Enterprise Bank & Trust

Enterprise Closes Acquisition of Eagle Bank and Trust

February 13, 2017

Peter Benoist, CEO, Enterprise Financial Services Corp

Last week was a big week for Enterprise Bank & Trust. And it’s just the start of what’s going to be a big year.

On Friday we proudly announced the close of our acquisition of Eagle Bank and Trust. This news is significant for many reasons, not the least of which is that it transforms Enterprise into a $5 billion bank and the fourth-largest community bank in St. Louis. This important milestone was months in the making, with too many individuals to count from both Eagle and Enterprise laboring long, hard hours to make it possible. My gratitude for their tireless efforts is beyond measure.

But make no mistake. Our job is not done. The real work is just beginning.

Between now and the middle part of this year when we will complete integration of the Eagle banking systems, we will be laser focused on ensuring a seamless transition for our Eagle clients. The reason is simple: We value their business and are eager to demonstrate that Enterprise is the right bank for them. Eagle has a long history of providing its clients with exceptional customer service, holding itself to the same high standards on which we pride ourselves at Enterprise. We want to make it clear that this will not change. We are as committed as ever to our mission of guiding our clients to a lifetime of financial success – whether they have been with us just three days or more than three decades.

We also announced last week that Jim Lally will succeed me as CEO and member of the board of directors on May 2 at our annual shareholders meeting. Jim and I have worked together for a long time. He is a trusted colleague and friend who has proven to be a great leader of people as he has risen through the ranks at Enterprise, achieving strong results along the way. He’ll be a terrific CEO, and I can’t wait to see the successes he and our Enterprise family achieve under his leadership. You can read more about Jim’s already impressive career at Enterprise here.

In addition to Jim’s appointment, we also named Eloise Schmitz and Al Kent to our board of directors. Both Eloise and Al have deep experience, which you can read about in the announcement of their appointments. Together, their industry knowledge will translate into valuable perspective and sound guidance for our board as we continue to grow in the months and years ahead.

I’d like to extend my congratulations to Jim, Eloise and Al – and to the Enterprise and Eagle teams – for these wonderful accomplishments. It truly was a banner week, but the best part is that each of these developments marks a starting point for what I hope will be many more successes for our bank and – most important – our clients who have placed their trust in us. Without them, none of these or any of our achievements would be possible.

Thank you for reading and thank you for your support of Enterprise.



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