Enterprise Financial (NASDAQ: EFSC) Q2 2026 profit, credit trends and new buyback

Rhea-AI Filing Summary

Enterprise Financial Services Corp reported second quarter 2026 net income of $40.9 million, or $1.09 per diluted share, down from $49.4 million ($1.30) in the prior quarter and $51.4 million ($1.36) a year ago. Net interest income increased to $168.7 million, up $2.6 million sequentially and $16.0 million year over year, as the tax-equivalent net interest margin improved to 4.30% from 4.28% and 4.21%. Loans reached $11.9 billion, rising $199.6 million from the prior quarter, while deposits were $14.5 billion, essentially flat sequentially and up $1.2 billion year over year; noninterest-bearing deposits were 34% of total deposits.

Credit costs increased, with a $14.2 million provision for credit losses versus $7.2 million in the prior quarter and $3.5 million a year earlier, driven mainly by $13.6 million in net charge-offs and higher nonperforming assets, which were 0.92% of assets. Capital remained strong: tangible common equity to tangible assets was 9.04%, CET1 was 11.5%, and total risk-based capital was 15.0%. The company issued $175 million of 6.25% fixed-to-floating subordinated notes due 2036 and repurchased 382,083 shares for $22.9 million. The board approved an additional authorization to repurchase up to 2,000,000 common shares, about 5% of shares outstanding, on top of 249,400 shares remaining under the existing plan, and increased the quarterly common dividend to $0.35 per share for the third quarter of 2026.

Positive

• Net interest income rose to $168.7M with tax-equivalent NIM at 4.30%.
• Board expanded the stock repurchase authorization by 2.0M shares, about 5% of common.
• Tangible common equity to tangible assets remained solid at 9.04% with total risk-based capital of 15.0%.

Negative

• Quarterly net income declined to $40.9M, down $8.4M from the prior quarter.
• Provision for credit losses increased to $14.2M with net charge-offs of $13.6M.
• Nonperforming assets rose to 0.92% of total assets from 0.71% a year earlier.

Filing Explained

The repurchase authorization is maximum capacity, while the subordinated notes are issued obligations with terms extending to 2036.

The company reports second-quarter results and a July 20, 2026 authorization for up to 2,000,000 additional common-share repurchases; this is capacity rather than a commitment, and the plan may be suspended, terminated, or modified.

The filing separately reports 382,083 shares repurchased during the quarter; the new authorization itself does not report an additional purchase.

The issued $175.0 million subordinated notes carry an initial 6.25% rate, reset quarterly beginning July 1, 2031 to three-month term SOFR plus 232 basis points, are callable beginning then, and mature on July 1, 2036.

The reported regulatory capital ratios remain preliminary pending completion and filing of regulatory reports and ongoing regulatory review.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $40.9 million Diluted EPS: $1.09 Net interest income: $168.7 million +5 more

8 metrics

Net income $40.9 million Quarter ended June 30, 2026

Diluted EPS $1.09 Quarter ended June 30, 2026

Net interest income $168.7 million Quarter ended June 30, 2026, up $2.6 million from Q1 2026

Net interest margin (tax-equivalent) 4.30% Quarter ended June 30, 2026, compared to 4.28% in Q1 2026

Provision for credit losses $14.2 million Quarter ended June 30, 2026, versus $7.2 million in Q1 2026

Loans outstanding $11.9 billion Balance at June 30, 2026, up $199.6 million from March 31, 2026

Tangible common equity to tangible assets 9.04% Ratio at June 30, 2026

New repurchase authorization 2,000,000 shares Additional common shares approved for repurchase on July 20, 2026, about 5% of shares

Key Terms

pre-provision net revenue, tangible common equity, nonperforming assets, subordinated notes, +1 more

5 terms

pre-provision net revenue financial

"PPNR of $68.2 million in the second quarter 2026 decreased $2.2 million"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

tangible common equity financial

"Tangible common equity to tangible assets ratio was 9.04% at June 30, 2026"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

nonperforming assets financial

"The ratio of nonperforming assets to total assets was 0.92% at June 30, 2026"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

subordinated notes financial

"The Company issued $175.0 million of 6.25% fixed-to-floating rate subordinated notes"

Subordinated notes are loans companies issue that rank below other debts for repayment, meaning holders get paid only after higher-priority creditors if the issuer runs into trouble. Because they act like being farther back in line at a buffet, they usually offer higher interest to compensate for greater risk, so investors watch them for potential higher returns but also increased chance of loss and sensitivity to the issuer’s financial health.

stock repurchase plan financial

"The Board approved the repurchase of up to 2,000,000 additional shares under the Stock Repurchase Plan"

A stock repurchase plan is a company’s program to buy back its own shares from the market, reducing the number of shares available to investors. Like a store buying back its own gift cards to raise the value of remaining cards, buybacks can increase each remaining share’s claim on profits and often signal management believes the stock is undervalued or is an efficient way to return cash, which can affect share price and investor returns.

Earnings Snapshot

Net interest income: $168.7 million

quarter ended June 30, 2026

Net interest income $168.7 million up $2.6 million from the prior quarter

Net income $40.9 million down $8.4 million from the prior quarter

Diluted EPS $1.09 down from $1.30 in the prior quarter

Net interest margin (tax-equivalent) 4.30% up from 4.28% in the prior quarter

Provision for credit losses $14.2 million up from $7.2 million in the prior quarter

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 07/22/2026 - 04:06 PM Accepted by SEC EDGAR 07/22/2026 - 04:05 PM Learn about SEC filing dates

FAQ

How did EFSC perform financially in Q2 2026?

EFSC reported net income of $40.9 million, or $1.09 per diluted share, versus $49.4 million ($1.30) in Q1 2026. Net interest income was $168.7 million with a tax-equivalent net interest margin of 4.30%.

What were EFSC's loan and deposit levels in Q2 2026?

Total loans were $11.9 billion at June 30, 2026, up $199.6 million from Q1. Total deposits were $14.5 billion, down $21.8 million sequentially but up $1.2 billion year over year, with 34% in noninterest-bearing accounts.

How did EFSC's asset quality and credit costs change in Q2 2026?

The provision for credit losses was $14.2 million, versus $7.2 million in Q1 and $3.5 million a year earlier. Nonperforming assets were 0.92% of assets, and net charge-offs totaled $13.6 million, or 0.46% of average loans annualized.

What capital actions did EFSC take in Q2 2026?

EFSC issued $175 million of 6.25% fixed-to-floating subordinated notes due 2036, included in tier 2 capital. It also repurchased 382,083 shares for $22.9 million and maintained a tangible common equity ratio of 9.04%.

Did EFSC change its dividend in 2026?

For Q2 2026, EFSC paid a common dividend of $0.34 per share. The board approved a higher quarterly common dividend of $0.35 per share for the third quarter, payable September 30, 2026 to stockholders of record on September 15, 2026.

What is EFSC's updated stock repurchase plan?

The board approved repurchases of up to 2,000,000 additional common shares, on top of 249,400 shares remaining from the May 2022 plan. The added authorization equals about 5% of issued and outstanding common shares as of June 30, 2026.

How strong is EFSC's regulatory capital position?

At June 30, 2026, EFSC reported a CET1 ratio of 11.5%, a tier 1 capital ratio of 12.7%, and a total risk-based capital ratio of 15.0%. Tangible common equity to tangible assets was 9.04%, with tangible book value per share at $42.30.

0001025835FALSE150 N. Meramec AvenueSt. LouisMissouri6310500010258352026-07-202026-07-200001025835us-gaap:CommonStockMember2026-07-202026-07-200001025835efsc:DepositarySharesMember2026-07-202026-07-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) 

July 22, 2026 (July 20, 2026)

ENTERPRISE FINANCIAL SERVICES CORP

(Exact name of registrant as specified in its charter)

Delaware			001-15373			43-1706259
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

150 N. Meramec Avenue, St. Louis, Missouri (Address of principal executive offices) 63105 (Zip Code)

Registrant's telephone number, including area code

(314) 725-5500

Not applicable 

(Former name or former address, if changed since last report) 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 ☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

EFSC

Nasdaq Global Select Market

Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

EFSCP

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 22, 2026, Enterprise Financial Services Corp (the "Company" or "EFSC") issued a press release announcing financial information for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

On July 23, 2026, at 10:00 a.m. Central time, the Company intends to hold a webcast to present information on its results of operations for the quarter ended June 30, 2026. The slide presentation which will accompany the webcast is furnished as Exhibit 99.2 and is incorporated herein by reference.

The press release, slide presentation and information contained therein and in this Item 2.02 shall not be deemed “filed” with the Securities and Exchange Commission.

Item 8.01 Other Events.

On July 20, 2026, the Company’s Board of Directors approved the repurchase of up to 2,000,000 additional shares of the Company’s common stock, which are in addition to the 249,400 shares available for repurchase under the Company’s stock repurchase plan announced in May 2022 for 2,000,000 shares of common stock (combined, the “Stock Repurchase Plan”). The additional amount approved for repurchase pursuant to the Stock Repurchase Plan represents approximately 5% of the Company’s issued and outstanding shares of common stock as of June 30, 2026.

The Stock Repurchase Plan permits shares to be purchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Commission. The authorized Stock Repurchase Plan may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of stock repurchases. The Company is not obligated to purchase any particular number of shares under the Stock Repurchase Plan.

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit Number						Description
99.1						Press Release dated July 22, 2026.
99.2						Presentation to be conducted July 23, 2026.
104						The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ENTERPRISE FINANCIAL SERVICES CORP

Date:

July 22, 2026

By:

/s/ Troy R. Dumlao

Troy R. Dumlao

Executive Vice President and Chief Accounting Officer

EXHIBIT 99.1

ENTERPRISE FINANCIAL SERVICES CORP REPORTS SECOND QUARTER 2026 RESULTS

Second Quarter Results

•Net income of $40.9 million, or $1.09 per diluted common share, compared to $1.30 for the linked quarter and $1.36 for the prior year quarter

•Net interest margin (“NIM”) of 4.30%, quarterly increase of two basis points

•Net interest income of $168.7 million, quarterly increase of $2.6 million

•Total loans of $11.9 billion, quarterly increase of $199.6 million

•Total deposits of $14.5 billion, quarterly decrease of $21.8 million

•Return on average assets (“ROAA”) of 0.95%, compared to 1.16% for the linked quarter and 1.30% for the prior year quarter

•Return on average tangible common equity (“ROATCE”)1 of 10.39%, compared to 12.53% for the linked quarter and 13.84% for the prior year quarter

•Tangible common equity to tangible assets1 of 9.04%, compared to 9.01% in the linked quarter and 9.42% in the prior year quarter

•Tangible book value per common share1 of $42.30, compared to $41.38 for the linked quarter and an increase of 6% from the prior year quarter

•Issued $175 million of 6.25% fixed-to-floating rate subordinated notes due in 2036. The notes are callable beginning in 2031 and are included in tier 2 capital

•Returned $22.9 million to stockholders through the repurchase of 382,083 shares and $12.3 million through common stock dividends

•Increased quarterly dividend $0.01 to $0.35 per common share for the third quarter 2026

St. Louis, MO. July 22, 2026 – Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) today announced financial results for the second quarter of 2026. “Our strategic initiatives this quarter focused on driving sustainable profitability and capital efficiency. Through a targeted restructuring of our investment portfolio, we successfully enhanced our revenue profile and expanded margin. Simultaneously, we bolstered our regulatory capital base through the issuance of $175 million of subordinated debentures. While late-quarter challenges with two commercial credits led to higher charge-offs and provision expense, our core portfolio trends are relatively stable and our underwriting standards remain high,” said Jim Lally, President and Chief Executive Officer. “Looking toward the second half of 2026, we are committed to improving asset quality, securing disciplined loan and deposit growth and leveraging technology to boost operational efficiency.”

