ENTERPRISE BANCORP INC /MA/

Overview

• IndustryState Commercial Banks¹
• HeadquartersLowell, Massachusetts¹
• Incorporated inMA²
• Business address222 Merrimack St, Lowell, Ma 01852²
• Filer categoryAccelerated filer²

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The acronyms and abbreviations defined in the table below are provided to aid the reader when reviewing this Form 10-K:⁴ From its latest annual report

Corporate structure

ENTERPRISE BANCORP INC /MA/ sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ENTERPRISE BANCORP INC /MA/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Properties, in its own words

The Company's main office and operational support offices are located in Lowell, Massachusetts. The Lowell campus consists of four closely situated buildings, three of which are owned and the fourth is under a 40-year lease, with ample on-site customer parking. The Company also owns and maintains a back-up operations/data facility in the Merrimack Valley region of Massachusetts. As of December 31, 2024, the Company had 27 full-service branch banking offices serving the Northern Middlesex, Northern Essex and Northern Worcester counties of Massachusetts, and Southern Hillsborough and Southern Rockingham counties in New Hampshire.

The Company believes that all of its facilities are well maintained and suitable for the purpose for which they are used.

Item 2 of the 10-K filed Mar 7, 2025.⁴

Leadership

Who has led ENTERPRISE BANCORP INC /MA/, and when. Pick a name to see everywhere that person has worked.

• Chief executive officerSteven R. Larochelle Jun 7, 2024 to now¹⁴
• Chief executive officerJohn P. Clancy Jr. Mar 9, 2007 to Jun 7, 2024¹⁵
• Chief executive officerGeorge L. Duncan Feb 14, 2006 to Feb 14, 2007¹⁶
• ChairGeorge L. Duncan Mar 9, 2007 to now¹⁷
• PresidentRichard W. Main Feb 8, 2007 to now¹⁸
• Chief financial officerJoseph R. Lussier Feb 27, 2024 to now¹⁹
• Chief financial officerJames A. Marcotte Mar 9, 2007 to Jul 22, 2019²⁰

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• EBTC NMTC Investment Fund - CHC, LLC Delaware³
• Enterprise Bank and Trust Company Massachusetts³
• Enterprise Security Corporation Massachusetts³
• Enterprise Security Corporation (II) Massachusetts³
• Enterprise Security Corporation (III) Massachusetts³
• Enterprise Wealth Services LLC Delaware³

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

1. Jul 1, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights⁶¹
2. Jun 4, 20258-K Other events⁶²
3. May 7, 20258-K Shareholder vote⁶³
4. Apr 17, 20258-K Results of operations⁶⁴
5. Apr 15, 20258-K Other events⁶⁵
6. Apr 4, 20258-K Shareholder vote⁶⁶
7. Mar 25, 20258-K Other events⁶⁷
8. Mar 24, 20258-K Executive or director change⁶⁸
9. Jan 28, 20258-K Results of operations⁶⁹
10. Jan 21, 20258-K Other events⁷⁰
11. Dec 20, 20248-K Executive or director change⁷¹
12. Dec 12, 20248-K Executive or director change; Other events⁷²
13. Jun 7, 2024New chief executive Steven R. Larochelle becomes CEO¹⁴
14. Mar 9, 2007New chief executive John P. Clancy Jr. becomes CEO¹⁵
15. Feb 14, 2006New chief executive George L. Duncan becomes CEO¹⁶

Calendar

When it reported results

1. Apr 17, 2025Reported quarterly or annual results⁶⁴
2. Jan 28, 2025Reported quarterly or annual results⁶⁹
3. Oct 22, 2024Reported quarterly or annual results⁷³
4. Jul 23, 2024Reported quarterly or annual results⁷⁴
5. Apr 23, 2024Reported quarterly or annual results⁷⁵
6. Jan 25, 2024Reported quarterly or annual results⁷⁶
7. Oct 24, 2023Reported quarterly or annual results⁷⁷
8. Jul 25, 2023Reported quarterly or annual results⁷⁸

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

497 filings to the SEC since October 2021: 4 annual reports, 11 quarterly reports, 55 major events, 354 insider forms, 8 large holders, 65 other. The latest 20:

