- Enterprise Bancorp press release ( NASDAQ: EBTC ): Q3 GAAP EPS of $0.98.
- Revenue of $44.30M (+13.7% Y/Y).
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The provision for credit losses for the three months ended September 30, 2022, amounted to $1.0 million, compared to $28 thousand for the three months ended September 30, 2021.
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Average PPP loans outstanding decreased $216.5 million, or 97%, due to the continued forgiveness of PPP loans by the SBA during the period.
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Average core loans (non-GAAP) increased $410.2 million, or 15%, and the yield increased 25 basis points. Core loan yields have benefited primarily from increases in the prime lending rate of 300 basis points between March and September of 2022.
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Enterprise Bancorp GAAP EPS of $0.98, revenue of $44.30M