Comparisons to the prior year quarter are affected by the acquisition of 12 branches in Arizona and Kansas in the fourth quarter 2025 (the “Branch Acquisition”).

Highlights

•Earnings - Net income in the second quarter 2026 was $40.9 million, a decrease of $8.4 million and $10.5 million compared to the linked and prior year quarters, respectively. Earnings per diluted common share for the second quarter 2026 was $1.09, compared to $1.30 and $1.36 for the linked and prior year

1 ROATCE, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.

quarters, respectively. Adjusted diluted earnings per share2 was $1.13 in the second quarter 2026, compared to $1.31 and $1.37 in the linked and prior year quarters, respectively.

•Pre-provision net revenue (“PPNR”)2 - PPNR of $68.2 million in the second quarter 2026 decreased $2.2 million from the linked quarter and increased $0.1 million from the prior year quarter. The decrease from the linked quarter was primarily due to a decrease in noninterest income.

•Net interest income and NIM - Net interest income of $168.7 million for the second quarter 2026 increased $2.6 million and $16.0 million from the linked and prior year quarters, respectively. Compared to the linked quarter, net interest income benefitted from higher loan and securities yields, as well as an additional day during the period. Compared to the prior year quarter, net interest income increased primarily due to higher average loan and investment balances, higher investment yields, and a decrease on rates paid on interest-bearing liabilities. NIM was 4.30% for the second quarter 2026, compared to 4.28% and 4.21% for the linked and prior year quarters, respectively. The total cost of deposits of 1.53% for the second quarter 2026 increased one basis point and decreased 29 basis points from the linked and prior year quarters, respectively.

•Noninterest income - Noninterest income of $13.5 million for the second quarter 2026 decreased $5.6 million and $7.1 million from the linked and prior year quarters, respectively. The decrease in noninterest income from the linked and prior year quarters was primarily due to a net loss on sales of investment securities and a decrease in tax credit income. During the quarter, the Company executed balance sheet transactions to optimize future earnings. This included the sale of approximately $179 million of securities with a tax-equivalent yield of 3.13% and the reinvestment of the proceeds into new securities with a tax-equivalent yield of 5.20%. The Company also sold Visa Class B-1 common stock along with a parcel of land. A net loss of $1.5 million was recognized on these transactions. Tax credit income declined due to an increase in interest rates that negatively impacted the value of projects carried at fair value.

•Noninterest expense - Noninterest expense of $115.7 million for the second quarter 2026 increased $0.6 million and $10.0 million from the linked and prior year quarters, respectively. The increase from the prior year quarter was primarily driven by higher employee compensation cost, variable deposit costs and loan and legal expenses related to loan workouts and other real estate owned (“OREO”).

•Loans - Loans totaled $11.9 billion at June 30, 2026, an increase of $199.6 million and $483.6 million from the linked and prior year quarters, respectively. Average loans totaled $11.8 billion for the current and linked quarters, respectively, and $11.4 billion for the prior year quarter.

•Asset quality - The allowance for credit losses to total loans was 1.17% at June 30, 2026, compared to 1.21% at March 31, 2026 and 1.27% at June 30, 2025. The provision for credit losses in the second quarter 2026 was $14.2 million, compared to $7.2 million and $3.5 million for the linked and prior year quarters, respectively. The ratio of nonperforming assets to total assets was 0.92% at June 30, 2026, compared to 0.87% and 0.71% at March 31, 2026 and June 30, 2025, respectively.

•Deposits - Deposits totaled $14.5 billion at June 30, 2026, a decrease of $21.8 million and an increase of $1.2 billion from the linked and prior year quarters, respectively. Average deposits were $14.6 billion for the current and linked quarters, respectively, and $13.2 billion for the prior year quarter. At June 30, 2026, noninterest-bearing deposit accounts totaled $4.9 billion, or 34% of total deposits, and the loan to deposit ratio was 82%.

2 Adjusted diluted earnings per share and PPNR are non-GAAP measures. Please refer to discussion and reconciliation of these measures in the accompanying financial tables.

2

•Subordinated notes - In the second quarter 2026, the Company issued $175.0 million of 6.25% fixed-to-floating rate subordinated notes due in 2036 for general corporate purposes and to bolster capital. The notes are callable starting in July 2031 and are included in tier 2 capital.

•Capital - Total stockholders’ equity was $2.0 billion and the tangible common equity to tangible assets ratio3 was 9.04% at June 30, 2026, compared to 9.01% at March 31, 2026. Enterprise Bank & Trust remains “well-capitalized,” with a common equity tier 1 ratio of 12.1% and a total risk-based capital ratio of 13.1% at June 30, 2026. The Company’s common equity tier 1 ratio and total risk-based capital ratio were 11.5% and 15.0%, respectively, at June 30, 2026.

The Company’s Board of Directors (the “Board”) approved a quarterly dividend of $0.35 per common share, payable on September 30, 2026 to stockholders of record as of September 15, 2026. The Board also declared a cash dividend of $12.50 per share of Series A Preferred Stock (or $0.3125 per depositary share) representing a 5% per annum rate for the period commencing (and including) June 15, 2026 to (but excluding) September 15, 2026. The dividend will be payable on September 15, 2026 to stockholders of record of Series A Preferred Stock as of August 31, 2026.

3 Tangible common equity to tangible assets ratio is a non-GAAP measure. Please refer to discussion and reconciliation of this measure in the accompanying financial tables.

3

Net Interest Income and NIM

Average Balance Sheets

The following table presents, for the periods indicated, certain information related to the average interest-earning assets and interest-bearing liabilities, as well as the corresponding average interest rates earned and paid, all on a tax-equivalent basis.

			Quarter ended
			June 30, 2026																		March 31, 2026																		June 30, 2025
($ in thousands)			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Assets
Interest-earning assets:
Loans1, 2			$	11,775,879					$	188,819					6.43		%				$	11,777,727					$	185,380					6.38		%				$	11,358,209					$	188,007					6.64		%
Taxable securities			2,539,301						27,898						4.41						2,481,169						26,108						4.27						1,971,025						19,940						4.06
Non-taxable securities2			1,294,693						12,317						3.82						1,301,675						12,390						3.86						1,177,985						10,390						3.54
Total securities			3,833,994						40,215						4.21						3,782,844						38,498						4.13						3,149,010						30,330						3.86
Interest-earning deposits			431,044						3,697						3.44						504,541						4,533						3.64						315,738						3,368						4.28
Total interest-earning assets			16,040,917						232,731						5.82						16,065,112						228,411						5.77						14,822,957						221,705						6.00
Noninterest-earning assets			1,266,799																		1,245,991																		1,036,764
Total assets			$	17,307,716																	$	17,311,103																	$	15,859,721
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts			$	3,438,895					$	15,149					1.77		%				$	3,453,650					$	14,940					1.75		%				$	3,225,611					$	17,152					2.13		%
Money market accounts			4,009,504						25,788						2.58						3,952,475						25,198						2.59						3,660,053						28,437						3.12
Savings accounts			546,880						164						0.12						538,597						152						0.11						532,754						183						0.14
Certificates of deposit			1,698,565						14,569						3.44						1,665,977						14,459						3.52						1,486,522						14,207						3.83
Total interest-bearing deposits			9,693,844						55,670						2.30						9,610,699						54,749						2.31						8,904,940						59,979						2.70
Subordinated debentures and notes			120,277						2,061						6.87						93,725						1,522						6.59						156,753						2,737						7.00
FHLB advances			88,011						861						3.92						5,756						56						3.95						156,868						1,801						4.61
Securities sold under agreements to repurchase			200,060						1,162						2.33						270,057						1,614						2.42						209,493						1,592						3.05
Other borrowings			84,609						843						4.00						94,910						1,003						4.29						36,208						96						1.06
Total interest-bearing liabilities			10,186,801						60,597						2.39						10,075,147						58,944						2.37						9,464,262						66,205						2.81
Noninterest-bearing liabilities:
Demand deposits			4,914,670																		4,998,734																		4,340,301
Other liabilities			154,012																		160,718																		149,069
Total liabilities			15,255,483																		15,234,599																		13,953,632
Stockholders' equity			2,052,233																		2,076,504																		1,906,089
Total liabilities and stockholders' equity			$	17,307,716																	$	17,311,103																	$	15,859,721
Total net interest income									$	172,134																	$	169,467																	$	155,500
Net interest margin															4.30		%																4.28		%																4.21		%
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $1.5 million, $1.4 million, and $1.8 million for each of the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $3.4 million, $3.3 million, and $2.7 million for each of the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

4

Net interest income of $168.7 million for the second quarter 2026 increased $2.6 million and $16.0 million from the linked and prior year quarters, respectively. Net interest income on a tax-equivalent basis was $172.1 million, $169.5 million and $155.5 million for the current, linked and prior year quarters, respectively. The increase from the linked quarter reflects higher loan and securities yields, and the current quarter benefitted by one additional day compared to the linked quarter. These increases were partially offset by an increase in the average balance of interest-bearing liabilities. Compared to the prior year quarter, the increase in net interest income was primarily due to growth in the average balance of interest-earning assets and lower rates paid on interest-bearing liabilities, specifically securities under agreements to repurchase and money market accounts.

During the current quarter, the Company issued $175.0 million aggregate principal amount of 6.25% fixed-to-floating rate subordinated notes with a maturity date of July 1, 2036, which initially bear an annual interest rate of 6.25%, with interest payable semiannually. Beginning July 1, 2031, the interest rate resets quarterly to the three-month term SOFR rate plus a spread of 232.0 basis points, payable quarterly. The Company also sold approximately $179 million of investment securities with a tax-equivalent yield of 3.13% and reinvested the proceeds into new securities with a tax-equivalent yield of 5.20%. This transaction improved the overall tax-equivalent yield on securities by 10 basis points and will increase net interest income by $3.5 million annually.

Interest income for the second quarter 2026 increased $4.2 million and $10.3 million from the linked and prior year quarters, respectively. The increase from the linked quarter was primarily due to a five and eight basis point increase in loans and securities yields, respectively, as well as a $51.2 million increase in average investment securities balances and one additional day during the period. Compared to the prior year quarter, the increase in interest income was primarily due to an increase of $417.7 million and $685.0 million in average loan and investment securities balances, respectively. The average interest rate of new loan originations in the second quarter 2026 was 6.58%, and investment purchases in the second quarter 2026 had a weighted average, tax-equivalent yield of 5.03%.

Interest expense in the second quarter 2026 increased $1.7 million and decreased $5.6 million from the linked and prior year quarters, respectively. Compared to the linked quarter, the increase was primarily due to higher average subordinated debt and other borrowed funds balances. Compared to the prior year quarter, the decrease was primarily due to decreased interest paid on interest-bearing liabilities. The rate paid on interest-bearing liabilities was 2.39% during the second quarter 2026, compared to 2.81% in the prior year quarter.

NIM, on a tax-equivalent basis, was 4.30% in the second quarter 2026, an increase of two basis points and nine basis points from the linked and prior year quarters, respectively. For the month of June 2026, the loan portfolio yield was 6.50% and the cost of total deposits was 1.52%.

