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EFSC on Nasdaq

ENTERPRISE FINANCIAL SERVICES CORP

ENTERPRISE FINANCIAL SERVICES CORP is an American state commercial bank based in Clayton, incorporated in Delaware.2 Its shares trade on Nasdaq under the symbol EFSC.2

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Last updated Oct 21, 2026.

Overview

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  • TickerEFSC on Nasdaq2
  • IndustryState Commercial Banks2
  • HeadquartersClayton, United States2
  • Incorporated inDE3
  • Business address150 North Meramec, 150 North Meramec, Clayton, Mo 631053
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI5493001XTU5DLD6321292
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 24636002

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Some of the information in this Annual Report on Form 10-K may contain “forward-looking statements” within the meaning of and intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company, and include, without limitation, statements about the Company’s plans, strategies, goals, objectives, expectations, or consequences of statements about the future performance, operations, products and services of the Company, as well as statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and d…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income678910$201.4M in 2025+117% since 2019
0$100.0M$200.0M$300.0M2019: $92.7M$92.7M20192020: $74.4M$74.4M2020−20%2021: $133.1M$133.1M2021+79%2022: $203.0M$203.0M2022+53%2023: $194.1M$194.1M2023−4%2024: $185.3M$185.3M2024−5%2025: $201.4M$201.4M2025+9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Interest and Fee Income, Loans and Leases$754.5M$754.9M$687.9M
Interest Income, Securities, Operating, Taxable$81.6M$51.4M$39.5M
Interest Income, Securities, Operating, Tax Exempt$32.7M$24.0M$22.7M
Interest Income, Domestic Deposits$17.6M$18.9M$13.4M
Dividend Income, Operating$2.1M$1.8M$1.4M
Interest and Dividend Income, Operating, Total$888.4M$851.1M$764.9M
Interest Expense, Deposits$241.1M$264.6M$183.7M
Interest Expense, Subordinated Notes and Debentures$9.5M$10.5M$9.8M
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Long-Term$3.4M$1.7M$2.8M
Interest Expense, Federal Funds Purchased and Securities Sold under Agreements to Repurchase$7.6M$6.2M$6.1M
Interest Expense, Total$261.7M$283.0M$202.3M
Interest Income (Expense), Net, Total$626.7M$568.1M$562.6M
Provision for loan losses not covered under FDIC loss share$26.3M$21.5M$36.6M
Interest Income (Expense), after Provision for Loan Loss, Total$600.4M$546.6M$526.0M
Noninterest Income$113.1M$69.7M$68.7M
Labor and Related Expense$198.7M$182.7M$164.6M
Deposit Costs$103.2M$88.6M$72.3M
Occupancy, Net$20.2M$17.2M$16.5M
Information Technology and Data Processing$20.2M$19.7M$15.2M
Professional Fees$9.6M$6.3M$5.7M
Other Noninterest Expense$77.9M$70.5M$73.9M
Noninterest Expense, Total$429.8M$385.0M$348.2M
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total$283.7M$231.2M$246.5M
Income Tax Expense (Benefit)$82.3M$46.0M$52.5M
Net Income (Loss) Attributable to Parent, Total$201.4M$185.3M$194.1M
Preferred Stock Dividends and Other Adjustments$3.8M$3.8M$3.8M
Net Income (Loss) Available to Common Stockholders, Basic, Total$197.6M$181.5M$190.3M
Basic (usd per share)$5.34$4.86$5.09
Diluted (usd per share)$5.31$4.83$5.07
Recaptured tax credit$32.1M

Compare ENTERPRISE FINANCIAL SERVICES CORP with another company

Corporate structure

ENTERPRISE FINANCIAL SERVICES CORP sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ENTERPRISE FINANCIAL SERVICES CORP

  • DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on ENTERPRISE FINANCIAL SERVICES CORP, latest Oct 8, 2026 (2 filings since Feb 9, 2024)
  • Wellington Management Company Filed SCHEDULE 13G/A on ENTERPRISE FINANCIAL SERVICES CORP, latest May 15, 2026 (4 filings since Feb 8, 2024)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on ENTERPRISE FINANCIAL SERVICES CORP, latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on ENTERPRISE FINANCIAL SERVICES CORP, latest Mar 26, 2026 (4 filings since Feb 9, 2023)
  • EARNEST PARTNERS LLC Filed SCHEDULE 13G/A on ENTERPRISE FINANCIAL SERVICES CORP, latest May 15, 2025 (4 filings since Feb 11, 2022)
  • BlackRock Filed SCHEDULE 13G/A on ENTERPRISE FINANCIAL SERVICES CORP, latest Apr 17, 2025 (4 filings since Feb 1, 2022)
  • ENTERPRISE FINANCIAL SERVICES CORP Clayton, Missouri, United States
    • Enterprise Bank & Trust Clayton, Missouri, United States
    • Enterprise IHC, LLC Subsidiary · Missouri, United States
    • Enterprise Portfolio Holdings, Inc. Subsidiary · Nevada, United States
    • Enterprise Real Estate Mortgage Company, LLC Subsidiary · Missouri, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ENTERPRISE FINANCIAL SERVICES CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$14.5M10 Dec 31, 2025$11.7M10 Dec 31, 2024+23.8%
Buildings and improvements$67.5M10 Dec 31, 2025$54.6M10 Dec 31, 2024+23.8%
Furniture and fixtures$27.7M10 Dec 31, 2025$23.6M10 Dec 31, 2024+17.0%
Property and equipment, before depreciation$109.7M10 Dec 31, 2025$89.9M10 Dec 31, 2024+22.0%
Accumulated depreciation$50.7M10 Dec 31, 2025$44.9M10 Dec 31, 2024+12.9%
Property and equipment, net$59.0M10 Dec 31, 2025$45.0M10 Dec 31, 2024+31.1%
Operating-lease assets (leased space)$24.0M10 Dec 31, 2025$22.8M10 Dec 31, 2024+5.6%

Investments

ItemLatestA year beforeChange
Loans, net of allowance$11.7B10 Dec 31, 2025$11.1B10 Dec 31, 2024+5.2%
Deposits held (banks)$14.6B10 Dec 31, 2025$13.1B10 Dec 31, 2024+11.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$417.0M10 Dec 31, 2025$365.2M10 Dec 31, 2024+14.2%
Intangible assets, net (excluding goodwill)$21.2M10 Dec 31, 2025$8.5M10 Dec 31, 2024+149.6%
Finite-lived intangibles, net$21.2M10 Dec 31, 2025$8.5M10 Dec 31, 2024+149.6%

Properties, in its own words

Our executive offices are located at 150 North Meramec Avenue, Clayton, Missouri, 63105. As of December 31, 2025, we utilized banking locations and administrative offices throughout our market areas of Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico. Additionally, the Company has a limited network of loan production offices and deposit production offices in various other states. We own or lease our facilities and believe all of our properties are in good condition to meet our business needs.

Item 2 of the 10-K filed Feb 27, 2026.5

Leadership

Who has led ENTERPRISE FINANCIAL SERVICES CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kevin C. Eichner2006–2009
  2. Paul L. Vogel2007
  3. Peter Benoist2010–2017
  4. Joseph J. Gazzoli2011–2012
  5. James Brian Lally2018–now

Chair

  1. Peter Benoist2006–2009
  2. Stephen P. Marsh2015–2016

President

  1. Peter Benoist2006–2017
  2. Stephen P. Marsh2006–2014
  3. Kevin C. Eichner2006–2009
  4. Richard C. Leuck2007–2014
  5. Linda Hanson2007–2012
  6. Paul L. Vogel2007
  7. Steven L. Ray2007–2010
  8. James E. Graser2008–2012
  9. Scott Richard Goodman2009–2017
  10. James Brian Lally2017–2018

Chief financial officer

  1. Frank H. Sanfilippo2006–2013
  2. S. Turner Keene2013–now

Chief operating officer

  1. Stephen P. Marsh2006
  2. Richard C. Leuck2009–2013
  3. Sam S. Pepper Jr.2012
  4. Frank H. Sanfilippo2013–2016
2010201520202025
Board members and other officers (51)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Enterprise Bank & Trust Missouri4
  • Enterprise IHC, LLC Missouri4
  • Enterprise Portfolio Holdings, Inc. Nevada4
  • Enterprise Real Estate Mortgage Company, LLC Missouri4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • ENTERBANK HOLDINGS INCDec 16, 1996 to Apr 30, 20023

Timeline

  1. Aug 20, 20268-K Executive or director change85
  2. Jul 27, 20268-K Regulation FD disclosure86
  3. Jul 22, 20268-K Results of operations; Other events87
  4. Jun 17, 20268-K Entered a material agreement; New debt or obligation88
  5. Jun 9, 20268-K Other events89
  6. May 15, 20268-K Shareholder vote90
  7. Apr 28, 20268-K Regulation FD disclosure91
  8. Apr 22, 20268-K Results of operations92
  9. Mar 9, 20268-K Other events93
  10. Jan 29, 20268-K Regulation FD disclosure94
  11. Jan 26, 20268-K Results of operations95
  12. Oct 29, 20258-K Regulation FD disclosure96
  13. May 3, 2018New chief executive James Brian Lally becomes CEO14
  14. Jun 14, 2011New chief executive Joseph J. Gazzoli becomes CEO15
  15. Jan 14, 2010New chief executive Peter Benoist becomes CEO16
  16. Apr 6, 2007New chief executive Paul L. Vogel becomes CEO17
  17. Feb 15, 2006New chief executive Kevin C. Eichner becomes CEO18
  18. Dec 30, 1994Founded ENTERPRISE FINANCIAL SERVICES CORP is founded2

