Welcome to our dedicated page for Enterprise Finl Svcs news (Ticker: EFSC), a resource for investors and traders seeking the latest updates and insights on Enterprise Finl Svcs stock.
Enterprise Financial Services Corp (Nasdaq: EFSC) is a financial holding company in the commercial banking industry, headquartered in Clayton, Missouri. Its news flow reflects the activities of its primary subsidiary, Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers that operates branches in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico, along with SBA loan and deposit production offices across the United States.
News about EFSC frequently covers quarterly financial results, including net interest income, net interest margin, loan and deposit trends, asset quality metrics, and capital ratios. Earnings releases are often accompanied by announcements of dividends on common and preferred stock, as well as details on pre-provision net revenue and other non-GAAP measures discussed in the company’s reports.
Investors following EFSC can also expect updates on strategic transactions such as branch acquisitions. For example, Enterprise Bank & Trust has announced and completed the acquisition of twelve branches from First Interstate Bank, adding locations in Arizona and Kansas along with associated deposits and performing loans. These items appear in both press releases and related Form 8-K filings.
Additional EFSC news includes earnings release schedules, conference call and webcast details, investor presentation updates, and information on executive leadership changes at Enterprise Bank & Trust and the holding company. Together, these announcements provide insight into EFSC’s financial performance, geographic expansion, and corporate governance. Readers interested in EFSC news can use this page to review a consolidated stream of company-issued press releases and related market updates.
Enterprise Financial Services Corp (Nasdaq: EFSC) has completed its merger with First Choice Bancorp, effective July 21, 2021. This transaction adds approximately $2.4 billion in assets, $2.0 billion in loans, and $1.9 billion in deposits to Enterprise, increasing its total assets to about $12.7 billion. The merger enhances Enterprise's geographic presence with eight new branches in California. Shareholders of First Choice received 0.6603 shares of Enterprise stock and cash for fractional shares, valuing the deal at approximately $346 million. Peter Hui from FCBP joins the Enterprise Board.
Enterprise Financial Services Corp (Nasdaq: EFSC) announced that its stockholders approved the merger with First Choice Bancorp (FCBP) during a special meeting held on July 20, 2021. This decision follows the prior approval from FCBP’s shareholders on July 19, 2021. The merger is subject to customary closing conditions. EFSC, with approximately $10.2 billion in assets, operates numerous branches across several states, providing a variety of banking and wealth management services. The completion of this merger aims to enhance Enterprise's market position and service offerings.
Enterprise Financial Services Corp (Nasdaq: EFSC) has secured regulatory approvals for the merger of First Choice Bank into Enterprise Bank & Trust. This merger is set to advance under the terms established in the Agreement and Plan of Merger dated April 26, 2021. The completion of the merger is pending shareholder approvals from both EFSC and First Choice Bancorp, alongside other closing conditions. EFSC aims to finalize the acquisition in the third quarter of 2021, enhancing their service offerings and expanding their market presence.
Enterprise Financial Services Corp (EFSC) is set to release its Q2 2021 financial results on July 26, 2021. A conference call will take place on July 27, 2021, at 10:00 a.m. CT, accessible via telephone and on the Company’s website. The financial results will be available along with a presentation prior to the call. EFSC, based in Clayton, Missouri, manages about $10.2 billion in assets and operates multiple branches and service offices across several states, providing various banking and wealth management services.
Enterprise Financial Services Corp (Nasdaq: EFSC) has announced a new share repurchase program, replacing the previous one from May 4, 2015. The company is authorized to repurchase up to 2,000,000 shares of its common stock on the open market or through private transactions. This new initiative aims to enhance shareholder value by potentially increasing earnings per share (EPS) and demonstrating the company’s confidence in its financial standing.
Enterprise Financial Services Corp (Nasdaq: EFSC) reported a net income of $29.9 million for Q1 2021, an increase of $1.0 million from the previous quarter and $17.1 million year-over-year. Earnings per share (EPS) was $0.96, down from $1.00 in the linked quarter but up from $0.48 in the prior year. The decrease in the provision for credit losses contributed to the positive results. The firm also announced the acquisition of First Choice, enhancing its asset base to $3.8 billion. Total loans increased by 33.6% year-over-year, aided by PPP and Seacoast loans.
Enterprise Financial Services Corp (Nasdaq: EFSC) plans to acquire First Choice Bancorp (Nasdaq: FCBP) in a definitive all-stock merger valued at approximately $397.7 million, translating to $33.40 per FCBP share. The merger will create a combined entity with approximately $12.7 billion in assets. Following the merger, EFSC expects an 8% increase in 2022 earnings per share, and a tangible book value dilution to be recouped in under three years. Upon completion, EFSC shareholders will hold 80% of the new company, while FCBP shareholders will own 20%.
Enterprise Financial Services Corp (Nasdaq: EFSC) is set to release its first quarter 2021 financial results on April 26, 2021. A conference call will follow on April 27, 2021, at 10:00 a.m. CT, accessible via telephone and webcast. The company, with approximately $9.8 billion in assets and headquartered in Clayton, Missouri, operates 39 branch offices across several states and offers a range of banking and financial services. Recorded replays of the call will be available on their website for two weeks post-call.
Enterprise Financial Services Corp (Nasdaq: EFSC) reported a net income of $28.9 million for Q4 2020, up $11.0 million from the previous quarter. EPS increased to $1.00.
For the full year, net income totaled $74.4 million, down from $92.7 million in 2019. Key highlights include accelerated fees of $5.2 million from PPP loans and a completed acquisition of Seacoast.
Deposits rose to $8.0 billion, fueled by PPP loans. The company maintained a core efficiency ratio of 50.9% and declared a quarterly dividend of $0.18 per share.
Enterprise Financial Services Corp (Nasdaq: EFSC) is set to release its fourth quarter 2020 financial results on January 25, 2021, followed by a conference call on January 26, 2021, at 10:00 a.m. CT. The financial holding company, with approximately $9.7 billion in assets, operates 39 branches across several states and offers a variety of banking and wealth management services. The conference call will be accessible via phone and webcast, with a recorded replay available shortly after the call.