Enterprise Financial Services Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net interest income was $48,093,000 against $45,625,000 for the same period a year ago. Total interest income was $60,757,000 against $52,468,000 for the same period a year ago. Income before income tax expense was $24,318,000 against $24,171,000 for the same period a year ago. Net income was $22,516,000 against $16,315,000 for the same period a year ago. Diluted earnings per share were $0.97 compared to $0.69 a year ago. Return on average assets was 1.63% compared to 1.27% a year ago. Return on average common equity was 15.22% compared to 11.69% a year ago. Return on average tangible common equity was 19.42% compared to 15.23% a year ago. Core net interest income was $47,558,000 against $44,069,000 for the same period a year ago. Core income before income tax expense was $24,401,000 against $22,927,000 for the same period a year ago. Core net income was $20,029,000 against $15,536,000 for the same period a year ago. Core diluted earnings per share were $0.86 compared to $0.66 a year ago. Core return on average assets was 1.45% compared to 1.21% a year ago. Core return on average common equity was 13.54% compared to 11.13% a year ago. Core return on average tangible common equity was 17.28% compared to 14.50% a year ago.

For the nine months, the company reported net interest income was $141,312,000 against $129,900,000 for the same period a year ago. Total interest income was $173,800,000 against $147,750,000 for the same period a year ago. Income before income tax expense was $76,149,000 against $59,168,000 for the same period a year ago. Net income was $65,688,000 against $40,661,000 for the same period a year ago. Diluted earnings per share were $2.81 compared to $1.75 a year ago. Return on average assets was 1.62% compared to 1.11% a year ago. Return on average common equity was 15.41% compared to 10.37% a year ago. Return on average tangible common equity was 19.85% compared to 13.25% a year ago. Core net interest income was $139,720,000 against $124,685,000 for the same period a year ago. Core income before income tax expense was $71,515,000 against $60,553,000 for the same period a year ago. Core net income was $59,658,000 against $41,917,000 for the same period a year ago. Core diluted earnings per share were $2.56 compared to $1.81 a year ago. Core return on average assets was 1.47% compared to 1.14% a year ago. Core return on average common equity was 14.00% compared to 10.69% a year ago. Core return on average tangible common equity was 18.03% compared to 13.660% a year ago. Book value per common share was $25.41 against $23.69 year ago. Tangible book value per common share was $19.94 against $18.09 a year ago.

For the quarter, the company reported net charge-offs was $2,447,000 compared to $803,000 a year ago.

The company expects its effective tax rate for the remainder of 2018 and 2019 to be approximately 18% and 20%.