Endeavor Bancorp Reports Pretax Income of $1.3 million for the Third Quarter of 2024; Results Highlighted by Record Loan Growth and Net Interest Margin Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 21 2024
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Source: Newsfilter
Financial Performance: Endeavor Bancorp reported a net income of $924,000 for Q3 2024, showing an increase from the previous quarter but a decrease compared to the same quarter last year. The bank experienced strong loan growth and improved net interest margin despite rising interest expenses and provisions for credit losses.
Balance Sheet Growth: Total assets increased by 10.4% to $655.3 million, with total loans outstanding rising by 11.4% during the quarter. The bank's deposits also grew significantly, reflecting a robust financial position and effective management strategies in a challenging high-interest rate environment.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
