Enterprise Financial Services Corp to Acquire Seacoast Commerce Banc Holdings

Enterprise Financial Services Corp to Acquire Seacoast Commerce Banc Holdings

  • Posted: 08/20/2020
  • Jennifer Lian

ST. LOUIS & SAN DIEGO–(BUSINESS WIRE)–Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” “Enterprise,” “we,” “us,” or “our”), the holding company of Enterprise Bank & Trust (“EB&T”), and Seacoast Commerce Banc Holdings (OTCPK: SCBH) (“SCBH”), the holding company of Seacoast Commerce Bank (“Seacoast”), announced today that EFSC, EB&T, SCBH and Seacoast have entered into a definitive merger agreement in a transaction valued at approximately $156 million, or $15.80 per SCBH share, based on the closing price of EFSC’s common stock on August 19, 2020. On a pro forma consolidated basis, the combined company would have approximately $9.7 billion in consolidated total assets as of June 30, 2020.

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