Deal Snapshot
Enterprise Financial Services Receives Regulatory Approvals for Acquisition of First Choice Bancorp
Monday 19 July 2021

US-based Enterprise Financial Services Corp (NASDAQ: EFSC), the holding company of Enterprise Bank and Trust (EB and T), has received regulatory approval or received a regulatory waiver from the Federal Deposit Insurance Corp. 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 and 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 and T, First Choice Bancorp and First Choice Bank, the company said.

EFSC expects that the FCBP acquisition will close in 3Q21. In April, Enterprise Financial Services and First Choice Bancorp (NASDAQ: FCBP), the holding company of First Choice Bank, entered into a definitive merger agreement pursuant to which EFSC will acquire FCBP in an all-stock merger, in a transaction valued at approximately USD 397.7m.

Date Published: 19/07/2021