
5261954Tewksbury Branch910 Andover Street, Tewksbury, MA 1876October 28, 1996Full Service Brick and Mortar
6261955Dracut Branch1168 Lakeview Avenue, Dracut, MA 1826November 03, 1997Full Service Brick and Mortar
7261956Westford Branch237 Littleton Road, Westford, MA 1886November 22, 1999Full Service Brick and Mortar
8242950Billerica Branch233 Boston Road, North Billerica, MA 1862October 14, 1959Full Service Brick and Mortar
9193574Chelmsford-Drum Hill Branch20 Drum Hill Road, Chelmsford, MA 1824September 29, 1971Full Service Brick and Mortar
10363885Lowell Connector Branch430 Gorham Street, Lowell, MA 1852April 29, 2002Full Service Brick and Mortar
11418833Fitchburg Branch420 John Fitch Highway, Fitchburg, MA 1420April 28, 2003Full Service Brick and Mortar
12426803Andover Branch8 & 8 Rear High Street, Andover, MA 1810March 15, 2004Full Service Brick and Mortar
14441986Main Street Tewksbury Branch1120 Main Street, Tewksbury, MA 1876July 13, 2005Full Service Brick and Mortar
15476103Methuen Branch255 Broadway, Methuen, MA 1844May 30, 2008Full Service Brick and Mortar
16480436Online Banking Branch222 Merrimack Street, Lowell, MA 1852June 30, 2008Full Service Cyber
17484936Acton Branch340 Great Road, Acton, MA 1720January 12, 2009Full Service Brick and Mortar
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4 New Hampshire Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
13433416Salem Nh Branch130 Main Street, Salem, NH 3079December 06, 2004Full Service Brick and Mortar
19510012Derry Nh Branch47 Crystal Avenue, Derry, NH 3038June 01, 2010Full Service Brick and Mortar
20517243Hudson Nh Branch45 Lowell Road, Hudson, NH 3051January 31, 2011Full Service Brick and Mortar
21528463Pelham Branch139 Bridge Street, Pelham, NH 3076Febuary 09, 2012Full Service Brick and Mortar
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