Enterprise Financial Services Corporation (EFSC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. I would now like to turn the conference over to Jim Lally, President and CEO. You may begin. Well, thank you, Pam, and good morning, everybody. Thank you all very much for joining us this morning, and welcome to our 2025 First Quarter Earnings Call. Joining me this morning is Keen Turner, EFSC's Chief Financial Officer and Chief Operating Officer, Scott Goodman, President of Enterprise Bank & Trust, and Doug Bauke, Chief Credit Officer of Enterprise Bank & Trust. Before we begin, I would like to remind everybody on the call that a copy of the release and accompanying presentation can be found on our website. The presentation and earnings release were furnished on SEC Forum 8K yesterday, in addition to two other press releases that we'll be referencing in our remarks this morning. Please refer to slide two of the presentation titled Forward Looking Statements and our most recent 10K and 10Q for reasons why actual results may vary from any forward looking statements that we make this morning. Our financial scorecard begins on slide three. 2025 is off to an exciting start for our company. In addition to strong financial results for the first quarter, yesterday we announced the acquisition of 12 branches from First Interstate Bank, 10 of which are in our Arizona market, complementing very well the focused commercial bank we have built over the last 15 years. The strong financial performance that we have generated for the past several years continued into the first quarter of 2025. For the quarter, we earned $1.31 per diluted share, which compares favorably to the seasonally strong $1.28 that we earned in the late quarter and the $1.05 that we earned in the first quarter of 2024. This level of performance produced an adjusted return on assets of 1.29% and a pre...