Parent Company Only Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014



	December 31,
(in thousands)	2014		2013
Assets
Cash	$	14,532	$	15,969
Investment in Enterprise Bank & Trust	344,995		318,721
Investment in Enterprise Financial CDE, LLC	772		425
Other assets	19,223		18,537
Total assets	$	379,522	$	353,652

Liabilities and Shareholders' Equity
Subordinated debentures	$	56,807	$	62,581
Notes payable	5,700		10,500
Accounts payable and other liabilities	774		866
Shareholders' equity	316,241		279,705
Total liabilities and shareholders' equity	$	379,522	$	353,652



	Years ended December 31,
(in thousands)	2014		2013		2012
Income:
Dividends from subsidiaries	$	10,000	$	10,000	$	15,000
Other	225		256		527
Total income	10,225		10,256		15,527

Expenses:
Interest expense-subordinated debentures	1,322		2,884		3,827
Interest expense-notes payable	193		396		64
Other expenses	4,402		5,142		5,462
Total expenses	5,917		8,422		9,353

Income before taxes and equity in undistributed earnings of subsidiaries	4,308		1,834		6,174

Income tax benefit	2,305		3,394		3,739

Net income before equity in undistributed earnings of subsidiaries	6,613		5,228		9,913

Equity in undistributed earnings of subsidiaries	20,560		27,876		18,383
Net income and comprehensive income	$	27,173	$	33,104	$	28,296



	Years Ended December 31,
(in thousands)	2014			2013			2012
Cash flows from operating activities:
Net income	$	27,173		$	33,104		$	28,296
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Share-based compensation	2,950			5,049			2,537
Net income of subsidiaries	(30,560		)	(37,876		)	(33,383		)
Dividends from subsidiaries	10,000			10,000			15,000
Excess tax expense of share-based compensation	(205		)	(222		)	(66		)
Other, net	704			2,004			2,064
Net cash provided (used) by operating activities	10,062			12,059			14,448

Cash flows from investing activities:
Purchases of other investments	(2,224		)	(761		)	(970		)
Proceeds from distributions on other investments	176			243			541
Net cash provided (used) by investing activities	(2,048		)	(518		)	(429		)

Cash flows from financing activities:
Proceeds from notes payable	—			—			12,000
Repayments of notes payable	(4,800		)	(1,200		)	(300		)
Debt issuance costs	—			—			(45		)
Cash dividends paid	(4,177		)	(3,947		)	(3,757		)
Excess tax benefit of share-based compensation	205			222			66
Payments for the repurchase of preferred stock	—			—			(35,000		)
Dividends paid on preferred stock	—			—			(1,711		)
Issuance of common stock	2			13			3
Common stock repurchased	—			(1,006		)	—
Proceeds from the issuance of equity instruments, net	(681		)	2,266			1,558
Net cash provided (used) by financing activities	(9,451		)	(3,652		)	(27,186		)

Net increase (decrease) in cash and cash equivalents	(1,437		)	7,889			(13,167		)
Cash and cash equivalents, beginning of year	15,969			8,080			21,247
Cash and cash equivalents, end of year	$	14,532		$	15,969		$	8,080