1. Jul 11, 202515-12G EDGAR
2. Jul 9, 202513F-NT EDGAR
3. Jul 1, 2025EFFECT EDGAR
4. Jul 1, 2025EFFECT EDGAR
5. Jul 1, 202525-NSE EDGAR
6. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
7. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
8. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
9. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
10. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
11. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
12. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
13. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
14. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
15. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
16. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
17. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
18. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
19. Jul 1, 20254 PRIMARY DOCUMENT EDGAR
20. Jul 1, 20254 PRIMARY DOCUMENT EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

36 open-market trades by officers, directors and large owners since October 2021: 20 buys and 16 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• BlackRockSC 13G/A, 2 filings Oct 22, 2024 to Nov 8, 2024⁷⁹
• Ken S. AnsinSC 13D/A, 2 filings Dec 8, 2023 to Feb 29, 2024⁸⁰

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

SEC filer profile

How ENTERPRISE BANCORP INC /MA/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARENTERPRISE BANCORP INC /MA/¹
• CIK0001018399
• Employer ID (EIN)04-3308902⁴
• Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company⁴
• Incorporated inMassachusetts⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)6022 State Commercial Banks¹
• SEC reviewing officeOffice of Finance, Division of Corporation Finance¹
• Business address222 Merrimack St, Lowell, MA 01852¹
• Phone9784599000¹
• Shares outstanding12,508,386 as of Apr 30, 2025¹²
• Public float$244.8M as of Jun 30, 2024⁴
• AuditorRSM US LLP, Boston, Massachusetts PCAOB ID 49; it also attests to the company’s internal control over financial reporting⁴
• On EDGAR sinceJul 16, 1996¹
• Filings2,142 in all: 4 (1,412), 8-K (309), 10-Q (79), 5 (39), 3 (33), DEF 14A (29), 13F-NT (26), 4/A (26)¹
  All 48 form types

  10-K (24), 425 (23), ARS (15), FWP (12), EFFECT (11), S-8 (9), 10QSB (8), CORRESP (8), S-3 (8), UPLOAD (8), 8-K/A (6), PRE 14A (6), S-3/A (6), S-3D (4), S-8 POS (4), SC 13G/A (4), 10-K405 (2), 10KSB (2), 3/A (2), 424B5 (2), 8-A12B/A (2), 8-A12G (2), DEFA14A (2), POS AM (2), SC 13G (2), 10KSB/A (1), 10KSB40 (1), 144 (1), 15-12G (1), 25-NSE (1), 424B3 (1), 8-A12B (1), D (1), DEFM14A (1), PRER14A (1), S-4 (1), S-4/A (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13G/A (1)

• Latest filingsAnnual report (10-K) Mar 7, 2025
  Quarterly report (10-Q) May 6, 2025
  Proxy statement (DEF 14A) Apr 1, 2025
  Latest 8-K (8-K) Jul 1, 2025

Securities registered for trading

From the cover page of the 10-K filed Mar 7, 2025 (Section 12(b) of the Exchange Act).⁴

Risk factors and legal proceedings

The risks ENTERPRISE BANCORP INC /MA/ names in Item 1A of its 10-K filed Mar 7, 2025: 44 risks under these headings, as written.⁴

• RISK MANAGEMENT CONTROLS
• Risk Management Controls and Procedures Could Fail or Be Circumvented
• RISKS RELATED TO THE MERGER
• Because the market price of Independent common stock will fluctuate, Enterprise shareholders cannot be sure of the trading price of the stock portion of the Merger Consideration they will receive.
• The market price of Independent common stock after the Merger may be affected by factors different from those currently affecting the shares of Enterprise common stock or Independent common stock.
• Enterprise will be subject to business uncertainties and contractual restrictions while the Merger is pending.
• Independent may fail to realize all of the anticipated benefits of the Merger, particularly if the integration of Independent’s and Enterprise’s businesses is more difficult than expected.
• Independent may be unable to retain Independent and/or Enterprise personnel successfully after the Merger is completed.
• Independent and Enterprise are expected to incur significant costs related to the Merger and integration.
• The Merger Agreement limits Enterprise’s ability to pursue alternatives to the Merger.
• Regulatory approvals may not be received, may take longer to receive than expected or may impose burdensome conditions that are not presently anticipated.
• Failure to complete the Merger could negatively impact the future business and financial results of Enterprise.

Legal proceedings

There are no material pending legal proceedings to which the Company or its subsidiaries are a party or to which any of its property is subject, other than ordinary routine litigation incidental to the business of the Company. Management does not believe resolution of any present litigation will have a material adverse effect on the business, consolidated financial condition or results of operations of the Company.

The opening of Item 3, Legal Proceedings.⁴