Enterprise Bank Finds Profit In Bad Loans

The FDIC seal | Photo courtesy of Creative Commons

Enterprise Bank & Trust is getting a boost from an unlikely source: Badly impaired loans that it acquired when it bought the assets of failed banks from the Federal Deposit Insurance Corp.

Enterprise’s profit increased to $33.4 million in 2012, up 10 percent from $30.3 million in 2011.

The bank logged the highest net interest margin (the difference between what banks charge for loans and pay for deposits) of 73 banks headquartered in St. Louis and tracked by the Federal Reserve Bank of St. Louis.

Read more in the St. Louis Business Journal

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