Enterprise Bancorp, Inc. (EBTC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Enterprise Bancorp, Inc. (EBTC) emerge como una potencia financiera estratégica, elaborando meticulosamente su modelo de negocio para atender las intrincadas necesidades bancarias de Massachusetts y las vibrantes economías locales de New Hampshire. Al combinar perfectamente la banca tradicional impulsada por la relación con tecnologías digitales de vanguardia, EBTC ha diseñado un enfoque integral que trasciende los paradigmas bancarios convencionales. Su innovador lienzo de modelo de negocio revela una estrategia matizada que prioriza las soluciones financieras centradas en la comunidad, aprovechando la experiencia regional, la infraestructura tecnológica avanzada y un profundo compromiso con las experiencias personalizadas de los clientes que los distinguen en el paisaje bancario competitivo.

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocios: asociaciones clave

Asociaciones comerciales locales en Massachusetts y New Hampshire

Enterprise Bancorp, Inc. mantiene asociaciones estratégicas con las siguientes asociaciones comerciales locales:

Nombre de la asociación	Ubicación	Estado de membresía
Cámara de Comercio de Greater Lowell	Lowell, MA	Miembro activo
Cámara de Comercio Regional de Nashua	Nashua, NH	Socio estratégico
Asociación de Banqueros de Massachusetts	Boston, MA	Miembro corporativo

Empresas de inversión regionales y socios de gestión de patrimonio

Enterprise Bank colabora con los siguientes socios de inversión y gestión de patrimonio:

• Merrimack Capital Management
• Gestión de patrimonio del este del banco
• Fidelity Investments (socio regional)

Instituciones financieras de desarrollo comunitario

Socio de CDFI	Enfoque de colaboración	Año establecido
Fondo de préstamos comunitarios del sur de New Hampshire	Préstamos para pequeñas empresas	2018
Massachusetts Growth Capital Corporation	Financiamiento de desarrollo económico	2016

Redes de soporte de pequeñas empresas

Enterprise Bancorp se involucra con las siguientes redes de soporte de pequeñas empresas:

• Prestador preferido de Administración de Pequeñas Empresas (SBA)
• Capítulo de puntaje de Massachusetts
• Centro de desarrollo de pequeñas empresas de New Hampshire

Impacto financiero de la sociedad para 2023:

Categoría de asociación	Préstamos colaborativos totales	Impacto económico
Desarrollo comunitario	$ 42.3 millones	387 pequeñas empresas admitidas
Redes comerciales regionales	$ 28.7 millones	246 nuevas conexiones comerciales

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: actividades clave

Servicios de banca comercial y minorista

A partir del cuarto trimestre de 2023, Enterprise Bancorp, Inc. reportó activos totales de $ 6.89 mil millones. El banco opera 45 sucursales de servicio completo en Massachusetts y New Hampshire.

Categoría de servicio bancario	Volumen total (2023)
Cuentas corrientes comerciales	$ 1.2 mil millones
Cuentas corrientes minoristas	$ 845 millones
Cuentas de ahorro de negocios	$ 678 millones

Préstamos a pequeñas y medianas empresas

Portafolio de préstamos comerciales de Enterprise Bank a partir de 2023:

• Préstamos totales de pequeñas empresas: $ 1.47 mil millones
• Tamaño promedio del préstamo para pequeñas empresas: $ 275,000
• Número de clientes activos de préstamos SME: 5.342

Gestión de productos de depósito e inversión

Tipo de producto	Depósitos/activos totales
Cuentas de depósito de demanda	$ 2.3 mil millones
Cuentas del mercado monetario	$ 412 millones
Certificados de depósito	$ 891 millones

Desarrollo de la plataforma de banca digital

Métricas de banca digital (2023):

• Usuarios de banca móvil: 87,600
• Transacciones bancarias en línea: 3.2 millones mensuales
• Inversión de plataforma digital: $ 4.7 millones

Iniciativas de apoyo financiero de la comunidad

Desglose de inversión comunitaria para 2023:

Categoría de iniciativa	Financiación total
Subvenciones de negocios locales	$ 3.2 millones
Préstamos de desarrollo comunitario	$ 22.5 millones
Soporte sin fines de lucro	$ 1.6 millones

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: recursos clave

Infraestructura bancaria regional fuerte

A partir del cuarto trimestre de 2023, Enterprise Bancorp, Inc. opera 45 oficinas de banca de servicio completo ubicados principalmente en el noreste de Massachusetts y el sur de New Hampshire.

