2024
Annual Report
A Year of Growth and Transformation
SINCE OUR EARLIEST DAYS,
ENTERPRISE BANK HAS BEEN
AN AVID PATRON AND
SUPPORTER OF THE ARTS.
We have always believed that supporting
the local creative economy is inextricably
linked to our mission of helping to create
vibrant, prosperous communities and
making them better places to live and work.
Through volunteerism, sponsorships, and
charitable donations, we have consistently
invested in and fostered local talent,
programs, and organizations. In our offices
and branches, we adorn the walls with pieces
commissioned through our community art
program—an initiative that dates back to our
founding through which we’ve purchased
over 1,000 original piece from well over
300 local artists—adding vibrancy to our
spaces and spotlighting artists who call
our communities home.
About the Cover
Featured on the cover of this report is a paint-stroke
design, a nod to our Bank’s longstanding commitment
to, and appreciation for, the arts. The dual parallel lines
represent our Enterprise and the communities we serve,
side by side in lock-step unity, a shared history between
us; the overlap and blending of the strokes symbolizing
the connections between us and the relationships
we’ve fostered.
Left
Red Square In
Abstract Landscape,
Jay Connolly
Below
Vineyard Flowers II,
Maryrose O’Connell
Above
Still Life And Sky,
Deirdre Grunwald
Right
In The Fall,
Laurie Simko
Buoys, Dr. Andrew Kusmin
Another defining factor of who we are and how far
we’ve come is our Bank leadership; a product of
effective succession planning that has always been
an integral part of our Bank’s business strategy.
Fostering talent from within and cultivating leaders
who possess not just the required industry knowledge,
but an understanding of what it means to be an
Enterprise Banker as well—knowing our communities,
understanding our customers, and sharing our
dedication to building relationships—has been crucial
to maintaining operational, brand, and cultural
stability through times of transition. This past year,
we saw our succession plan bear fruit time and
again as various veteran members of our team took
on new responsibilities as they advanced into more
senior roles. Their robust leadership training and
long tenures as Enterprise Bankers ensured seamless
business continuity.
1
It was a year of significant change at Enterprise
Bank. A year marked by strong financial performance,
succession planning in action, and defining decisions
about our path forward.
On January 3, 2024, our Bank celebrated its 35th
anniversary. Born of an entrepreneurial spirit, we’ve
come a long way since opening our doors at 222
Merrimack Street in 1989. Over those 35 years,
we opened 27 branches, made billions of dollars
in loans to local businesses and individuals, hired,
nurtured, and trained thousands of team members,
supported hundreds of charitable and nonprofit
organizations, volunteered hundreds of thousands
of hours in our communities, and recorded 141
consecutive profitable quarters.
Throughout our history, we’ve also continually
evolved and adapted to meet the ever-changing needs
and expectations of our customers, leveraging new
technologies, industry best practices, and ongoing
training for our team members. Each step in our
journey of evolution has sought to empower our
team members to better serve our customers and
communities, and to enhance the overall customer
experience. Throughout our growth and expansion,
and throughout every economic cycle, we have
remained true to our founding purpose: to help
create successful businesses, jobs, opportunities,
wealth, and vibrant communities.
2024 Financial Results
We have now recorded 141 consecutive profitable
quarters and have increased our annual dividend
for 33 consecutive years; our dividend has increased
every year since we began paying a dividend.
Financial results for 2024 include:
• Net income was $38.7 million;
• Total loans grew by 12% and amounted to
$3.98 billion at year end;
• Total customer deposits grew by 5% and
amounted to $4.19 billion at year end;
• Total assets ended 2024 at $4.83 billion,
an increase of 8%;
• Wealth assets under management and
administration ended 2024 at $1.54 billion,
an increase of 16%;
• Loan quality continued to be strong at
December 31, 2024 with non-performing
loans at 0.67% of total loans and net
charge-offs for the year at $206 thousand.
Additionally, the allowance for credit losses
was 1.59% of total loans.
Our People, Our Culture
Enterprise Bank would not be the successful and
well-respected institution it is today if not for our
amazing team members. The exceptional service and
care our customers enjoy, and the transformative
community impact our Bank has achieved, are
results of the hard work and dedication of our valued
team members. Each member of our Enterprise
family embodies the values we stand for, serving
with integrity and a sincere commitment to their
customers and communities. They are the heart and
soul of who we are as a bank.
