Enterprise Financial Services Corporation · NASDAQ:EFSC
Enterprise Financial Services — Debt Investor Presentation (March 2026)
42 slides from Enterprise Financial Services's debt investor presentation, Mar 9, 2026
Slide 1: Investor Presentation Fixed Income March 2026
Investor Presentation Fixed Income March 2026 Exhibit 99.1
Slide 2: Disclaimer & Forward-Looking Statements
2 Disclaimer & Forward-Looking Statements Disclaimer This presentation contains summarized consolidated information concerning Enterprise Financial Services Corp (the “Company,” “Enterprise” or "EFSC") and the Company’s business, operations, financial performance and trends. No representation is mad
Slide 3: Today's Presenters
3 Today’s Presenters Jim Lally 58, President & CEO, EFSC Enterprise Tenure: 22 years Keene Turner 46, SEVP, CFO & COO, EFSC Enterprise Tenure: 12 years Doug Bauche 56, SEVP, Chief Banking Officer, Enterprise Bank & Trust Enterprise Tenure: 25 years
Slide 4: EFSC Overview
EFSC Overview
Slide 5: Differentiated Business Model
5 Differentiated Business Model Focused on privately owned businesses and business owners Commercial Deposits • Highly productive network of 54 branches with $200M2 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 five acquisitions Delivered performance improvements Tackled challenges, including COVID and bank liquidity crisis Aligned incentives Diversified across geographies and verticals Consistent growth Compoundi
Slide 7: Strategically enhanced geographic diversification and product lines through select M&A
7 Strategically enhanced geographic diversification and product lines through select M&A transactions $ in Billions Granular, low-cost deposit base in New Mexico and St. Louis (JC Bancshares and Trinity) National Deposit Vertical Platform and National SBA Lending Platform (Seacoast) Deepened C&I foc
Slide 8: Strategic Growth Pillars
8 Strategic Growth Pillars Well positioned in attractive markets Differentiated deposit verticals Focused loan growth strategies High-quality talent additions through focused efforts Best-in-class technology Strong presence across major markets, balancing stable Midwest anchors (St. Louis, Kansas
Slide 9: Consistently Growing and Creating Value
9 Balance sheet growth driving earnings growth 10-Year TBV CAGR510-Year TTM4 EPS CAGR5 110-Year CAGR from 4Q15 – 4Q25; 29.7% excluding acquisitions; 311.9% excluding acquisitions and brokered CDs. 4TTM – Trailing Twelve Months; 54Q25 results for the KRX index available as of January 21, 2026. All fi
Slide 10: Key Credit Highlights
10 Focused commercial bank, diversified verticals and markets Key Credit Highlights Well-managed balance sheet with high-quality investment portfolio and significant liquidity Strong capital foundation and consistent history of delivering results Consistent, high profitability with diversified reven
Slide 11: Financial Overview
Financial Overview
Slide 12: Financial Highlights - 4Q25
12 Financial Highlights - 4Q25* *Comparisons noted below are to the linked quarter unless otherwise noted. **A Non-GAAP Measure, Refer to Appendix for Reconciliation. • Net Income $54.8 million, up $9.6 million; diluted EPS $1.45 • Net Interest Income $168.2 million, up $9.9 million; NIM 4.26% • ROA
Slide 13: Our Focused Strategy Generates Consistency
131A Non-GAAP Measure, Refer to Appendix for Reconciliation. Pre-Provision Net Revenue1 $ in Millions Pre-Provision Net Revenue ROAA1 Our Focused Strategy Generates Consistency
Slide 14: Profitability Is Driving Strong Capital Generation
14 Note: Peers represent major exchange traded banks with assets $10 billion - $25 billion; excludes FBP, LC, OFG, merger targets and banks with negative profitability or missing data. Peer data per S&P Capital IQ Pro. 1Non-GAAP measure, refer to appendix for reconciliation. 2Defined as ROATCE x (1
Slide 15: Net Interest Margin Remains Stable
