EFSCP - Enterprise Financial Services Corp (EFSC) Q1 2024 Earnings Call Transcript
2024-04-23 15:20:09 ET
Enterprise Financial Services Corp (EFSC)
Q1 2024 Earnings Conference Call
April 23, 2024 11:00 ET
Company Participants
Jim Lally - President and Chief Executive Officer
Keene Turner - Chief Financial Officer and Chief Operating Officer
Scott Goodman - President, Enterprise Bank & Trust
Doug Bauche - Chief Credit Officer, Enterprise Bank & Trust
Conference Call Participants
Jeff Rulis - D.A. Davidson
Andrew Liesch - Piper Sandler
Damon DelMonte - KBW
Brian Martin - Janney
Presentation
Operator
Thank you for standing by. My name is Kath and I will be your conference operator today. At this time, I would like to welcome everyone to the Enterprise Financial Services Corp First Quarter 2024 Earnings Conference Call. [Operator Instructions] Thank you. I would now like to turn the call over to Jim Lally, President and CEO. Please go ahead.
Jim Lally
Thank you, Kath and good morning, everyone and thank you very much for joining us this morning, and welcome to our 2024 first quarter earnings call. Joining me this morning is Keene Turner, EFSC’s Chief Financial Officer and Chief Operating Officer; Scott Goodman, President of Enterprise Bank & Trust; and Doug Bauche, Chief Credit Officer of Enterprise Bank & Trust.
Before we begin, I would like to remind everybody on the call that a copy of the release and accompanying presentation can be found on our website. The presentation and earnings release were furnished on SEC Form 8-K yesterday. Please refer to Slide 2 of the presentation titled Forward-Looking Statements and our most recent 10-K and 10-Q for reasons why actual results may vary from any forward-looking statements that we make today.
The first quarter represents fundamentally sound performance amid a higher for longer economic and interest rate environment. Our business model, associate base and management team has been constructed to perform during all economic environments. However, the current pivot in the interest rate policy from year end will further assist us in stabilizing our margins and therefore, our profitability in the upcoming quarters.
Like we stated during previous earnings calls and investor meetings over the last several years, we have worked diligently to diversify our business model such that we do not have to depend on any one business, market or asset class to produce high-quality and predictable earnings. Our first quarter financial performance has resulted in this focused strategy, and I am confident that we can continue to perform at this level or better for the remainder of 2024....
Enterprise Financial Services Corp (EFSC) Q1 2024 Earnings Call Transcript