Enterprise Bancorp, Inc. (EBTC): Business Model Canvas [Jan-2025 Mise à jour]

Enterprise Bancorp, Inc. (EBTC) apparaît comme une puissance financière stratégique, créant méticuleusement son modèle commercial pour répondre aux besoins bancaires complexes du Massachusetts et des économies locales dynamiques du New Hampshire. En mélangeant de manière transparente les banques traditionnelles axées sur les relations avec des technologies numériques de pointe, l'EBTC a conçu une approche complète qui transcende les paradigmes bancaires conventionnels. Leur toile de modèle commercial innovant révèle une stratégie nuancée qui priorise les solutions financières axées sur la communauté, tirant parti de l'expertise régionale, des infrastructures technologiques avancées et un engagement profond envers les expériences client personnalisées qui les distinguent dans le paysage bancaire compétitif.

Enterprise Bancorp, Inc. (EBTC) - Modèle commercial: partenariats clés

Associations d'entreprises locales dans le Massachusetts et le New Hampshire

Enterprise Bancorp, Inc. maintient des partenariats stratégiques avec les associations commerciales locales suivantes:

Nom d'association	Emplacement	Statut d'adhésion
Chambre de commerce du Grand Lowell	Lowell, MA	Membre actif
Chambre de commerce régionale de Nashua	Nashua, NH	Partenaire stratégique
Association des banquiers du Massachusetts	Boston, MA	Membre de l'entreprise

Sociétés d'investissement régionales et partenaires de gestion de patrimoine

Enterprise Bank collabore avec les partenaires d'investissement et de gestion de la patrimoine suivants:

• Merrimack Capital Management
• Gestion de la patrimoine de la banque orientale
• Fidelity Investments (partenaire régional)

Développement communautaire Institutions financières

Partenaire CDFI	Focus de la collaboration	Année établie
Fonds de prêt communautaire du sud du New Hampshire	Prêts aux petites entreprises	2018
Massachusetts Growth Capital Corporation	Financement du développement économique	2016

Réseaux de soutien aux petites entreprises

Enterprise Bancorp s'engage avec les réseaux de soutien aux petites entreprises suivants:

• Administration des petites entreprises (SBA) Prêteur préféré
• Score du Massachusetts Chapter
• Centre de développement des petites entreprises du New Hampshire

Partenariat Impact financier pour 2023:

Catégorie de partenariat	Prêts collaboratifs totaux	Impact économique
Développement communautaire	42,3 millions de dollars	387 petites entreprises soutenues
Réseaux commerciaux régionaux	28,7 millions de dollars	246 nouvelles connexions commerciales

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: Activités clés

Services bancaires commerciaux et de détail

Au quatrième trimestre 2023, Enterprise Bancorp, Inc. a déclaré un actif total de 6,89 milliards de dollars. La banque exploite 45 succursales à service complet dans le Massachusetts et le New Hampshire.

Catégorie de service bancaire	Volume total (2023)
Comptes de chèques commerciaux	1,2 milliard de dollars
Comptes de chèques de vente au détail	845 millions de dollars
Comptes d'épargne commerciale	678 millions de dollars

Prêts aux petites et moyennes entreprises

Portfolio de prêt commercial de la Banque Enterprise à partir de 2023:

• Prêts totaux pour les petites entreprises: 1,47 milliard de dollars
• Taille moyenne des prêts aux petites entreprises: 275 000 $
• Nombre de clients de prêts PME actifs: 5 342

Gestion des produits de dépôt et d'investissement

Type de produit	Dépôts / actifs totaux
Comptes de dépôt de demande	2,3 milliards de dollars
Comptes de marché monétaire	412 millions de dollars
Certificats de dépôt	891 millions de dollars

Développement de la plate-forme bancaire numérique

Métriques bancaires numériques (2023):

• Utilisateurs de la banque mobile: 87 600
• Transactions bancaires en ligne: 3,2 millions par mois
• Investissement de plate-forme numérique: 4,7 millions de dollars