15 Net Interest Margin Remains Stable $148.6 $150.0 $155.5 $161.3 $171.7 4.13% 4.15% 4.21% 4.23% 4.26% 4.66% 4.33% 4.33% 4.30% 3.90% 2.50% 3.00% 3.50% 4.00% 4.50% $100.0 $120.0 $140.0 $160.0 $180.0 $200.0 $220.0 $240.0 4Q24 1Q25 2Q25 3Q25 4Q25* Net Interest Income - FTE Net Interest Margin Average E
Slide 16: Margin Stability Supported by Funding Base
16 Margin Stability Supported by Funding Base Components of Interest-bearing LiabilitiesComponents of Interest-earning Assets Margin Bridge
Slide 17: Fee Income Supports Profitability
17 Fee Income Supports Profitability Noninterest Income Other Noninterest Income Detail *Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event. $ In Millions
Slide 18: Expenses Remain Well-Controlled
18 Expenses Remain Well-Controlled Noninterest Expense $ In Millions *A Non-GAAP Measure, Refer to Appendix for Reconciliation. Other Noninterest Expense Detail
Slide 19: Diversified Deposit Base
19 39% 39% 22% $14.6B Total Deposits Note: 4Q25 data. by Type by Region Interest-Bearing Demand Accounts 24% DDA 33% CD 12% MMA & Savings 31% Diversified Deposit Base 1.64% Q4 Cost of Total Deposits 33.4% Noninterest Bearing Deposits Community Associations $1.5B in deposit accounts. Specifically des
Slide 20: Balanced Loan Portfolio
20 Midwest 29% West 16% Specialty 36% Southwest 19% CRE-IO 25% CRE-OO 21% C&I 44% Construction 6% Residential 3% Consumer 1% by Product Type by Region1 Note: 4Q25 data. 1Excludes "Consumer" loans. Balanced Loan Portfolio $11.8B Total Loans 59.5% Adjustable-Rate Loans 6.51% Q4 Yield on Loans $635M ND
Slide 21: Credit Trends
21 Credit Trends 4Q24 3Q25 4Q25 NPLs/Loans 0.38 % 1.10 % 0.70 % NPAs/Assets 0.30 % 0.83 % 0.95 % ACL/NPLs 323.2 % 116.4 % 169.1 % ACL/Loans*** 1.34 % 1.40 % 1.29 % Annualized Net Charge-offs (Recoveries) to Average Loans $ In Millions bps bps bpsbps bps $ In Millions Loan Growth and Average Line of
Slide 22: Effective Risk Management as a Key Enabler
22 Effective Risk Management as a Key Enabler 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 m
Slide 23: Allowance for Credit Losses for Loans
23 Allowance for Credit Losses for Loans $ In Millions • New loans and changes in composition of existing loans • Changes in risk ratings, past due status and reserves on individually evaluated loans • Changes in macroeconomic and qualitative factors $ In Millions 4Q25 Loans ACL ACL as a % of Loans
Slide 24: High Quality Investment Portfolio
24 High Quality Investment Portfolio Investment Portfolio Breakout AFS & HTM Securities TOTAL $3.7 billion • Effective duration of 5.1 years balances the short 3-year duration of the loan portfolio • Cash flows next 12 months of approximately $660.9 million • 4.02% tax-equivalent yield • Municipal b
Slide 25: Diverse Sources of Liquidity
25 Diverse Sources of Liquidity EFSC Borrowing Capacity$ In Billions End of Period and Average Loans to Deposits • $1.6 billion available FHLB capacity • $3.0 billion available FRB capacity • $135.0 million in eight federal funds lines • $2.0 billion in unpledged investment securities • $681.9 milli
Slide 26: Strong Capital Ratios
26 Strong Capital Ratios 2Q25 3Q25 4Q25 Tangible Common Equity / Tangible Assets1 9.4% 9.6% 9.1% Tier 1 Leverage 11.1% 11.1% 10.5% Tier 1 Common Equity 11.9% 12.0% 11.6% Tier 1 Risk-Based Capital 13.2% 13.3% 12.8% Total Risk-Based Capital 14.7% 14.4% 13.9% Bank CRE Concentration Ratio2 227% 229% 234
Slide 27: Appendix
Appendix ENTERPRISE Financial Services Corp
Slide 28: Double Leverage & Interest Coverage
28 Double Leverage & Interest Coverage (dollars in thousands) For the Twelve Months Ended 12/31/22 12/31/23 12/31/24 12/31/25 Double Leverage Total Investment In Subsidiaries $1,573,033 $1,762,426 $1,836,167 $2,023,537 Consolidated Equity 1,522,263 1,716,068 1,824,002 2,039,386 Double Leverage Ratio
Slide 29: Kroll Ratings as of October 15th, 2025
29 Kroll Ratings as of October 15th, 2025 Entity Type Rating Outlook Enterprise Financial Services Corp Senior Unsecured Debt BBB+ Stable Subordinated Debt BBB Stable Preferred Stock BBB- Stable Short-Term Debt K2 N/A Enterprise Bank & Trust Deposit A- Stable Senior Unsecured Debt A- Stable Subordin
