Tag Archives: Enterprise Financial Services Corp.

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Enterprise Ranked in Top 10% of Community Banks

Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp (NASDAQ: EFSC) has been ranked in the top 10 percent of U.S. community banks by Raymond James & Associates, a leading investment banking and financial advisory firm.

Enterprise was recognized in the second annual Raymond James Community Bankers Cup awards, which identified the top 10 percent of community banks based on various profitability, operational efficiency and balance sheet metrics.

The pool of community banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targets, with total assets between $500 million and $10 billion as of December 31, 2013. More than 300 community banks across the United States were evaluated for the awards.

Enterprise was also recognized in Raymond James’ first Community Bankers Cup award for 2012.

“We are gratified to be considered one of the top community banks by Raymond James for the second consecutive year,” said Enterprise Bank & Trust Arizona Region Chairman Jack Barry. “This award is based on our financial performance, but it’s also a direct reflection of the talent of our bankers and the success of our clients, who drive our financial results.”

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Enterprise Bank & Trust earns honor

Enterprise Bank & Trust’s solid financial performance and profitability has earned it one of the first-annual Raymond James Community Bankers Cup awards – placing it among the top 10 percent of community banks nationally.

Raymond James & Associates, a leading investment banking and financial advisory firm, analyzed community banks for profitability, operational efficiency and balance sheet metrics from fiscal 2012. The pool of community banks considered for recognition had assets between $500 million and $10 billion as of December 31, 2012.

Enterprise Financial Services Corp, the publicly-traded (NASDAQ: EFSC) holding company of Enterprise Bank & Trust, was found to be in the top 10 percent of banks demonstrating superior performance and ranked 19th among 303 banks vying for the award.

“To earn this independent, data-based recognition is a great reflection of the hard work and accomplishments we have consistently demonstrated over the past several years,” said Jack Barry, chairman of Enterprise Bank & Trust’s Arizona region. “This award also proves our focused and relationship-based business strategy is working.”

Enterprise operates commercial banking and wealth management businesses from its Phoenix, St. Louis and Kansas City locations. Enterprise Bank & Trust is primarily focused on serving the needs of privately-held businesses, their owner families, executives and professionals.

money stack

Enterprise Bank & Trust earns honor

Enterprise Bank & Trust’s solid financial performance and profitability has earned it one of the first-annual Raymond James Community Bankers Cup awards – placing it among the top 10 percent of community banks nationally.

Raymond James & Associates, a leading investment banking and financial advisory firm, analyzed community banks for profitability, operational efficiency and balance sheet metrics from fiscal 2012. The pool of community banks considered for recognition had assets between $500 million and $10 billion as of December 31, 2012.

Enterprise Financial Services Corp, the publicly-traded (NASDAQ: EFSC) holding company of Enterprise Bank & Trust, was found to be in the top 10 percent of banks demonstrating superior performance and ranked 19th among 303 banks vying for the award.

“To earn this independent, data-based recognition is a great reflection of the hard work and accomplishments we have consistently demonstrated over the past several years,” said Jack Barry, chairman of Enterprise Bank & Trust’s Arizona region. “This award also proves our focused and relationship-based business strategy is working.”

Enterprise operates commercial banking and wealth management businesses from its Phoenix, St. Louis and Kansas City locations. Enterprise Bank & Trust is primarily focused on serving the needs of privately-held businesses, their owner families, executives and professionals.

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Enterprise posts strong quarterly earnings

Enterprise Financial Services Corp. reported net income of $10 million for the quarter ended March 31, 2013, compared with net income of $6.2 million for the prior year period. Net income per diluted share was $0.53 for the first quarter of 2013, compared with $0.31 per diluted share for the first quarter of 2012. Higher net interest income as well as a reduction in non-interest expenses drove the increase in net income.

Peter Benoist, president and CEO, commented, “Enterprise posted strong earnings for the quarter, with solid results from our core banking operations, as well as our covered asset portfolios. Compared to a year ago, organic C&I loan balances grew 20% while nonperforming assets declined 41%. Over the same period, key components of our noninterest income increased steadily, with wealth management revenues rising 14% and service charges up 15%. The pending acquisition of Gorman & Gorman Home Loans will expand our mortgage business and related fee income opportunities.”

“Net revenues from our FDIC loss share assets continue to add meaningfully to our results,” noted Benoist. “Covered assets produced $8.7 million in net revenue in the first quarter and have generated $75.8 million since we completed our first FDIC-assisted transaction a little more than three years ago.”

Benoist added, “We positioned the company for further growth with several new management assignments during the quarter. Scott Goodman was named president of Enterprise Bank & Trust, partnering with Steve Marsh to drive the Bank’s earnings growth as the economy continues to improve. In addition, several other executives were appointed to leadership roles in the Bank’s Arizona and Kansas City Regions. These promotions reflect the strength of our team and the company’s ability to deploy talent effectively to capitalize on market opportunities.”