Enterprise Bank NJ

Headquarters

490 Boulevard
Kenilworth, NJ 07033
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Enterprise Bank NJ is an FDIC insured institution located in Kenilworth, NJ. It was founded in 2002 and has approximately $0.28 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 57055
Date Established 2002
Assets $ 276.86 million
Loans $ 262.39 million
Deposits $ 192.22 million
Capital $ 32.58 million
 

For a more detailed analysis of Enterprise Bank NJ's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 20, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 20, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Enterprise Bank NJ

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,118 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to Enterprise Bank NJ
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Branches

Enterprise Bank NJ branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Enterprise Bank NJ Locations


Financial Details

Enterprise Bank NJ Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Enterprise Bank NJ. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Enterprise Bank NJ U.S. Bank Average
7.25% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Enterprise Bank NJ had $1,335,000 in non-current loans and $1,250,000 in owned real estate. To cover these potential losses it had $32,581,000 in equity and $3,051,000 in loans loss reserves. That gives it a Texas Ratio of 7.25%.

Return on Equity
Enterprise Bank NJ U.S. Bank Average
9.57% 7.80%

Enterprise Bank NJ has a Return on Equity of 9.57% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Enterprise Bank NJ U.S. Bank Average
11.77% 12.68%

Enterprise Bank NJ has a Capitalization of 11.77% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Enterprise Bank NJ Balance Sheet Analysis

As of September 30, 2018, Enterprise Bank NJ had assets of $276,857,000, loans of $262,386,000, and deposits of $192,223,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 5.51 million
Interest-bearing balances $ 2.96 million
Total securities $ 2.42 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 262.39 million
Loan loss allowance $ 3.05 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.25 million
Goodwill and other intangibles N.A.
All other assets $ 4.85 million
     Total Assets $ 244.28 million
LIABILITIES
Total deposits $ 192.22 million
      Interest-bearing deposits $ 160.60 million
      Deposits held in domestic offices $ 192.22 million
      % insured (estimated) 78.33%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 50.76 million
Subordinated debt N.A.
All other liabilities $ 1.30 million
      Total Liabilities $ 244.28 million
      Shareholders’ Equity $ 32.58 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 9.47 million
Total Interest Expense $ 2.09 million
Net interest income $ 7.39 million
Provision for loan and lease losses $ 0.48 million
Total non interest income $ 0.17 million
Total non interest expense $ 4.00 million
Pre-tax Net Operating Income $ 3.07 million

Bank Loan Profile?

The top three loan types in Enterprise Bank NJ’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Multifamily Mortgages.

Compared to other banks in New Jersey, Enterprise Bank NJ has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 12.44
Multifamily
Mortgages
14.62
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 26.36
Commercial Real Estate 43.88
Commercial and Industrial Loans 3.96
Farm Loans 0.00

Frequently Asked Questions About Enterprise Bank Nj

Branches and Savings

Is Enterprise Bank Nj FDIC insured?

Yes. It is covered under FDIC Certificate #57055.

Why does Enterprise Bank Nj pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Enterprise Bank Nj CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Enterprise Bank Nj a commercial bank?

Yes

Where are Enterprise Bank Nj locations?

See branch locations nearby.

Is Enterprise Bank Nj open on Saturdays?

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Are Enterprise Bank Nj ATMs Open 24/7?

Do Enterprise Bank Nj ATMs accept cash deposits?

Can Enterprise Bank Nj customers use other ATMs?

Do Enterprise Bank Nj branches have notaries?

Will Enterprise Bank Nj notarize my document?

What address for Enterprise Bank Nj should I put for incoming ACH transfers?

Will the Enterprise Bank Nj branch print checks?

Do Enterprise Bank Nj checks expire?

Does Enterprise Bank Nj require US citizenship to open account?

Can Enterprise Bank Nj close my account?

Does Enterprise Bank Nj Report to credit bureaus?

Does Enterprise Bank Nj Use Equifax?

What is Enterprise Bank Nj's ACH Routing Number?

What is Enterprise Bank Nj's SWIFT code?

Products

Does Enterprise Bank Nj offer mortgages?

Compare mortgage rates here.

Does Enterprise Bank Nj offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Enterprise Bank Nj offer personal loans?

Compare personal loan rates here.

Does Enterprise Bank Nj offer student loans?

Will Enterprise Bank Nj cash a check?

Will Enterprise Bank Nj redeem a savings bond?

Does Enterprise Bank Nj cash savings bonds?

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Can Enterprise Bank Nj issue a money order?

Does Enterprise Bank Nj do currency exchange?

Background on The Bank

Who owns Enterprise Bank Nj?

How long has Enterprise Bank Nj been around?

Can Enterprise Bank Nj transfer to other banks?

Does Enterprise Bank Nj have quick pay?

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Will Enterprise Bank Nj accept loose change?

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