Slide 30: Well-Positioned in Attractive Markets
30 Significant opportunities for growth and share gain in our markets Region Total Deposits ($B) Total Loans ($B) Market Profile Metro Midwest $6.9 $3.4 Stable St. Louis Kansas City Southwest $2.6 $2.2 Stable Albuquerque2 Growth Phoenix3 Dallas Las Vegas West $1.3 $1.9 Growth Los Angeles San Diego D
Slide 31: Deposit Details
31 Deposit Details 4Q25 3Q25 4Q24 Qtr Change LTM Change Branch Acquisition* Net Organic Qtr Change Net Organic LTM Change Noninterest-bearing demand accounts $ 4,874 $ 4,387 $ 4,484 $ 487 $ 390 $ 213 $ 274 $ 177 Interest-bearing demand accounts 3,537 3,302 3,175 235 362 109 126 253 Money market acco
Slide 32: Loan Details
32 Loan Details 4Q25 3Q25 4Q24 Qtr Change LTM Change Branch Acquisition** Net Organic Qtr Change Net Organic LTM Change C&I $ 2,606 $ 2,321 $ 2,139 $ 285 $ 467 $ 85 $ 200 $ 382 CRE Investor Owned 2,786 2,627 2,405 159 381 84 75 297 CRE Owner Occupied 1,405 1,297 1,305 108 100 118 (10) (18) SBA loans
Slide 33: Diversified & Granular Commercial Loan Portfolio
33 • Broadly diversified portfolio including $695M in loans to 100+ companies • Senior debt leverage of 1.6x; total leverage of 3.9x on average for the portfolio • Allowance coverage ratio of 3.78% Additional Loan Insights Diversified & Granular Commercial Loan Portfolio % Balance of Total NAICS Sec
Slide 34: Office CRE (Non-owner Occupied)
34 Office CRE (Non-owner Occupied) Total $574.8 million Office CRE Loans by Location Office CRE Loans by Industry Type Size Average Risk Rating Number of Loans Balance Average Balance > $10 Million 5.50 16 $ 244.2 $ 15.3 $5-10 Million 5.00 12 80.3 6.7 $2-5 Million 5.31 45 143.9 3.2 < $2 Million 5.29
Slide 35: Interest Rate Sensitivity
35 Interest Rate Sensitivity Projected Annual Percentage Change in Net Interest Income from Parallel Rate Shock1 (7.9%) (4.1%) 3.6% 6.9% -200 bps -100 bps +100 bps +200 bps 1The Company determines the sensitivity of its short-term future earnings to hypothetical parallel rate shocks through the use
Slide 36: Non-GAAP Financial Measures
36 The Company’s accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, the Company provides other financial measures, such as tangible common equity, tangible common equity to
Slide 37: CET1 Ratio Adjusted For Unrealized Loss
37 At ($ in thousands) December 31, 2025 CET1 capital $ 1,583,989 Less unrealized loss on investment portfolio, after tax1 88,791 CET1 capital excluding unrealized loss on securities $ 1,495,198 Total risk-weighted assets $ 13,629,250 CET1 capital / risk-weighted assets (GAAP) 11.6 % CET1 capital ex
Slide 38: PPNR & PPNR ROAA Reconciliation
38 Year ended ($ in thousands) 2025 2024 2023 2022 Net interest income (GAAP) $ 626,738 $ 568,096 $ 562,592 $ 473,903 Noninterest income (GAAP) 113,123 69,703 68,725 59,162 FDIC special assessment (652) 625 2,412 — Core conversion expense — 4,868 — — Acquisition costs 3,675 — — — Less net gain on sa
Slide 39: Reconciliation of Non-GAAP Financial Measures
39 Reconciliation of Non-GAAP Financial Measures At ($ in thousands) December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 STOCKHOLDERS’ EQUITY TO TANGIBLE COMMON EQUITY, TOTAL ASSETS TO TANGIBLE ASSETS, TANGIBLE BOOK VALUE PER COMMON SHARE, AND TANGIBLE COMMON EQUITY T
Slide 40: Reconciliation of Non-GAAP Financial Measures
40 Reconciliation of Non-GAAP Financial Measures Quarter ended Year ended ($ in thousands) December 31, 2025 September 30, 2025 December 31, 2025 December 31, 2024 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE) Average stockholder’s equity (GAAP) $ 2,022,472 $ 1,964,126 $ 1,939,494 $ 1,784,175 Le
Slide 41: Reconciliation of Non-GAAP Financial Measures
41 Reconciliation of Non-GAAP Financial Measures 1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event. At ($ in thousands) December 31, 2025 September 30, 2025 December 31, 2024 ALLOWANCE COVERAGE RATIO ADJUSTED FOR GUARANTE
Slide 42: gv ENTERPRISE
gv ENTERPRISE a“ Financial Services Corp \
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