The Patent License Agreement permits customers to deposit checks with Esquire Bank using their mobile devices. "Today's announcement represents the Company's commitment to providing best-in-class innovation and service to our customers," said Martin Korn, the Bank's Senior Vice President and Chief Technology Officer. "This Patent License Agreement ensures that the Bank can deliver cutting-edge RDC solutions to our customers." Esquire Financial Holdings, Inc. is a bank holding company headquartered in Jerich ...

For six years in a row, Esquire Bank was recognized among the top 10% of community banks in the United States based on various profitability, operational efficiency, and balance sheet metrics. JERICHO, N.Y., May 20, 2024 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the "Company"), the holding company for Esquire Bank, National Association (collectively "Esquire"), has been awarded the 2023 Raymond James Community Bankers Cup for the sixth year in a row, which recognizes the top 10% commun ...

Esquire Financial Holdings, Inc. (ESQ) closed the last trading session at $48.78, gaining 8.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $62 indicates a 27.1% upside potential. The average comprises three short-term price targets ranging from a low of $60 to a high of $65, with a standard deviation of $2.65. While the lowest estimate indicates an increase of 23% from the curr ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-38131 Esquire Financial Holdings, Inc. (Exact Name of Registrant as Specified in Its Charter) Maryland 27-5107901 (State or ...

JERICHO, N.Y., May 6, 2024 /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 that it has been named to the 2024 Keefe, Bruyette & Woods' ("KBW") Bank Honor Roll. This elite group of banks comprise only 5% of the eligible firms nationally by delivering the strongest and/or most consistent earnings growth over the past decade.  "We are hono ...

Esquire Financial Holdings, Inc. (ESQ) closed the last trading session at $47.06, gaining 3.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $62 indicates a 31.8% upside potential.The average comprises three short-term price targets ranging from a low of $60 to a high of $65, with a standard deviation of $2.65. While the lowest estimate indicates an increase of 27.5% from the cur ...

JERICHO, N.Y., April 25, 2024 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the "Company"), the financial holding company for Esquire Bank, National Association ("Esquire Bank" or the "Bank"), today announced its regular quarterly dividend of $0.15 per share of common stock, payable on June 3, 2024, to each stockholder of record on May 15, 2024. About Esquire Financial Holdings, Inc. Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York, with on ...

For the quarter ended March 2024, Esquire Financial Holdings, Inc. (ESQ) reported revenue of $29.25 million, down 1% over the same period last year. EPS came in at $1.20, compared to $1.11 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $29.04 million, representing a surprise of +0.75%. The company delivered an EPS surprise of +1.69%, with the consensus EPS estimate being $1.18.While investors scrutinize revenue and earnings changes year-over-year and how they compar ...

Exhibit 99.1 ESQUIRE FINANCIAL HOLDINGS, INC. REPORTS FIRST QUARTER 2024 RESULTS Continued Growth in our National Platforms Drives Industry Leading Performance Metrics Jericho, NY – April 25, 2024 – 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 first quarter of 2024. Significant achievements and key performance metrics d ...