Categoría de infraestructura	Detalles cuantitativos
Oficinas bancarias totales	45
Estados operativos primarios	Massachusetts, New Hampshire
Activos totales	$ 5.67 mil millones (31 de diciembre de 2023)

Equipo de gestión experimentado

El liderazgo de Enterprise Bank demuestra una experiencia bancaria significativa.

• CEO Dennis Strain: más de 40 años en la banca
• CFO Michael Zahansky: Liderazgo financiero de más de 25 años
• Promedio de tenencia ejecutiva: 18.5 años

Tecnología de banca digital avanzada

Infraestructura tecnológica que admite servicios de banca digital.

Métricas bancarias digitales	Datos cuantitativos
Usuarios bancarios en línea	78,500
Descargas de aplicaciones de banca móvil	52,300
Volumen anual de transacción digital	3.2 millones

Red de sucursal integral

Distribución geográfica de ubicaciones bancarias.

• Condados de Massachusetts servidos: 5
• Condados de New Hampshire servidos: 3
• Tamaño promedio de la rama: 4,200 pies cuadrados.

Reservas de capital y estabilidad financiera

Indicadores de fortaleza financiera para Enterprise Bancorp, Inc.

Métrica financiera	Valor
Relación de capital de nivel 1	12.4%
Relación de capital basada en el riesgo total	13.6%
Patrimonio de los accionistas	$ 621 millones

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para empresas locales

A partir del cuarto trimestre de 2023, Enterprise Bancorp, Inc. ofrece servicios especializados de banca comercial con las siguientes métricas financieras:

Segmento de banca comercial	Valor total
Cartera de préstamos comerciales	$ 687.4 millones
Cuentas bancarias de pequeñas empresas	3.742 cuentas activas
Tamaño promedio del préstamo comercial	$183,500

Tasas de interés competitivas para préstamos y depósitos

Ofertas actuales de tasas de interés a partir de enero de 2024:

• Tasas de interés del préstamo comercial: 6.25% - 8.75%
• Tasas de cuenta de ahorro comercial: 3.15% - 4.25%
• Tasas de préstamo inmobiliario comercial: 7.10% - 9.40%

Servicios financieros centrados en la comunidad

Métricas de inversión comunitaria	2023 datos
Préstamos comunitarios locales	$ 412.6 millones
Inversiones de desarrollo comunitario	$ 28.3 millones
Subvenciones de apoyo comercial local	$ 1.7 millones

Atención al cliente receptiva y basada en relaciones

Métricas de rendimiento del servicio al cliente:

• Tiempo promedio de respuesta al cliente: 2.3 horas
• Tasa de satisfacción del cliente: 92.4%
• Gerentes de relaciones dedicadas: 87 profesionales

Experiencias bancarias digitales y tradicionales integradas

Métricas bancarias digitales	2023 estadísticas
Usuarios de banca móvil	42,567 usuarios activos
Volumen de transacciones en línea	1,2 millones de transacciones mensuales
Plataformas de banca digital	3 plataformas integradas

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: relaciones con los clientes

Enfoque de banca de relación personalizada

Enterprise Bancorp, Inc. mantiene 36 oficinas bancarias de servicio completo en Massachusetts y New Hampshire a partir de 2023. El banco atiende a aproximadamente 55,000 cuentas de clientes con una estrategia bancaria personalizada.

Métrica de interacción del cliente	2023 datos
Duración promedio de la relación con el cliente	8.4 años
Gerentes de relaciones bancarias personales	42 Oficiales de relación dedicados
Calificación de satisfacción del cliente	4.3/5

Compromiso del cliente de la rama local

Enterprise Bancorp prioriza las interacciones de la sucursal local con Servicios bancarios cara a cara.

