Enterprise Financial Services Corp (NASDAQ:EFSC) Q3 2023 Earnings Call Transcript

The quarter would have looked a lot different on a pre-provision and on an operating revenue basis. But that’s life, and that’ll come back to us over time.

Brian Martin: And last one, if I could sneak it, and maybe just for Scott. The utilization in the quarter was down a lot. I guess, do you expect that to continue to trend a bit lower? Does that feel like we’re kind of getting to a bottom? Just wondering what you think on the utilization side relative to your comments on – Jim’s comments on loan growth, kind of still feeling comfortable pretty healthy loan growth?

Scott Goodman: Yes, I agree. I think it’s more of just how existing clients are opting to use their existing cash. I don’t think it’s going to be an ongoing pressure point. I think if you just look historically, it’s kind of up and down, but within a pretty narrow range of 2% or 3%. So I think it’s just a function of what happened this quarter. I don’t think it’s going to impair the business long-term.

Brian Martin: Got it. Okay. Thanks, Scott. I appreciate the color guys.

Operator: There are no further questions at this time. I will now turn the call over to Jim Lally for closing remarks.

James Lally: Well, thank you, and thank you, everybody, for joining us this morning. And thank you for your interest in our company. And we look forward to speaking to you again, like it will be first part of 2025. Have a great day.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.