Investments

			At
			June 30, 2026												March 31, 2026												June 30, 2025
($ in thousands)			Carrying Value						Net Unrealized Loss						Carrying Value						Net Unrealized Loss						Carrying Value						Net Unrealized Loss
Available-for-sale (AFS)			$	2,795,725					$	(101,080)					$	2,773,667					$	(116,745)					$	2,204,511					$	(131,094)
Held-to-maturity (HTM)			1,036,477						(38,163)						1,055,495						(52,176)						1,091,238						(75,144)
Total			$	3,832,202					$	(139,243)					$	3,829,162					$	(168,921)					$	3,295,749					$	(206,238)

Investment securities totaled $3.8 billion at June 30, 2026, an increase of $3.0 million from the linked quarter. The tangible common equity to tangible assets ratio adjusted for unrealized losses on HTM securities4 was 8.87% at June 30, 2026, compared to 8.78% at March 31, 2026.

4 The tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities is a non-GAAP measure. Refer to discussion and reconciliation of this measure in the accompanying financial tables.

5

Loans

The following table presents total loans for the most recent five quarters:

			At
($ in thousands)			June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025						June 30, 2025
C&I			$	2,628,065					$	2,655,273					$	2,606,472					$	2,320,868					$	2,316,609
CRE investor owned			2,902,890						2,763,227						2,786,139						2,626,657						2,547,859
CRE owner occupied			1,421,859						1,452,350						1,404,704						1,296,902						1,281,572
SBA loans*			1,237,294						1,230,455						1,262,456						1,257,817						1,249,225
Sponsor finance*			708,449						661,946						694,905						774,142						771,280
Life insurance premium financing*			1,250,250						1,208,098						1,187,128						1,151,700						1,155,623
Tax credits*			725,452						702,080						802,818						780,767						708,401
Residential real estate			356,342						340,966						362,278						359,315						356,722
Construction and land development			608,923						621,988						633,803						784,218						773,122
Consumer**			52,875						56,397						59,635						230,723						248,427
Total loans			$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109					$	11,408,840
Quarterly loan yield			6.43		%				6.38		%				6.51		%				6.64		%				6.64		%
Loans by rate type (to total loans):
Fixed			37		%				37		%				40		%				41		%				40		%
Variable:			63		%				63		%				60		%				59		%				60		%
SOFR			32		%				32		%				30		%				29		%				29		%
Prime			24		%				24		%				23		%				23		%				24		%
Other			7		%				7		%				7		%				7		%				7		%
Variable rate loans to total loans, adjusted for interest rate hedges			58		%				59		%				56		%				55		%				56		%
*Specialty loan category
**Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted.

Loans totaled $11.9 billion at June 30, 2026, an increase of $199.6 million compared to the linked quarter. The increase was primarily driven by the $118.9 million increase in specialty lending categories and $109.2 million increase in commercial real estate loans. Loan production outpaced repayment activity in the quarter with loan volume of $1.0 billion compared to repayment activity of $814.2 million. Loan volume was strongest in the C&I and CRE portfolios in the current quarter. Average line utilization was approximately 47% for the current quarter, compared to 45% and 46% for the linked and prior year quarters, respectively.

6

Asset Quality

The following table presents the categories of nonperforming assets and related ratios for the most recent five quarters:

			At
($ in thousands)			June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025						June 30, 2025
Nonperforming loans*			$	76,144					$	64,941					$	82,809					$	127,878					$	105,807
Other1			84,259						84,482						81,544						7,821						8,221
Nonperforming assets*			$	160,403					$	149,423					$	164,353					$	135,699					$	114,028
Nonperforming loans to total loans			0.64		%				0.56		%				0.70		%				1.10		%				0.93		%
Nonperforming assets to total assets			0.92		%				0.87		%				0.95		%				0.83		%				0.71		%
Allowance for credit losses			$	139,238					$	142,064					$	140,022					$	148,854					$	145,133
Allowance for credit losses to total loans			1.17		%				1.21		%				1.19		%				1.29		%				1.27		%
Allowance for credit losses to nonperforming loans*			182.9		%				218.8		%				169.1		%				116.4		%				137.2		%
Quarterly net charge-offs			$	13,555					$	4,407					$	20,674					$	4,057					$	630
*Guaranteed balances excluded			$	40,698					$	28,243					$	28,903					$	33,475					$	26,536
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

The following table presents a summary of nonperforming assets by loan category as of June 30, 2026:

($ in thousands)			Nonperforming Loans						Government Guaranteed						Nonperforming Loans, net						ACL Reserve Allocation
C&I			$	21,619					$	(1,538)					$	20,081					$	(11,785)
CRE investor owned			50,872						(8,771)						42,101						(91)
CRE owner occupied			37,567						(28,391)						9,176						(395)
SBA (included in CRE owner occupied)			35,956						(28,391)						7,565						(376)
Other			6,784						(1,998)						4,786						(287)
Total			$	116,842					$	(40,698)					$	76,144					$	(12,558)
Other1															84,259
Nonperforming assets															$	160,403
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value.

Nonperforming assets increased $11.0 million and $46.4 million from the linked and prior year quarters, respectively. The increase in nonperforming assets compared to the linked quarter is primarily due to a $16.0 million CRE relationship and a $5.8 million C&I relationship that went on nonaccrual, partially offset by a $4.2 million C&I relationship that became current during the period.

The provision for credit losses totaled $14.2 million in the second quarter 2026, compared to $7.2 million and $3.5 million in the linked and prior year quarters, respectively. The second quarter 2026 provision for credit losses was driven mainly by $13.6 million in net charge-offs. Most of these losses came from two accounts: an $8.3 million C&I relationship in Texas and a $5.2 million Sponsor Finance relationship. Annualized net charge-offs totaled 46 basis points of average loans in the current quarter, compared to 15 basis points in the linked quarter and two basis points of average loans in the prior year quarter.

7

Deposits

The following table presents deposits broken out by type for the most recent five quarters:

			At
($ in thousands)			June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025						June 30, 2025
Noninterest-bearing demand accounts			$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513					$	4,322,332
Interest-bearing demand accounts			3,406,505						3,395,680						3,537,334						3,301,621						3,184,670
Money market and savings accounts			4,482,011						4,610,662						4,528,510						4,228,605						4,209,032
Brokered certificates of deposit			736,377						724,788						721,977						762,499						752,422
Other certificates of deposit			967,423						964,892						947,406						888,674						848,903
Total deposit portfolio			$	14,502,551					$	14,524,397					$	14,609,342					$	13,567,912					$	13,317,359
Noninterest-bearing deposits to total deposits			33.9		%				33.2		%				33.4		%				32.3		%				32.5		%
Quarterly cost of deposits			1.53		%				1.52		%				1.64		%				1.80		%				1.82		%

Total deposits at June 30, 2026 were $14.5 billion, a decrease of $21.8 million and an increase of $1.2 billion from the linked and prior year quarters, respectively. Average deposits for the three months ended June 30, 2026 and March 31, 2026 were $14.6 billion, compared to $13.2 billion for the three months ended June 30, 2025. Reciprocal deposits, which are placed through third party programs to provide FDIC insurance on larger deposit relationships, totaled $1.2 billion and $1.3 billion at June 30, 2026 and March 31, 2026, respectively.

Noninterest Income

The following table presents a comparative summary of the major components of noninterest income for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			June 30, 2026						March 31, 2026						Increase (decrease)												June 30, 2025						Increase (decrease)
Deposit service charges			$	5,477					$	5,256					$	221					4		%				$	4,940					$	537					11		%
Wealth management revenue			2,804						2,712						92						3		%				2,584						220						9		%
Card services revenue			2,545						2,535						10						—		%				2,444						101						4		%
Tax credit income (loss)			(1,733)						(179)						(1,554)						(868)		%				2,207						(3,940)						(179)		%
Other income			4,385						8,764						(4,379)						(50)		%				8,429						(4,044)						(48)		%
Total noninterest income			$	13,478					$	19,088					$	(5,610)					(29)		%				$	20,604					$	(7,126)					(35)		%

Total noninterest income was $13.5 million for the second quarter 2026, a decrease of $5.6 million and $7.1 million from the linked and prior year quarters, respectively. The decrease from the linked and prior year quarters was primarily due to lower tax credit income and other income, which is discussed further below. Tax credit income is typically highest in the fourth quarter of each year and will vary in other periods based on transaction volumes and fair value changes. Changes in the interest rate environment had a negative impact on tax credit projects carried at fair value.

8

The following table presents a comparative summary of the major components of other income for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			June 30, 2026						March 31, 2026						Increase (decrease)												June 30, 2025						Increase (decrease)
BOLI			$	2,427					$	2,533					$	(106)					(4)		%				$	2,561					$	(134)					(5)		%
Community development investments			404						1,067						(663)						(62)		%				1,426						(1,022)						(72)		%
Gain on SBA loan sales			—						1,414						(1,414)						(100)		%				1,153						(1,153)						(100)		%
Gain on sales of fixed assets			687						—						687						100		%				—						687						100		%
Net gain (loss) on OREO			(302)						(295)						(7)						2		%				56						(358)						(639)		%
Net loss on sales of investment securities			(2,146)						—						(2,146)						(100)		%				—						(2,146)						(100)		%
Private equity fund distributions			283						1,837						(1,554)						(85)		%				502						(219)						(44)		%
Servicing fees			540						448						92						21		%				485						55						11		%
Swap fees			131						97						34						35		%				86						45						52		%
Miscellaneous income			2,361						1,663						698						42		%				2,160						201						9		%
Total other income			$	4,385					$	8,764					$	(4,379)					(50)		%				$	8,429					$	(4,044)					(48)		%

The decrease in other income from the linked and prior year quarters was primarily due to a $2.1 million net loss on sales of investment securities in the current quarter and a gain on the sale of guaranteed SBA loans during the linked and prior year quarters that did not reoccur, partially offset by a $0.7 million gain on sales of fixed assets. During the period, the Company sold investment securities with a tax-equivalent yield of 3.13% and reinvested the proceeds into securities with a tax-equivalent yield of approximately 5.20%. A pre-tax loss of approximately $6 million on the sale of these securities was partially offset by a pre-tax gain of approximately $4 million from the sale of Visa Class B-1 common stock.

Noninterest Expense

The following table presents a comparative summary of the major components of noninterest expense for the periods indicated:

			Linked quarter comparison																								Prior year comparison
			Quarter ended																								Quarter ended
($ in thousands)			June 30, 2026						March 31, 2026						Increase (decrease)												June 30, 2025						Increase (decrease)
Employee compensation and benefits			$	53,114					$	55,759					$	(2,645)								(5)		%				$	50,164					$	2,950					6		%
Deposit costs			27,832						25,996						1,836									7		%				24,765						3,067						12		%
Occupancy			5,909						5,902						7									—		%				5,065						844						17		%
Acquisition costs			—						—						—									—		%				518						(518)						(100)		%
Other expense			28,884						27,480						1,404									5		%				25,190						3,694						15		%
Total noninterest expense			$	115,739					$	115,137					$	602								1		%				$	105,702					$	10,037					9		%

Noninterest expense increased $0.6 million and $10.0 million from the linked and prior year quarters, respectively. Deposit costs relate to certain businesses in the deposit verticals that receive an earnings credit allowance for deposit-related services provided to us. These earnings credit allowances are impacted by, among other things, interest rates and average balances. Deposit costs increased $1.8 million from the linked quarter primarily due to the expiration of certain unused allowances that reduced expense in the first quarter. Employee compensation and benefits decreased $2.6 million from the linked quarter primarily due to employer payroll taxes that are seasonally higher in the first quarter each year.

