EXHIBIT 99

Contact Info:  Mary Ellen Fitzpatrick (978) 656-5520

Senior Vice President, Corporate Communications

Enterprise Bancorp, Inc. Announces 2007 Second Quarter Financial Results and Quarterly Dividend

LOWELL, Mass—(BUSINESS WIRE)—Jul. 17, 2007—Enterprise Bancorp, Inc. (the “company”) (NASDAQ:EBTC) announced net income of $2.318 million for the quarter ended June 30, 2007 compared to $2.182 million during the quarter ended June 30, 2006, an increase of 6%.  Diluted earnings per share were $0.29 for the second quarter compared to $0.28 for the same period in 2006, an increase of 4%.

Net income for the six months ended June 30, 2007 amounted to $4.540 million compared to $4.238 million for the same period in 2006, an increase of 7%.  Diluted earnings per share were $0.58 for the six months ended June 30, 2007 compared to $0.54 for the same period in 2006, an increase of 7%.

The company also announced a quarterly dividend of $0.08 to be paid on September 4, 2007 to shareholders of record as of August 14, 2007. The quarterly dividend represents a 14% increase over the 2006 dividend rate.

Year-to-date net income growth resulted primarily from an increase in non-interest income and a decrease in the provision for loan losses, partially offset by an increase in non-interest expense and a decrease in net interest income.

Net interest income for the six months ended June 30, 2007 amounted to $20.1 million compared to $20.5 million for the same period in 2006, a decrease of 2%. Net interest margin, the spread earned between interest-earning assets and the company’s funding sources, primarily deposits, was 4.55% for the six months ended June 30, 2007, compared to 4.81% for the same period in 2006. Net interest margin for the quarter ended June 30, 2007 was 4.51%  compared to 4.59%  and 4.83% for the quarters ended March 31, 2007 and June 30, 2006, respectively. The decrease in margin resulted from both the flat yield curve and a highly-competitive marketplace.

Non-interest income was $4.6 million for the six months ended June 30, 2007, an increase of $1.3 million or 40% over the same period in 2006.  The growth resulted primarily from an increase of $487 thousand in gains on security sales, which occurred mainly in the second quarter, and from increases of $329 thousand in investment advisory fees, $214 thousand in bank-owned life insurance income and $200 thousand in deposit-service fees.

Non-interest expense amounted to $17.5 million for the six months ended June 30, 2007 compared to $16.5 million for the same period in 2006, an increase of 6%.  The increases were predominantly in occupancy and compensation-related costs which support the company’s growth.

The provision for loan losses, which is impacted by asset quality and loan growth, amounted to $135 thousand for the six months ended June 30, 2007 compared to $517 thousand for the same period in 2006, a decrease of $382 thousand. The reduced provision reflects continued favorable asset quality. The allowance for loan losses to total loans ratio was 1.65% at June 30, 2007 compared to 1.70% at December 31, 2006.

Key Financial Highlights

·Total assets were $1.044 billion at June 30, 2007 as compared to $979.3 million at December 31, 2006, an increase of 7%.

·Total loans increased 4% since December 31, 2006, amounting to $794.6 million at June 30, 2007.

·Total deposits, excluding brokered deposits, were $818.8 million at June 30, 2007 and $802.6 million at December 31, 2006, an increase of 2%.   Brokered deposits amounted to $120.1 million and $64.9 million on those respective dates.

·Investment assets under management increased to $528.3 million at June 30, 2007 compared to $502.1 million at December 31, 2006, an increase of 5%.

·Total assets under management amounted to $1.592 billion at June 30, 2007 as compared to $1.503 billion at December 31, 2006, an increase of 6%.

