Enterprise Financial Services Corporation · NASDAQ:EFSC
Enterprise Financial Services — Investor Presentation (May 2025)
37 slides from Enterprise Financial Services's investor presentation, May 2, 2025
Slide 1: Investor Presentation April 2025
Investor Presentation April 2025 Exhibit 99.1
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements Some of the information in this report may contain “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. Such forward-looking statements may include projections
Slide 3: EFSC's Unique Value Proposition
3 Empowered associates providing industry-leading service, supported by digital technology solutions Tenured and experienced management team Strong capital foundation and consistent history of delivering results Differentiated strategies delivering growth Focused commercial bank, diversified across
Slide 4: EFSC Overview
EFSC Overview Zo ISTRERISE
Slide 5: Differentiated Business Model
5 Differentiated Business Model Focused on privately owned businesses and business owners Commercial Deposits • Highly productive network of 42 branches with $226M2 average deposits per branch • Complete and easy-to-use cash management services Deposit Verticals • Community associations • Property m
Slide 6: Since 2013, Continually Optimizing Performance
6 Midwest-focused FDIC-assisted acquisitions Expanded deposit base Expanded footprint through four acquisitions Delivered performance improvements Tackled challenges, including COVID and bank liquidity crisis Aligned incentives Diversified across geographies and verticals Consistent growth Compoundi
Slide 7: Diversified Deposit Base
7 $13.0B Total Deposits Note: 1Q25 data Interest- Bearing Demand Accounts by Typeby Region Deposit Verticals 27% Southwest 16% Midwest 48% West 9% DDA 33% MMA & Savings 32% CD 10% Interest-Bearing Demand Accounts 25% Diversified Deposit Base
Slide 8: Balanced Loan Portfolio
8 CRE-IO 24% CRE-OO 21% C&I 42% Construction 8% Residential 3% Other 2% by Product Type $11.3B Total Loans by Region Specialty 38% Southwest 17% Midwest 28% West 17% Note: 1Q25 data Balanced Loan Portfolio
Slide 9: EFSC's Customer-Focused Culture
9 Aligned teams providing customer-focused solutions Vision: To be a company where our associates are proud to work, that delivers ease of navigation to our customers and value to our investors, while helping our communities flourish. Mission: Guiding people to a lifetime of financial success. EFSC’
Slide 10: Seasoned Executive Leadership Team
10 Jim Lally 57, President & Chief Executive Officer, EFSC Enterprise Tenure: 21 years Keene Turner 45, SEVP, Chief Financial Officer, EFSC Enterprise Tenure: 11 years Scott Goodman 61, SEVP, President, Enterprise Bank & Trust Enterprise Tenure: 22 years Doug Bauche 55, SEVP, Chief Credit Officer, E
Slide 11: Delivering Efficiency & Top Quartile NIM
11 • Focus on process excellence, automation, and scale • Completed core system conversion in 2024 • Continuing technology investments • Focus on client experience enhancement • Relentless cost discipline • Top quartile1 performance (1Q25) Net Interest Margin 3.41% 4.15% 2021 1Q25 Delivering Efficie
Slide 12: Effective Risk Management as a Key Enabler
12 Approach • Strong credit process • Effective controls • High quality assets • Well positioned for different rate environments Managing risk • Diversification across asset classes, geography, and industry • Reducing agriculture exposure over time • Well managed CRE concentration Nonperforming Loan
Slide 13: Growth Strategy
Growth Strategy Zo ISTRERISE
Slide 14: Strategic Growth Pillars
14 Focused loan growth strategies High-quality talent additions through focused efforts Best-in-class technology partnerships Differentiated deposit verticals Well positioned in attractive markets1. 2. 3. 4. 5. Strategic Growth Pillars