Calendar

Coming up

  1. Oct 21, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.20 a share, on Oct 27, 2025.97

When it reported results

  1. Jul 22, 2026Reported quarterly or annual results87
  2. Apr 22, 2026Reported quarterly or annual results92
  3. Jan 26, 2026Reported quarterly or annual results95
  4. Oct 27, 2025Reported quarterly or annual results98
  5. Jul 28, 2025Reported quarterly or annual results99
  6. Apr 28, 2025Reported quarterly or annual results100
  7. Jan 27, 2025Reported quarterly or annual results101
  8. Oct 21, 2024Reported quarterly or annual results102

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

486 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 72 major events, 313 insider forms, 19 large holders, 62 other. The latest 20:

  1. Oct 8, 2026SCHEDULE 13G/A EDGAR
  2. Aug 20, 20268-K EDGAR
  3. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  4. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  5. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  10. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  12. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 4, 2026N-PX EDGAR
  14. Aug 4, 202613F-HR EDGAR
  15. Jul 31, 202610-Q EDGAR
  16. Jul 27, 20268-K EDGAR
  17. Jul 22, 20268-K EDGAR
  18. Jul 8, 20264 PRIMARY DOCUMENT EDGAR
  19. Jul 8, 20264 PRIMARY DOCUMENT EDGAR
  20. Jul 8, 20264 PRIMARY DOCUMENT EDGAR

The 486 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

31 open-market trades by officers, directors and large owners since October 2021: 8 buys and 23 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 28, 2026PONDER MARK GSEVP, Chief Admin. OfficerSale1,250$60.55$75.7KForm 4
Aug 4, 2025Finn Michael EDirectorBuy1,500$54.11$81.2KForm 4
Jun 26, 2025LALLY JAMES BRIANCEOSale1,828$55.16$100.8KForm 4
Jun 24, 2025LALLY JAMES BRIANCEOSale1,655$55.04$91.1KForm 4
Jun 6, 2025Finn Michael EDirectorBuy1,500$52.50$78.7KForm 4
May 15, 2025LALLY JAMES BRIANCEOSale400$55.01$22.0KForm 4
May 13, 2025LALLY JAMES BRIANCEOSale2,206$55.04$121.4KForm 4
May 12, 2025LALLY JAMES BRIANCEOSale4,689$55.18$258.7KForm 4
Feb 28, 2025HAVEL JAMES MDirectorSale5,525$58.47$323.0KForm 4
Nov 6, 2024SANBORN RICHARDDirectorSale100,000$59.56$6.0MForm 4
Jul 25, 2024SANBORN RICHARDDirectorSale94,815$53.73$5.1MForm 4
Dec 15, 2023SANBORN RICHARDDirectorSale2,100$45.00$94.5KForm 4
Jun 30, 2023GUEST ROBERT E JRDirectorBuy52$39.06$2.0KForm 4
May 19, 2023MARSH STEPHEN PDirectorBuy2,473$40.40$99.9KForm 4
Feb 27, 2023Andrich LyneDirectorBuy1,840$54.35$100.0KForm 4
Feb 3, 2023SANBORN RICHARDDirectorSale30,000$55.42$1.7MForm 4
Jan 31, 2023SANBORN RICHARDDirectorSale10,000$53.02$530.2KForm 4
Jan 30, 2023SANBORN RICHARDDirectorSale8,200$52.20$428.0KForm 4
Jan 30, 2023SANBORN RICHARDDirectorSale53,338$52.09$2.8MForm 4
Jan 27, 2023SANBORN RICHARDDirectorSale10,000$52.00$520.0KForm 4

