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St. Louis-based Enterprise Financial closes merger

By Madison Parry

Holding company of Enterprise Bank & Trust, Enterprise Financial Services Corp, has announced a completed merger with California-based Seacoast Commerce Banc Holdings. Enterprise is now estimated to have $9.7 billion in total assets following the merger.

Headquartered in St. Louis with operations in the Kansas City metro and beyond, Enterprise Bank & Trust’s holding company, Enterprise Financial Services Corp, has officially completed its merger with

Enterprise made the announcement Thursday. The merger adds approximately $1.3 billion in assets, $1.2 billion in loans and $1.0 billion in deposits to the company, according to a news release.

The holding company is now said to have around $9.7 billion in total assets.

“We are thrilled with the completion of the merger of our two organizations,” Jim Lally, President and CEO of Enterprise said. “The addition of one of the top SBA lenders in the nation complements our commercial and specialty lending verticals, while enhancing our funding profile with Seacoast’s deposit expertise in the property management, homeowners’ associations, and escrow services. We believe the acquisition of Seacoast will help us meet the needs of our customers while delivering continued shareholder value.”