Quarterly profit falls as provisions and securities losses rise
Enterprise Financial Services posted Q2 2026 net income of $40.93 million, down 17.09% from the prior quarter; diluted EPS fell to $1.09 from $1.30.
Net interest income rose to $168.72 million, up $2.57 million from the prior quarter; net interest margin widened 0.02 percentage points to 4.30%.
Noninterest income dropped to $13.48 million from $19.09 million, driven by a $2.15 million net loss on sales of investment securities.
Provision for credit losses climbed to $14.21 million from $7.24 million, reflecting $13.56 million of net charge-offs tied mainly to two commercial credits.
Issued $175 million of 6.25% fixed-to-floating rate subordinated notes due 2036; sold about $179 million of securities to lift reinvestment yield to 5.20%.
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