2022-05-06 | NDAQ:EFSC | Press release
The Board of Directors of Enterprise Financial Services Corp (Nasdaq: EFSC) has authorized a new stock repurchase program of up to 2,000,000 common shares (“2022 Stock Repurchase Program”) . Jim Lally, President and Chief Executive Officer, said, “The Board’s approval of the new buyout plan reflects the strength of the company’s earnings trends, balance sheet and capital position. Since January 2021, we have returned more than $93 million to common shareholders through share buybacks.”
The amount approved for the 2022 share buyback program represents approximately 5% of the issued and outstanding common shares of the company as of March 31, 2022. Shares can be repurchased on the open market or in privately negotiated transactions or any other way. in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and any other applicable federal or state securities laws.
About Enterprise Financial Services Corp
Enterprise Financial Services Corp, with approximately $13.5 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust (“EB&T”), a Missouri State-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates branches in Arizona, California, Kansas, Missouri, in Nevada and New Mexico, and an SBA loan and deposit producing offices nationwide.EB&T offers a range of business and personal banking and wealth management services.Enterprise Trust, a division of EB&T, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, pension plans and not-for-profit organizations.Additional information is available at www.enterprisebank.com.
Common stock of Enterprise Financial Services Corp. are traded on the Nasdaq stock market under the symbol EFSC. Please visit our website at www.enterprisebank.com to see our regularly published material information.
Readers should note that in addition to historical information contained in this press release, this press release contains “forward-looking statements” within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and beliefs regarding future developments and their potential effects on the Company, including, without limitation, plans, strategies and objectives, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposits, yields and returns, loan diversification and credit management, shareholder value creation and the impact of acquisitions.
Forward-looking statements are generally identified by words such as “believe,” “expect,” “anticipate,” “intent,” “outlook,” “estimate,” “forecast,” “project,” “pro forma” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in the 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 Company’s ability to effectively integrate acquisitions into its operations, retain customers of such businesses and expand acquired operations, as well as credit risk, changes in estimated valuation of real estate securing impaired loans, results of litigation and other contingencies, exposure to general and local economic conditions, risks associated with rapid increases or decreases in interest rates prevailing interest, consolidation in the banking industry, competition from banks and other financial institutions, the company’s ability to attract and retain relationship managers and other key personnel, burdens imposed by federal regulations and government, changes in regulatory requirements, changes in accounting policies and practices or accounting standards, changes in the method of determining LIBOR and the non-LIBOR phase, natural disasters, war (incl during the war in Ukraine) or terrorist activities, or pandemics, including the COVID-19 pandemic, and their effects on the economic and business environments in which we operate, including the continued disruption of financial market and other economic activities caused by COVID-19. 19 pandemic, and the factors and risks referenced from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and the Company’s other filings with the SEC For any forward-looking statements made in this press release or in any document, EFSC claims safe harbor protection for the forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Except to the extent required by applicable law or regulation, EFSC disclaims any obligation to revise or publicly release any revisions or updates to any of the forward-looking statements included herein to reflect events or circumstances occurring after the date on which these statements were made. .