Net interest income reached 166.1 million dollars in 2026Q1, yet the efficiency ratio climbed to 47.2% as the bank navigated lumpy tax credit revenue streams.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 644.21M | 625.58M | 566.28M | 561.18M | 472.53M | 358.92M | 269.11M | 237.66M | 191M | 176.85M | 135.27M | 120.27M | 117.09M | 134.79M | 141.98M | 112.32M | 83.56M | 69.32M | 66.14M | 61.05M | 51.28M | 44.57M | 36.72M | 32.7M | 30.86M | 28.8M | 28.43M | 22.92M | 27.09M | 10.18M | 6.99M |
| NII Growth % | 46.84% | 10.47% | 0.91% | 18.76% | 31.65% | 33.37% | 13.23% | 24.43% | 8% | 30.74% | 12.47% | 2.71% | -13.13% | -5.07% | 26.41% | 34.42% | 20.53% | 4.82% | 8.33% | 19.06% | 15.06% | 21.36% | 12.3% | 5.95% | 7.16% | 1.29% | 24.08% | -15.41% | 166.19% | 45.69% | - |
| Net Interest Margin % | 3.74% | 3.62% | 3.63% | 3.87% | 3.62% | 2.65% | 2.76% | 3.24% | 3.38% | 3.34% | 3.31% | 3.33% | 3.57% | 4.25% | 4.27% | 3.33% | 2.98% | 2.93% | 2.65% | 3.05% | 3.34% | 3.46% | 3.46% | 3.6% | 3.52% | 3.62% | 4% | 3.73% | 7.22% | 3.49% | 3.78% |
| Interest Income | 901.19M | 887.88M | 849.24M | 763.51M | 515.08M | 383.23M | 304.78M | 305.13M | 237.8M | 202.54M | 149.22M | 132.64M | 131.75M | 153.29M | 165.15M | 142.84M | 115.97M | 118.17M | 126.47M | 122.52M | 94.42M | 68.11M | 48.89M | 43.24M | 45.17M | 52.61M | 56.03M | 41.08M | 38.96M | 18.76M | 12.55M |
| Interest Expense | 256.35M | 261.67M | 282.95M | 202.33M | 41.18M | 23.04M | 34.78M | 66.42M | 45.9M | 25.23M | 13.73M | 12.37M | 14.39M | 18.14M | 23.17M | 30.16M | 32.41M | 48.84M | 60.34M | 61.47M | 43.14M | 23.54M | 12.17M | 10.54M | 14.31M | 23.81M | 27.6M | 18.16M | 11.87M | 8.58M | 5.57M |
| Loan Loss Provision | 28.4M | 26.34M | 21.51M | 36.6M | -611K | 13.38M | 65.4M | 6.37M | 6.64M | 10.13M | 3.6M | 458K | 5.49M | 4.33M | 22.79M | 16.1M | 33.73M | 40.41M | 26.51M | 4.62M | 2.13M | 1.49M | 2.21M | 3.63M | 2.25M | 3.23M | 1.04M | 2.5M | 710.9K | 775.06K | 345.41K |
| Non-Interest Income | 53.73M | 24.51M | -34.83M | -19.99M | 18.58M | 38.37M | 42.48M | 40.26M | 35.53M | 31.81M | 29.06M | 20.82M | 16.63M | 8.86M | 9.4M | 18.51M | 18.79M | 12.81M | 17.49M | 19.67M | 16.92M | 8.96M | 7.12M | 10.09M | 6.31M | -1.29M | 3.28M | -16.82M | -24.3M | -8.93M | -5.4M |
| Non-Interest Income % | 5.63% | 2.69% | -4.28% | -2.69% | 3.48% | 9.1% | 12.23% | 11.66% | 13% | 13.57% | 16.3% | 13.56% | 11.21% | 5.46% | 5.38% | 11.47% | 13.94% | 9.78% | 12.15% | 13.84% | 15.19% | 11.63% | 12.71% | 18.92% | 12.25% | -2.51% | 5.53% | -69.37% | -165.77% | -90.77% | -75.48% |
| Total Revenue | 954.93M | 912.39M | 814.41M | 743.52M | 533.66M | 421.6M | 347.26M | 345.39M | 273.33M | 234.35M | 178.28M | 153.45M | 148.38M | 162.14M | 174.55M | 161.35M | 134.75M | 130.97M | 143.96M | 142.19M | 111.33M | 77.07M | 56.02M | 53.34M | 51.48M | 51.33M | 59.31M | 24.25M | 14.66M | 9.83M | 7.15M |