To Our Shareholders,
In March, Michael Gallagher, our Chief Risk Officer
(CRO), retired after 21 years of service to Enterprise
Bank. In alignment with our succession plan, Meaghan
Lally-McGurl, an 18-year Enterprise team member
who had been serving as our Chief Information
Security Officer, was selected to succeed Mike as
our CRO.
Talent, however, cannot come solely from within.
In order to foster an environment of diverse ideas,
perspectives, and experiences, it is imperative that
we balance internal development with fresh outside
expertise. Therefore, last April, we welcomed David
Lynch, formerly of Cambridge Trust, to lead Enterprise
Wealth Management as Managing Director and
Chief Investment Officer. Along with extensive
industry experience gained at top financial and
banking institutions, David has brought a wealth of
new insights and knowledge to our Bank, challenging
our existing processes and augmenting the value we
can provide, enabling us to better serve our clients.
2
After a remarkable 36-year career at Enterprise
Bank, including 17 as our Chief Executive Officer,
Jack Clancy retired in June. A lifelong resident of
the Greater Lowell area, Jack joined Enterprise Bank
during its founding in 1988 as Chief Financial Officer
and Treasurer. He came aboard as Enterprise Bank’s
second employee and was instrumental in helping
grow our Enterprise from a single location in
downtown Lowell to 27 branches in Massachusetts
and New Hampshire. Steve Larochelle, our Chief
Banking Officer (CBO), 28-year Enterprise Banker,
and a 40-year banking veteran, was chosen to
succeed Jack as our CEO. Susan Covey, who
served as our Branch Administration Director,
was promoted to CBO.
In October, Stephen Irish retired as Chief Operating
Officer (COO). One of our earliest team members,
his career spanned an era of rapid technological
evolution, and he was instrumental in leading our
Bank from its earliest days to becoming the institution
it is today. Brian Collins, who joined us 25 years
ago as a management trainee, and who had served
as our Chief Digital and Operations Officer, was
promoted to the COO role.
Festive Lowell, Tom Gill
Girl Dancing, Will Winslow
Spaulding House, Mark Romanowsky
George L. Duncan
Chairman
Richard W. Main
President
Steven R. Larochelle
Chief Executive Officer
Our Communities
As reflected in our purpose statement, Enterprise Bank
is committed to making a positive difference in the
lives of the individuals, businesses, and communities
we so passionately serve. We endeavor to play an
active role in making every community in which we
operate a better place to live and work.
Being a true community bank means that the
communities we operate in and serve are extensions
of our Bank—their success is our success, and vice
versa. Our team members live and immerse themselves
within our communities, volunteering, serving on
nonprofit boards, attending local events, and fostering
meaningful relationships. ‘Community bank’ is more
than just a label we define ourselves by; it’s a promise
to every community that welcomes us—one that
our bankers live, breathe, and strive towards every
single day.
In 2024, our team members collectively volunteered
more than 28,000 hours within our communities. In
addition, 195 team members serve on 275 boards and
committees with 94 team members serving on more
than one board or committee. As a bank, we made
more than $1.5 million in charitable contributions to
local nonprofits and causes, supporting the important
work they do in service of our shared communities.
We were honored to be recognized once again by
the Boston Business Journal as a top contributor both
philanthropically and in volunteerism, in September
during their Corporate Citizens awards program.
Our Future
Since opening our doors, Enterprise Bank has been
devoted to relationship-driven growth and service.
Over the past year, we continued to invest in that
commitment with ongoing customer experience
training throughout our branch network, the remodeling
of two branch locations to create more welcoming
and consultative spaces, and the rollout of various
new technology deployments and updates to better
support our team members and serve our customers.
The performance we recorded in 2024 is a testament
to the value of our people-focused banking approach
and our continuous efforts to adapt and evolve.
Much has changed in our industry since 1989:
regulatory compliance costs have risen, the importance
of investing in technology is at an all-time high,
the threat of a downturn in the credit cycle is
ever-present, and competitive risk has steadily
increased.
With all of this in mind, and with a strong fiduciary
responsibility at heart, our Board of Directors
decided it was an appropriate time to consider
merging the Bank with a larger institution. Rockland
Trust’s reputation, values, track record of success,
and compelling offer made them the best match for
our team members, customers, communities, and
stakeholders. Subject to shareholder and regulatory
approval, we expect the merger with Rockland Trust
to be completed in the second half of 2025.