George L. Duncan, Chairman of Enterprise Bancorp, Inc. summarized the June 30, 2007 results by stating, “The flat rate environment and highly-competitive marketplace continue to negatively impact margins and challenge earnings growth across the banking industry in 2007.  In light of this challenging environment, we are very pleased to report year to date 2007 net income growth of 7%. Furthermore, it is gratifying to report that our growth exceeded the $1 billion in assets milestone for the first time. We view this as a significant achievement and one that positions us well for the future.”

John P. Clancy, Jr., Chief Executive Officer, added, “We remain focused on investing in our future and maintaining our commitment to a long-term strategy of geographic expansion and commercial banking growth, delivered by a highly-skilled management team and a well-trained, service-orientated employee base.”

Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all of its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank. The company principally is engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities.  Through the bank and its subsidiaries, the company offers a range of commercial and consumer loan and deposit products as well as investment management, trust and insurance services. The company’s headquarters and the bank’s main office are located at 222 Merrimack Street in Lowell, Massachusetts. The company’s primary market area is the Merrimack Valley, North Central region of Massachusetts and South Central New Hampshire.  The company has fourteen full-service branch banking offices located in the Massachusetts cities and towns of Lowell, Andover, Billerica, Chelmsford, Dracut, Fitchburg, Leominster, Tewksbury, and Westford, and in Salem, New Hampshire, which serve those cities and towns as well as the surrounding communities.  The Company plans to open a new branch facility in the city of Methuen, Massachusetts in early 2008.

The above text contains statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements may be identified by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “will,” “should,” and other expressions that predict or indicate future events or trends and which do not relate to historical matters.  Forward-looking statements should not be relied on, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the company.  These risks, uncertainties and other factors may cause the actual results, performance and achievements of the company to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements.  Factors that could cause such differences include, but are not limited to general economic conditions, changes in interest rates, regulatory considerations and competition.  For more information about these factors, please see our most recent Annual Report on Form 10-K on file with the SEC, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”  Any forward-looking statements contained in this press release are made as of the date hereof, and we undertake no duty, and specifically disclaim any duty, to update or revise any such statements, whether as a result of new information, future events or otherwise.

ENTERPRISE BANCORP, INC.

Consolidated Statements of Income

Three and six months ended June 30, 2007 and 2006

(unaudited)

	Three Months Ended June 30,					Six Months Ended June 30,
(Dollars in thousands, except per share data)	2007		2006			2007		2006
Interest and dividend income:
Loans	$	14,571	$	13,329		$	28,840	$	25,811
Investment securities	1,367		1,482			2,688		3,048
Short-term investments	35		67			66		160
Total interest and dividend income	15,973		14,878			31,594		29,019
Interest expense:
Deposits	5,447		3,984			10,505		7,299
Borrowed funds	173		190			406		631
Junior subordinated debentures	295		295			589		589
Total interest expense	5,915		4,469			11,500		8,519
Net interest income	10,058		10,409			20,094		20,500
Provision for loan losses	52		244			135		517
Net interest income after provision for loan losses	10,006		10,165			19,959		19,983
Non-interest income:
Investment advisory fees	817		637			1,595		1,266
Deposit service fees	523		412			1,027		827
Bank-owned life insurance	148		41			296		82
Net gains/(losses) on sales of investment securities	425		(39		)	478		(9		)
Gains on sales of loans	59		34			99		78
Other income	543		505			1,098		1,027
Total non-interest income	2,515		1,590			4,593		3,271
Non-interest expense:
Salaries and employee benefits	5,307		5,007			10,642		10,129
Occupancy expenses	1,735		1,511			3,353		2,935
Audit, legal and other professional fees	496		303			792		625
Advertising and public relations	295		384			557		629
Supplies and postage	249		176			482		401
Investment advisory and custodial expenses	129		116			252		234
Other operating expenses	753		759			1,406		1,521
Total non-interest expense	8,964		8,256			17,484		16,474
Income before income taxes	3,557		3,499			7,068		6,780
Income tax expense	1,239		1,317			2,528		2,542
Net income	$	2,318	$	2,182		$	4,540	$	4,238
Basic earnings per share	$	0.30	$	0.29		$	0.58	$	0.56
Diluted earnings per share	$	0.29	$	0.28		$	0.58	$	0.54
Basic weighted average common shares outstanding	7,797,414		7,637,860			7,772,836		7,620,871
Diluted weighted average common shares outstanding	7,897,422		7,797,892			7,888,515		7,796,826

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ENTERPRISE BANCORP, INC.