Initiatives de soutien financier communautaire

Répartition des investissements communautaires pour 2023:

Catégorie d'initiative	Financement total
Subventions commerciales locales	3,2 millions de dollars
Prêts de développement communautaire	22,5 millions de dollars
Support à but non lucratif	1,6 million de dollars

Enterprise Bancorp, Inc. (EBTC) - Modèle commercial: Ressources clés

Forte infrastructure bancaire régionale

Depuis le quatrième trimestre 2023, Enterprise Bancorp, Inc. exploite 45 bureaux bancaires à service complet situés principalement dans le nord-est du Massachusetts et le sud du New Hampshire.

Catégorie d'infrastructure	Détails quantitatifs
Total des bureaux bancaires	45
États de fonctionnement primaires	Massachusetts, New Hampshire
Actif total	5,67 milliards de dollars (31 décembre 2023)

Équipe de gestion expérimentée

La direction de la Banque Enterprise démontre une expérience bancaire importante.

• PDG Dennis Strain: plus de 40 ans dans les services bancaires
• CFO Michael Zahansky: 25 ans et plus leadership financier
• Pureur exécutif moyen: 18,5 ans

Technologie des banques numériques avancées

Infrastructure technologique soutenant les services bancaires numériques.

Métriques bancaires numériques	Données quantitatives
Utilisateurs de la banque en ligne	78,500
Téléchargements d'applications bancaires mobiles	52,300
Volume annuel de transaction numérique	3,2 millions

Réseau de succursale complet

Distribution géographique des emplacements bancaires.

• Les comtés du Massachusetts servis: 5
• Les comtés du New Hampshire servis: 3
• Taille moyenne de la branche: 4 200 pieds carrés.

Réserves de capital et stabilité financière

Indicateurs de force financière pour Enterprise Bancorp, Inc.

Métrique financière	Valeur
Ratio de capital de niveau 1	12.4%
Ratio de capital total basé sur le risque	13.6%
Capitaux propres des actionnaires	621 millions de dollars

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les entreprises locales

Depuis le quatrième trimestre 2023, Enterprise Bancorp, Inc. propose des services bancaires commerciaux spécialisés avec les mesures financières suivantes:

Segment bancaire d'entreprise	Valeur totale
Portefeuille de prêts commerciaux	687,4 millions de dollars
Comptes bancaires des petites entreprises	3 742 comptes actifs
Taille moyenne des prêts commerciaux	$183,500

Taux d'intérêt concurrentiels pour les prêts et les dépôts

Offres de taux d'intérêt actuels en janvier 2024:

• Taux d'intérêt des prêts commerciaux: 6,25% - 8,75%
• Taux de compte d'épargne commerciale: 3,15% - 4,25%
• Taux de prêt immobilier commercial: 7,10% - 9,40%

Services financiers axés sur la communauté

Métriques d'investissement communautaire	2023 données
Prêts communautaires locaux	412,6 millions de dollars
Investissements au développement communautaire	28,3 millions de dollars
Subventions locales de soutien aux entreprises	1,7 million de dollars

Support client réactif et axé sur les relations

Métriques de performance du service client:

• Temps de réponse moyen du client: 2,3 heures
• Taux de satisfaction client: 92,4%
• Gestionnaires des relations dédiées: 87 professionnels

Expériences bancaires numériques et traditionnelles intégrées

Métriques bancaires numériques	2023 statistiques
Utilisateurs de la banque mobile	42 567 utilisateurs actifs
Volume de transaction en ligne	1,2 million de transactions mensuelles
Plateformes bancaires numériques	3 plateformes intégrées

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: relations clients

Approche bancaire des relations personnalisées

Enterprise Bancorp, Inc. maintient 36 bureaux bancaires à service complet dans le Massachusetts et le New Hampshire en 2023. La banque dessert environ 55 000 comptes clients avec une stratégie bancaire personnalisée.