9

The increase in noninterest expense from the prior year quarter was primarily due to an increase in the associate base as a result of the Branch Acquisition, merit increases throughout 2025 and 2026, an increase of $3.1 million in deposit costs due to higher earnings credit allowances and deposit vertical average balances, and an increase of $0.6 million in loan and legal expenses due to loan workouts and the foreclosure of certain properties. For the second quarter 2026, the core efficiency ratio5 was 61.1%, compared to 60.2% for the linked quarter and 59.3% for the prior year quarter.

Income Taxes

The effective tax rate for the current quarter was 21.7%, compared to 21.5% and 20.0% in the linked and prior year quarters, respectively. The increase in the effective tax rate from the prior year quarter was due to an increase in state taxes from apportionment factors and a decrease in tax credit investments.

Capital

The following table presents total equity and various capital ratios for the most recent five quarters:

			At
($ in thousands)			June 30, 2026*						March 31, 2026						December 31, 2025						September 30, 2025						June 30, 2025
Stockholders’ equity			$	2,040,846					$	2,022,204					$	2,039,386					$	1,982,332					$	1,922,899
Total risk-based capital to risk-weighted assets			15.0		%				13.9		%				13.9		%				14.4		%				14.7		%
Tier 1 capital to risk weighted assets			12.7		%				12.9		%				12.8		%				13.3		%				13.2		%
Common equity tier 1 capital to risk-weighted assets			11.5		%				11.7		%				11.6		%				12.0		%				11.9		%
Leverage ratio			10.4		%				10.4		%				10.5		%				11.1		%				11.1		%
Tangible common equity to tangible assets5			9.04		%				9.01		%				9.07		%				9.60		%				9.42		%

*Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

Total equity was $2.0 billion at June 30, 2026, an increase of $18.6 million and $117.9 million from the linked and prior year quarters, respectively. Tangible book value per common share5 was $42.30 at June 30, 2026, compared to $41.38 and $40.02 at March 31, 2026 and June 30, 2025, respectively. The Company repurchased 382,083 shares at an average price of $59.93 in the second quarter 2026, and has 249,400 shares remaining in the current plan that was previously approved in May 2022. On July 20, 2026, the Company’s Board of Directors approved adding an additional 2,000,000 shares to the Company’s stock repurchase plan.

The issuance of subordinated debt during the current quarter enhanced total risk-based capital. The Company’s regulatory capital ratios continue to exceed the “well-capitalized” regulatory benchmark. Capital ratios for the current quarter are subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

5 Core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share are non-GAAP measures. Refer to discussion and reconciliation of these measures in the accompanying financial tables.

10

Use of Non-GAAP Financial Measures

The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA, and adjusted diluted earnings per share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP.

The Company considers its tangible common equity, PPNR, ROATCE, adjusted ROATCE, core efficiency ratio, tangible common equity to tangible assets ratio, tangible common equity to tangible assets ratio adjusted for unrealized losses on held-to-maturity securities, tangible book value per common share, return on average common equity, adjusted return on average common equity, allowance for credit losses to total loans excluding guaranteed loans, adjusted ROAA and adjusted diluted earnings per share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on OREO and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity to tangible assets ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject.

The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

Conference Call and Webcast Information

The Company will host a conference call and webcast at 10:00 a.m. Central Time on Thursday, July 23, 2026. During the call, management will review the second quarter 2026 results and related matters. This press release as well as a related slide presentation will be accessible via the “Investor Relations” page of the Company’s website, https://investor.enterprisebank.com/events-and-presentations, prior to the scheduled broadcast of the conference call. The call can be accessed via this same website page, or via telephone at 1-833-461-5787. After connecting, you may say the name of the conference or enter the Conference ID 122714948. We encourage participants to pre-register for the conference call using the following link: https://bit.ly/EFSC2Q2026EarningsCallRegistration. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time. A recorded replay of the conference call will be available on the website after the call’s completion. The replay will be available for at least two weeks following the conference call.

11

About Enterprise Financial Services Corp

Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $17.4 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates branch offices in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit production offices throughout the country. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.

Enterprise Financial Services Corp’s common stock is traded on the Nasdaq Global Select Market under the symbol “EFSC.” Please visit our website at www.enterprisebank.com to see our regularly posted material information.

Forward-looking Statements

Readers should note that, in addition to the historical information contained herein, this press release contains “forward-looking statements” within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions.

Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma”, “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: the Company’s ability to efficiently integrate acquisitions into its operations, retain the customers of these businesses and grow the acquired operations, the Company’s ability to collect insurance proceeds from claims made related to tax recapture events, credit risk, changes in the appraised valuation of real estate securing impaired loans, outcomes of litigation and other contingencies, exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget and tax matters (including the effect of a prolonged U.S. federal government shutdown), and any slowdown in global economic growth, risks associated with rapid increases or decreases in prevailing interest rates, our ability to attract and retain deposits and access to other sources of liquidity, changes in business prospects that could impact goodwill estimates and assumptions, consolidation in the banking industry, competition from banks and other financial institutions, the Company’s ability to attract and retain relationship officers and other key personnel, burdens imposed by federal and state regulation, changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including rules and regulations relating to bank products and financial services, changes in accounting policies and practices or accounting standards, natural disasters (including wildfires and earthquakes), terrorist activities, war and geopolitical matters (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity, and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025,

12

and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results.

For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made.

For more information contact:

Investor Relations

Keene Turner, Senior Executive Vice President, CFO and COO (314) 512-7233

Dakota Danescu, Senior Investor Relations Analyst (314) 810-3623

Media

Steve Richardson, Senior Vice President, Corporate Communications (314) 995-5695

13

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited)

			Quarter ended																														Six months ended
(in thousands, except per share data)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025						Jun 30, 2026						Jun 30, 2025
EARNINGS SUMMARY
Net interest income			$	168,716					$	166,147					$	168,174					$	158,286					$	152,762					$	334,863					$	300,278
Provision for credit losses			14,210						7,243						9,236						8,447						3,470						21,453						8,654
Noninterest income			13,478						19,088						25,412						48,624						20,604						32,566						39,087
Noninterest expense			115,739						115,137						114,532						109,790						105,702						230,876						205,485
Income before income tax expense			52,245						62,855						69,818						88,673						64,194						115,100						125,226
Income tax expense			11,318						13,493						15,024						43,438						12,810						24,811						23,881
Net income			40,927						49,362						54,794						45,235						51,384						90,289						101,345
Preferred stock dividends			937						938						937						938						937						1,875						1,875
Net income available to common stockholders			$	39,990					$	48,424					$	53,857					$	44,297					$	50,447					$	88,414					$	99,470
Diluted earnings per common share			$	1.09					$	1.30					$	1.45					$	1.19					$	1.36					$	2.39					$	2.67
Adjusted diluted earnings per common share1			1.13						1.31						1.36						1.20						1.37						2.44						2.68
Return on average assets			0.95		%				1.16		%				1.27		%				1.11		%				1.30		%				1.05		%				1.30		%
Adjusted return on average assets1			0.98		%				1.16		%				1.19		%				1.12		%				1.31		%				1.07		%				1.30		%
Return on average common equity1			8.10		%				9.80		%				10.95		%				9.29		%				11.03		%				8.95		%				11.07		%
Adjusted return on average common equity1			8.37		%				9.84		%				10.28		%				9.40		%				11.12		%				9.10		%				11.10		%
ROATCE1			10.39		%				12.53		%				14.02		%				11.56		%				13.84		%				11.46		%				13.93		%
Adjusted ROATCE1			10.73		%				12.59		%				13.15		%				11.70		%				13.96		%				11.66		%				13.97		%
Net interest margin (tax-equivalent)			4.30		%				4.28		%				4.26		%				4.23		%				4.21		%				4.29		%				4.18		%
Efficiency ratio			63.5		%				62.2		%				59.2		%				53.1		%				61.0		%				62.8		%				60.5		%
Core efficiency ratio1			61.1		%				60.2		%				58.3		%				61.0		%				59.3		%				60.7		%				59.1		%
Assets			$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405					$	16,076,299
Average assets			$	17,307,716					$	17,311,103					$	17,099,429					$	16,178,088					$	15,859,721					$	17,309,400					$	15,751,959
Period end common shares outstanding			36,258						36,581						36,965						37,011						36,950
Dividends per common share			$	0.34					$	0.33					$	0.32					$	0.31					$	0.30					$	0.67					$	0.59
Tangible book value per common share1			$	42.30					$	41.38					$	41.37					$	41.58					$	40.02
Tangible common equity to tangible assets1			9.04		%				9.01		%				9.07		%				9.60		%				9.42		%
Total risk-based capital to risk-weighted assets2			15.0		%				13.9		%				13.9		%				14.4		%				14.7		%
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

14

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Quarter ended																														Six months ended
(in thousands, except per share data)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025						Jun 30, 2026						Jun 30, 2025
INCOME STATEMENTS
NET INTEREST INCOME
Interest income			$	229,313					$	225,091					$	232,273					$	225,390					$	218,967					$	454,404					$	430,747
Interest expense			60,597						58,944						64,099						67,104						66,205						119,541						130,469
Net interest income			168,716						166,147						168,174						158,286						152,762						334,863						300,278
Provision for credit losses			14,210						7,243						9,236						8,447						3,470						21,453						8,654
Net interest income after provision for credit losses			154,506						158,904						158,938						149,839						149,292						313,410						291,624
NONINTEREST INCOME
Deposit service charges			5,477						5,256						5,081						4,935						4,940						10,733						9,360
Wealth management revenue			2,804						2,712						2,642						2,571						2,584						5,516						5,243
Card services revenue			2,545						2,535						2,621						2,535						2,444						5,080						4,839
Tax credit income (loss)			(1,733)						(179)						3,180						(300)						2,207						(1,912)						4,817
Insurance recoveries1			—						—						—						32,112						—						—						—
Other income			4,385						8,764						11,888						6,771						8,429						13,149						14,828
Total noninterest income			13,478						19,088						25,412						48,624						20,604						32,566						39,087
NONINTEREST EXPENSE
Employee compensation and benefits			53,114						55,759						50,149						49,640						50,164						108,873						98,372
Deposit costs			27,832						25,996						27,471						27,172						24,765						53,828						48,588
Occupancy			5,909						5,902						5,764						4,895						5,065						11,811						9,495
FDIC special assessment			—						—						(652)						—						—						—						—
Acquisition costs			—						—						2,548						609						518						—						518
Other expense			28,884						27,480						29,252						27,474						25,190						56,364						48,512
Total noninterest expense			115,739						115,137						114,532						109,790						105,702						230,876						205,485
Income before income tax expense			52,245						62,855						69,818						88,673						64,194						115,100						125,226
Income tax expense			11,318						13,493						15,024						11,326						12,810						24,811						23,881
Tax credit recapture and provision for anticipated tax applied to related insurance recoveries2			—						—						—						32,112						—						—						—
Total income tax expense			11,318						13,493						15,024						43,438						12,810						24,811						23,881
Net income			$	40,927					$	49,362					$	54,794					$	45,235					$	51,384					$	90,289					$	101,345
Preferred stock dividends			937						938						937						938						937						1,875						1,875
Net income available to common stockholders			$	39,990					$	48,424					$	53,857					$	44,297					$	50,447					$	88,414					$	99,470
Basic earnings per common share			$	1.10					$	1.31					$	1.46					$	1.20					$	1.36					$	2.41					$	2.69
Diluted earnings per common share			$	1.09					$	1.30					$	1.45					$	1.19					$	1.36					$	2.39					$	2.67
1 Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.
2 Represents recapture of $24.1 million solar tax credit and approximately $8.0 million of estimated tax liability related to anticipated proceeds from pending insurance claim related to a third quarter 2025 recapture event.