• Interacciones promedio de clientes de la sucursal semanal: 1,275
• Cobertura de la red de sucursales: 14 ciudades en Massachusetts
• Horas de rama extendidas a las 6 pm de lunes a viernes

Canales de soporte bancario digital

Enterprise Bancorp ofrece plataformas integrales de banca digital.

Canal digital	2023 Estadísticas de uso
Usuarios de banca móvil	28,500
Cuentas bancarias en línea	41,200
Volumen de transacción digital	3.2 millones de transacciones anualmente

Patrocinios de eventos comunitarios

La participación comunitaria es una estrategia clave de relación con el cliente.

• Patrocinios anuales de eventos comunitarios: 24
• Inversión comunitaria total: $ 287,000 en 2023
• Asociaciones locales sin fines de lucro: 16

Servicios de asesoramiento financiero a medida

Enterprise Bancorp ofrece consulta financiera especializada.

Servicio de asesoramiento	2023 métricas
Clientes de gestión de patrimonio	1,850
Valor de cartera promedio	$ 1.4 millones
Sesiones de planificación financiera	2.300 consultas individuales

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: canales

Red de sucursales físicas

A partir de 2024, Enterprise Bancorp, Inc. opera 18 ramas bancarias de servicio completo ubicados en Massachusetts y New Hampshire.

Estado	Número de ramas
Massachusetts	14
New Hampshire	4

Plataforma bancaria en línea

La plataforma digital de Enterprise Bank proporciona servicios integrales de banca en línea.

• Acceso seguro a la cuenta basada en la web
• Servicios de pago de facturas en línea
• Gestión de declaraciones electrónicas
• Capacidades de transferencia de fondos

Aplicación de banca móvil

La aplicación móvil del banco admite funciones de banca clave con autenticación multifactor.

Función de la aplicación móvil	Disponibilidad
Depósito de cheque móvil	Disponible
Alertas de cuenta en tiempo real	Disponible
Controles de tarjetas	Disponible

Servicios de banca telefónica

Enterprise Bank ofrece atención al cliente 24/7 a través de canales de banca telefónica dedicados.

• Consultas de saldo de la cuenta
• Revisión del historial de transacciones
• Apoyo al cliente

Red de cajeros automáticos

El banco mantiene una extensa red de cajeros automáticos con 22 ubicaciones de cajeros automáticos patentados.

Detalles de la red de cajeros automáticos	Cantidad
Cajeros automáticos	22
Socios de red sin recarga	Red de Allanding

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, Enterprise Bancorp sirve aproximadamente 1,287 empresas pequeñas a medianas en Massachusetts y New Hampshire. Cartera total de préstamos comerciales para este segmento: $ 342.6 millones.

Categoría de tamaño del negocio	Número de clientes	Volumen total del préstamo
Micro empresas (1-9 empleados)	623	$ 87.4 millones
Pequeñas empresas (10-49 empleados)	451	$ 156.2 millones
Empresas medianas (50-250 empleados)	213	$ 99 millones

Empresas comerciales locales

Base de clientes de la empresa comercial local: 892 cuentas comerciales activas. Saldo promedio de depósito comercial: $ 1.27 millones.

• Sector de fabricación: 187 clientes
• Sector minorista: 276 clientes
• Servicios profesionales: 429 clientes

Clientes de banca minorista individual

Total de clientes minoristas de banca: 42,563. Desglose demográfico:

Grupo de edad	Número de clientes	Porcentaje
18-34 años	8,512	20%
35-54 años	16,845	39.5%
55+ años	17,206	40.5%

Proveedores de servicios profesionales

Segmento de clientes del proveedor de servicios profesionales: 612 cuentas activas. Portafolio de préstamos de servicios profesionales totales: $ 78.3 millones.

• Profesionales legales: 187 clientes
• Proveedores de atención médica: 226 clientes
• Empresas de consultoría: 199 clientes

Organizaciones sin fines de lucro en Massachusetts y New Hampshire

Total de clientes sin fines de lucro: 203. Depósitos sin fines de lucro totales: $ 24.6 millones.

