Quarterly ResultJul 22, 2026, 04:11 PM
Enterprise Financial Services Authorizes 2M Share Buyback; Q2 EPS $1.09
AI Summary
Enterprise Financial Services Corp's Board authorized the repurchase of up to 2,000,000 additional common shares, representing approximately 5% of outstanding shares. This is in addition to 249,400 shares remaining from a prior plan. For Q2 2026, the company reported net income of $40.9 million, or $1.09 per diluted common share, a decrease from the prior quarter. Net interest income increased to $168.7 million, and net interest margin expanded to 4.30%. The company also issued $175 million in subordinated notes and increased its quarterly dividend to $0.35 per share, but faced higher provision for credit losses and net charge-offs due to two commercial credits.
Key Highlights
- Board authorized repurchase of up to 2,000,000 additional common shares.
- Q2 2026 diluted EPS was $1.09, down from $1.30 in the linked quarter.
- Net interest income increased to $168.7 million, up $2.6 million from linked quarter.
- Net interest margin (NIM) expanded to 4.30%, a 2 basis point increase from linked quarter.
- Total loans grew to $11.9 billion, an increase of $199.6 million from linked quarter.
- Issued $175 million of 6.25% fixed-to-floating rate subordinated notes due 2036.
- Increased quarterly common stock dividend by $0.01 to $0.35 per share.
- Provision for credit losses rose to $14.2 million, up from $7.2 million in linked quarter.
Price Impact
More from EFSC