Enterprise Bank & Trust to Expand in Arizona and Kansas through acquisition of Twelve Banking Offices from First Interstate Bank
Summary
In the greater Kansas City metropolitan area, the transaction will increase Enterprise’s physical presence to nine full-service branch locations with approximately $1.1 billion of deposits. James B. Lally, President and Chief Executive Officer of Enterprise Financial Services Corp stated, “We are pleased to enter into this agreement with First Interstate Bank. I am confident that Enterprise’s relationship-driven and customer and community-centric approach aligns with our values, allowing these clients, employees, and communities to continue to flourish. Such forward-looking statements may include projections based on management’s current expectations and beliefs concerning future developments and their potential effects on Enterprise or First Interstate including, without limitation, plans, strategies and goals, and statements about either company’s expectations regarding their respective revenue and asset growth, financial performance and profitability, loan and deposit growth, liquidity, yields and returns, loan diversification and credit management, shareholder value creation and the impact of strategic transactions. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: our ability to efficiently integrate acquisitions such as the branch acquisition from First Interstate Bank, into our operations, retain the customers of these businesses and grow the acquired operations; credit risk; changes in the appraised valuation of real estate securing impaired loans; outcomes of litigation and other contingencies; exposure to general and local economic and market conditions, high unemployment rates, higher inflation and its impacts (including U.S. federal government measures to address higher inflation), impacts of trade and tariff policies, U.S. fiscal debt, budget and tax matters, and any slowdown in global economic growth; risks associated with rapid increases or decreases in prevailing interest rates; changes in business prospects that could impact goodwill estimates and assumptions; consolidation within the banking industry; competition from banks and other financial institutions; the ability to attract and retain relationship officers and other key personnel; burdens imposed by federal and state regulation; changes in legislative or regulatory requirements, as well as current, pending or future legislation or regulation that could have a negative effect on either company’s revenue and business, including rules and regulations relating to bank products and financial services; changes in accounting policies and practices or accounting standards; natural disasters (including wildfires and earthquakes); terrorist activities, war and geopolitical matters (including the war in Israel and potential for a broader regional conflict and the war in Ukraine and the imposition of additional sanctions and export controls in connection therewith), or pandemics, or other health emergencies and their effects on economic and business environments in which the company’s operate, including the related disruption to the financial market and other economic activity; and other risks referenced from time to time in the Enterprise’s and First Interstate’s respective filings with the Securities and Exchange Commission (the “SEC”), including in their Annual Reports on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the SEC.