Slide 15: Well-Positioned in Attractive Markets
15 Significant opportunities for growth and share gain in our markets Region Total Deposits ($B) Total Loans ($B) Market Profile Metro Midwest $6.2 $3.2 Stable St. Louis Kansas City Southwest $2.1 $1.9 Stable Albuquerque2 Growth Phoenix Dallas Las Vegas West $1.2 $1.9 Growth Los Angeles San Diego De
Slide 16: Branch acquisition strategic rationale
16 ($ in thousands) % of Total CRE $ 113,668 56.9 % C&I 76,865 38.5 % Other 9,109 4.6 % Total Loans $ 199,642 100.0 % Strategic Rationale Loans Deposits 10 Branches $656M Total Deposits $161M Total Loans 69% Variable Rate Loans 38% NIB $84M Total Deposits $39M Total Loans 55% Variable Rate Loans • U
Slide 17: Differentiated Deposit Verticals
17 23% 41% 36% Community Associations $1.4 billion in deposit accounts. Specifically designed to serve the needs of community associations Property Management $1.3 billion in deposits. Specializing in the compliance of Property Management Trust Accounts Legal Industry and Escrow Services $827 millio
Slide 18: Focused Loan Growth Strategies
18 Lending verticals provide a competitive advantage, risk-adjusted pricing, and fee income opportunities SBA Loans • $1.3B in loans outstanding in SBA 7(a) loans, including $943M guaranteed Life Insurance Premium Finance • $1.1B in loans outstanding related to high-net-worth estate planning Sponsor
Slide 19: Food Manufacturer Boosts Production and Sales with Enterprise
19 Food Manufacturer Boosts Production and Sales with Enterprise as Its Partner OPPORTUNITY Food manufacturer faced inflation and capacity challenges • Client needed a way to increase capacity and production efficiency to keep up with inflation and increased customer demand • Client was unsure of ho
Slide 20: High-Quality Talent Additions Through Focused Efforts
20 Additional talent delivering deposit and loan growth 11: Los Angeles 10: San Diego 5: Phoenix & Las Vegas Talent acquisitions between 2021 & 1Q25 4. High-Quality Talent Additions Through Focused Efforts 29 Producers Opportunistically Hired: Adds Density and Capability in Focus Geographies 3: Mid-
Slide 21: Best-In-Class Technology Partnerships
21 Leading technology solutions support growth and deliver best-in-class client experience TARGET ONBOARD SERVICE PROTECT GROW Customer Surveys Salesforce Integrated with Core for 360 Client View Client Portal Positive Pay (Check & ACH) Integrations for APIs for HOA/PM FIS XAA Account Analysis Onlin
Slide 22: Financial Overview and Outlook
Financial Overview and Outlook
Slide 23: Our Focused Strategy is Generating Growth
231A Non-GAAP Measure, Refer to Appendix for Reconciliation Pre-Provision Net Revenue1 $ in Millions Pre-Provision Net Revenue ROAA1 $207 $259 $285 $255 $66 2021 2022 2023 2024 1Q25 1.80% 1.94% 2.06% 1.72% 1.71% 2021 2022 2023 2024 1Q25 Our Focused Strategy is Generating Growth
Slide 24: Consistently Growing and Creating Value
24 Loan & Deposits Trends ($B) $2.4 $11.3 $2.7 $13.0 EFSC Loans EFSC Deposits 1Q15 1Q25 Balance sheet growth driving earnings growth 10-Year TBV CAGR510-Year TTM4 EPS CAGR5 110-Year CAGR from 1Q15 – 1Q25; 210.7% excluding acquisitions; 311.8% excluding acquisitions and brokered CDs 4TTM – Trailing T
Slide 25: Flexible Balance Sheet Positioned for Growth
25 $6.2B Available Liquidity 61% Adjustable Rate Loans3 11.8% CET1 Ratio1 87% Loans to Deposits Note: 1Q25 data; 110.5% adjusting for unrealized losses on securities. These are non-GAAP measures, refer to appendix for reconciliation 28.94% adjusted for unrealized losses on held-to-maturity securitie