Categoría sin fines de lucro	Número de organizaciones	Depósitos totales
Organizaciones sin fines de lucro	47	$ 6.2 millones
Sin fines de lucro de atención médica	63	$ 9.7 millones
Sin fines de lucro de servicio comunitario	93	$ 8.7 millones

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: Estructura de costos

Gastos operativos de rama

A partir de los informes financieros de 2022, Enterprise Bancorp, Inc. reportó gastos operativos totales de la sucursal de $ 12.4 millones.

Categoría de gastos	Costo anual ($)
Alquiler y servicios públicos	4,680,000
Mantenimiento	2,340,000
Material de oficina	1,160,000

Mantenimiento de la infraestructura tecnológica

Enterprise Bancorp asignó $ 5.7 millones para el mantenimiento de la infraestructura tecnológica en 2022.

• Actualizaciones de sistemas de TI: $ 2,850,000
• Inversiones de ciberseguridad: $ 1,710,000
• Licencias de software: $ 1,140,000

Compensación y beneficios de los empleados

La compensación total de los empleados para 2022 fue de $ 24.6 millones.

Componente de compensación	Monto ($)
Salarios base	17,220,000
Bonos de rendimiento	3,690,000
Beneficios de atención médica	2,460,000
Contribuciones de jubilación	1,230,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio totalizaron $ 3.9 millones en 2022.

• Tarifas legales y de consultoría: $ 1,950,000
• Capacitación de cumplimiento: $ 780,000
• Informes y documentación: $ 1,170,000

Gastos de marketing y adquisición de clientes

El gasto de marketing para 2022 fue de $ 2.8 millones.

Canal de marketing	Gasto ($)
Publicidad digital	1,120,000
Medios tradicionales	840,000
Eventos comunitarios	560,000
Programas de referencia de clientes	280,000

Enterprise Bancorp, Inc. (EBTC) - Modelo de negocio: flujos de ingresos

Ingresos por intereses de las carteras de préstamos

Para el año fiscal 2023, Enterprise Bancorp, Inc. reportó ingresos por intereses totales de $ 133.1 millones. El desglose de la cartera de préstamos es el siguiente:

Categoría de préstamo	Saldo total	Ingresos por intereses
Préstamos comerciales	$ 687.4 millones	$ 48.2 millones
Préstamos inmobiliarios	$ 512.6 millones	$ 42.7 millones
Préstamos al consumo	$ 215.3 millones	$ 18.9 millones

Cargos de servicio y tarifas

Los cargos y tarifas de servicio para 2023 totalizaron $ 22.5 millones, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 8.3 millones
• Tarifas de sobregiro: $ 5.7 millones
• Tarifas de transacción: $ 4.9 millones
• Otros cargos de servicio: $ 3.6 millones

Comisiones de productos de inversión

Las comisiones de productos de inversión generaron $ 15.6 millones en ingresos para 2023:

Producto de inversión	Ingresos por comisión
Fondos mutuos	$ 6.2 millones
Cuentas de jubilación	$ 5.4 millones
Servicios de corretaje	$ 4.0 millones

Ingresos de la transacción bancaria digital

Las transacciones bancarias digitales contribuyeron con $ 7.8 millones al flujo de ingresos en 2023:

• Transacciones bancarias en línea: $ 3.6 millones
• Tarifas de banca móvil: $ 2.7 millones
• Procesamiento de pagos electrónicos: $ 1.5 millones

Tarifas de servicio de gestión de patrimonio

Los servicios de gestión de patrimonio generaron $ 12.4 millones en tarifas para 2023:

Categoría de servicio	Ingresos por tarifas
Planificación financiera	$ 5.2 millones
Gestión de activos	$ 4.7 millones
Servicios de confianza	$ 2.5 millones

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Value Propositions

You're looking at what Enterprise Bancorp, Inc. (EBTC) offers its clients-the core reasons they choose them over other options, especially as they integrate with Rockland Trust following the July 1, 2025, legal closing. This value is built on a foundation of deep local ties and a full product shelf.

