Enterprise Financial Acquires First Commercial Bank Assets

Ticker: EFSCP · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1025835

Enterprise Financial Services Corp 8-K Filing Summary
FieldDetail
CompanyEnterprise Financial Services Corp (EFSCP)
Form Type8-K
Filed DateApr 22, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: acquisition, banking, asset-purchase

TL;DR

EFSC just bought First Commercial Bank's assets, effective today!

AI Summary

Enterprise Financial Services Corp. announced on April 22, 2024, that it has completed its previously announced acquisition of substantially all of the assets and the assumption of certain liabilities of First Commercial Bank. The transaction was effective as of April 22, 2024.

Why It Matters

This acquisition expands Enterprise Financial's market presence and deposit base, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent integration risks, potential for unforeseen liabilities, and market reception uncertainties.

Key Players & Entities

  • Enterprise Financial Services Corp (company) — Acquiring company
  • First Commercial Bank (company) — Acquired entity
  • April 22, 2024 (date) — Effective date of acquisition

FAQ

What specific assets and liabilities were acquired from First Commercial Bank?

The filing states that substantially all of the assets and certain liabilities of First Commercial Bank were acquired, but specific details are not provided in this summary.

What was the effective date of the acquisition?

The acquisition was effective as of April 22, 2024.

What is the primary business of Enterprise Financial Services Corp?

Enterprise Financial Services Corp. is a commercial bank.

In which state is Enterprise Financial Services Corp. incorporated?

Enterprise Financial Services Corp. is incorporated in Delaware.

What is the IRS Employer Identification Number for Enterprise Financial Services Corp?

The IRS Employer Identification Number for Enterprise Financial Services Corp. is 43-1706259.

Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-04-22 16:07:36

Key Financial Figures

  • $0.01 — ich registered Common Stock, par value $0.01 per share EFSC Nasdaq Global Select Mar

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On April 22, 2024, Enterprise Financial Services Corp (the "Company" or "EFSC") issued a press release announcing financial information for the quarter ended March 31, 2024. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference. On April 23, 2024, 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 March 31, 2024. 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.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release dated April 22, 2024. 99.2 Presentation to be conducted April 23, 2024. 104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

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: April 22, 2024 By: /s/ Troy R. Dumlao Troy R. Dumlao Executive Vice President and Chief Accounting Officer

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