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Company Description

Contact Info

222 Merrimack Street

Lowell, MA 01852

United States

Phone: 978-459-9000


Enterprise Bancorp, Inc. operates as the holding company for Enterprise Bank and Trust Company, referred to as Enterprise Bank. The bank’s wholly owned subsidiaries are as follows: Enterprise Insurance Services, LLC, organized for the purpose of engaging in insurance sales activities; and Enterprise Investment Services, LLC, organized in the state of Delaware for the purpose of offering non-deposit investment products and services, under the name of ‘Enterprise Investment Services’. Market Area The company’s primary market area is the Merrimack Valley and north central regions of Massachusetts and southern New Hampshire. It has 20 full service branch banking offices located in the Massachusetts cities and towns of Acton, Andover, Billerica, Chelmsford, Dracut, Fitchburg, Leominster, Lowell, Methuen, Tewksbury, Tyngsboro and Westford; and in the New Hampshire towns of Derry, Hudson, Pelham and Salem, which serve those cities and towns as well as the surrounding communities. Products and Services The company principally is engaged in the business of attracting deposits from the general public and investing in loans and investment securities. It offers a range of commercial and consumer loan products, deposit and cash management products, investment advisory and wealth management, trust and insurance services. Lending Products The company specializes in lending to business entities, non-profit organizations, professionals and individuals. Loans made to businesses include commercial mortgage loans, construction and land development loans, secured and unsecured commercial loans and lines of credit, and standby letters of credit. The company also originates equipment lease financing for businesses. Loans made to individuals include conventional residential mortgage loans, home equity loans and lines, residential construction loans on primary and secondary residences, and secured and unsecured personal loans and lines of credit. Commercial Real Estate, Commercial and Industrial, and Commercial Construction Loans: Commercial real estate loans include loans secured by both owner-use and non-owner occupied real estate. These loans are secured by various commercial and industrial property types, including one-to-four family and multi-family apartment buildings, office or mixed-use facilities, strip shopping centers, or other commercial properties, and are guaranteed by the principals of the borrower. Commercial real estate loans have repayment periods of approximately 15 to 25 years. Commercial and industrial loans include seasonal revolving lines of credit, working capital loans, equipment financing (including equipment leases), and term loans. Also included in commercial and industrial loans are loans partially guaranteed by the Small Business Administration (SBA), and loans under various programs issued in conjunction with the Massachusetts Development Finance Agency and other agencies. Commercial and industrial loans have average repayment periods of one to seven years. Commercial construction loans include the development of residential housing and condominium projects, the development of commercial and industrial use property, and loans for the purchase and improvement of raw land. These loans are secured in whole or in part by the underlying real estate collateral and are generally guaranteed by the principals of the borrowers. Standby letters of credit are conditional commitments issued by the company to guarantee the financial obligation or performance by a customer to a third party. Residential Loans: The company originates conventional mortgage loans on one-to-four family residential properties. These properties serve as the borrower’s primary residence, or be vacation homes or investment properties. In addition, financing is provided for the construction of owner occupied primary and secondary residences. Residential mortgage loans have terms of up to 30 years at either fixed or adjustable rates of interest. Home Equity Loans and Lines of Credit: Home equity term loans are originated for one-to-four family residential properties with maximum combined loan to value ratios up to 80% of the


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