15

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			At
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
BALANCE SHEET
ASSETS
Cash and due from banks			$	273,875					$	258,542					$	208,080					$	208,455					$	252,817
Interest-earning deposits			278,852						376,824						474,720						264,399						239,602
Debt and equity investments			3,960,834						3,911,106						3,810,876						3,527,467						3,384,347
Loans held for sale			1,145						418						928						681						586
Loans			11,892,399						11,692,780						11,800,338						11,583,109						11,408,840
Allowance for credit losses			(139,238)						(142,064)						(140,022)						(148,854)						(145,133)
Total loans, net			11,753,161						11,550,716						11,660,316						11,434,255						11,263,707
Fixed assets, net			57,318						57,956						58,993						49,248						48,639
Goodwill			416,968						416,968						416,968						365,164						365,164
Intangible assets, net			18,228						19,525						21,175						6,140						6,876
Other assets			638,628						635,773						648,828						546,596						514,561
Total assets			$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405					$	16,076,299
LIABILITIES AND STOCKHOLDERS’ EQUITY
Noninterest-bearing deposits			$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513					$	4,322,332
Interest-bearing deposits			9,592,316						9,696,022						9,735,227						9,181,399						8,995,027
Total deposits			14,502,551						14,524,397						14,609,342						13,567,912						13,317,359
Subordinated debentures and notes			265,910						93,759						93,688						93,617						156,796
FHLB advances			208,000						—						—						327,000						294,000
Other borrowings			208,166						319,345						387,717						247,006						210,641
Other liabilities			173,536						268,123						170,751						184,538						174,604
Total liabilities			15,358,163						15,205,624						15,261,498						14,420,073						14,153,400
Stockholders’ equity:
Preferred stock			71,988						71,988						71,988						71,988						71,988
Common stock			363						366						370						370						369
Additional paid-in capital			986,133						990,394						1,000,775						997,446						991,663
Retained earnings			1,056,072						1,041,038						1,020,840						980,548						947,864
Accumulated other comprehensive loss			(73,710)						(81,582)						(54,587)						(68,020)						(88,985)
Total stockholders’ equity			2,040,846						2,022,204						2,039,386						1,982,332						1,922,899
Total liabilities and stockholders’ equity			$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405					$	16,076,299

16

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Six months ended
			June 30, 2026																		June 30, 2025
($ in thousands)			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
AVERAGE BALANCE SHEET
Assets
Interest-earning assets:
Loans1, 2			$	11,776,799					$	374,199					6.41		%				$	11,299,832					$	370,046					6.60		%
Taxable securities			2,510,396						54,006						4.34						1,895,241						37,565						4.00
Nontaxable securities2			1,298,164						24,707						3.84						1,145,322						19,857						3.50
Total securities			3,808,560						78,713						4.17						3,040,563						57,422						3.81
Interest-earning deposits			467,589						8,230						3.55						396,986						8,492						4.31
Total interest-earning assets			16,052,948						461,142						5.79						14,737,381						435,960						5.97
Noninterest-earning assets			1,256,452																		1,014,578
Total assets			$	17,309,400																	$	15,751,959
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing demand accounts			$	3,446,232					$	30,089					1.76		%				$	3,196,680					$	34,209					2.16		%
Money market accounts			3,981,147						50,986						2.58						3,630,955						56,941						3.16
Savings accounts			542,762						316						0.12						533,629						372						0.14
Certificates of deposit			1,682,361						29,028						3.48						1,430,917						27,723						3.91
Total interest-bearing deposits			9,652,502						110,419						2.31						8,792,181						119,245						2.74
Subordinated debentures and notes			107,074						3,583						6.75						156,684						5,299						6.82
FHLB advances			47,110						917						3.93						91,448						2,088						4.60
Securities sold under agreements to repurchase			234,866						2,776						2.38						238,058						3,609						3.06
Other borrowings			89,731						1,846						4.15						36,205						228						1.27
Total interest-bearing liabilities			10,131,283						119,541						2.38						9,314,576						130,469						2.82
Noninterest-bearing liabilities:
Demand deposits			4,956,803																		4,401,504
Other liabilities			157,013																		151,080
Total liabilities			15,245,099																		13,867,160
Stockholders' equity			2,064,301																		1,884,799
Total liabilities and stockholders' equity			$	17,309,400																	$	15,751,959
Total net interest income									$	341,601																	$	305,491
Net interest margin															4.29		%																4.18		%
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $2.9 million and $3.4 million for the six months ended June 30, 2026 and June 30, 2025, respectively.
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $6.7 million and $5.2 million for the six months ended June 30, 2026 and June 30, 2025, respectively.

17

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			At or for the quarter ended
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
LOAN PORTFOLIO
Commercial and industrial			$	5,257,840					$	5,168,533					$	5,231,616					$	4,943,561					$	4,870,268
Commercial real estate			5,556,856						5,453,966						5,453,821						5,178,649						5,074,100
Construction real estate			663,480						667,703						687,584						858,146						844,497
Residential real estate			361,346						346,181						367,682						365,010						364,281
Consumer			52,877						56,397						59,635						237,743						255,694
Total loans			$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109					$	11,408,840
DEPOSIT PORTFOLIO
Noninterest-bearing demand accounts			$	4,910,235					$	4,828,375					$	4,874,115					$	4,386,513					$	4,322,332
Interest-bearing demand accounts			3,406,505						3,395,680						3,537,334						3,301,621						3,184,670
Money market and savings accounts			4,482,011						4,610,662						4,528,510						4,228,605						4,209,032
Brokered certificates of deposit			736,377						724,788						721,977						762,499						752,422
Other certificates of deposit			967,423						964,892						947,406						888,674						848,903
Total deposits			$	14,502,551					$	14,524,397					$	14,609,342					$	13,567,912					$	13,317,359
AVERAGE BALANCES
Loans			$	11,775,879					$	11,777,727					$	11,794,459					$	11,454,183					$	11,358,209
Securities			3,833,994						3,782,844						3,623,965						3,353,305						3,149,010
Interest-earning assets			16,040,917						16,065,112						15,971,267						15,135,880						14,822,957
Assets			17,307,716						17,311,103						17,099,429						16,178,088						15,859,721
Deposits			14,608,514						14,609,433						14,537,381						13,604,302						13,245,241
Stockholders’ equity			2,052,233						2,076,504						2,022,472						1,964,126						1,906,089
Tangible common equity1			1,544,417						1,567,129						1,524,453						1,520,476						1,461,700
YIELDS (tax-equivalent)
Loans			6.43		%				6.38		%				6.51		%				6.64		%				6.64		%
Securities			4.21						4.13						4.02						3.93						3.86
Interest-earning assets			5.82						5.77						5.86						5.99						6.00
Interest-bearing deposits			2.30						2.31						2.46						2.67						2.70
Deposits			1.53						1.52						1.64						1.80						1.82
Subordinated debentures and notes			6.87						6.59						6.61						7.78						7.00
FHLB advances and other borrowed funds			3.08						2.92						3.27						3.47						3.48
Interest-bearing liabilities			2.39						2.37						2.52						2.77						2.81
Net interest margin			4.30						4.28						4.26						4.23						4.21

1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.

18

ENTERPRISE FINANCIAL SERVICES CORP

CONSOLIDATED FINANCIAL SUMMARY (unaudited) (continued)

			Quarter ended
(in thousands, except per share data)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
ASSET QUALITY
Net charge-offs			$	13,555					$	4,407					$	20,674					$	4,057					$	630
Nonperforming loans			76,144						64,941						82,809						127,878						105,807
Classified assets			413,779						430,288						410,485						352,792						281,162
Nonperforming loans to total loans			0.64		%				0.56		%				0.70		%				1.10		%				0.93		%
Nonperforming assets to total assets			0.92		%				0.87		%				0.95		%				0.83		%				0.71		%
Allowance for credit losses to total loans			1.17		%				1.21		%				1.19		%				1.29		%				1.27		%
Allowance for credit losses to total loans, excluding guaranteed loans1			1.27		%				1.32		%				1.29		%				1.40		%				1.38		%
Allowance for credit losses to nonperforming loans			182.9		%				218.8		%				169.1		%				116.4		%				137.2		%
Net charge-offs to average loans - annualized			0.46		%				0.15		%				0.70		%				0.14		%				0.02		%
WEALTH MANAGEMENT
Trust assets under management			$	3,060,836					$	2,882,919					$	2,750,803					$	2,566,784					$	2,457,471
SHARE DATA
Book value per common share			$	54.30					$	53.31					$	53.22					$	51.62					$	50.09
Tangible book value per common share1			$	42.30					$	41.38					$	41.37					$	41.58					$	40.02
Market value per share			$	65.88					$	54.11					$	54.00					$	57.98					$	55.10
Period end common shares outstanding			36,258						36,581						36,965						37,011						36,950
Average basic common shares			36,438						36,907						36,997						37,015						36,963
Average diluted common shares			36,697						37,152						37,265						37,333						37,172
CAPITAL
Total risk-based capital to risk-weighted assets2			15.0		%				13.9		%				13.9		%				14.4		%				14.7		%
Tier 1 capital to risk-weighted assets2			12.7		%				12.9		%				12.8		%				13.3		%				13.2		%
Common equity tier 1 capital to risk-weighted assets2			11.5		%				11.7		%				11.6		%				12.0		%				11.9		%
Tangible common equity to tangible assets1			9.04		%				9.01		%				9.07		%				9.60		%				9.42		%
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP.
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review.

19

ENTERPRISE FINANCIAL SERVICES CORP

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

			Quarter ended																														Six months ended
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025						Jun 30, 2026						Jun 30, 2025
CORE EFFICIENCY RATIO
Net interest income (GAAP)			$	168,716					$	166,147					$	168,174					$	158,286					$	152,762					$	334,863					$	300,278
Tax-equivalent adjustment			3,418						3,320						3,477						3,045						2,738						6,738						5,213
Noninterest income (GAAP)			13,478						19,088						25,412						48,624						20,604						32,566						39,087
Less insurance recoveries1			—						—						—						32,112						—						—						—
Less gain on sales of fixed assets			687						—						—						—						—						687						—
Less net gain (loss) on sales of investment securities			(2,146)						—						(57)						—						—						(2,146)						106
Less net gain (loss) on OREO			(302)						(295)						6,169						7						56						(597)						79
Core revenue (non-GAAP)			$	187,373					$	188,850					$	190,951					$	177,836					$	176,048					$	376,223					$	344,393
Noninterest expense (GAAP)			$	115,739					$	115,137					$	114,532					$	109,790					$	105,702					$	230,876					$	205,485
Less FDIC special assessment			—						—						(652)						—						—						—						—
Less amortization on intangibles			1,297						1,400						1,380						736						753						2,697						1,608
Less acquisition costs			—						—						2,548						609						518						—						518
Core noninterest expense (non-GAAP)			$	114,442					$	113,737					$	111,256					$	108,445					$	104,431					$	228,179					$	203,359
Core efficiency ratio (non-GAAP)			61.1		%				60.2		%				58.3		%				61.0		%				59.3		%				60.7		%				59.1		%
1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

