Enterprise Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. Net income for the three months ended December 31, 2013 amounted to $3.5 million, an increase of $250,000 or 8%, compared to the same three-month period in 2012 of $3.2 million. Diluted earnings per share were $0.35 for the three months ended December 31, 2013, an increase of 6% compared to the same period in 2012 of $0.33. Net interest income for the three months ended December 31, 2013 amounted to $17.2 million, an increase of $1.3 million, or 8%, compared to the same period in 2012 of $15.9 million. Income before income taxes was $5.1 million against $4.8 million of prior year period.

The company announced that net income for the year ended December 31, 2013 amounted to $13.5 million, an increase of $1.2 million, or 9%, compared to 2012 net income of $12.4 million. Diluted earnings per share were $1.36 for the year ended December 31, 2013, an increase of 6% compared to 2012 of $1.28. In 2013, financial results included increases in net interest income, non-interest income, operating expenses and the provision for loan losses over the prior year, due primarily to the company's growth. Net interest income for the year ended December 31, 2013 amounted to $65.8 million, an increase of $3.9 million, or 6%, compared to the same period in 2012 of $61.9 million. This increase in net interest income was due primarily to revenue generated from loan growth, mainly in commercial real estate loans, partially offset by a decrease in tax equivalent net interest margin ("margin"). Income before income taxes was $20.5 million against $18.7 million of prior year period. Return on average total assets and return on average stockholders' equity were 0.78% and 9.32% against 0.78% and 9.27% of prior year.