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) 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.