While this is likely the last annual report we will
issue as Enterprise Bank, we will move forward with
the values we have embraced and lived by as we
continue our work with Rockland Trust.
3
Rocky Coast, Carlton Plummer
With deep gratitude,
2024 FINANCIAL HIGHLIGHTS
Operating Results
• Net income of $38.7 million, or $3.12 per
diluted share for 2024, versus $38.1 million,
or $3.11 per diluted share for 2023
• ROA of 0.82%, and ROE of 11.27%
Loans
• Loans of $3.98 billion at December 31, 2024,
an increase of 12% versus December 31, 2023
• Loan to deposit ratio of 95%
• Loan to asset ratio of 83%
Capital
• Paid a dividend of $0.96 per share
• Total capital to risk weighted assets ratio
of 13.06% at December 31, 2024
Deposits
• Deposits of $4.19 billion at December 31, 2024,
an increase of 5% versus December 31, 2023
Asset Quality
• Nonperforming loans to total loans of
0.67% at December 31, 2024
• Net charge-offs of $206 thousand
Liquidity
• $83.8 million in cash and equivalents at
year end
• Approximately $970 million in available
borrowing capacity at the FHLB/FRB at
December 31, 2024
COMPOUND ANNUAL GROWTH RATES THROUGH 12/31/24
This growth has been entirely organic.
ITEM
LAST FIVE YEARS
LAST TEN YEARS
LAST FIFTEEN YEARS
LAST TWENTY YEARS
Assets
8%
9%
9%
9%
Loans Outstanding
9%
9%
9%
10%
Customer Deposits
8%
10%
9%
9%
Net Income
3%
10%
11%
9%
4
5
Selected Financial Data and Ratios
Year Ended December 31
2024
2023
2022
2021
2020
BALANCE SHEET DATA
(dollars in thousands, except per share data)
Total cash and cash equivalents
$
83,841
$
56,592
$
267,589
$
436,576
$
253,782
Total investment securities at fair value
593,595
668,171
820,371
958,215
583,049
Total loans (1)
3,982,898
3,567,631
3,180,518
2,920,684
3,073,860
Allowance for credit losses
63,498
58,995
52,640
47,704
44,565
Total assets
4,827,726
4,466,034
4,438,333
4,447,819
4,014,324
Total deposits
4,187,698
3,977,521
4,035,806
3,980,239
3,551,263
Subordinated debt
59,815
59,498
59,182
58,979
73,744
Total shareholders’ equity
360,748
329,117
282,267
346,895
334,426
Total liabilities and shareholders’ equity
4,827,726
4,466,034
4,438,333
4,447,819
4,014,324
WEALTH MANAGEMENT
Wealth assets under management (2)
$
1,230,014
$
1,077,761
$
891,451
$
1,041,409
$
976,502
Wealth assets under administration (2)
$
305,930
$
242,338
$
198,586
$
257,867
$
210,900
SHAREHOLDERS’ EQUITY RATIOS
Book value per common share
$
28.98
$
26.82
$
23.26
$
28.82
$
28.01
Dividends paid per common share
$
0.96
$
0.92
$
0.82
$
0.74
$
0.70
REGULATORY CAPITAL RATIOS
Total capital to risk weighted assets
13.06%
13.12%
13.49%
13.73%
14.62%
Tier 1 capital to risk weighted assets (3)
10.38%
10.34%
10.56%
10.62%
10.77%
Tier 1 capital to average assets
8.94%
8.74%
8.10%
7.56%
7.52%
CREDIT QUALITY DATA
Non-performing loans
$
26,687
$
11,414
$
6,122
$
26,522
$
38,050
Non-performing loans to total loans
0.67%
0.32%
0.19%
0.91%
1.24%
Non-performing assets to total assets
0.55%
0.26%
0.14%
0.60%
0.95%
ACL for loans to total loans
1.59%
1.65%
1.66%
1.63%
1.45%
Net charge-offs
$
206
$
105
$
239
$
3,964
$
1,548
INCOME STATEMENT DATA
Net interest income
$
147,864
$
153,084
$
151,798
$
141,556
$
130,134
Provision for credit losses
1,985
9,249
5,800
1,770
12,499
Total non-interest income
22,879
17,609
18,462
18,107
17,247
Total non-interest expense
117,132
110,199
108,314
102,135
93,254
Income before income taxes
51,626
51,245
56,146
55,758
41,628
Provision for income taxes
12,893
13,187
13,430
13,587
10,172
Net income
$
38,733
$
38,058
$
42,716
$
42,171
$
31,456
INCOME STATEMENT RATIOS
Diluted earnings per common share
$
3.12
$
3.11
$
3.52
$
3.50
$
2.64
Return on average total assets
0.82%
0.85%
0.96%
0.98%
0.82%
Return on average shareholders’ equity
11.27%
12.48%
14.47%
12.49%
9.95%
Net interest margin (tax-equivalent) (4)
3.23%
3.51%
3.54%
3.44%
3.59%
(1) Balance includes PPP loans of $2.2 million, $71.5 million and $443.1 million at December 31,2022, 2021 and 2020, respectively.
