Enterprise Bank Saw Loan Growth During First Quarter
Lowell-based Enterprise Bank saw deposits drop by less than 1 percent during the quarter, while loans grew by 2 percent.
Lowell-based Enterprise Bank saw deposits drop by less than 1 percent during the quarter, while loans grew by 2 percent.
Loan growth in a rising rate environment helped drive earnings at several Massachusetts stock banks.
Enterprise Bank saw earnings increase year-over-year by 26 percent, due in part to loan growth.
Lowell-based Enterprise Bank saw second quarter earnings fall 27 percent year-over-year, due in part to increased costs for employee salaries.
Commercial real estate loans helped drive growth at several local banks in 2021 as the industry moved away from Paycheck Protection Program lending in the second half of 2021.
Enterprise Bancorp in Lowell posted double-digit gains in the second quarter, boosted by organic loan growth.