Enterprise Financial Services Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total interest income of $52,468,000 against $37,293,000 for the same period a year ago. Net interest income was $45,625,000 against $33,830,000 for the same period a year ago. Income before income tax expense was $24,171,000 against $18,148,000 for the same period a year ago. Net income was $16,315,000 or $0.69 per diluted share against $11,832,000 or $0.59 per diluted share for the same period a year ago. Total core revenue was $52,419,000 against $38,362,000 for the same period a year ago. Core income before income tax expense was $22,927,000 against $15,082,000 for the same period a year ago. Core net income was $15,536,000 or $0.66 per diluted share against $9,940,000 or $0.49 per diluted share for the same period a year ago. Return on average assets was 1.27% against 1.23% for the same period a year ago. Return on average common equity was 11.69% against 12.46% for the same period a year ago. Non-GAAP return on average assets was 1.21% against 1.04% for the same period a year ago. Non-GAAP return on average common equity was 11.13% against 10.47% for the same period a year ago. Core net interest income was $44,491,000 compared to $31,967,000 a year ago. Return on average tangible common equity was 15.23% compared to 13.64% a year ago. Non-GAAP return on average tangible common equity was 14.50% against 11.46% for the same period a year ago.

For the nine months, the company reported total interest income of $147,750,000 against $109,786,000 for the same period a year ago. Net interest income was $129,900,000 against $100,041,000 for the same period a year ago. Income before income tax expense was $59,168,000 against $54,158,000 for the same period a year ago. Net income was $40,661,000 or $1.75 per diluted share against $35,209,000 or $1.74 per diluted share for the same period a year ago. Book value per common share was $23.69 as at September 30, 2017 against $19.07 as at September 30, 2016. Total core revenue was $147,945,000 against $110,278,000 for the same period a year ago. Core income before income tax expense was $60,553,000 against $44,568,000 for the same period a year ago. Core net income was $41,917,000 or $1.81 per diluted share against $29,292,000 or $1.45 per diluted share for the same period a year ago. Return on average assets was 1.11% against 1.26% for the same period a year ago. Return on average common equity was 10.37% against 12.83% for the same period a year ago. Non-GAAP return on average assets was 1.14% against 1.05% for the same period a year ago. Non-GAAP return on average common equity was 10.69% against 10.67% for the same period a year ago. Core net interest income was $126,075,000 compared to $92,676,000 a year ago. Return on average tangible common equity was 13.25% compared to 14.10% a year ago. Non-GAAP return on average tangible common equity was 13.66% against 11.73% for the same period a year ago.

The company reported net charge-offs of $803,000 for the third quarter of 2017 against $1,038,000 for the same period a year ago.

The company expects that in the fourth quarter tax rate will be probably end up somewhere around 32%,

In 2018, tax rate is going to be up there a little bit, 33%, 34%. Company is working hard to manage the tax rate down or relatively stable with increasing pretax. So up a couple of basis points sequentially and then in the 33% to 34% range next year with expectations for growth and earnings, be in pretty good shape.