(2) Wealth assets under management and wealth assets under administration are not carried as assets on the Company’s Consolidated Balance Sheet. Please refer to the Company’s Form 10-K for more information.
(3) Ratio also represents common equity tier 1 capital to risk-weighted assets as of the periods presented.
(4) Tax-equivalent net interest margin is net interest income adjusted for the tax-equivalent effect associated with tax-exempt loan and investment income, expressed as a percentage of average interest-earning assets.
COMMUNITY IS
EVERYTHING
COMMUNITY INVOLVEMENT IS LIKE ART—EACH ACT OF SERVICE
ADDS A UNIQUE BRUSHSTROKE, CREATING A MASTERPIECE OF
CONNECTION, SUPPORT, AND SHARED PURPOSE.
• Enterprise Bank team members volunteered more than 28,000 hours.
• As a bank, we made more than $1.5 million in charitable contributions.
• 195 team members serve on 275 boards and committees with 94 team members
serving on more than one board or committee.
6
OUR FOOTPRINT AND ROCKLAND TRUST’S FOOTPRINT COME TOGETHER LIKE
BRUSHSTROKES ON A CANVAS, COMPLEMENTING EACH OTHER.
With minimal geographic overlap, there are no plans to close any branches. The proposed merger will
create a branch network of more than 150 locations, providing enhanced convenience for our customers.
Rockland Trust (126)
Enterprise Bank (27)
7
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This communication may contain forward-looking statements, including, but not limited to, certain plans,
expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans,
objectives, expectations and intentions of Independent Bank Corp. (“Independent”) and Enterprise, the
expected timing of completion of the proposed transaction, and other statements that are not historical
facts. Such statements reflect the current views of Independent and Enterprise Bancorp, Inc. (“Enterprise”)
with respect to future events and financial performance, and are subject to numerous assumptions, risks,
and uncertainties. Statements that do not describe historical or current facts, including statements about
beliefs, expectations, plans, predictions, forecasts, objectives, assumptions or future events or performance,
are forward-looking statements. Forward-looking statements often, but not always, may be identified by
words such as expect, anticipate, believe, intend, potential, estimate, plan, target, goal, or similar words
or expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar
variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private
Securities Litigation Reform Act of 1995.