			Quarter ended
(in thousands, except per share data)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
TANGIBLE COMMON EQUITY, TANGIBLE BOOK VALUE PER COMMON SHARE AND TANGIBLE COMMON EQUITY RATIO
Stockholders’ equity (GAAP)			$	2,040,846					$	2,022,204					$	2,039,386					$	1,982,332					$	1,922,899
Less preferred stock			71,988						71,988						71,988						71,988						71,988
Less goodwill			416,968						416,968						416,968						365,164						365,164
Less intangible assets			18,228						19,525						21,175						6,140						6,876
Tangible common equity (non-GAAP)			$	1,533,662					$	1,513,723					$	1,529,255					$	1,539,040					$	1,478,871
Less net unrealized losses on HTM securities, after tax			28,584						39,080						26,431						37,341						56,508
Tangible common equity adjusted for unrealized losses on HTM securities (non-GAAP)			$	1,505,078					$	1,474,643					$	1,502,824					$	1,501,699					$	1,422,363
Common shares outstanding			36,258						36,581						36,965						37,011						36,950
Tangible book value per common share (non-GAAP)			$	42.30					$	41.38					$	41.37					$	41.58					$	40.02
Total assets (GAAP)			$	17,399,009					$	17,227,828					$	17,300,884					$	16,402,405					$	16,076,299
Less goodwill			416,968						416,968						416,968						365,164						365,164
Less intangible assets			18,228						19,525						21,175						6,140						6,876
Tangible assets (non-GAAP)			$	16,963,813					$	16,791,335					$	16,862,741					$	16,031,101					$	15,704,259
Tangible common equity to tangible assets (non-GAAP)			9.04		%				9.01		%				9.07		%				9.60		%				9.42		%
Tangible common equity to tangible assets adjusted for unrealized losses on HTM securities (non-GAAP)			8.87		%				8.78		%				8.91		%				9.37		%				9.06		%

20

			Quarter ended																														Six months ended
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025						Jun 30, 2026						Jun 30, 2025
RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE), RETURN ON AVERAGE ASSETS (ROAA) AND DILUTED EARNINGS PER SHARE
Average stockholder’s equity (GAAP)			$	2,052,233					$	2,076,504					$	2,022,472					$	1,964,126					$	1,906,089					$	2,064,301					$	1,884,799
Less average preferred stock			71,988						71,988						71,988						71,988						71,988						71,988						71,988
Less average goodwill			416,968						416,968						414,858						365,164						365,164						416,968						365,164
Less average intangible assets			18,860						20,419						11,173						6,498						7,237						19,635						7,629
Average tangible common equity (non-GAAP)			$	1,544,417					$	1,567,129					$	1,524,453					$	1,520,476					$	1,461,700					$	1,555,710					$	1,440,018
Net income (GAAP)			$	40,927					$	49,362					$	54,794					$	45,235					$	51,384					$	90,289					$	101,345
FDIC special assessment (after tax)			—						—						(488)						—						—						—						—
Acquisition costs (after tax)			—						—						1,742						549						462						—						462
Less net gain on sales of fixed assets (after tax)			515						—						—						—						—						515						—
Less net gain (loss) on sales of investment securities (after tax)			(1,607)						—						(43)						—						—						(1,607)						80
Less net gain (loss) on OREO (after tax)			(226)						(221)						4,621						5						42						(447)						59
Net income adjusted (non-GAAP)			$	42,245					$	49,583					$	51,470					$	45,779					$	51,804					$	91,828					$	101,668
Less preferred stock dividends			937						938						937						938						937						1,875						1,875
Net income available to common stockholders adjusted (non-GAAP)			$	41,308					$	48,645					$	50,533					$	44,841					$	50,867					$	89,953					$	99,793
Return on average common equity (non-GAAP)			8.10		%				9.80		%				10.95		%				9.29		%				11.03		%				8.95		%				11.07		%
Adjusted return on average common equity (non-GAAP)			8.37		%				9.84		%				10.28		%				9.40		%				11.12		%				9.10		%				11.10		%
ROATCE (non-GAAP)			10.39		%				12.53		%				14.02		%				11.56		%				13.84		%				11.46		%				13.93		%
Adjusted ROATCE (non-GAAP)			10.73		%				12.59		%				13.15		%				11.70		%				13.96		%				11.66		%				13.97		%
Average assets			$	17,307,716					$	17,311,103					$	17,099,429					$	16,178,088					$	15,859,721					$	17,309,400					$	15,751,959
Return on average assets (GAAP)			0.95		%				1.16		%				1.27		%				1.11		%				1.30		%				1.05		%				1.30		%
Adjusted return on average assets (non-GAAP)			0.98		%				1.16		%				1.19		%				1.12		%				1.31		%				1.07		%				1.30		%
Average diluted common shares			36,697						37,152						37,265						37,333						37,172						36,926						37,224
Diluted earnings per share (GAAP)			$	1.09					$	1.30					$	1.45					$	1.19					$	1.36					$	2.39					$	2.67
Adjusted diluted earnings per share (non-GAAP)			$	1.13					$	1.31					$	1.36					$	1.20					$	1.37					$	2.44					$	2.68

			Quarter ended
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
CALCULATION OF PRE-PROVISION NET REVENUE (PPNR)
Net interest income (GAAP)			$	168,716					$	166,147					$	168,174					$	158,286					$	152,762
Noninterest income (GAAP)			13,478						19,088						25,412						48,624						20,604
FDIC special assessment			—						—						(652)						—						—
Acquisition costs			—						—						2,548						609						518
Less net loss on sales of investment securities			(2,146)						—						(57)						—						—
Less net gain (loss) on OREO			(302)						(295)						6,169						7						56
Less gain on sales of fixed assets			687						—						—						—						—
Less insurance recoveries			—						—						—						32,112						—
Less noninterest expense (GAAP)			115,739						115,137						114,532						109,790						105,702
PPNR (non-GAAP)			$	68,216					$	70,393					$	74,838					$	65,610					$	68,126

21

			At
($ in thousands)			Jun 30, 2026						Mar 31, 2026						Dec 31, 2025						Sep 30, 2025						Jun 30, 2025
ALLOWANCE TO LOANS RATIO EXCLUDING GUARANTEED LOANS
Loans (GAAP)			$	11,892,399					$	11,692,780					$	11,800,338					$	11,583,109					$	11,408,840
Less guaranteed loans			939,255						935,409						960,132						922,168						913,118
Adjusted loans (non-GAAP)			$	10,953,144					$	10,757,371					$	10,840,206					$	10,660,941					$	10,495,722
Allowance for credit losses			$	139,238					$	142,064					$	140,022					$	148,854					$	145,133
Allowance for credit losses/loans (GAAP)			1.17		%				1.21		%				1.19		%				1.29		%				1.27		%
Allowance for credit losses/adjusted loans (non-GAAP)			1.27		%				1.32		%				1.29		%				1.40		%				1.38		%

22

Exhibit 99.2 Enterprise Financial Services Corp 2026 Second Quarter Earnings Webcast

2 Some of the information in this report may contain “forward-looking statements” within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include projections based on management’s current expectations and beliefs concerning future developments and their potential effects on Enterprise Financial Services Corp (the “Company” or “EFSC”) including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, stockholder value creation and the impact of acquisitions. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “pro forma,” “pipeline” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the forward-looking statements and future results could differ materially from historical performance. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: our ability to efficiently integrate acquisitions into our operations, retain the customers of these businesses and grow the acquired operations; our ability to collect insurance proceeds from claims made related to tax recapture events; credit risk; changes in the appraised valuation of real estate securing impaired loans; outcomes of litigation and other contingencies; exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget and tax matters (including the effect of a prolonged U.S. federal government shutdown), and any slowdown in global economic growth; risks associated with rapid increases or decreases in prevailing interest rates; our ability to attract and retain deposits and access to other sources of liquidity; changes in business prospects that could impact goodwill estimates and assumptions; consolidation within the banking industry; competition from banks and other financial institutions; the ability to attract and retain relationship officers and other key personnel; burdens imposed by federal and state regulation; changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on our revenue and business, including rules and regulations relating to bank products and financial services; changes in accounting policies and practices or accounting standards; natural disasters (including wildfires and earthquakes); terrorist activities, war and geopolitical matters (including in Israel, Iran and Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which we operate, including the related disruption to the financial market and other economic activity; and those factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s other filings with the SEC. The Company cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Company’s results. For any forward-looking statements made in this press release or in any documents, EFSC claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Annualized, pro forma, projected and estimated numbers in this document are used for illustrative purposes only, are not forecasts and may not reflect actual results. Readers are cautioned not to place undue reliance on any forward-looking statements. Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revision or update to any of the forward-looking statements included herein to reflect events or circumstances that occur after the date on which such statements were made. Forward-Looking Statements

3 Financial Highlights - 2Q26* Capital • Tangible Common Equity/Tangible Assets** 9.04%, compared to 9.01% • Tangible Book Value Per Common Share** $42.30, compared to $41.38 • CET1 Ratio 11.5%, compared to 11.7% • Issued $175.0 million of 6.25% fixed-to-floating rate subordinated notes due in 2036 • Quarterly common stock dividend of $0.34 per share in second quarter 2026 ($0.01 increase) • Quarterly preferred stock dividend of $12.50 per share ($0.3125 per depositary share) • Returned $22.9 million to stockholders through common stock repurchases • Net Income $40.9 million, down $8.4 million; EPS $1.09 • Net Interest Income $168.7 million, up $2.6 million; NIM 4.30% • PPNR** $68.2 million, down $2.2 million • ROAA 0.95%, compared to 1.16%; PPNR ROAA** 1.58%, compared to 1.65% • ROATCE** 10.39%, compared to 12.53% Earnings *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

4 Financial Highlights, continued - 2Q26* Loans & Deposits • Loans $11.9 billion, up $199.6 million • Loan/Deposit Ratio 82.0% • Deposits $14.5 billion, down $21.8 million • Noninterest-bearing Deposits/Total Deposits 34% Asset Quality • Nonperforming Loans/Loans 0.64% • Nonperforming Assets/Assets 0.92% • Allowance Coverage Ratio 1.17%; 1.27% adjusted for guaranteed loans** • Net Charge-Offs $13.6 million *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation.