Consolidated Balance Sheets

(unaudited)

	June 30,			December 31,		June 30,
(Dollars in thousands)	2007			2006		2006
Assets
Cash and cash equivalents:
Cash and due from banks	$	44,081		$	35,583	$	36,154
Short-term investments	29,388			15,304		32,638
Total cash and cash equivalents	73,469			50,887		68,792
Investment securities at fair value	137,449			131,540		145,507
Loans, less allowance for loan losses of $13,117 at June 30, 2007, $12,940 at December 31, 2006, and $12,486 at June 30, 2006	781,528			748,173		720,280
Premises and equipment	15,707			16,015		12,985
Accrued interest receivable	5,590			5,464		5,131
Deferred income taxes, net	7,119			6,861		6,937
Bank-owned life insurance	12,483			12,212		13,829
Prepaid expenses and other assets	5,021			1,976		2,315
Income taxes receivable	—			—		811
Core deposit intangible, net of amortization	409			475		542
Goodwill	5,656			5,656		5,656
Total assets	$	1,044,431		$	979,259	$	982,785
Liabilities and Stockholders’ Equity
Liabilities
Deposits	$	938,881		$	867,522	$	890,479
Borrowed funds	5,413			15,105		4,044
Junior subordinated debentures	10,825			10,825		10,825
Accrued expenses and other liabilities	4,791			6,567		4,786
Income taxes payable	100			92		—
Accrued interest payable	3,101			2,105		1,842
Total liabilities	963,111			902,216		911,976
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued	—			—		—
Common stock $0.01 par value per share; 20,000,000 shares authorized; 7,839,424, 7,722,288 and 7,685,030 shares issued and outstanding at June 30, 2007, December 31, 2006 and June 30, 2006, respectively	78			77		77
Additional paid-in capital	27,101			25,806		25,128
Retained earnings	54,425			51,127		47,206
Accumulated other comprehensive (loss) / income	(284		)	33		(1,602		)
Total stockholders’ equity	81,320			77,043		70,809
Total liabilities and stockholders’ equity	$	1,044,431		$	979,259	$	982,785

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ENTERPRISE BANCORP, INC.

Selected Consolidated Financial Data and Ratios

(unaudited)

	At or for the			At or for the			At or for the
	six months			year			six months
	ended			ended			ended
	June 30,			December 31,			June 30,
(Dollars in thousands, except per share data)	2007			2006			2006
Balance Sheet Items:
Total assets	$	1,044,431		$	979,259		$	982,785
Loans serviced for others	19,738			21,659			22,608
Investment assets under management	528,284			502,059			440,861
Total assets under management	$	1,592,453		$	1,502,977		$	1,446,254
Book value per share	$	10.37		$	9.98		$	9.21
Dividends per common share	$	0.16		$	0.28		$	0.14
Total capital to risk weighted assets	11.28		%	11.37		%	11.03		%
Tier 1 capital to risk weighted assets	9.97		%	10.08		%	9.76		%
Tier 1 capital to average assets	8.81		%	8.47		%	8.26		%
Allowance for loan losses to total loans	1.65		%	1.70		%	1.70		%
Non-performing loans to total loans	0.38		%	0.24		%	0.27		%
Income Statement Items (annualized):
Return on average assets	0.94		%	0.98		%	0.92		%
Return on average stockholders’ equity	11.55		%	12.89		%	12.31		%
Net interest margin (tax equivalent)	4.55		%	4.78		%	4.81		%

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