Enterprise Financial Services Corp announces receipt of shareholder approval for the acquisition of First Choice Bancorp

ST. LOUIS – (BUSINESS WIRE) – Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company”, “EFSC” or “Company”), the holding company of Enterprise Bank & Trust (“EB&T”), announced at a special meeting today that the EFSC shareholders held July 20, 2021, EFSC received shareholder approval for the proposed merger (the “Merger”) with First Choice Bancorp (“FCBP”) under the terms and subject to the terms of the Agreement and the Proposed Merger (the “Merger Agreement “) Dated April 26, 2021 between EFSC, EB&T, FCBP and First Choice Bank (” First Choice “), including the issue of EFSC common shares to holders of FCBP common shares in connection with the Merger. As previously announced by FCBP, the shareholders of FCBP approved the merger agreement and the intended transactions at a special meeting of the shareholders of FCBP on July 19, 2021. Completion of the merger is still subject to certain customary closing conditions being met.

About Enterprise Financial Services Corp.

Enterprise Financial Services Corp (Nasdaq: EFSC), approximately $ 10.2 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a state-licensed Missouri trust company with banking powers and a wholly-owned subsidiary of EFSC, operates 39 offices in Arizona, California, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit production offices in Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah, and Washington on June 30, 2021. Enterprise Bank & Trust provides a variety of business, private banking, and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and fiduciary services to businesses, individuals, institutions, retirement planning and nonprofits. More information is available at www.enterprisebank.com.

Enterprise Financial Services Corp. common stock trades on the Nasdaq Stock Market under the symbol “EFSC”. Please visit our website at www.enterprisebank.com to view our regularly published key information.

Forward-Looking Statements

Certain statements in this press release may be viewed as forward-looking statements regarding Enterprise, including its wholly-owned subsidiary EB&T and Enterprise’s proposed acquisition of FCBP and First Choice. These forward-looking statements may include: statements about the acquisition, the consideration payable in connection with the acquisition, and the ability of the parties to complete the acquisition. Forward-looking statements are usually identified by words such as “believe”, “expect”, “anticipate”, “intend”, “look out”, “estimate”, “forecast”, “project”, “pro forma” and similar words and Expressions. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties that change over time. Forward-looking statements only apply at the time of their publication. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ materially from those anticipated by EFSC in its forward-looking statements, and future results could differ materially from historical performance. Factors that could cause or contribute to such differences include, but are not limited to, the possibility that the expected benefits of the acquisition may not materialize, will not materialize in the expected time frame, or may be more expensive to obtain; that the acquisition, if at all, cannot be completed on time; the occurrence of an event, change or other circumstance that could give rise to either or both parties’ right to terminate the definitive Transaction Agreement; the outcome of legal proceedings that may be initiated against the EFSC or FCBP; that the respective business of EFSC and FCBP may not perform as expected before or after the completion of the Acquisition due to transaction-related uncertainties or other factors; that the parties are unable to successfully implement integration strategies; that the closing conditions are not met on time or not at all; Reputational risks and the company’s employees or customers’ reaction to the transaction; Diversion of management time for acquisition-related issues; that the COVID-19 pandemic, including the uncertainty and volatility in the financial, commodity and other markets as well as disruptions in banking and other financial activities, affect the business, financial and earnings position of EFSC and FCBP and affect the schedule and the could adversely affect expected results Benefits of the proposed acquisition; and the factors and risks referred to from time to time in the EFSC’s filings with the US Securities and Exchange Commission (the “SEC”), including in its Annual Report on Form 10-K for the year ended December 31, 2020 and other filings with the SEC. For all forward-looking statements in this press release or in other documents, EFSC claims the safe haven for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Except to the extent required by applicable law or regulation, the EFSC disclaims any obligation to revise or update any of the forward-looking statements contained herein, or to publish them publicly to reflect events or circumstances after the date to which these statements were made.

Source link

About Paige McCarthy

Check Also

Sunday July 18 – Twin Cities

DEVELOPMENT Dominium, a Plymouth-based owner, developer and manager of apartment buildings, announced that he has …

Leave a Reply

Your email address will not be published. Required fields are marked *