Métrique d'interaction client	2023 données
Durée moyenne de la relation client	8,4 ans
Gestionnaires de relations bancaires personnelles	42 Officiers de relation dédiés
Évaluation de satisfaction du client	4.3/5

Engagement des clients de la succursale locale

Enterprise Bancorp priorise les interactions de branche locales avec services bancaires en face à face.

• Interactions moyennes de la clientèle de succursale moyennes: 1 275
• Couverture du réseau de succursales: 14 villes du Massachusetts
• Heures de succursale prolongées à 18 h en semaine

Canaux de support bancaire numérique

Enterprise Bancorp propose des plateformes de banque numérique complètes.

Canal numérique	2023 Statistiques d'utilisation
Utilisateurs de la banque mobile	28,500
Comptes bancaires en ligne	41,200
Volume de transaction numérique	3,2 millions de transactions par an

Commanditaires des événements communautaires

L'engagement communautaire est une stratégie de relation client clé.

• Sponsors de l'événement communautaire annuel: 24
• Investissement total de la communauté: 287 000 $ en 2023
• Partenariats locaux à but non lucratif: 16

Services de conseil financier sur mesure

Enterprise Bancorp offre une consultation financière spécialisée.

Service consultatif	2023 métriques
Clients de gestion de la patrimoine	1,850
Valeur de portefeuille moyenne	1,4 million de dollars
Sessions de planification financière	2 300 consultations individuelles

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2024, Enterprise Bancorp, Inc. exploite 18 succursales bancaires à service complet situées dans le Massachusetts et le New Hampshire.

État	Nombre de branches
Massachusetts	14
New Hampshire	4

Plateforme bancaire en ligne

La plate-forme numérique de Enterprise Bank fournit des services bancaires en ligne complets.

• Accès sécurisé sur le compte Web
• Services de paiement des factures en ligne
• Gestion des déclarations électroniques
• Capacités de transfert de fonds

Application bancaire mobile

L'application mobile de la banque prend en charge les principales fonctions bancaires avec Authentification multi-facteurs.

Fonctionnalité d'application mobile	Disponibilité
Dépôt de chèques mobiles	Disponible
Alertes de compte en temps réel	Disponible
Commandes de carte	Disponible

Services bancaires téléphoniques

Enterprise Bank fournit un support client 24/7 via des canaux bancaires téléphoniques dédiés.

• Solde de compte Renseignements
• Revue de l'historique des transactions
• Assistance du service à la clientèle

Réseau ATM

La banque maintient un vaste réseau ATM avec 22 emplacements ATM propriétaires.

Détails du réseau ATM	Quantité
MAT propriétaires	22
Partenaires de réseau sans surcharge	Réseau AllPoint

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Depuis le quatrième trimestre 2023, Enterprise Bancorp dessert environ 1 287 petites et moyennes entreprises du Massachusetts et du New Hampshire. Portfolio total de prêts commerciaux pour ce segment: 342,6 millions de dollars.

Catégorie de taille d'entreprise	Nombre de clients	Volume total des prêts
Micro-entreprises (1-9 employés)	623	87,4 millions de dollars
Petites entreprises (10-49 employés)	451	156,2 millions de dollars
Entreprises moyennes (50-250 employés)	213	99 millions de dollars

Entreprises commerciales locales

Base de clientèle commerciale locale: 892 Comptes commerciaux actifs. Solde de dépôt commercial moyen: 1,27 million de dollars.

• Secteur de la fabrication: 187 clients
• Secteur de la vente au détail: 276 clients
• Services professionnels: 429 clients

Clients bancaires de détail individuels

Total des clients bancaires au détail: 42 563. Déchange démographique:

Groupe d'âge	Nombre de clients	Pourcentage
18-34 ans	8,512	20%
35 à 54 ans	16,845	39.5%
Plus de 55 ans	17,206	40.5%

Fournisseurs de services professionnels

Segment de clientèle du fournisseur de services professionnels: 612 comptes actifs. Portfolio de prêts professionnels totaux: 78,3 millions de dollars.

