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 reports recurring developments in commercial banking, personal banking and wealth management through Enterprise Bank & Trust, its Missouri state-chartered trust company with banking powers. The bank operates branch offices in Arizona, California, Florida, Kansas, Missouri, Nevada and New Mexico, with SBA loan and deposit production offices throughout the United States.
Company news commonly covers quarterly earnings, net interest income and margin, loan and deposit trends, asset quality, capital returns through dividends and share repurchases, and branch-network expansion. Updates also discuss Enterprise Trust services, including financial planning, estate planning, investment management and trust services for businesses, individuals, institutions, retirement plans and nonprofit organizations.
Enterprise Financial Services Corp (Nasdaq: EFSC) reported a net income of $38.4 million for Q2 2021, up $8.5 million from the previous quarter and $23.8 million year-over-year. The EPS rose to $1.23, surpassing both $0.96 and $0.56 in earlier periods. Key highlights include a PPNR of $47.4 million, driven by strong noninterest income. Deposits increased by $124.1 million to $8.6 billion. The company also announced a 6% dividend increase and $12 million in stock repurchases, reflecting robust performance amid economic recovery.
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.