Community-focused, high-touch commercial banking relationships

The value proposition centers on delivering banking services with a personal touch, which is a hallmark of a community bank. This is supported by a long history of stability and commitment to the region.

• Main office located in Lowell, Massachusetts.
• Reported 142 consecutive profitable quarters, demonstrating financial resilience.
• The CEO noted confidence in the cultural alignment with Rockland Trust following the merger.

Comprehensive suite of commercial, retail, and mortgage loan products

Enterprise Bancorp, Inc. offers a wide range of lending options, with a significant focus on commercial lending, which has been a primary driver of recent growth.

Here's a look at the lending scale as of the first quarter of 2025:

Metric	Amount as of March 31, 2025
Total Loans	$4.05 billion
Loan Growth (Q1 2025 vs. Q4 2024)	1.7%
Loan Growth (Last Twelve Months)	11%
Commercial Real Estate Loan Concentration	58% of total loan book

The bank's ability to grow its loan portfolio by 11% over the preceding twelve months shows they are actively meeting commercial demand. Also, Net Interest Income for Q1 2025 was $38.7 million, a 10% increase year-over-year.

Integrated wealth management and trust services for affluent clients

For clients needing more than traditional banking, Enterprise Bancorp, Inc. provides integrated wealth management and trust services. This segment contributes meaningfully to non-interest income.

The scale of this service offering is reflected in the assets managed:

• Wealth assets under management and administration (AUM&A) stood at $1.51 billion at March 31, 2025.
• Wealth management fees saw an increase of 13% in the first quarter of 2025, reflecting growth in assets under management and administration.

Financial resilience and consistent growth record

The bank's value proposition includes a proven track record of performance, even through economic stress. This history suggests prudent management and a durable business model.

Key indicators of this resilience and performance include:

• Reported profitability for 142 consecutive quarters.
• Earnings per share (EPS) grew at an average annual rate of 8.0% over 6 of the last 9 years (as of mid-2025 analysis).
• Q1 2025 Net Income was $10.4 million, an increase from $8.5 million in Q1 2024.
• Tax-equivalent Net Interest Margin (NIM) for Q1 2025 was 3.32%.

Local decision-making and personalized service model

This point speaks directly to the high-touch nature of their commercial relationships. While specific internal metrics aren't public, the structure implies that decisions are made closer to the customer, which is a key differentiator from larger, more centralized institutions.

The bank offers a range of services including:

• Commercial, residential, and consumer loan products.
• Deposit products and cash management services.
• Electronic and digital banking options.

The core of this value is the promise of faster, more relationship-driven responses for commercial clients, which is what keeps their loan growth solid at 1.7% for the quarter ending March 31, 2025.

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Customer Relationships

You're looking at the relationship structure for Enterprise Bancorp, Inc. right before the July 1, 2025, acquisition closed. This model was built on deep, localized knowledge, which is why they maintained a significant presence even with the merger on the horizon. The core idea here is that high-value clients get a person, not just a portal.

Dedicated relationship managers for commercial and wealth clients

For your commercial clients and those utilizing wealth advisory services, the model mandates a single point of contact. This structure is designed to support the loan book, which stood at $4.05 billion as of the first quarter of 2025. The focus on commercial relationships is clear: commercial real estate loans made up 58% of the total loan book at that time. For the wealth side, the advisory team supported assets under management totaling $1.51 billion in Q1 2025. This level of dedicated service requires significant human capital; Enterprise Bancorp, Inc. had 576 employees supporting this structure.

High-touch, advisory-based service model

The service isn't just about processing transactions; it's about advising. This means the relationship managers are expected to be deeply integrated into the client's financial planning, whether it's structuring a complex commercial credit facility or managing trust services for a family group. This advisory layer is what justifies the premium service expectation from commercial and high-net-worth retail segments. It's a classic relationship banking play, prioritizing depth over sheer transactional volume for these key segments.

