Esquire Financial Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
ESQ$131.84-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(Dollars in thousands)
| | | | | | |
|---|---|---|---|---|---|
| | Nine Months Ended | ||||
| | September 30, | ||||
| · 2024 · 2023 | |||||
| Cash flows from operating activities: | | | | | |
| Net income | $31,905 | | $31,129 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
| Provision for credit losses | | 3,000 | | | 3,025 |
| Depreciation and amortization of premises and equipment | | 622 | | | 529 |
| Stock compensation expense | | 2,862 | | | 2,379 |
| Net gain on equity investments | | — | | | (4,013) |
| Net amortization (accretion): | | | | | |
| Securities | | 272 | | | 331 |
| Loans | | (437) | | | (1,054) |
| Right of use asset | | 422 | | | 428 |
| Software | | 1,422 | | | 944 |
| Changes in other assets and liabilities: | | | | | |
| Accrued interest receivable | | (582) | | | (2,040) |
| Other assets | | (11,244) | | | (9,897) |
| Operating lease liability | | (535) | | | (452) |
| Accrued expenses and other liabilities | | 2,820 | | | 4,569 |
| Net cash provided by operating activities | | 30,527 | | | 25,878 |
| Cash flows from investing activities: | | | | | |
| Net change in loans | | (89,773) | | | (165,009) |
| Net change in securities purchased under agreements to resell | | — | | | 49,567 |
| Purchases of securities available-for-sale | | (102,701) | | | (17,879) |
| Purchases of securities held-to-maturity | | — | | | (5,978) |
| Principal repayments on securities available-for-sale | | 17,175 | | | 9,370 |
| Principal repayments on securities held-to-maturity | | 6,130 | | | 5,500 |
| Purchases of securities, restricted | | (106) | | | (118) |
| Proceeds from equity investment | | 1,467 | | | 5,973 |
| Purchase of equity investment | | (3,524) | | | — |
| Purchases of premises and equipment | | (630) | | | (328) |
| Development of capitalized software | | (1,741) | | | (1,884) |
| Net cash used in investing activities | | (173,703) | | | (120,786) |
| Cash flows from financing activities: | | | | | |
| Net increase in deposits | | 129,096 | | | 54,357 |
| Decrease in borrowings | | (1) | | | (1) |
| Exercise of stock options, net of repurchases | | 361 | | | 103 |
| Tax withholding payments for vested equity awards | | (299) | | | (153) |
| Cash dividends paid to common stockholders | | (3,527) | | | (2,588) |
| Purchase of common stock | | — | | | (286) |
| Net cash provided by financing activities | | 125,630 | | | 51,432 |
| Decrease in cash and cash equivalents | | (17,546) | | | (43,476) |
| Cash and cash equivalents at beginning of the period | | 165,209 | | | 164,122 |
| Cash and cash equivalents at end of the period | $147,663 | | $120,646 | ||
| | | | | | |
| Supplemental disclosures of cash flow information: | | | | | |
| Cash paid during the period for: | | | | | |
| Interest | $9,554 | | $5,181 | ||
| Taxes | | 13,352 | | | 13,865 |
| Noncash transactions: | | | | | |
| Dividends declared but not paid | | 205 | | | 280 |
| Exchange of noncash instruments | | (300) | | | 1,750 |
| Cumulative change in accounting principle | | — | | | (568) |
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