5 2026 Priorities Improve Asset Quality • Reduce criticized and classified loans • Reduce nonperforming assets • Focused credit underwriting and monitoring Leverage Technology to Enhance Productivity and Efficiency • Expand use of existing technology framework • Evaluate business automation opportunities • Integrate manual procedures into automated workflow processes Organic Loan and Deposit Growth • Disciplined pricing • Expand existing relationships and new client acquisitions • Leverage investment in sales associates

6 Loan Details 2Q26** 1Q26** 2Q25 Qtr Change LTM Change C&I $ 2,628 $ 2,655 $ 2,317 $ (27) $ 311 CRE Investor Owned 2,903 2,763 2,548 140 355 CRE Owner Occupied 1,422 1,453 1,282 (31) 140 SBA loans* 1,237 1,231 1,249 6 (12) Sponsor Finance* 709 662 771 47 (62) Life Insurance Premium Financing* 1,250 1,208 1,156 42 94 Tax Credits* 725 702 708 23 17 Residential Real Estate 356 341 357 15 (1) Construction and Land Development 609 622 773 (13) (164) Consumer*** 53 56 248 (3) (195) Total Loans $ 11,892 $ 11,693 $ 11,409 $ 199 $ 483 *Specialty loan category. **Branch acquisition completed in October 2025. ***Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted. $ In Millions

7 Loans By Region Specialty Lending $4,141 $4,076 $4,249 2Q25 1Q26* 2Q26* $ In Millions Midwest $3,186 $3,352 $3,277 2Q25 1Q26* 2Q26* Southwest $1,890 $2,345 $2,415 2Q25 1Q26* 2Q26* Excludes “Consumer” loans; Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California); *Branch acquisition completed in October 2025. West $1,944 $1,864 $1,898 2Q25 1Q26* 2Q26*

8 Deposit Details 2Q26* 1Q26* 2Q25 Qtr Change LTM Change Noninterest-bearing demand accounts $ 4,910 $ 4,828 $ 4,322 $ 82 $ 588 Interest-bearing demand accounts 3,407 3,396 3,185 11 222 Money market accounts 3,945 4,059 3,676 (114) 269 Savings accounts 538 551 533 (13) 5 Certificates of deposit: Brokered 736 725 752 11 (16) Customer 967 965 849 2 118 Total Deposits $ 14,503 $ 14,524 $ 13,317 $ (21) $ 1,186 Deposit Verticals (included in total deposits)** $ 4,064 $ 4,002 $ 3,585 $ 62 $ 479 $ In Millions * Branch acquisition completed in October 2025 ** Total deposits excluding Deposit Verticals and brokered CDs decreased $94 million from 1Q26 and increased $723 million from 2Q25

9 Deposits By Region Deposit Verticals $3,585 $4,002 $4,064 2Q25 1Q26** 2Q26** $ In Millions Region Components: Midwest (St. Louis & Kansas City), Southwest (AZ, NM, Las Vegas, TX), West (Southern California) *Includes brokered balances **Branch acquisition completed in October 2025. Midwest* $6,340 $6,621 $6,558 2Q25 1Q26** 2Q26** West* $1,333 $1,277 $1,220 2Q25 1Q26** 2Q26** Southwest $2,059 $2,624 $2,661 2Q25 1Q26** 2Q26**

10 Differentiated Deposit Verticals Community Associations 38.6% Property Management 42.3% Legal Industry and Escrow Services 19.1% Community Associations $1.6 billion in deposit accounts specifically designed to serve the needs of community associations. Property Management $1.7 billion in deposits. Specializing in the compliance of Property Management Trust Accounts. Legal Industry and Escrow Services $777 million in deposits. Product lines providing services to independent escrow and non- depository trust companies. • $4.06 billion - 28% of total deposits • $4.16 billion - Average deposits for 2Q26 • $27.8 million - Related deposit costs in noninterest expense, resulting in an average deposit vertical cost of 2.69% in 2Q26 • $132.7 million - Average Deposits per Branch for FDIC Insured Banks with a deposit portfolio between $5-20B* ◦ 31 - The national deposit vertical portfolio is the equivalent of 31 traditional bank branches *Data Source: Deposit data as of June 30th, 2025, per the FDIC Summary of Deposits. 2Q25 3Q25 4Q25 1Q26 2Q26 Community Associations Property Management Legal Industry and Escrow Services $— $500 $1,000 $1,500 $2,000 $ In Millions

11 Core Funding Mix Commercial Business Banking Consumer $ In Millions Note: Brokered deposits were $982.2 million at 2Q26; 3.51% cost of funds Deposit Verticals 2Q26 Total Portfolio Average Account Size & Cost of Funds COMMERCIAL BUSINESS BANKING CONSUMER DEPOSIT VERTICALS Average account size ($ in thousands) 2Q26 $ 341 $ 78 $ 23 $ 99 1Q26 $ 326 $ 84 $ 24 $ 102 2Q25 $ 325 $ 81 $ 23 $ 104 Cost of funds 2Q26 2.00 % 1.05 % 1.38 % 0.58 % 1Q26 1.96 % 1.26 % 1.39 % 0.61 % 2Q25 2.21 % 1.35 % 1.53 % 0.87 % • ~80% of commercial deposits utilize Treasury Management services • ~90% of checking and savings accounts utilize online banking services • ~60% of commercial deposits have a lending relationship Overview 27% 35% 34% 41% 32% 18% 7% 6% 29% 27% 17% 20% 68% 7% 23% $4,959 $4,064$2,794$1,704 DDA IB DDA MMA SAV CD 1 yr or less CD > 1 yr

12 Earnings Per Share Trend - 2Q26 $1.30 $0.06 $(0.12) $(0.15) $(0.01) $0.01 $1.09 1Q26 Net Interest Income Noninterest Income Provision for Credit Losses Noninterest Expense Change in Shares 2Q26 Change in Diluted EPS

13 $152.8 $158.3 $168.2 $166.1 $168.7 4.21% 4.23% 4.26% 4.28% 4.30%4.33% 4.30% 3.90% 3.64% 3.63% Net Interest Income Net Interest Margin Avg Fed Funds Rate 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income Trend $ In Millions Net Interest Income 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income - FTE $ 155.5 $ 161.3 $ 171.7 $ 169.5 $ 172.1 Purchase Accounting Amortization/(Accretion) 0.4 0.6 (0.2) (0.5) (0.7) Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) $ 155.9 $ 161.9 $ 171.5 $ 169.0 $ 171.4 Net Interest Margin 4.21 % 4.23 % 4.26 % 4.28 % 4.30 % Purchase Accounting Amortization/(Accretion) 0.01 % 0.02 % 0.00 % (0.01) % (0.02) % Adjusted Net Interest Income - FTE (Excluding Purchase Accounting) 4.22 % 4.25 % 4.26 % 4.27 % 4.28 %

14 Net Interest Margin 6.64% 6.64% 6.51% 6.38% 6.43% 3.86% 3.93% 4.02% 4.13% 4.21% 6.00% 5.99% 5.86% 5.77% 5.82% Earning asset yield Securities yield Loan yield 2Q25 3Q25 4Q25 1Q26 2Q26 2.70% 2.67% 2.46% 2.31% 2.30% 1.82% 1.80% 1.64% 1.52% 1.53% 2.81% 2.77% 2.52% 2.37% 2.39% Interest-bearing deposit rate Total cost of deposits Interest-bearing liabilities 2Q25 3Q25 4Q25 1Q26 2Q26 Components of Interest-bearing LiabilitiesComponents of Interest-earning Assets 4.28% 0.04% 0.03% (0.04)% (0.01)% 4.30% 1Q26 Loans Securities Funding Mix Deposits 2Q26 Margin Bridge

15 2 14 70 15 46 2Q25 3Q25 4Q25 1Q26 2Q26 $110 $174 $(75) $(108) $200 $292 45.9% 45.0% 43.9% 44.7% 46.7% Organic Loans Acquired Loans Avg Line Draw % 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 1Q26 2Q26 NPLs/Loans 0.93 % 0.56 % 0.64 % NPAs/Assets 0.71 % 0.87 % 0.92 % ACL/NPLs 137.2 % 218.8 % 182.9 % ACL/Loans** 1.38 % 1.32 % 1.27 % Annualized Net Charge-Offs to Average Loans Provision for Credit Losses* $3.5 $8.4 $9.2 $7.2 $14.2 2Q25 3Q25 4Q25 1Q26 2Q26 $ In Millionsbps bps bps bps bps $ In Millions Loan Growth and Average Line of Credit Utilization *Includes credit loss expense on loans, investments and unfunded commitments. **Excludes guaranteed loans. A Non-GAAP Measure, Refer to Appendix for Reconciliation. Credit Trends

16 $142.1 $10.7 $(13.6) $139.2 ACL 1Q26 Portfolio Changes Net Charge-offs ACL 2Q26 Allowance for Credit Losses on Loans $ In Millions • New loans and changes in composition of existing loans • Changes in risk ratings, past due status and reserves on individually evaluated loans • Changes in macroeconomic and qualitative factors $ In Millions 2Q26 Loans ACL ACL as a % of Loans Commercial and industrial $ 5,258 $ 77 1.46 % Commercial real estate 5,557 42 0.76 % Construction real estate 663 12 1.81 % Residential real estate 361 7 1.94 % Consumer 53 1 1.89 % Total $ 11,892 $ 139 1.17 % Reserves on sponsor finance, agricultural, and investor office CRE loans, which are included in the categories above, represented $31.6 million, $4.2 million, and $5.5 million, respectively. Total ACL as a percentage of loans excluding $939.3 million of government guaranteed loans was 1.27%*. Key Assumptions: • Reasonable and supportable forecast period is one year with a one year reversion period. • Forecast considers a weighted average of baseline, upside and downside scenarios. • Primary macroeconomic factors: ◦ Percentage change in GDP ◦ Unemployment ◦ Percentage change in Retail Sales ◦ Percentage change in CRE Index *A Non-GAAP Measure, Refer to Appendix for Reconciliation.

17 Noninterest Income Trend $20.6 $48.6 $25.4 $19.1 $13.5 $8.5 $6.8 $11.9 $8.8 $4.4 $32.1 $2.2 $(0.3) $3.2 $(0.2) $(1.7) $4.9 $4.9 $5.1 $5.3 $5.5 $2.4 $2.5 $2.6 $2.5 $2.5 $2.6 $2.6 $2.6 $2.7 $2.8 11.9% 23.5% 13.1% 10.3% 7.4% Other income Recaptured tax credit insurance proceeds* Tax credit income (loss) Deposit service charges Card services revenue Wealth management revenue Noninterest income/Total income 2Q25 3Q25 4Q25 1Q26 2Q26 $8.5 $6.8 $11.9 $8.8 $4.4 $2.1 $1.8 $2.2 $1.8 $3.1 $0.5 $0.6 $0.5 $0.4 $0.5 $2.6 $2.1 $1.9 $2.5 $2.4 $0.1 $0.3 $0.1 $0.1 $0.1$1.4 $0.3 $0.9 $1.1 $0.4 $0.5 $0.6 $0.2 $1.8 $0.3 $0.1 $6.2 $(0.3) $(0.3) $1.2 $1.1 $1.4 $(0.1) $(2.1) Miscellaneous income Servicing fees BOLI Swap fees CDE Private equity fund distribution Net gain (loss) on OREO Gain on SBA loan sales Net loss on sales of investment securities 2Q25 3Q25 4Q25 1Q26 2Q26 $ In Millions Noninterest Income Other Noninterest Income Detail *Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

18 Noninterest Expense Trend Noninterest Expense $ In Millions $25.1 $27.5 $28.6 $27.4 $28.9 $0.5 $0.6 $2.5 $24.8 $27.2 $27.5 $26.0 $27.8 $5.1 $4.9 $5.8 $5.9 $5.9 $50.2 $49.6 $50.1 $55.8 $53.1 59.3% 61.0% 58.3% 60.2% 61.1% $105.7 $109.8 $114.5 $115.1 $115.7 Other expense Acquisition costs Deposit costs Occupancy Employee compensation and benefits Core efficiency ratio* 2Q25 3Q25 4Q25 1Q26 2Q26 $25.1 $27.5 $28.6 $27.4 $28.9 $11.4 $12.6 $12.8 $11.3 $11.7 $4.8 $5.0 $5.2 $5.6 $6.0 $1.5 $2.2 $2.3 $1.6 $2.0 $3.4 $3.6 $3.2 $3.5 $4.0 $3.2 $3.4 $3.7 $4.0 $3.9 $0.8 $0.7 $1.4 $1.4 $1.3 Miscellaneous expense Data processing Professional fees FDIC and other insurance Loan, legal expenses Amortization expense 2Q25 3Q25 4Q25 1Q26 2Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. Other Noninterest Expense Detail

