Enterprise Financial Services in St. Louis reported lower quarterly earnings on a narrower net interest margin.
The $3.2 billion-asset company's net income fell 3% from a year earlier, to $8.2 million, or 41 cents a share.
Net interest income fell 16%, to $27.4 million. Total loans increased by 1.4%, to $2.3 billion, but the net interest margin compressed by 96 basis points, to 3.75%. The company had a $1.8 million reversal of its loan-loss provision during the third quarter.
Noninterest income rose 34%, to $2.7 million. Noninterest expenses fell 0.6%, to $21 million.