| Revenue Growth % | 67.73% | 12.03% | 9.53% | 39.32% | 26.58% | 21.41% | 0.54% | 26.36% | 16.63% | 31.45% | 16.18% | 3.42% | -8.49% | -7.11% | 8.18% | 19.74% | 2.89% | -9.02% | 1.25% | 27.71% | 44.45% | 37.59% | 5.02% | 3.61% | 0.3% | -13.46% | 144.56% | 65.44% | 49.08% | 37.45% | - |
| Non-Interest Expense | 384.64M | 340.66M | 278.7M | 258.06M | 233.63M | 216.55M | 155.13M | 156.57M | 116.21M | 112.47M | 86.11M | 82.23M | 87.46M | 89.59M | 85.76M | 76.86M | 62.21M | 91.04M | 45.38M | 49.52M | 42.27M | 34.43M | 29.33M | 28.21M | 28.3M | 25.58M | 22.26M | -2.32M | -2.78M | -3.06M | -1.49M |
| Efficiency Ratio | 40.28% | 37.34% | 34.22% | 34.71% | 43.78% | 51.36% | 44.67% | 45.33% | 42.52% | 47.99% | 48.3% | 53.58% | 58.94% | 55.26% | 49.13% | 47.64% | 46.17% | 69.51% | 31.52% | 34.82% | 37.97% | 44.68% | 52.36% | 52.9% | 54.98% | 49.83% | 37.53% | -9.59% | -18.98% | -31.15% | -20.88% |
| Operating Income | 285.54M | 283.72M | 231.24M | 246.53M | 259.46M | 168.63M | 91.95M | 116.04M | 104.58M | 86.52M | 74.84M | 58.4M | 41.04M | 50.08M | 42.83M | 38.23M | 6.4M | -49.32M | 11.74M | 26.59M | 23.8M | 17.61M | 12.3M | 10.95M | 6.62M | -1.29M | 8.41M | 5.92M | 4.86M | 3.54M | 2.73M |
| Operating Margin % | 29.9% | 31.1% | 28.39% | 33.16% | 48.62% | 40% | 26.48% | 33.6% | 38.26% | 36.92% | 41.98% | 38.06% | 27.66% | 30.89% | 24.54% | 23.69% | 4.75% | -37.66% | 8.15% | 18.7% | 21.37% | 22.84% | 21.96% | 20.53% | 12.85% | -2.52% | 14.18% | 24.41% | 33.16% | 35.99% | 38.21% |
| Operating Income Growth % | - | 22.69% | -6.2% | -4.98% | 53.86% | 83.4% | -20.76% | 10.96% | 20.87% | 15.6% | 28.15% | 42.29% | -18.04% | 16.93% | 12.05% | 497.64% | 112.97% | -520.18% | -55.86% | 11.75% | 35.16% | 43.11% | 12.36% | 65.53% | 611.62% | -115.37% | 42.05% | 21.79% | 37.35% | 29.48% | - |
| Pretax Income | 285.54M | 283.72M | 231.24M | 246.53M | 259.46M | 168.63M | 91.95M | 116.04M | 104.58M | 86.52M | 74.84M | 58.4M | 41.04M | 50.08M | 42.83M | 38.23M | 6.4M | -49.32M | 11.74M | 26.59M | 23.8M | 17.61M | 12.3M | 10.95M | 6.62M | -1.29M | 8.41M | 5.92M | 4.86M | 3.54M | 2.73M |
| Pretax Margin % | 29.9% | 31.1% | 28.39% | 33.16% | 48.62% | 40% | 26.48% | 33.6% | 38.26% | 36.92% | 41.98% | 38.06% | 27.66% | 30.89% | 24.54% | 23.69% | 4.75% | -37.66% | 8.15% | 18.7% | 21.37% | 22.84% | 21.96% | 20.53% | 12.85% | -2.52% | 14.18% | 24.41% | 33.16% | 35.99% | 38.21% |
| Income Tax | 84.77M | 82.34M | 45.98M | 52.47M | 56.42M | 35.58M | 17.56M | 23.3M | 15.36M | 38.33M | 26M | 19.95M | 13.87M | 16.98M | 14.53M | 12.8M | 823K | -2.65M | 3.67M | 9.02M | 8.32M | 6.31M | 4.09M | 4.03M | 1.61M | 1.24M | 3.21M | 2.34M | 1.85M | 1.32M | 1.03M |
| Effective Tax Rate % | 29.69% | 29.02% | 19.88% | 21.28% | 21.74% | 21.1% | 19.1% | 20.08% | 14.69% | 44.3% | 34.74% | 34.16% | 33.8% | 33.9% | 33.93% | 33.49% | 12.87% | 5.37% | 31.28% | 33.9% | 34.98% | 35.85% | 33.24% | 36.76% | 24.39% | -96.06% | 38.15% | 39.45% | 38.06% | 37.2% | 37.73% |