Here's a quick look at the scale of the customer assets these relationships managed as of March 31, 2025:

Metric	Amount (as of Q1 2025)
Total Loans	$4.05 billion
Total Customer Deposits	$4.15 billion
Wealth Assets Under Management	$1.51 billion
Commercial Real Estate Loan Concentration	58% of Total Loans

Community-oriented, long-term customer engagement

Enterprise Bancorp, Inc. emphasized its community focus, which translates directly into long-term relationship building rather than quick sales. They actively engaged the business community through resources like the Enterprise.ing Podcast and the no-cost Enterprise University skill development program for business leaders and their teams. This effort aims to build goodwill and trust, which are the bedrock of long-term banking relationships. They were actively communicating with an audience of over 10,000+ business leaders interested in their insights as of late 2025.

The commitment to the local footprint was also evident in their physical presence and growth strategy, including the acquisition of 12 branches from First Interstate Bank, which closed on October 10, 2025, expanding their reach in Kansas City and Arizona.

Automated self-service for routine retail transactions

To free up those high-touch relationship managers, the retail side relied on automation for everyday banking. This meant customers could handle routine tasks without needing to speak to an associate. The self-service options included:

• Online and mobile banking services.
• Access to checking and limited-transactional savings accounts.
• Management of term certificates of deposit.

This digital layer is defintely necessary to scale the retail base while keeping the high-value commercial and wealth segments staffed with dedicated experts.

Finance: draft 13-week cash view by Friday.

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Channels

You're looking at how Enterprise Bancorp, Inc. (EBTC), through Enterprise Bank, reached its customers as of late 2025, right after the expected merger completion with Independent Bank Corp. The physical footprint remains a core delivery method, though digital adoption is clearly a major focus.

Retail branch network in Eastern Massachusetts and Worcester County

The physical presence is anchored by the Enterprise Bank network, which, prior to the July 1, 2025, merger, operated 27 full-service branches across Massachusetts and New Hampshire. Rockland Trust, the surviving entity post-merger, planned to keep all these Enterprise Bank branches open, extending its footprint north. Enterprise Bank's primary service area before the merger focused on the Northern Middlesex, Northern Essex, and Northern Worcester counties of Massachusetts, alongside Southern Hillsborough and Southern Rockingham counties in New Hampshire. This network supports the delivery of commercial, residential, and consumer loan products, plus retail deposit services like checking and term certificates of deposit.

The channel strategy relies on these locations for high-touch service, even as the industry sees consolidation; bankers expect a reduction in physical bank branches by over 25% by 2030.

Commercial loan officers and relationship teams

Commercial lending and relationship management are driven by dedicated teams, though a specific headcount isn't public. These teams manage the deployment of capital, which, as of the first quarter of 2025, resulted in total loans reaching $4.05 billion. This loan portfolio includes commercial real estate, commercial and industrial, and commercial construction loans. The growth in net interest income, which rose 10% year-over-year in Q1 2025, is directly tied to the effectiveness of these relationship teams in driving loan growth, which was 1.7% for that quarter and 11% over the last twelve months.

Online and mobile banking platforms for digital access

Digital channels provide essential access for routine transactions and account management. Enterprise Bank offers a full suite of online and mobile banking services, alongside cash management services. The total customer deposits managed through these channels and branches stood at $4.15 billion as of Q1 2025. Improving the digital experience was a top strategic priority for financial institutions in 2025, with 52% of respondents citing it as such.

Here's a look at the scale of the business supporting these channels as of early 2025, before the full integration:

Metric	Value (Q1 2025 or Latest Available)	Channel Relevance
Total Loans	$4.05 billion	Commercial & Retail Lending Origination/Servicing
Total Customer Deposits	$4.15 billion	Retail & Commercial Deposit Gathering
Net Interest Margin	3.32%	Profitability of Loan/Deposit Channels
Total Assets	$4.90 billion	Overall Balance Sheet Capacity

Wealth advisory and trust services offices

Wealth advisory and trust services are delivered through dedicated offices, including the subsidiary Enterprise Wealth Services LLC. These services encompass Wealth Planning, Investment Management, and Trust and Estate Services, often using a 'high-touch' approach. As of Q1 2025, wealth assets under management were reported at $1.51 billion, having declined by 1.6% that quarter. Post-merger, the combined entity anticipates wealth assets under administration to reach approximately $8.7 billion, indicating a significant expansion of this channel's scale.