19 Capital Tangible Common Equity/Tangible Assets 9.42% 9.60% 9.07% 9.01% 9.04% Tangible Common Equity/Tangible Assets* 2Q25 3Q25 4Q25 1Q26 2Q26 *A Non-GAAP Measure, Refer to Appendix for Reconciliation. **Preliminary regulatory capital ratios. Regulatory Capital 10.0% 14.7% 14.4% 13.9% 13.9% 15.0% 6.5% 11.9% 12.0% 11.6% 11.7% 11.5% CET1 Tier 1 Total Risk Based Capital Minimum "Well Capitalized" Ratio 2Q25 3Q25 4Q25 1Q26 2Q26 8.0% 13.2% 13.3% 12.8% 12.9% EFSC Capital Strategy: Low Cost - Highly Flexible High Capital Retention Rate – Strong earnings profile – Sustainable dividend profile Supporting Robust Asset Growth – Organic loan and deposit growth – High quality M&A to enhance commercial franchise and geographic diversification Maintain High Quality Capital Stack – Minimize WACC over time (preferred, sub debt, etc.) – Optimize capital levels CET1 ~10%, Tier 1 ~12%, and Total Capital ~14% – $175 million aggregate principal amount of 6.25% fixed-to-floating rate subordinated notes issued during 2Q26 Maintain 8-9% TCE – Common stock repurchases – 382,083 shares repurchased at an average price of $59.93 during 2Q26 – M&A deal structures – Drives ROATCE above peer levels TBV and Dividends per Share $40.02 $41.58 $41.37 $41.38 $42.30 $0.30 $0.31 $0.32 $0.33 $0.34 TBV/Share* Dividends per Share 2Q25 3Q25 4Q25 1Q26 2Q26 12.7% **

Appendix

21 Investment Portfolio Breakout AFS & HTM Securities Obligations of U.S. Government- sponsored enterprises 3% Obligations of states and political subdivisions 39% Agency mortgage- backed securities 52% Corporate debt securities 3% U.S. Treasury bills 3% TOTAL $3.8 billion • Effective duration of 5.0 years balances the short 3-year duration of the loan portfolio • Cash flows next 12 months of approximately $645.8 million • 4.21% tax-equivalent yield • Municipal bond portfolio rated A or better • Laddered maturity and repayment structure for consistent cash flows Overview Total AFS (Fair Value) Total HTM (Fair Value) AFS Securities (Net Unrealized Loss) HTM Securities (Net Unrealized Loss) 2Q25 3Q25 4Q25 1Q26 2Q26 $— $1,000 $2,000 $3,000 $(200) $(100) $— $100 $ In Millions $348.6 $226.6 $575.8 $206.2 $437.5 5.30% 4.99% 4.61% 4.51% 5.03% Principal Cost Yield (TEQ) 2Q25 3Q25 4Q25 1Q26 2Q26 Investment Purchase Yield $ In Millions Investment Portfolio

22 EFSC Borrowing Capacity $6.7 $6.9 $6.6 $1.6 $1.5 $1.2 $3.0 $3.1 $3.0 $0.1 $0.1 $0.1 $2.0 $2.2 $2.3 46% 47% 46% FHLB borrowing capacity FRB borrowing capacity Fed Funds lines Unpledged securities Borrowing capacity/Deposits 4Q25 1Q26 2Q26 $ In Billions End of Period and Average Loans to Deposits 86% 85% 81% 81% 82%86% 84% 81% 81% 81% End of period Loans/Deposits Avg Loans/Avg Deposits 2Q25 3Q25 4Q25 1Q26 2Q26 • $1.2 billion available FHLB capacity • $3.0 billion available FRB capacity • $135.0 million in eight federal funds lines • $2.3 billion in unpledged investment securities • $552.1 million cash • $25.0 million available line of credit • Portfolio of saleable SBA loans • Investment portfolio/total assets of 22% • FHLB maximum credit capacity is 45% of assets $0.6 $0.5 $0.5 $0.4 $0.4 $0.6 $1.1 $1.6 $2.0 $2.4 Annual Cash Flows Cumulative Cash Flows 2026 2027 2028 2029 2030 Investment Portfolio Cash Flows* $ In Billions Strong Liquidity Profile *Trailing 12 months ending June 30 of each year Liquidity

23 Office CRE (Non-owner Occupied) Total $579.0 million Midwest 38.4% Southwest 37.6% West 19.5% Specialty 4.5% Office CRE Loans by Location Real Estate/ Rental/Leasing 87.8% Health Care and Social Assistance 3.7% Other 8.5% Office CRE Loans by Industry Type Size Average Risk Rating Number of Loans Balance Average Balance > $10 Million 5.44 16 $ 230.7 $ 14.4 $5-10 Million 5.36 14 94.1 6.7 $2-5 Million 5.43 47 150.7 3.2 < $2 Million 5.35 192 103.5 0.5 Total 5.37 269 $ 579.0 $ 2.2 Office CRE Loans by Size $ In Millions • Average loan-to-origination value 52% • 71% of loans have recourse to owners • Average debt-service coverage ratio (DSCR) of 1.52x • Average market occupancy of 88%; average rents of $24 psf • 42% Class A, 54% Class B, 4% Class C • $51.8 million unfunded commitments 23

24 Use of Non-GAAP Financial Measures The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, in this release that are considered “non-GAAP financial measures.” Generally, a non-GAAP financial measure is a numerical measure of a company’s financial performance, financial position, or cash flows that exclude (or include) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. The Company considers its tangible common equity, PPNR, ROATCE, allowance coverage ratio adjusted for guaranteed loans, PPNR return on average assets (“PPNR ROAA”), core efficiency ratio, tangible common equity to tangible assets, and tangible book value per common share, collectively “core performance measures,” presented in this earnings release and the included tables as important measures of financial performance, even though they are non-GAAP measures, as they provide supplemental information by which to evaluate the impact of certain non-comparable items, and the Company’s operating performance on an ongoing basis. Core performance measures exclude certain other income and expense items, such as the FDIC special assessment, acquisition costs, accrued insurance proceeds anticipated to be received as a result of recaptured tax credits, the net gain or loss on sales of fixed assets, the net gain or loss on other real estate owned (“OREO”), and the net gain or loss on sales of investment securities, that the Company believes to be not indicative of or useful to measure the Company’s operating performance on an ongoing basis. The attached tables contain a reconciliation of these core performance measures to the GAAP measures. The Company believes that the tangible common equity ratio provides useful information to investors about the Company’s capital strength even though it is considered to be a non-GAAP financial measure and is not part of the regulatory capital requirements to which the Company is subject. The Company believes these non-GAAP measures and ratios, when taken together with the corresponding GAAP measures and ratios, provide meaningful supplemental information regarding the Company’s performance and capital strength. The Company’s management uses, and believes that investors benefit from referring to, these non-GAAP measures and ratios in assessing the Company’s operating results and related trends and when forecasting future periods. However, these non-GAAP measures and ratios should be considered in addition to, and not as a substitute for or preferable to, ratios prepared in accordance with GAAP. In the attached tables, the Company has provided a reconciliation of, where applicable, the most comparable GAAP financial measures and ratios to the non-GAAP financial measures and ratios, or a reconciliation of the non-GAAP calculation of the financial measures for the periods indicated.

25 Reconciliation of Non-GAAP Financial Measures At ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 STOCKHOLDERS’ EQUITY TO TANGIBLE COMMON EQUITY, TOTAL ASSETS TO TANGIBLE ASSETS, TANGIBLE BOOK VALUE PER COMMON SHARE, AND TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS Stockholders’ equity (GAAP) $ 2,040,846 $ 2,022,204 $ 2,039,386 $ 1,982,332 $ 1,922,899 Less preferred stock 71,988 71,988 71,988 71,988 71,988 Less goodwill 416,968 416,968 416,968 365,164 365,164 Less intangible assets 18,228 19,525 21,175 6,140 6,876 Tangible common equity (non-GAAP) $ 1,533,662 $ 1,513,723 $ 1,529,255 $ 1,539,040 $ 1,478,871 Common shares outstanding 36,258 36,581 36,965 37,011 36,950 Tangible book value per common share (non-GAAP) $ 42.30 $ 41.38 $ 41.37 $ 41.58 $ 40.02 Total assets (GAAP) $ 17,399,009 $ 17,227,828 $ 17,300,884 $ 16,402,405 $ 16,076,299 Less goodwill 416,968 416,968 416,968 365,164 365,164 Less intangible assets 18,228 19,525 21,175 6,140 6,876 Tangible assets (non-GAAP) $ 16,963,813 $ 16,791,335 $ 16,862,741 $ 16,031,101 $ 15,704,259 Tangible common equity to tangible assets (non-GAAP) 9.04 % 9.01 % 9.07 % 9.60 % 9.42 % Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 PRE-PROVISION NET REVENUE (PPNR) AND PPNR RETURN ON AVERAGE ASSETS (PPNR ROAA) Net interest income (GAAP) $ 168,716 $ 166,147 Noninterest income (GAAP) 13,478 19,088 Less gain on sales of fixed assets 687 — Less net loss on sales of investment securities (2,146) — Less net loss on OREO (302) (295) Less noninterest expense (GAAP) 115,739 115,137 PPNR (non-GAAP) $ 68,216 $ 70,393 Average assets $ 17,307,716 $ 17,311,103 PPNR ROAA (non-GAAP) 1.58 % 1.65 %

26 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE) Average stockholder’s equity (GAAP) $ 2,052,233 $ 2,076,504 Less average preferred stock 71,988 71,988 Less average goodwill 416,968 416,968 Less average intangible assets 18,860 20,419 Average tangible common equity (non-GAAP) $ 1,544,417 $ 1,567,129 Net income available to common stockholders (GAAP) $ 39,990 $ 48,424 ROATCE (non-GAAP) 10.39 % 12.53 % At ($ in thousands) June 30, 2026 March 31, 2026 June 30, 2025 ALLOWANCE COVERAGE RATIO ADJUSTED FOR GUARANTEED LOANS Loans (GAAP) $ 11,892,399 $ 11,692,780 $ 11,408,840 Less guaranteed loans 939,255 935,409 913,118 Adjusted loans (non-GAAP) $ 10,953,144 $ 10,757,371 $ 10,495,722 Allowance for credit losses $ 139,238 $ 142,064 $ 145,133 Allowance for credit losses/loans (GAAP) 1.17 % 1.21 % 1.27 % Allowance for credit losses/adjusted loans (non-GAAP) 1.27 % 1.32 % 1.38 %

27 Reconciliation of Non-GAAP Financial Measures Quarter ended ($ in thousands) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 CORE EFFICIENCY RATIO Net interest income (GAAP) $ 168,716 $ 166,147 $ 168,174 $ 158,286 $ 152,762 Tax-equivalent adjustment 3,418 3,320 3,477 3,045 2,738 Noninterest income (GAAP) 13,478 19,088 25,412 48,624 20,604 Less insurance recoveries1 — — — 32,112 — Less gain on sales of fixed assets 687 — — — — Less net loss on sales of investment securities (2,146) — (57) — — Less net gain (loss) on OREO (302) (295) 6,169 7 56 Core revenue (non-GAAP) $ 187,373 $ 188,850 $ 190,951 $ 177,836 $ 176,048 Noninterest expense (GAAP) $ 115,739 $ 115,137 $ 114,532 $ 109,790 $ 105,702 Less FDIC special assessment — — (652) — — Less amortization on intangibles 1,297 1,400 1,380 736 753 Less acquisition costs — — 2,548 609 518 Core revenue (non-GAAP) $ 114,442 $ 113,737 $ 111,256 $ 108,445 $ 104,431 Core efficiency ratio (non-GAAP) 61.1 % 60.2 % 58.3 % 61.0 % 59.3 % 1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-991 EARNINGS RELEASE 1.3 MB
• EX-99.2 WEBCAST SLIDES 48.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.7 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 26.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 15.2 KB