Enterprise Bank Q4 Profits Down on Higher Deposit Costs

Lowell-based Enterprise Bank saw net income in the fourth quarter decrease to $7.9 million from $9.7 million in the third quarter as the cost of high-interest deposits– primarily in its money market and certificates of deposit products – offset the gains from yields in assets.

SVB Loans, Deposits Shrank in Q4

Silicon Valley Bank recorded lower deposits and loans in the fourth quarter of last year as the nation’s innovation economy continues to suffer under the weight of higher interest rates and investor expectations.

Brookline Bancorp Recorded Flat Profits in Q4

Brookline Bank’s parent company recorded net income of $22.9 million in the fourth quarter of 2023, flat compared to the $22.7 million the previous quarter thanks to higher deposit costs and spending related to its acquisition of PCSB Bank.

Chase Bank's branch facing Post Office Square in Boston's Financial District

Megabank Profits Mostly Fall in Q4 Amid Upbeat CEO Messaging

Three of the nation’s biggest banks said Friday that their profits fall last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.