Business
Seacoast Commerce Banc Holdings Shareholders Approve Merger With Enterprise Financial Services Corp
ST. LOUIS, Mo. & SAN DIEGO--(BUSINESS WIRE)-- Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” “Enterprise,” “we,” “us,” or “our”),
About this update from Enterprise Financial Services Corporation
[{"type":"text","content":" ST. LOUIS, Mo. & SAN DIEGO--(BUSINESS WIRE)--\nEnterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” “Enterprise,” “we,” “us,” or “our”), the holding company of Enterprise Bank & Trust (“EB&T”), and Seacoast Commerce Banc Holdings (OTCPK: SCBH) (“SCBH”), the holding company of Seacoast Commerce Bank (“Seacoast”), announced today that, at a special meeting of shareholders held on November 6, 2020, SCBH shareholders approved the proposed merger of EFSC and SCBH, pursuant to the Agreement and Plan of Merger, dated August 20, 2020 (the “Merger Agreement”), by and among EFSC, EB&T, SCBH and Seacoast. Subject to the terms of the Merger Agreement, SCBH will merge with and into EFSC, with EFSC surviving the merger, and Seacoast will merge with and into EB&T, with EB&T surviving the merger. At the effective time of the merger, each holder of SCBH common stock will receive 0.5061 shares of EFSC common stock for each SCBH common share held and cash in lieu of fractional shares. The parties intend to close the transaction in mid-November, subject to customary closing conditions.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201106005558/en/\nAbout Enterprise Financial Services Corp:\n\nEnterprise Financial Services Corp (Nasdaq: EFSC), with approximately $8.4 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates 34 branch offices in Arizona, Kansas, Missouri and New Mexico. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.\n\nEnterprise Financial Services Corp’s common stock is traded on the Nasdaq Stock Market under the symbol “EFSC.” Please visit our website at www.enterprisebank.com to see our regularly posted material information.\n\nAbout Seacoast Commerce Banc Holdings:\n\nSeacoast Commerce Banc Holdings, with approximately $1.3 billion...