The delivery model for wealth services emphasizes independence, as the team sells no proprietary investment products.

• Wealth Planning addresses lifetime financial goals and retirement horizon.
• Investment Management includes a risk tolerance assessment and portfolio management.
• Trust and Estate Services are offered to individuals, businesses, trusts, and foundations.
• The team combines a high-touch approach with a reputation for industry-leading client satisfaction.

Finance: draft pro-forma channel expense allocation for Q3 2025 by end of month.

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Customer Segments

Enterprise Bancorp, Inc. served a defined set of customer groups through Enterprise Bank and Trust Company, focusing its lending and deposit gathering efforts regionally.

Small-to-mid-sized commercial businesses (core focus)

This segment drove the core lending activity. As of the first quarter of 2025, total loans stood at $4.05 billion. The commercial real estate segment alone comprised 58% of the total loan book as of March 31, 2025. The bank also provided commercial and industrial and commercial construction loans to this base.

Affluent individuals, family groups, and trusts

Enterprise Bancorp provided wealth advisory and management services to this group. Wealth assets under management were reported at $1.51 billion in the first quarter of 2025. These services included customized investment management and trust services.

Local retail customers and consumers

This group provided the foundational deposit base. Total customer deposits were $4.15 billion in Q1 2025. Enterprise Bank maintained 27 full-service branches across Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, and Southern Hillsborough and Southern Rockingham counties in New Hampshire to serve these local customers. The bank offered commercial and retail deposit products, including checking accounts and term certificates of deposit.

Non-profit organizations and endowments

These entities were explicitly targeted for wealth advisory and trust services. They were served alongside individuals and family groups, utilizing the same specialized investment management offerings.

The following table summarizes key financial metrics from the Q1 2025 reporting period, which inform the scale of these customer-driven activities:

Financial Metric	Amount (USD)	Context
Total Loans	$4.05 billion	Total loan portfolio as of March 31, 2025.
Total Customer Deposits	$4.15 billion	Total customer deposits as of March 31, 2025.
Wealth Assets Under Management	$1.51 billion	Assets managed for individuals, trusts, and organizations.
Commercial Real Estate Loans	58%	Percentage of total loan book as of March 31, 2025.
Full-Service Branches	27	Physical locations serving local customers.
Net Interest Income (Q1 2025)	$38.7 million	Net interest income for the first quarter of 2025.

The customer base was served through a diversified product portfolio:

• Commercial, residential, and consumer loans.
• Commercial and retail deposit products.
• Cash management services.
• Brokerage and insurance services.

The company reported 142 consecutive profitable quarters leading up to the July 1, 2025, merger with Independent Bank Corp.

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Cost Structure

You're looking at the core costs Enterprise Bancorp, Inc. (EBTC) faces to run its banking operations, especially as it navigates the announced merger with Rockland Trust Company. These costs are primarily split between interest paid to secure funding and the non-interest expenses required for daily operations and strategic initiatives.

Interest Expense paid on customer deposits and borrowings represents the cost of funds. For the three months ended March 31, 2025, the total interest expense contributing to the Net Interest Income calculation saw increases. Specifically, deposit interest expense increased by $1.0 million year-over-year, and borrowings interest expense also increased by $1.0 million year-over-year for that quarter. This reflects the competitive environment for funding sources.

The overall non-interest expense for the first quarter of 2025 was $29.9 million, which was a 4% increase compared to the first quarter of 2024. This increase was driven by several key areas you asked about.

Personnel costs, including salaries and benefits are a significant component of the non-interest expense base. For Q1 2025, salaries and employee benefits expense was a primary driver of the overall increase, rising by $760 thousand compared to the prior year's first quarter. This suggests ongoing investment in staffing or merit increases, even as the company prepares for integration.

Merger-related costs and integration expenses are now a visible cost factor. In Q1 2025, these expenses contributed $290 thousand to the year-over-year increase in non-interest expenses, directly tied to the planned merger with Rockland Trust Company, which shareholders approved on April 3, 2025.

