ST. LOUIS, Mo.–(BUSINESS WIRE)–Enterprise Financial Services Corp (NASDAQ: EFSC) (“Enterprise,” or “EFSC”), the holding company for Enterprise Bank & Trust (“EB&T”), today announced the completion of its merger with Trinity Capital Corporation (“Trinity”) and the merger of EB&T with Trinity’s wholly owned subsidiary, Los Alamos National Bank (“LANB”). The merger adds approximately $1.2 billion in assets, $700 million in loans and $1.1 billion in deposits to Enterprise and makes New Mexico Enterprise’s second largest market. Following this transformational merger, Enterprise will have approximately $7 billion in total assets.
“We are thrilled with the completion of the merger of our two organizations,” said Jim Lally, President and Chief Executive Officer of Enterprise. “We are excited to continue to build upon the extraordinary past performance of both companies’ commitment to their employees, customers and communities. Our combined organization is poised to deliver strong returns and significant value for our shareholders as we continue to provide the highest level of service across all of our communities into the future.” *
The merger further enhances the geographic diversity of Enterprise’s footprint with LANB’s six full-service locations in Los Alamos, Santa Fe, and Albuquerque, New Mexico. The New Mexico locations will continue to operate under LANB’s existing systems until EB&T completes its systems integration, which is expected to be finalized in mid-2019. LANB customers then will have access to the full range of products and services available currently to EB&T customers.
In connection with completion of the merger, two Trinity directors, Tony Scavuzzo of Castle Creek Capital, LLC and James F. Deutsch of Patriot Financial Partners, LP, have joined EFSC’s board of directors. Additionally, James E. Goodwin, Jr., Chairman of the boards of directors of Trinity and LANB, has joined the board of directors of EB&T.
*The statement quoted above was made by an executive of a Castle Creek portfolio company.
The portfolio company executive has not received compensation for the above statement and this statement is solely his opinion and representative of his experience with Castle Creek. Other portfolio company executives may not necessarily share the same view. An executive in a Castle Creek portfolio company may have an incentive to make a statement that portrays Castle Creek in a positive light as a result of the executive's ongoing relationship with Castle Creek and any influence that Castle Creek may have or had over the governance of the portfolio company and the compensation of its executives. It should not be assumed that Castle Creek's investment in the referenced portfolio company has been or will ultimately be profitable.