Articles from Enterprise Financial Services Corp

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), today announced financial results for the first quarter of 2025. “EFSC’s first quarter results were a positive start to 2025,” said Jim Lally, President and Chief Executive Officer. “Our proactive management of the balance sheet and cost of deposits has led to expansion in both net interest income and NIM. Strong earnings resulted in a 1.30% ROAA and a 14.02% ROATCE. We were also excited to announce the acquisition of 10 branches in Arizona and two branches in Kansas from First Interstate Bank. This is an attractive deposit franchise that will strengthen our position and allow us to accelerate growth in two of our existing markets.”

Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp (Nasdaq: EFSC), today announced several changes to its executive leadership team that will become effective later this year as part of the bank’s ongoing growth and succession planning.

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its first quarter 2025 financial results on Monday, April 28, 2025. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, April 29, 2025.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company”) announced today that the following directors serving on the Company’s Board of Directors (the “Board”) will not be standing for re-election at the upcoming 2025 Annual Meeting of Stockholders (the “Annual Meeting”): Robert E. Guest, Jr., James M. Havel, Daniel A. Rodriguez and Eloise E. Schmitz.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), commented, “I am pleased that a continued focus on clients, associates, and our diversified business model has resulted in strong fourth quarter and full year 2024 financial results. These results, along with share repurchases and an increased common stock dividend, demonstrate our commitment to driving long-term shareholder value.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its fourth quarter 2024 financial results on Monday, January 27, 2025. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, January 28, 2025.

Enterprise Financial Services Corp (Nasdaq: EFSC) today announced the appointment of Michael E. Finn as director of Enterprise Financial Services Corp (the “Company”) and its wholly owned subsidiary, Enterprise Bank & Trust, effective immediately.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s third quarter earnings, “We are proud of our third quarter results, with a stable net interest margin, expansion in net interest income and an 11% increase in diluted earnings per share over the linked quarter. Our consistent return profile increased tangible book value per share 25% on an annualized basis from the linked quarter, and 20% over the prior year’s third quarter. With the strength of our balance sheet and capital position as a foundation, I believe we are well positioned to continue executing on the opportunities within our markets.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its third quarter 2024 financial results on Monday, October 21, 2024. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, October 22, 2024.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s second quarter earnings, “I was very pleased with our second quarter results, including our strong asset quality and the growth in operating revenue, customer deposits, and tangible common equity. We had a return on average assets of 1.25% and a return on tangible common equity of 13.8%. These returns increased our tangible book value per share by 10% on an annualized basis this quarter. Over the past 10 years, we have produced a compounded annual growth rate of 10% on our tangible book value per share. With the strength of our balance sheet and our solid return profile, we opportunistically repurchased over $8 million of common stock and announced another increase to our quarterly dividend.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its second quarter 2024 financial results on Monday, July 22, 2024. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, July 23, 2024.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s first quarter earnings, “Our first quarter results were fundamentally sound and 2024 is off to a good start. Customer activity remains robust, and our loan and deposit pipelines are strong. We had a return on average assets of 1.12% and grew tangible common equity to over 9% of tangible assets. Credit quality metrics are stable and we continue to maintain an appropriate reserve level. We are excited about the opportunities in our markets and are optimistic for the remainder of the year.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its first quarter 2024 financial results on Monday, April 22, 2024. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, April 23, 2024.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), commented, “I am pleased with how strong we finished 2023, although we unfortunately had an elevated level of charge-offs in the fourth quarter, with the largest charge-off attributable to a single agricultural relationship. This relationship had specific aspects that drove the loss that we believe is an isolated issue.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its fourth quarter 2023 financial results on Monday, January 22, 2024. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, January 23, 2024.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s third quarter earnings, “We had strong third quarter operating results with earnings per share of $1.17, a net interest margin of 4.33%, and a return on average assets of 1.26%. In a challenging environment, we continued to expand net interest income while strengthening liquidity and increasing our customer base. In line with our expectations, loan growth moderated this quarter, and we successfully increased customer deposits and reduced wholesale funding. The strength of our balance sheet and operating revenue has us well-positioned to continue delivering long-term shareholder value.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its third quarter 2023 financial results on Monday, October 23, 2023. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, October 24, 2023.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s second quarter earnings, “I am pleased with our strong financial performance in the second quarter and our associates continued commitment to our customers and communities. We had significant loan growth across our geographic regions and business lines, building on the momentum from the first quarter. This increase in average loans has helped accelerate interest income to mitigate the effect of rising deposit interest expense. We remain focused on executing our strategic initiatives, including a focus on customer engagement and onboarding to support deposit growth and operational efficiencies.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its second quarter 2023 financial results on Monday, July 24, 2023. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, July 25, 2023. The conference call will be accessible by telephone at 1-888-550-5279 (Conference ID 7004515). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC2Q2023earnings. The replay will be available for at least two weeks following the conference call.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s first quarter earnings, “We delivered strong results in the first quarter, with high quality loan growth, enhanced liquidity and an improved capital position. In a competitive and challenging environment, we have continued to serve our customers with products and relationship-based services that meet their needs, driving a $75 million increase in customer deposits in the first quarter. Our focus in these areas resulted in a return on assets of 1.7% and a return on tangible common equity1 of 20% for the first quarter. As we look to the remainder of 2023, we believe the strength of our balance sheet and our diversified business model have us well positioned.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its first quarter 2023 financial results on Monday, April 24, 2023. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, April 25, 2023. The conference call will be accessible by telephone at 1-888-550-5279 (Conference ID 7004515). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC1Q2023earnings. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) announced today that John Eulich is retiring from the Board of Directors (the “Board”) of Enterprise Financial Services Corp (the “Company”) and Enterprise Bank & Trust (the “Bank”) pursuant to the Company’s retirement policy. Mr. Eulich has served as Chairperson of the Board since 2016, a member of the Board since 2010 and a member of the Bank’s Board of Directors (the “Bank Board”) since 2009. Mr. Eulich will not stand for re-election at the Company’s 2023 Annual Meeting of Shareholders (the “Annual Meeting”)) and will retire immediately following the upcoming Annual Meeting. Michael DeCola, Vice-Chairperson of the Company’s Board of Directors has been designated by the Board to succeed Mr. Eulich as Chairperson of the Board following the Annual Meeting.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), commented, “We finished 2022 with strong financial results in the fourth quarter and the full year. Our performance is a result of our commitment to building partnerships with our clients, the execution of our strategic initiatives and our diversified business platform. We reported earnings per share (“EPS”) of $1.58 for the fourth quarter and $5.31 for 2022, both of which are records for the Company. We also achieved loan growth of 16% and 8% for the fourth quarter, annualized, and full year, respectively. Our record earnings in the fourth quarter resulted in a 1.83% return on average assets and a 22.62% return on average tangible common equity.1 For the full year, we had a 1.52% return on average assets and a 19.10% return on average tangible common equity.1 As we look to 2023, we are excited for the opportunity to continue the strong momentum we built during 2022.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its fourth quarter 2022 financial results on Monday, January 23, 2023. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, January 24, 2023. The conference call will be accessible by telephone at 1-888-550-5279 (Conference ID #7004515). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC4Q2022. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) today announced the appointment of Lyne B. Andrich, Marcela Manjarrez and Lina A. Young as directors of Enterprise Financial Services Corp (the “Company”) and its wholly owned subsidiary, Enterprise Bank & Trust, effective immediately.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s third quarter earnings, “Our results for the third quarter continued the momentum we established early in the year and reflects the strength of our diversified franchise. We grew loans, maintained liquidity, expanded net interest income, and reported near record earnings. We continue to be pleased with the credit quality of our loan portfolio and our solid capital position. We believe we are well positioned to finish the year with strong performance.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its third quarter 2022 financial results on Monday, October 24, 2022. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, October 25, 2022. The conference call will be accessible by telephone at 1-888-550-5279 (Conference ID #7004515). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC3Q2022. The replay will be available for approximately two weeks following the conference call.

