In This Article:
JERICHO, N.Y., Nov. 7, 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 its inclusion on Fortune's annual 100 Fastest-Growing Companies list. Esquire was one of only four commercial banks to make the list, ranking No. 55 among all companies based on revenue growth, earnings per share growth and three-year annualized return to shareholders for the period ending on June 30, 2024.
Fortune's 2024 list features global companies across a diverse range of industries—from industrials and energy to technology and finance—collectively valued at $6.7 trillion in market capitalization. On average, these companies delivered an annual return of 28% to shareholders over the past three years, significantly outperforming the S&P 500 index's 10% annual return during the same period.
"We are honored to be recognized by Fortune for our industry-leading growth and performance," said Andrew C. Sagliocca, Vice Chairman, CEO, and President. "We remain focused on serving two vast, disruption-ready national markets—the $443 billion litigation and $10 trillion small business payment processing verticals—with tailored financial solutions that help our clients meet their unique business and growth objectives. This recognition underscores the value and efficacy of our unique business model, producing best-in-class performance and returns that benefit all our stakeholders."
Esquire's inclusion in this ranking comes amid a period of strong financial performance and targeted investments for future growth. The Company recently announced third quarter earnings, highlighting robust returns on assets (2.62%) and equity (20.29%). With an industry-leading net interest margin of 6.16%, Esquire continues to outperform its peers across various profitability and performance metrics. Additionally, the Company has diversified its revenue streams through substantial fee-based income, driven by its merchant processing or payments platform, processing $9.2 billion in credit and debit card volume for 84,000 small business clients nationally in the most recent quarter.
Despite its notable growth and performance, Esquire represents only a small segment of both national markets, positioning the Company for continued growth opportunities in these underserved national markets. As part of its strategic expansion, Esquire recently announced plans to establish a full service private banking branch in Los Angeles, California, one of Esquire's top markets outside of the New York metro area.