Enterprise Finl Svcs Corp Stock Price, News & Analysis

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.

Enterprise Financial Services Corp (Nasdaq: EFSC) has successfully completed its merger with Seacoast Commerce Banc Holdings, effective November 12, 2020. This strategic merger adds approximately $1.3 billion in assets, $1.2 billion in loans, and $1.0 billion in deposits to Enterprise, boosting its total assets to around $9.7 billion. The merger enhances Enterprise's commercial lending capabilities and geographic reach with five new branches in California and Nevada, with integration expected to finish in early 2021.

Enterprise Financial Services Corp (Nasdaq: EFSC) announced the approval of its merger with Seacoast Commerce Banc Holdings (OTCPK: SCBH) during a shareholder meeting on November 6, 2020. This merger, expected to close in mid-November, involves SCBH merging into EFSC, and Seacoast merging into Enterprise Bank & Trust. Shareholders of SCBH will receive 0.5061 shares of EFSC stock for each SCBH share held, with cash for any fractional shares. EFSC, with $8.4 billion in assets, aims to enhance its operational capabilities and market presence through this acquisition.

Enterprise Financial Services Corp (Nasdaq: EFSC) reported a net income of $18.0 million for Q3 2020, up $3.3 million from the previous quarter but down $11.1 million year-over-year. The earnings per share (EPS) rose to $0.68, compared to $0.56 in Q2 2020 and $1.08 in Q3 2019. Net interest income fell to $63.4 million, while noninterest income saw a rise to $12.6 million. Loans decreased slightly to $6.1 billion, with year-over-year growth of 17.2% driven by PPP loans. The company builds provisions for credit losses amid economic uncertainty.

Enterprise Financial Services Corp (Nasdaq: EFSC) will announce its third quarter 2020 financial results on October 19, 2020. A conference call and webcast will be held on October 20, 2020, at 10:00 a.m. CT. Participants can join the call via telephone at 1-800-353-6461 with Conference ID #6978860. The presentation and press release will be available on the company's website prior to the call, with an audio replay accessible shortly after the call ends.

Enterprise Financial Services Corp controls approximately $8 billion in assets and operates 34 branch offices across four states.