Enterprise Finl Svcs Corp - EFSC STOCK NEWS

Enterprise Bank & Trust has signed an agreement to acquire twelve banking offices from First Interstate Bank, expanding its presence in Arizona and Kansas. The strategic acquisition includes:

• 10 branches in Arizona (including locations in Scottsdale, Chandler, Maricopa, and Tucson)
• 2 branches in Kansas (Overland Park and Shawnee)
• Approximately $740 million in deposits
• About $200 million in commercial loans

The deal is expected to close by early Q4 2025. Post-acquisition, Enterprise will strengthen its market position with:

• 12 full-service branches in Arizona with $1.3 billion in deposits
• 9 full-service branches in Kansas City area with $1.1 billion in deposits

James B. Lally, CEO of Enterprise, highlighted this as a strategic opportunity to expand in markets with growth potential. The transaction aims to enhance customer access and continue Enterprise's business-oriented, relationship-driven banking approach.

Enterprise Bank & Trust has signed an agreement to acquire twelve banking offices from First Interstate Bank in a strategic expansion across Arizona and Kansas. The deal includes ten branches in Arizona and two in Kansas, with the transfer of approximately $740 million in deposits and $200 million in commercial loans.

The acquisition will significantly boost Enterprise's market presence:

• In Arizona: Expansion to 12 full-service branches with $1.3 billion in deposits
• In Kansas City area: Increase to 9 full-service locations with $1.1 billion in deposits

The transaction is expected to close by early fourth quarter of 2025, pending regulatory approval. The deal includes branches in prime locations such as North Scottsdale, Chandler, Tucson, and Overland Park. Both banks emphasize this move aligns with their customer-centric and relationship-driven values, with Enterprise focusing on ensuring a seamless transition while First Interstate aims to redirect capital investment toward higher market share areas.

Enterprise Financial Services reported strong Q1 2025 results with net income of $50.0 million, or $1.31 per diluted share, up from $1.28 in the previous quarter. Key performance metrics include:

• Net interest margin increased to 4.15%
• Net interest income rose to $147.5 million
• Total loans reached $11.3 billion
• Total deposits stood at $13.0 billion

The company announced plans to acquire 12 branches from First Interstate Bank (10 in Arizona, 2 in Kansas). Notable achievements include a 14.02% return on average tangible common equity and increased quarterly dividend to $0.30 per share. The bank maintained strong capital positions with a common equity tier 1 ratio of 12.4%. Asset quality metrics showed an allowance for credit losses of 1.27%, while the loan-to-deposit ratio remained healthy at 87%.

Enterprise Financial Services Corp (EFSC) has announced its upcoming first quarter 2025 financial results release, scheduled for Monday, April 28, 2025. The company will host a conference call and webcast the following day, Tuesday, April 29, 2025, at 10:00 a.m. CT.

EFSC, with approximately $15.6 billion in assets, operates through its subsidiary Enterprise Bank & Trust across multiple states including Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico. The bank provides business and personal banking services, along with wealth management services through Enterprise Trust.

Participants can pre-register for the conference call, and the presentation materials will be available on the company's investor relations website. A replay of the call will be accessible for at least two weeks following the conference.

Enterprise Financial Services Corp (EFSC) announced that four directors will not seek re-election at the 2025 Annual Meeting of Stockholders: Robert E. Guest Jr., James M. Havel, Daniel A. Rodriguez, and Eloise E. Schmitz.

Guest, serving since 2002, has been instrumental in the company's growth, particularly as Risk Committee Chair since 2019, guiding EFSC through its $10 billion asset threshold transition. Havel (director since 2014) contributed his financial expertise to the Audit and Risk committees. Rodriguez (Company director since 2022, Bank director since 2016) provided valuable operations and technology insights. Schmitz (Company director since 2017) leveraged her financial services experience across multiple committees.

Board Chairperson Mike DeCola emphasized this change aligns with the company's strategic governance planning and acknowledged the directors' contributions to EFSC's growth and success.

Enterprise Financial Services Corp (EFSC) reported Q4 2024 net income of $48.8 million ($1.28 per diluted share), compared to $1.32 in Q3 and $1.16 in Q4 2023. Full-year 2024 net income was $185.3 million ($4.83 per diluted share), versus $5.07 in 2023.

Key Q4 metrics include net interest income of $146.4 million (up $2.9 million quarterly), net interest margin of 4.13% (down 4 basis points), total loans of $11.2 billion (up 5% annualized), and total deposits of $13.1 billion (up $681.2 million). The company maintained strong asset quality with nonperforming assets at 0.30% of total assets.

The Board approved a quarterly dividend increase of $0.01 to $0.29 per share and repurchased 206,529 shares in Q4. The company completed a core system conversion and expanded its operational capabilities in 2024.

Enterprise Financial Services Corp (EFSC) has announced it will release its fourth quarter 2024 financial results on Monday, January 27, 2025, followed by a conference call and webcast on Tuesday, January 28, 2025 at 10:00 a.m. CT.

Participants can pre-register for the conference call through a provided link, receiving a passcode and PIN for immediate access. The call will also be accessible by telephone at 1-800-715-9871 with Conference ID 35973. A webcast will be available through the company's Investor Relations webpage, along with the press release and presentation slides. A recorded replay will be accessible for at least two weeks after the call.

EFSC, with approximately $15.0 billion in assets, operates through its subsidiary Enterprise Bank & Trust across Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico, offering business and personal banking services, and wealth management solutions.

Enterprise Financial Services Corp (EFSC) has appointed Michael E. Finn as director of both the company and its subsidiary, Enterprise Bank & Trust. Board Chairman Michael A. DeCola highlighted Finn's extensive financial services industry knowledge, risk management expertise, and regulatory compliance experience as valuable additions to the board's skillset. The appointment is effective immediately and is expected to contribute to the company's strategic planning and shareholder value creation efforts.

Enterprise Financial (EFSC) reported its Q3 2024 results, showing significant growth. Net income reached $50.6 million, with Earnings Per Share (EPS) at $1.32, up from $1.19 in the previous quarter. Net interest income increased to $143.5 million, while net interest margin (NIM) slightly decreased to 4.17%. Total loans rose to $11.1 billion, and total deposits increased to $12.5 billion. Return on Average Assets (ROAA) improved to 1.36%, and Return on Average Tangible Common Equity (ROATCE) increased to 14.55%. The company repurchased 195,114 shares and raised its dividend to $0.28 per share. Noninterest income climbed to $21.4 million, driven by higher tax credit income and gains from real estate sales. However, noninterest expense also rose to $98.0 million due to higher employee compensation and deposit service costs. The allowance for credit losses decreased to 1.26% of total loans, and nonperforming assets dropped to 0.22% of total assets.