Slide 26: Low Cost, Highly Flexible Capital Strategy
26 High Capital Retention Rate • Strong earnings profile • Sustainable dividend profile Support Robust Asset Growth • Organic loan and deposit growth • High-quality M&A to enhance commercial franchise and geographic diversification Maintain High-Quality Capital Stack • Minimize WACC over time (prefe
Slide 27: M&A Track Record
27 $5.3 $5.6 $7.3 $9.8 $13.5 $13.1 $14.5 $15.6 $4.4 $6.1 $8.5 $11.3 $0.9 $1.2 $1.3 $2.2 Merger Contribution EFSC Assets 2017 2018 2019 2020 2021 2022 2023 2024 Strategically enhanced geographic diversification and product lines through select M&A transactions Growth History $ in Billions Granular, l
Slide 28: Compelling Opportunities for Future Value Creation
28 Maximizing returns on investment Systems People Markets Deliver compounding tangible book value Consistent, reliable performance Continuously refining and improving Driving efficiency Optimizing processes Realizing system returns Grow balance sheet mid-single-digit % to high-single-digit % annual
Slide 29: Invest with EFSC
29 Empowered associates providing industry-leading service, supported by digital technology solutions Tenured and experienced management team Strong capital foundation and consistent history of delivering results Differentiated strategies delivering growth Focused commercial bank, diversified across
Slide 30: Enterprise Financial Services Corp
ENTERPRISE Financial Services Corp
Slide 31: Sustainability and community involvement
31 • Selected by the Community Development Financial Institutions Fund (CDFI Fund) of the U.S. Department of the Treasury to receive $353M of New Markets Tax Credits allocations since 2011 • In 2024, our portfolio included the financing of over $1.9B in small business, small farm and community devel
Slide 32: Non-GAAP financial measures
32 The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, the tangible common equit
Slide 33: Tangible Common Equity Ratio Reconciliation
33 At (in thousands, except per share data) March 31, 2025 Stockholders' equity (GAAP) $ 1,868,073 Less preferred stock 71,988 Less goodwill 365,164 Less intangible assets 7,628 Tangible common equity (non-GAAP) $ 1,423,293 Less net unrealized loss on HTM securities, after tax1 55,819 Tangible commo
Slide 34: CET1 Ratio Adjusted For Unrealized Loss (Gain)
34 At (in thousands, except per share data) March 31, 2025 CET1 capital $ 1,525,314 Less unrealized loss on investment portfolio, after tax1 165,750 CET1 capital excluding unrealized loss (gain) on securities $ 1,359,564 Total risk-weighted assets $ 12,948,222 CET1 capital / risk-weighted assets (GA
Slide 35: PPNR & PPNR ROAA Reconciliation
35 PPNR & PPNR ROAA Reconciliation of Non-GAAP Financial Measures Quarter ended Year ended ($ in thousands) March 31, 2025 December 31, 2024 December 31, 2023 December 31, 2022 December 31, 2021 Net interest income $ 147,516 $ 568,096 $ 562,592 $ 473,903 $ 360,194 Noninterest income 18,483 69,703 68
Slide 36: Allowance Coverage Ratio Adjusted for Guaranteed Loans
36 Allowance Coverage Ratio Adjusted for Guaranteed Loans At ($ in thousands) March 31, 2025 Loans (GAAP) $ 11,298,763 Less guaranteed loans, net 942,651 Adjusted loans (non-GAAP) $ 10,356,112 Allowance for credit losses on loans (GAAP) $ 142,944 Allowance for credit losses on loans / total loans (G
Slide 37: ROATCE and ROAA Reconciliation
37 Return on Average Tangible Common Equity (ROATCE) and Return on Average Assets (ROAA) Quarter ended ($ in thousands) March 31, 2025 Average stockholder’s equity $ 1,863,272 Less average preferred stock 71,988 Less average goodwill 365,164 Less average intangible assets 8,026 Average tangible comm
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