Financial Performance - Total assets increased to $1,616,876 thousand as of December 31, 2023, compared to $1,395,639 thousand in 2022, representing a growth of approximately 15.8%[344]. - Net income for the year ended December 31, 2023, was $41,011 thousand, up from $28,518 thousand in 2022, reflecting a year-over-year increase of about 43.8%[346]. - Interest income from loans held for investment rose to $81,188 thousand in 2023, a significant increase of 50.5% compared to $54,007 thousand in 2022[346]. - Noninterest income totaled $29,751 thousand in 2023, compared to $24,925 thousand in 2022, marking an increase of about 19.1%[346]. - Basic earnings per share increased to $5.31 in 2023 from $3.73 in 2022, representing a growth of approximately 42.3%[346]. - Total comprehensive income for 2023 was $42,893,000, compared to $14,251,000 in 2022, reflecting a significant improvement[347]. - Net cash provided by operating activities rose to $42,401,000 in 2023, up from $38,797,000 in 2022[351]. Loan Portfolio - The commercial real estate (CRE) loan portfolio comprises $89.5 million, representing 7.4% of total loans, while the multifamily loan portfolio totals $348.2 million, or 28.8% of total loans[74]. - The overall multifamily portfolio's weighted average debt service coverage ratio (DSCR) is 1.66, with a loan-to-value (LTV) ratio of 54%[79]. - Multifamily loans maturing in 2024 total $29.1 million, with a weighted average DSCR of approximately 1.46 and a weighted average LTV of 57%[79]. - The company has no exposure to office and construction loans, with minimal exposure to hospitality at $15.5 million as of December 31, 2023[74]. - The recorded investment in loans as of December 31, 2022, was $948,553,000, with no impaired loans reported[419]. - As of December 31, 2023, total loans held for investment amounted to $1,208,081 thousand, an increase from $948,553 thousand in 2022, representing a growth of approximately 27.4%[416]. - The total real estate loans increased to $455,676 thousand in 2023 from $379,891 thousand in 2022, reflecting a growth of about 19.9%[416]. Credit Losses and Risk Management - The allowance for credit losses increased to $16,631 thousand in 2023 from $12,223 thousand in 2022, indicating a rise of approximately 36.5%[344]. - The provision for credit losses was $4,525 thousand in 2023, compared to $3,490 thousand in 2022, reflecting an increase of about 29.7%[346]. - The company evaluates the adequacy of the allowance for credit losses on a quarterly basis, incorporating reasonable and supportable forecasts[368]. - The allowance for credit losses on loans was reported as $12,506 thousand under the CECL Standard, reflecting an increase of $283 thousand from pre-CECL adoption[402]. - The company categorizes loans into risk categories based on borrowers' ability to service their debt, with special mention loans indicating potential weaknesses[422]. - The company uses a defined process for analyzing loans individually, ensuring close attention to credit risk management[426]. Capital and Liquidity - The company maintained a common equity Tier 1 capital ratio of at least 4.5%, meeting federal minimum capital standards as of December 31, 2023[97]. - The company was classified as "well capitalized" under prompt corrective action requirements, indicating strong financial health[105]. - As of December 31, 2023, the company had $284.2 million of available borrowing capacity with the FHLB and $58.0 million with the FRB discount window, totaling $359.7 million in borrowing capacity[80]. - The company maintains a strong capital position, which is essential for compliance with banking regulations and supports dividend payments[356]. - The company had no outstanding FHLB or FRB borrowings as of December 31, 2023, maintaining a strong liquidity position[410][411]. Regulatory Compliance - The company is subject to extensive regulation and supervision by the OCC and the FRB, which could materially impact its operations and stockholders[88]. - The OCC has extensive enforcement authority over national banks, including the ability to issue cease and desist orders and assess civil money penalties[111]. - The company is not currently subject to consolidated holding company capital requirements due to its asset size being below the specified threshold[127]. - The company has elected to be a "financial holding company," allowing it to engage in a broader array of financial activities[128]. - The USA PATRIOT Act imposes obligations on financial institutions to establish anti-money laundering compliance programs[119]. Community Engagement and Diversity - The company supports community-based organizations through a comprehensive grant and lending program as part of its Community Reinvestment Act obligations[84]. - The company employed 140 full-time equivalent individuals, with approximately 60% being minorities or women, reflecting a commitment to diversity[81]. - The company emphasizes employee retention through competitive compensation and benefits packages, alongside a collaborative environment for training and development[82]. Tax and Deferred Tax Assets - Total current tax expense for 2023 was $17,422,000, an increase of 50.5% from $11,616,000 in 2022[442]. - The effective tax rate for 2023 was $14,871,000, compared to $10,283,000 in 2022, reflecting a 44.7% increase[442]. - Deferred tax assets totaled $13,045,000 in 2023, up from $11,260,000 in 2022, indicating a growth of 15.8%[443]. - The Company has determined that it is more likely than not that the deferred tax asset will be realized as of December 31, 2023[443]. Investments and Software - The company reported a total of $2.9 million in internal-use software assets as of December 31, 2023, down from $3.4 million in 2022, with related software amortization totaling $1.3 million for the year ended December 31, 2023[381]. - The company’s internal-use software costs are amortized over 3-5 years, reflecting a strategic investment in technology[381]. - The Company recognized a gain of $5,313 from its investment in Litify, Inc. after the reorganization and sale transaction in 2023[385]. - The Company has recorded a note receivable of $1.8 million as of December 31, 2023, related to its investment in Litify[385].