Independent and Enterprise caution that the forward-looking statements in this communication are not
guarantees of future performance and involve a number of known and unknown risks, uncertainties and
assumptions that are difficult to assess and are subject to change based on factors which are, in many
instances, beyond Independent’s and Enterprise’s control. While there is no assurance that any list of risks
and uncertainties or risk factors is complete, below are certain factors which could cause actual results to
differ materially from those contained or implied in the forward-looking statements: (1) changes in general
economic, political, or industry conditions; (2) uncertainty in U.S. fiscal and monetary policy, including
the interest rate policies of the Federal Reserve Board; (3) volatility and disruptions in global capital and
credit markets; (4) movements in interest rates; (5) the resurgence of elevated levels of inflation or infla
tionary pressures in the United States and the Enterprise and Independent market areas; (6) increased
competition in the markets of Independent and Enterprise; (7) success, impact, and timing of business
strategies of Independent and Enterprise; (8) the nature, extent, timing, and results of governmental actions,
examinations, reviews, reforms, regulations, and interpretations; (9) the expected impact of the proposed
transaction between Enterprise and Independent on the combined entities’ operations, financial condition,
and financial results; (10) the failure to obtain necessary regulatory approvals (and the risk that such
approvals may result in the imposition of conditions that could adversely affect the combined company
or the expected benefits of the proposed transaction); (11) the failure to obtain Enterprise shareholder
approval or to satisfy any of the other conditions to the proposed transaction on a timely basis or at
all or other delays in completing the proposed transaction; (12) the occurrence of any event, change or
other circumstances that could give rise to the right of one or both of the parties to terminate the merger
agreement; (13) the outcome of any legal proceedings that may be instituted against Independent or
Enterprise; (14) the possibility that the anticipated benefits of the proposed transaction are not realized
when expected or at all, including as a result of the impact of, or problems arising from, the integration
of the two companies or as a result of the strength of the economy and competitive factors in the areas
where Independent and Enterprise do business; (15) the possibility that the proposed transaction may be
more expensive to complete than anticipated, including as a result of unexpected factors or events; (16)
diversion of management’s attention from ongoing business operations and opportunities; (17) potential
adverse reactions or changes to business or employee relationships, including those resulting from the
announcement or completion of the proposed transaction; (18) the dilution caused by Independent’s
issuance of additional shares of its capital stock in connection with the proposed transaction; (19) cyber
incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure,
or those of our third-party vendors or other service providers, including as a result of cyber-attacks; and
(20) other factors that may affect the future results of Independent and Enterprise.
Additional factors that could cause results to differ materially from those described above can be found
in Independent’s Annual Report on Form 10-K for the year ended December 31, 2024, including in the
respective “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results
of Operations” sections of such report, as well as in subsequent SEC filings, each of which is on file with
the U.S. Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section
of Independent’s website, www.rocklandtrust.com, under the heading “SEC Filings” and in other documents
Independent files with the SEC, and in Enterprise’s Annual Report on Form 10-K for the year ended
December 31, 2024, including in the respective “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” sections of such reports, as well as in subsequent SEC
filings, each of which is on file with and available in the “Investor Relations” section of Enterprise’s website,
enterprisebancorp.q4ir.com, under the heading “SEC Filings” and in other documents Enterprise files with
the SEC.
All forward-looking statements speak only as of the date they are made and are based on information
available at that time. Neither Independent nor Enterprise assumes any obligation to update forward-
looking statements to reflect circumstances or events that occur after the date the forward-looking
statements were made or to reflect the occurrence of unanticipated events except as required by applicable
law. As forward-looking statements involve significant risks and uncertainties, caution should be exercised
against placing undue reliance on such statements. All forward-looking statements, express or implied,
included in the document are qualified in their entirety by this cautionary statement.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This communication is being made with respect to the proposed transaction involving Independent and
Enterprise. This material is not a solicitation of any vote or approval of the Enterprise shareholders and
is not a substitute for the proxy statement/prospectus or any other documents that Independent and
Enterprise may send to their respective shareholders in connection with the proposed transaction. This
communication does not constitute an offer to sell or the solicitation of an offer to buy any securities,
nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
In connection with the proposed transaction between Independent and Enterprise, Independent has filed
with the SEC a Registration Statement on Form S-4 (the “Registration Statement”) that includes a proxy
statement for a special meeting of Enterprise’s shareholders to approve the proposed transaction and
that also constitutes a prospectus for the Independent common stock that will be issued in the proposed
transaction, as well as other relevant documents concerning the proposed transaction. BEFORE MAKING
ANY VOTING OR INVESTMENT DECISIONS, INVESTORS AND SHAREHOLDERS OF INDEPENDENT
AND ENTERPRISE ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY
STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE
DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Enterprise has mailed the
proxy statement/prospectus to its shareholders. Shareholders are also urged to carefully review and consider
Independent’s and Enterprise’s public filings with the SEC, including, but not limited to, their respective
proxy statements, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports
on Form 8-K. Copies of the Registration Statement and of the proxy statement/prospectus and other filings
incorporated by reference therein, as well as other filings containing information about Independent and
Enterprise, can be obtained, free of charge, as they become available at the SEC’s website (http://www.sec.
gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request
to Independent Investor Relations, 288 Union Street, Rockland, Massachusetts 02370, telephone
(774) 363-9872 or to Enterprise Bancorp, Inc., 222 Merrimack Street, Lowell, MA 01852, Attention:
Corporate Secretary, telephone (978) 656-5578.
