Enterprise Financial Services Corporation - EFSC STOCK NEWS

RBB Bancorp (NASDAQ:RBB) announced the appointment of Robert Franko and Scott Polakoff to its Board of Directors, effective April 20, 2023. Franko brings over 35 years of commercial banking experience, previously serving as President & CEO of First Choice Bancorp, sold to Enterprise Financial Services Corp (NASDAQ:EFSC) in July 2021. Polakoff has extensive regulatory experience, having been with the FDIC for 22 years and now serving as Executive Vice President at FinPro, Inc. Chairman Dr. James Kao expressed confidence in their ability to enhance shareholder value through their industry expertise. RBB Bancorp, a community-based financial holding company, had total assets of $3.9 billion as of December 31, 2022, serving Chinese-American communities across several states.

Enterprise Financial Services Corp (EFSC) reported first quarter results showcasing a net income of $55.7 million, or $1.46 per diluted common share, reflecting a decrease of $4.3 million from the previous quarter but an increase of $8.0 million year-over-year. The company's net interest margin (NIM) rose to 4.71%, up five basis points quarter-over-quarter, driven by a $0.7 million increase in net interest income, totaling $139.5 million. Total loans grew by $274.8 million to $10.0 billion, while total deposits increased $325.5 million to $11.2 billion. Despite a seasonal rise in noninterest expense, the company’s return on tangible common equity stood at 20%. A quarterly dividend of $0.25 per share was also approved.

Enterprise Financial Services Corp (Nasdaq: EFSC) will release its first quarter 2023 financial results on April 24, 2023. The Company will follow up with a conference call on April 25, 2023, at 10:00 a.m. CT, accessible via phone and webcast on their website. The financial results will cover key metrics, although specifics are not disclosed in this announcement. EFSC, headquartered in Clayton, Missouri, operates with approximately $13.1 billion in assets through its wholly-owned subsidiary, Enterprise Bank & Trust, providing a variety of banking and wealth management services across multiple states.

Enterprise Financial Services Corp (NASDAQ: EFSC) announced the retirement of John Eulich from its Board of Directors, effective immediately after the upcoming 2023 Annual Meeting. Eulich, who served as Chairperson since 2016 and was on the Board since 2010, has been pivotal in the company's growth, enhancing shareholder value. Michael DeCola, currently Vice-Chairperson, will succeed him. Both management and Eulich acknowledge his contributions to the company's transformation during his tenure. Enterprise Financial Services Corp holds approximately $13.1 billion in assets and operates through its wholly-owned subsidiary, Enterprise Bank & Trust.

KBRA's fourth-quarter 2022 U.S. Bank Compendium offers insights into the U.S. banking sector, analyzing performance metrics and credit quality indicators for banks under KBRA's long-term ratings. The report highlights loan quality, loss absorption capacity, and key trends affecting bank performance amidst a low problem loan environment. It also details the top 10 banks with lowest cost deposit franchises and significant changes in financial ratios. Additionally, the Compendium features a quarterly ESG Bulletin, and a supplement with 158 debt issues from rated banks.

Enterprise Financial Services Corp (Nasdaq: EFSC) reported strong financial results for Q4 2022, with net income of $60.0 million (or $1.58 per diluted share), marking increases of 19% quarter-over-quarter and 18% year-over-year. The net interest margin improved to 4.66%, reflecting a 56 basis point increase. Total loans reached $9.7 billion, a quarterly increase of $382 million (16% annualized). Full-year net income was $203.0 million, with a return on average assets of 1.52%. The company declared a $0.25 quarterly dividend, up from $0.24.

Enterprise Financial Services Corp (EFSC) will release its fourth quarter 2022 financial results on January 23, 2023, followed by a conference call on January 24, 2023, at 10:00 a.m. CT. The call can be accessed at 1-888-550-5279 (Conference ID #7004515) and will also be available as a webcast on the company’s website.

EFSC, with approximately $13.0 billion in assets, operates in multiple states including Missouri, Arizona, California, and others, providing a range of banking and wealth management services.