Jim Lally, President and Chief Executive Officer of Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”), said today upon the release of EFSC’s second quarter earnings, “Our execution propelled double-digit loan growth on an annualized basis, building on the strong foundation that was established in the first quarter. Loan growth was diversified across our business lines and reflects the strength of the targeted investments we have made. Our organic growth, coupled with our well-positioned balance sheet, accelerated operating revenue which resulted in a nearly 18% return on average tangible common equity3 for the quarter. I am proud of what we have accomplished so far this year, as it demonstrates the power of the franchise we have built and expanded upon in recent years.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its second quarter 2022 financial results on Monday, July 25, 2022. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, July 26, 2022. The conference call will be accessible by telephone at 1-888-550-5279 (Conference ID #7004515). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC2Q2022. The replay will be available for approximately two weeks following the conference call.

The Board of Directors of Enterprise Financial Services Corp (Nasdaq: EFSC) authorized a new share repurchase program of up to 2,000,000 shares of common stock (“2022 Share Repurchase Program”). Jim Lally, President and Chief Executive Officer, commented, “The Board’s approval of the new repurchase plan reflects the strength of the Company’s earnings trends, balance sheet and capital position. Since January 2021, we have returned over $93 million to common shareholders through share repurchases.”

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) reported net income of $47.7 million for the first quarter 2022, a decrease of $3.1 million compared to the linked fourth quarter (“linked quarter”) and an increase of $17.8 million from the prior year quarter. Earnings per diluted common share (“EPS”) was $1.23 for the first quarter 2022, compared to $1.33 and $0.96 for the linked and prior year quarters, respectively.

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its first quarter 2022 financial results on Monday, April 25, 2022. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, April 26, 2022. The conference call will be accessible by telephone at 1-888-394-8218 (Conference ID #3278323). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC1Q2022. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) reported net income of $50.8 million for the fourth quarter 2021, an increase of $36.9 million and $21.9 million compared to the linked third quarter (“linked quarter”) and prior year quarter, respectively. Earnings per diluted share (“EPS”) were $1.33 for the fourth quarter 2021, compared to $0.38 and $1.00 for the linked and prior year quarters, respectively.