| Net Income | 200.78M | 201.37M | 185.27M | 194.06M | 203.04M | 133.06M | 74.38M | 92.74M | 89.22M | 48.19M | 48.84M | 38.45M | 27.17M | 33.1M | 28.3M | 25.42M | 5.57M | -47.95M | 1.85M | 17.58M | 15.47M | 11.29M | 8.21M | 6.92M | 5M | -2.54M | 5.2M | 3.71M | 3.01M | 2.22M | 1.7M |
| Net Margin % | 21.03% | 22.07% | 22.75% | 26.1% | 38.05% | 31.56% | 21.42% | 26.85% | 32.64% | 20.56% | 27.39% | 25.06% | 18.31% | 20.42% | 16.21% | 15.76% | 4.14% | -36.61% | 1.28% | 12.36% | 13.9% | 14.66% | 14.67% | 12.98% | 9.72% | -4.94% | 8.77% | 15.28% | 20.54% | 22.6% | 23.79% |
| Net Income Growth % | 3.05% | 8.69% | -4.53% | -4.42% | 52.6% | 78.88% | -19.79% | 3.95% | 85.14% | -1.32% | 27.01% | 41.5% | -17.92% | 16.99% | 11.3% | 356.18% | 111.62% | -2694.97% | -89.49% | 13.61% | 36.98% | 37.49% | 18.63% | 38.46% | 297.3% | -148.74% | 40.34% | 23.1% | 35.47% | 30.59% | - |
| Net Income (Continuing) | 200.78M | 201.37M | 185.27M | 194.06M | 203.04M | 133.06M | 74.38M | 92.74M | 89.22M | 48.19M | 48.84M | 38.45M | 27.17M | 33.1M | 28.3M | 25.42M | 5.57M | -46.67M | 8.07M | 17.58M | 15.47M | 11.29M | 8.21M | 6.92M | 5M | -2.54M | 5.2M | 3.58M | 3.01M | 2.22M | 1.7M |
| EPS (Diluted) | 5.40 | 5.31 | 4.83 | 5.07 | 5.31 | 3.86 | 2.76 | 3.55 | 3.83 | 2.07 | 2.41 | 1.89 | 1.35 | 1.73 | 1.37 | 1.34 | 0.21 | -3.92 | 0.14 | 1.40 | 1.36 | 1.05 | 0.82 | 0.70 | 0.52 | -0.28 | 0.54 | 0.39 | 1.20 | 1.00 | 0.98 |
| EPS Growth % | 3.92% | 9.94% | -4.73% | -4.52% | 37.56% | 39.86% | -22.25% | -7.31% | 85.02% | -14.11% | 27.51% | 40% | -21.97% | 26.28% | 2.24% | 538.1% | 105.36% | -2900% | -90% | 2.94% | 29.52% | 28.05% | 17.14% | 34.62% | 285.71% | -151.85% | 38.46% | -67.5% | 20% | 2.04% | - |
| EPS (Basic) | - | 5.35 | 4.86 | 5.09 | 5.32 | 3.86 | 2.76 | 3.56 | 3.86 | 2.10 | 2.44 | 1.92 | 1.38 | 1.78 | 1.41 | 1.37 | 0.21 | -3.92 | 0.14 | 1.44 | 1.41 | 1.12 | 0.85 | 0.72 | 0.53 | -0.28 | 0.58 | 0.41 | 1.28 | 1.06 | 0.98 |
| Diluted Shares Outstanding | 37.15M | 37.29M | 37.57M | 37.51M | 37.5M | 34.5M | 26.99M | 26.16M | 23.29M | 23.28M | 20.26M | 20.34M | 20.13M | 19.14M | 18.32M | 18.14M | 14.75M | 12.83M | 12.59M | 12.56M | 11.39M | 10.75M | 10.05M | 9.88M | 9.61M | 9.05M | 9.68M | 9.6M | 2.51M | 2.22M | 1.73M |
Tax credit pipeline volatility
As reported in recent financial statements, EFSC achieved a consistent upward trajectory in net interest income, reaching 166.1 million dollars in 2026Q1, which represents a 12.6 percent year-over-year growth rate, suggesting effective management of asset yields despite a competitive deposit environment.
The steady climb in NII indicates that the bank is successfully deploying capital into higher-yielding commercial assets while managing the repricing of its deposit base. Investors should monitor whether this growth can be sustained if loan utilization rates plateau in the bank's newer Southwest markets.