PARTICIPANTS IN THE SOLICITATION
Independent, Enterprise, and certain of their respective directors, executive officers and employees may,
under the SEC’s rules, be deemed to be participants in the solicitation of proxies from the shareholders
of Enterprise in connection with the proposed transaction. Information regarding Independent’s directors
and executive officers is available in its definitive proxy statement relating to its 2024 Annual Meeting
of Shareholders, which was filed with the SEC on March 28, 2024, and its Annual Report on Form 10-K
for the year ended December 31, 2024, which was filed with the SEC on February 28, 2025, and other
documents filed by Independent with the SEC. Information regarding Enterprise’s directors and executive
officers is available in its definitive proxy statement relating to its 2024 Annual Meeting of Shareholders,
which was filed with the SEC on April 3, 2024, and its Annual Report on Form 10-K for the year ended
December 31, 2024, which was filed with the SEC on March 7, 2025 and other documents filed by Enterprise
with the SEC. Other information regarding the persons who may, under the SEC’s rules, be deemed to
be participants in the proxy solicitation of Enterprise’s shareholders in connection with the proposed
transaction, and a description of their direct and indirect interests, by security holdings or otherwise, will
be contained in the proxy statement/prospectus regarding the proposed transaction and other relevant
materials filed with the SEC when they become available, which may be obtained free of charge as described
in the preceding paragraph.
8
George L. Duncan
Founder and Chairman of the Board
James F. Conway III
Vice Chairman and Lead Director of the Board
Former President, Chief Executive Officer
and Chairman, Courier Corporation
John A. Koutsos
Secretary of the Board
President, Alec’s Shoe Store, Inc.
Kenneth S. Ansin
President, Ansin Consulting Group
Gino J. Baroni
Owner and Managing Principal,
Trident Project Advantage Group
John R. Clementi
Chief Executive Officer, Longview Development, LLC
Former President, Plastican, Inc.
Dr. Carole A. Cowan
Former President, Middlesex Community College
Normand E. Deschene
Former Chief Executive Officer,
Wellforce
John T. Grady, Jr.
Senior Advisor, G2 Capital Advisors
Mary Jane King
President, Conway Management Company
Steven R. Larochelle
Chief Executive Officer,
Enterprise Bank
Joseph C. Lerner
Managing Partner, 819 Energy, LLC
Richard W. Main
President, Enterprise Bank
Dr. Jacqueline F. Moloney
Professor and Chancellor Emerita,
University of Massachusetts Lowell
Michael T. Putziger
Chairman, WinnCompanies
Carol L. Reid
Former Corporate Controller and
Chief Accounting Officer, Avid Technology, Inc.
Nickolas Stavropoulos
Former President and Chief Operating Officer,
Pacific Gas and Electric Company
General Counsel
Gallagher & Cavanaugh LLP
SEC & Regulatory Counsel
Hunton Andrews Kurth LLP
Financial Consultant
Raymond L. Anstiss, Jr., CPA
Advisor to the
Enterprise Wealth Management Committee
Marcia S. Wagner, Esquire
Honorary Board Members
Jack P. Clancy, Jr.
Nancy L. Donahue
Lucy A. Flynn
Eric W. Hanson
John P. Harrington
Arnold S. Lerner
Shelagh E. Mahoney
Luis M. Pedroso
Investor Relations
Enterprise Bancorp, Inc.
222 Merrimack Street, Lowell, MA 01852
978-459-9000 • shareholders@ebtc.com
Transfer Agent and Registrar
Shareholders who have questions regarding their
ownership of Enterprise Bancorp, Inc. stock should
contact our transfer agent:
Computershare Investor Services
PO Box 43006, Providence, RI 02940-3006
888-218-4390
Enterprise Bancorp, Inc. and Enterprise Bank
BOARD OF DIRECTORS
002CSNF69E
info@ebtc.com • EnterpriseBanking.com
The common stock of Enterprise Bancorp, Inc. is traded on the NASDAQ Stock Market under the symbol “EBTC”.
Rialto On Upper Central Street,
Vassilios (Bill) Giavis
A Woman Looking Out A Window,
Bernard Petruzziello
Prince’s Bookstore,
Janet Lambert-Moore
Magnolia Still Life with Mirror
& Drape,
Meredith Fife Day
Blue And
Red Panels,
Dan Rocha