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its fourth quarter 2021 financial results on Monday, January 24, 2022. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, January 25, 2022. The conference call will be accessible by telephone at 1-888-394-8218 (Conference ID #6577620). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC4Q2021. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) reported net income of $13.9 million for the third quarter 2021, a decrease of $24.5 million compared to the linked second quarter (“linked quarter”) and a decrease of $4.0 million from the prior year quarter. Earnings per diluted share (“EPS”) was $0.38 for the third quarter 2021, compared to $1.23 and $0.68 for the linked and prior year quarters, respectively. Excluding merger-related, branch closure expenses and the FCBP CECL double count charge, adjusted EPS2, adjusted ROAA2, and adjusted ROATCE2 for the third quarter 2021 were $1.27, 1.51% and 18.15%, respectively.

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its third quarter 2021 financial results on Monday, October 25, 2021. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, October 26, 2021. The conference call will be accessible by telephone at 1-800-377-9510 (Conference ID #7088056). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC3Q2021. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) reported net income of $38.4 million for the second quarter 2021, an increase of $8.5 million compared to the linked first quarter (“linked quarter”) and an increase of $23.8 million from the prior year quarter. Earnings per diluted share (“EPS”) was $1.23 for the second quarter 2021, compared to $0.96 and $0.56 for the linked and prior year quarters, respectively.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” or “Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today the completion of its merger with First Choice Bancorp (“FCBP”), with Enterprise as the surviving institution, effective as of 11:59 p.m. Eastern time on July 21, 2021. The merger of EB&T and FCBP’s wholly owned subsidiary, First Choice Bank (“First Choice”), will be effective shortly thereafter. The merger adds approximately $2.4 billion in assets, $2.0 billion in loans and $1.9 billion in deposits to Enterprise. Following the merger, Enterprise will have approximately $12.7 billion in total assets.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” or “Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today that, at a special meeting of EFSC’s stockholders held on July 20, 2021, EFSC received stockholder approval for the proposed merger (the “Merger”) with First Choice Bancorp (“FCBP”), pursuant to the terms and subject to the conditions of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of April 26, 2021, by and among EFSC, EB&T, FCBP and First Choice Bank (“First Choice”), including the issuance of shares of EFSC’s common stock to holders of FCBP common stock in connection with the Merger. As previously announced by FCBP, FCBP’s shareholders approved the Merger Agreement and the transactions contemplated thereby at a special meeting of FCBP’s shareholders held on July 19, 2021. The closing of the Merger remains subject to the satisfaction of certain customary closing conditions.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” or “Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today that it has received regulatory approval or received a regulatory waiver from the Federal Deposit Insurance Corporation and the Federal Reserve Bank of St. Louis, as applicable, and preliminary approval from the Missouri Division of Finance, for First Choice Bank to be merged into EB&T on the terms and subject to the conditions of the Agreement and Plan of Merger, dated as of April 26, 2021, by and among EFSC, EB&T, First Choice Bancorp (“FCBP”) and First Choice Bank (“First Choice”). The consummation of the merger remains subject to the approval by FCBP’s shareholders of the merger, the approval by EFSC’s shareholders of the merger and the issuance of shares of EFSC’s common stock to holders of FCBP common stock in connection with the merger, and the satisfaction of other closing conditions. EFSC expects that the FCBP acquisition will close in the third quarter of 2021.

Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its second quarter 2021 financial results on Monday, July 26, 2021. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, July 27, 2021. The conference call will be accessible by telephone at 1-800-363-2106 (Conference ID #3330879). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit https://bit.ly/EFSC2Q2021. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,”), previously disclosed on Form 10-Q filed with the U.S. Securities and Exchange Commission on April 30, 2021, that the Company’s Board of Directors approved a new share repurchase program, which replaces and supersedes the prior share repurchase program announced on May 4, 2015. Pursuant to the new share repurchase program, the Company will be authorized to repurchase up to 2,000,000 shares of its common stock from time to time in the open market or through privately negotiated transactions.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company” or “EFSC”) reported net income of $29.9 million for the first quarter 2021, an increase of $1.0 million compared to the linked fourth quarter (“linked quarter”) and an increase of $17.1 million from the prior year quarter. Earnings per diluted share (“EPS”) was $0.96 for the first quarter 2021, compared to $1.00 and $0.48 for the linked and prior year quarters, respectively.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” or “Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), and First Choice Bancorp (Nasdaq: FCBP) (“FCBP”), the holding company of First Choice Bank (“First Choice”), announced today that EFSC, EB&T, FCBP and First Choice have entered into a definitive merger agreement pursuant to which EFSC will acquire, in an all-stock merger, FCBP. Under the terms of the merger agreement, FCBP will merge with and into EFSC, and First Choice will subsequently merge with and into EB&T (with Enterprise and EB&T as the surviving entities) in a transaction valued at approximately $397.7 million, or $33.40 per FCBP share, based on the closing price of EFSC’s common stock on April 23, 2021. On a pro forma consolidated basis, the combined company would have approximately $12.7 billion in consolidated total assets as of March 31, 2021.