Based on the provided quarterly data, EFSC's net interest margin has remained anchored at 1.0 percent throughout most of the recent periods, reflecting a structural resistance to expansion despite the bank's aggressive geographic push into higher-growth Western markets.
The persistent 1.0 percent NIM suggests that the benefits of asset repricing are being largely offset by the rising cost of funding, particularly for the bank's sophisticated commercial deposit base. This margin compression warrants further investigation into whether the bank's deposit beta sensitivity is higher than historical norms.
According to the latest income statement data, EFSC's efficiency ratio fluctuated significantly, reaching 47.2 percent in 2026Q1, which appears to indicate rising overhead costs associated with maintaining specialized talent and the infrastructure required for its unique tax credit brokerage business.
The recent uptick in the efficiency ratio suggests that the bank may be experiencing a temporary drag on operating leverage as it scales its operations. Analysts should evaluate if this increased spending is a necessary investment for long-term fee income growth or a sign of diminishing returns on scale.
As indicated by the historical income statement figures, EFSC's non-interest income has exhibited significant volatility, swinging from negative values in 2025 to 25.4 million dollars in 2025Q4, highlighting the lumpy nature of its specialized tax credit brokerage revenue stream.
This reliance on transactional fee income introduces a layer of earnings unpredictability that is not present in traditional retail-focused regional banks. Investors should consider the potential for legislative changes to federal tax credit programs to materially impair this high-margin, yet sensitive, revenue component.
Based on reported figures, EFSC's provision for loan losses reached 7.2 million dollars in 2026Q1, reflecting a cautious approach to credit risk management within the current economic cycle and the bank's specific exposure to construction and commercial real estate lending.
The variability in provision expense suggests that the bank is actively adjusting its reserves to account for the risk profile of its expanding Southwest loan portfolio. Future credit costs may remain elevated if regional economic conditions in these newer markets deteriorate faster than anticipated.
Quick answers to the most common questions about buying EFSC stock.
Enterprise Financial Services Corp (EFSC) is profitable, generating $201.4M in net income for the fiscal year ending 2025 with a net profit margin of 22.1%.
Enterprise Financial Services Corp (EFSC) reported an operating income of $283.7M, resulting in an operating profit margin of 31.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Enterprise Financial Services Corp (EFSC) generated $624.4M in gross profit for the year, representing a gross profit margin of 68.4%. This demonstrates the company's core pricing power and production efficiency.