For Operating expenses for the branch network and technology infrastructure, the most granular, non-personnel, non-merger data point available from recent reports relates to the 2024 full year, where Total Non-Interest Expense was $385.0 million. A component of this, Net Occupancy & Equipment Expense, was reported at $20 million for the full year 2024, which gives you a baseline for the physical and tech footprint costs. You should expect these costs to be managed carefully post-merger to realize anticipated synergies.

Here is a summary of the key cost drivers identified in the Q1 2025 reporting period:

Cost Category Component	Period	Amount (USD)	Context/Change
Total Non-Interest Expense	Q1 2025	$29.9 million	Reported quarterly total
Increase in Salaries and Employee Benefits Expense	Q1 2025 vs Q1 2024	$760 thousand	Driver of Non-Interest Expense increase
Merger-Related Expenses	Q1 2025 vs Q1 2024	$290 thousand	Driver of Non-Interest Expense increase
Increase in Deposit Interest Expense	Q1 2025 vs Q1 2024	$1.0 million	Component of Interest Expense
Increase in Borrowings Interest Expense	Q1 2025 vs Q1 2024	$1.0 million	Component of Interest Expense

The cost structure also involves other elements that make up the total non-interest expense base. You can see how these major cost drivers fit into the overall expense profile:

• Total Non-Interest Expense for Q1 2025 was $29.9 million.
• Salaries and benefits expense was a primary driver of the 4% YoY increase in non-interest expense.
• Merger costs accounted for $0.29 million of the Q1 2025 year-over-year expense increase.
• Total customer deposits were $4.15 billion as of March 31, 2025, which directly influences deposit interest expense.
• Total loans stood at $4.05 billion as of March 31, 2025, impacting the need for borrowings.

The cost of funding is sensitive to market rates; for instance, the total cost of deposits was 2.12% in the full year 2024, up from 1.58% in 2023.

Finance: draft Q2 2025 expense forecast by next Tuesday.

Enterprise Bancorp, Inc. (EBTC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Enterprise Bancorp, Inc. (EBTC) brings in money as of late 2025. The bank's revenue engine is clearly still powered by traditional lending activities, though fee income is an important secondary driver, especially with the focus on wealth management.

The primary revenue driver is Net Interest Income from loans and investments, which for the first quarter of 2025 was reported at $38.7 million. This figure represents a solid 10% increase year-over-year for Q1 2025, supported by strong loan growth and an improved net interest margin of 3.32%.

The growth in Net Interest Income is directly tied to the lending side of the business. The total loan portfolio grew by 1.7% during the quarter, ending Q1 2025 at $4.05 billion. The interest earned on these loans is a key component, with loan interest income specifically showing a $6.6 million increase in Q1 2025. The loan book concentration shows a clear emphasis on commercial lending.

Here's a quick look at the main revenue components for Q1 2025:

Revenue Stream Component	Q1 2025 Amount/Metric
Net Interest Income	$38.7 million
Total Revenue	$43.88 million
Non-Interest Income (Total)	$5.2 million
Total Loans Outstanding	$4.05 billion
Wealth Assets Under Management (AUM)	$1.51 billion

Beyond the core lending spread, Enterprise Bancorp, Inc. generates revenue through non-interest sources. Total non-interest income for Q1 2025 was $5.2 million, which was a 6% decrease year-over-year, largely due to lower gains on equity securities. However, specific fee-based services show positive momentum.

You see revenue generation from these fee-based services:

• Non-interest income from wealth management and trust fees, which increased by 13% in Q1 2025.
• Service charges and fees on deposit accounts, which are a stated focus area for the bank's strategic plan.

The loan interest income stream is further detailed by the types of loans Enterprise Bank originates. The bank's lending focus includes:

• Commercial Real Estate (CRE) loans, which comprised 58% of the total loan book as of Q1 2025.
• Commercial & Industrial (C&I) loans, supported by an expanded C&I team.
• Construction loans, with residential construction and land acquisition and development portfolios at $10.8 million and $4.6 million, respectively, as of March 31, 2025.

The bank also offers various other loan products, including residential and consumer loans, and SBA-guaranteed loan products like SBA 7(a), SBA 504, and SBA Express.