Esquire Financial公布二季度业绩，核心贷款和存款增长但财报惊喜不足

Continued Strong Commercial Loan & Core Deposit Growth Nationally; Signature Merger Closing Currently Scheduled for August 1, 2026
JERICHO, N.Y. , July 23, 2026 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the "Company"), the financial holding company for Esquire Bank, National Association ("Esquire Bank" or the "Bank"), (collectively "Esquire") today announced its operating results for the second quarter and year-to-date of 2026. Significant achievements and key performance metrics during the current quarter and year-to-date of 2026 include:
Net income increased 9.2% to $13.0 million, or $1.49 per diluted share, as compared to $11.9 million, or $1.38 per diluted share, for the comparable quarter in 2025 despite: (1) pretax merger expenses totaling $1.1 million related to our acquisition of Signature Bancorporation, Inc. (the parent company of Signature Bank in Chicago, collectively "Signature") and (2) an elevated provision for credit losses related to a multifamily nonaccrual loan and related charge-off. For the current quarter, adjusted (1)  net income and diluted earnings per share were $14.0 million and $1.60, respectively, excluding the previously noted pretax merger expenses of $1.1 million ($970 thousand, net of tax), representing an increase of 15.9%, or $0.22 per diluted share, as compared to the second quarter of 2025.

Consistent industry leading returns on average assets and equity of 2.09% and 17.06%, respectively, despite the $970 thousand in merger-related expenses, net of tax, previously noted, as well as our continued investment in current resources to support future growth and excellence in client service. For the current quarter, adjusted (1)  returns on average assets and equity were 2.25% and 18.33%, respectively.

Resilient net interest margin of 5.96% for the quarter ended June 30, 2026, driven by our national litigation platform growth, despite significant declines in short-term market interest rates from their highs in 2023. Our net interest margin was negatively impacted by approximately 10 basis points due to elevated average interest earning cash balances that were funded with core deposit growth. Total revenue increased $13.0 million, or 18.7%, to $82.6 million, for year-to-date 2026 when compared to the prior year period.

Loan growth on a linked quarter basis was $87.2 million, or 19% annualized, totaling $1.90 billion, despite payoffs totaling $76.1 million ($74.6 million in commercial loans) in the current quarter. Loan growth was primarily comprised of both commercial totaling $61.6 million ($72.6 million in litigation related or law firm loans) and commercial real estate totaling $25.6 million. Total loans grew $407.7 million, or 27.3%, (litigation related loans grew $376.5 million or 41.0%) when comparing the current quarter to the comparable quarter in 2025 while average total loans grew $414.5 million, or 28.3%, (litigation related loans grew $405.8 million or 46.1%) for the same period. These commercial relationships will continue to create additional opportunities for future loan growth (future draws on existing facilities and additional availability on renewed lines-of-credit) as well as future growth in core deposits through our full-service commercial relationship banking programs and commercial cash management platform on a national basis. To clearly demonstrate this point, law firms or litigation clients that have banked with Esquire for four years have a compounded annual growth rate on their loans and related commercial deposit balances of approximately 15% and 30%+, respectively.

Strong corresponding deposit growth on a linked quarter basis totaling $77.1 million, or 15% annualized, to $2.18 billion with a cost-of-funds of 1.03% (including demand deposits). Growth on a linked quarter basis was fueled by litigation related escrow or IOLTA deposits. Deposits grew $397.4 million, or 22.3%, when comparing the current quarter to the comparable quarter in 2025 while average total deposits grew $412.7 million, or 23.6%, for the same period. Off-balance sheet ("OBS") sweep funds totaled $1.03 billion, with approximately 38% available for additional on-balance sheet liquidity, while the associated administrative service payments ("ASP") fee income totaled $1.1 million for the current quarter. Additional available liquidity totaled approximately $523 million, excluding cash, OBS sweep funds, and unsecured borrowing capacity.

Solid credit metrics, asset quality, and reserve coverage ratios with an allowance for credit losses to loans ratio of 1.30%, two nonperforming loans totaling $5.1 million, and a nonperforming loans to total assets ratio of 0.20%. During the current quarter, a $4.4 million multifamily loan, net of a $1.6 million charge-off, that was reported as criticized in prior periods was placed on nonaccrual. This multifamily loan was made to the same sponsor as a former nonaccrual multifamily loan that was disposed of in the first quarter of 2026. We have no additional loan exposure to this sponsor.

Stable and consistent noninterest income in the current quarter totaling $6.4 million, or 15% of total revenue, led by our payment processing platform with 93,000 small business clients nationally. Our tech-enabled payments platform allowed us to perform commercial treasury clearing services for $10.6 billion in credit and debit card payment volume, a 4.3% increase from the comparable quarter in 2025, across 152.6 million transactions for our small business clients in all 50 states.

Strong efficiency ratio of 50.1% for the current quarter, notwithstanding our investments to support future growth, risk management and excellence in client service. Excluding the previously noted pretax merger costs totaling $1.1 million, the adjusted (1)  efficiency ratio was 47.6%.

Esquire has received all required regulatory approvals or waivers necessary to complete the previously announced acquisition of Signature, and the transaction is currently expected to close on August 1, 2026, pending satisfaction of customary closing conditions.

Key recognitions during the current quarter are: (1) named the #1 Best Law Firm Funding Provider in The Recorder's 2026 "Best Of" survey; (2) included in Keefe, Bruyette & Woods ("KBW") Bank Honor Roll for the third consecutive year for consistent and exceptional performance over the past decade; (3) ranked first overall in the 2025 Raymond James Community Bankers Cup as the top-performing community bank, representing the eighth consecutive year on their list; and (4) ranked among the top U.S. merchant acquirers by Nilson Report for the second consecutive year.

Strong capital foundation with common equity tier 1 ("CET1") and tangible common equity to tangible assets (2)  ("TCE/TA") ratios of 14.24% and 12.50%, respectively. The Bank remains well above the bank regulatory "Well Capitalized" standards.
"The timely closing of our Signature merger currently scheduled for August 1, 2026 will deliver enhanced value to all stakeholders while accelerating our growth in Chicago and the Midwest markets in the future," stated Tony Coelho, Chairman of the Board. "Chicago represents one of the top three largest metro markets by both population and number of contingent fee law firms with New York City and Los Angeles rounding out the top three metro markets."
"By deeply understanding and serving our key national verticals, we've established a strong culture and foundation for sustainable growth and continued industry leading performance metrics and returns," stated Andrew C. Sagliocca, Vice Chairman, Chief Executive Officer, and President. "The Signature merger serves to position the combined entity for continued growth and success in the highly desirable Midwest and Chicago metro markets with a well-established Chicago-based management team and brand."
(1)
See non-GAAP reconciliation provided at the end of this news release.

(2)
The Bank has no recorded intangible assets on