• Professionnels juridiques: 187 clients
• Fournisseurs de soins de santé: 226 clients
• Sociétés de conseil: 199 clients

Organisations à but non lucratif dans le Massachusetts et le New Hampshire

Clients totaux à but non lucratif: 203. Dépôts totaux à but non lucratif: 24,6 millions de dollars.

Catégorie à but non lucratif	Nombre d'organisations	Dépôts totaux
Organisations à but non lucratif éducatives	47	6,2 millions de dollars
Organisation de santé à but non lucratif	63	9,7 millions de dollars
Service communautaire à but non lucratif	93	8,7 millions de dollars

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: Structure des coûts

Succursale des dépenses opérationnelles

En 2022 rapports financiers, Enterprise Bancorp, Inc. a déclaré des dépenses opérationnelles de la succursale totale de 12,4 millions de dollars.

Catégorie de dépenses	Coût annuel ($)
Loyer et services publics	4,680,000
Entretien	2,340,000
Fournitures de bureau	1,160,000

Maintenance des infrastructures technologiques

Enterprise Bancorp a alloué 5,7 millions de dollars à la maintenance des infrastructures technologiques en 2022.

• Mises à niveau des systèmes informatiques: 2 850 000 $
• Investissements en cybersécurité: 1 710 000 $
• Licence de logiciel: 1 140 000 $

Compensation et avantages sociaux des employés

La rémunération totale des employés pour 2022 était de 24,6 millions de dollars.

Composant de compensation	Montant ($)
Salaires de base	17,220,000
Bonus de performance	3,690,000
Avantages sociaux	2,460,000
Contributions à la retraite	1,230,000

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire ont totalisé 3,9 millions de dollars en 2022.

• Frais juridiques et de conseil: 1 950 000 $
• Formation en conformité: 780 000 $
• Rapports et documentation: 1 170 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2022 étaient de 2,8 millions de dollars.

Canal de marketing	Dépenses ($)
Publicité numérique	1,120,000
Médias traditionnels	840,000
Événements communautaires	560,000
Programmes de référence client	280,000

Enterprise Bancorp, Inc. (EBTC) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Pour l'exercice 2023, Enterprise Bancorp, Inc. a déclaré un revenu total d'intérêts de 133,1 millions de dollars. La répartition du portefeuille de prêts est la suivante:

Catégorie de prêt	Solde total	Revenu d'intérêt
Prêts commerciaux	687,4 millions de dollars	48,2 millions de dollars
Prêts immobiliers	512,6 millions de dollars	42,7 millions de dollars
Prêts à la consommation	215,3 millions de dollars	18,9 millions de dollars

Frais de service et frais

Les frais de service et les frais pour 2023 ont totalisé 22,5 millions de dollars, avec la distribution suivante:

• Frais de maintenance du compte: 8,3 millions de dollars
• Frais de découvert: 5,7 millions de dollars
• Frais de transaction: 4,9 millions de dollars
• Autres frais de service: 3,6 millions de dollars

Commissions de produits d'investissement

Les commissions de produits d'investissement ont généré 15,6 millions de dollars de revenus pour 2023:

Produit d'investissement	Revenus de commission
Fonds communs de placement	6,2 millions de dollars
Comptes de retraite	5,4 millions de dollars
Services de courtage	4,0 millions de dollars

Revenus des transactions bancaires numériques

Les transactions bancaires numériques ont contribué 7,8 millions de dollars à la source de revenus en 2023:

• Transactions bancaires en ligne: 3,6 millions de dollars
• Frais de banque mobile: 2,7 millions de dollars
• Traitement des paiements électroniques: 1,5 million de dollars

Frais de service de gestion de patrimoine

Les services de gestion de patrimoine ont généré 12,4 millions de dollars en frais pour 2023:

Catégorie de service	Revenus des frais
Planification financière	5,2 millions de dollars
Gestion des actifs	4,7 millions de dollars
Services de confiance	2,5 millions de dollars

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.