All 31 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025James B. Lally58$930.4K$3.6M109
2025Keene S. Turner46$644.2K$1.9M109
2025Scott R. Goodman$521.3K$1.4M109
2025Douglas N. Bauche56$467.7K$1.2M109
2025Nicole M. Iannacone$445.5K$1.1M109
2025Mark G. Ponder$440.2K$1.1M109
2024President and Chief Executive Officer – EFSC; and Chief Executive Officer – EB&T$896.3K$3.6M109
2024Senior Executive Vice PresidentChief Financial Officer and Chief Operating Officer – EFSC, and Senior Executive Vice President and Assistant Corporate Secretary, EB&T$619.5K$1.9M109
2024Vice Chairman; former Senior Executive Vice President – EFSC and President – EB&T$501.2K$1.4M109
2024Senior Executive VicePresident and Chief Banking Officer –EFSC and EB&T$441.2K$1.2M109
2023President and Chief Executive Officer – EFSC; and Chief Executive Officer – EB&T$861.4K$3.4M109
2023Senior Executive Vice PresidentChief Financial Officer and Chief Operating Officer – EFSC, and Senior Executive Vice President and Assistant Corporate Secretary, EB&T$583.7K$1.8M109
2023Vice Chairman; former Senior Executive Vice President – EFSC and President – EB&T$476.0K$1.4M109
2023Senior Executive VicePresident and Chief Banking Officer –EFSC and EB&T$416.0K$1.1M109

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,567,204$235.0M0.0%+172,601
Wellington Management Group Llp2,909,537$191.7M0.0%−340,594
Dimensional Fund Advisors LP2,231,244$147.0M0.0%+42,478
State Street Corp1,603,494$105.6M0.0%+249,149
Vanguard Capital Management LLC1,563,290$103.0M0.0%−16,767
Earnest Partners LLC1,392,133$91.7M0.3%−53,400
American Century Companies Inc1,212,761$79.9M0.0%+160,408
Geode Capital Management, LLC980,654$64.6M0.0%+46,919
Nomura Asset Management International Inc.929,832$61.3M0.1%−39,580
First Trust Advisors LP917,310$60.4M0.0%−309,489
PL Capital Advisors, LLC733,329$48.3M13.4%No change
Jennison Associates LLC700,312$46.1M0.0%+92,420
Western Financial Corp/CA575,021$37.9M11.1%−1,484
Vanguard Portfolio Management LLC570,530$37.6M0.0%+33,063
Enterprise Financial Services Corp511,960$33.7M13.8%+179,398
Charles Schwab Investment Management Inc440,943$29.0M0.0%+3,873
Northern Trust Corp388,556$25.6M0.0%+20,248
Goldman Sachs Group Inc359,537$23.7M0.0%+89,385
Jpmorgan Chase & Co349,718$23.2M0.0%+80,811
Qube Research & Technologies Ltd346,149$22.8M0.0%−130,024
Bank Of America Corp /de/344,784$22.7M0.0%−52,573
Bridgeway Capital Management, LLC292,272$19.3M0.3%−3,440
Endeavour Capital Advisors Inc282,702$18.6M3.8%+206
Fisher Asset Management, LLC245,348$16.2M0.0%+112,118
Vanguard Fiduciary Trust Co241,642$15.9M0.0%+4,280

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ENTERPRISE FINANCIAL SERVICES CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARENTERPRISE FINANCIAL SERVICES CORP1
  • CIK0001025835
  • Employer ID (EIN)43-17062595
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address150 North Meramec, 150 North Meramec, Clayton, MO 631051
  • Phone31472555001
  • Shares outstanding36,192,520 as of Jul 29, 202612
  • Public float$2.0B as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, St. Louis, Missouri PCAOB ID 34; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceOct 24, 19961
  • Filings2,573 in all: 4 (1,295), 8-K (345), 5 (301), 10-Q (89), 13F-HR (67), 3 (57), 4/A (43), 425 (38)1
    All 57 form types

    SC 13G/A (31), DEF 14A (30), 10-K (27), DEFA14A (23), 11-K (19), 5/A (16), S-8 (15), UPLOAD (15), CORRESP (14), SC 13G (14), 144 (12), EFFECT (10), 424B5 (9), 8-K/A (8), PRE 14A (8), S-3 (7), S-4/A (7), SCHEDULE 13G/A (7), FWP (6), S-4 (5), 3/A (4), S-3/A (4), 10-K405 (3), 10-Q/A (3), 305B2 (3), DEFR14A (3), N-PX (3), REGDEX (3), S-3ASR (3), 424B3 (2), 8-A12B (2), S-1/A (2), S-8 POS (2), SC 13D (2), SC 13D/A (2), 10-K/A (1), 10-K405/A (1), 13F-HR/A (1), 424B1 (1), 424B2 (1), 8-A12G (1), CERT (1), D (1), NT 10-K (1), POS EX (1), PRER14A (1), REGDEX/A (1), S-1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Jul 31, 2026
    Proxy statement (DEF 14A) Mar 31, 2026
    Latest 8-K (8-K) Aug 20, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $.01 per shareEFSCNasdaq Global Select Market

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks ENTERPRISE FINANCIAL SERVICES CORP names in Item 1A of its 10-K filed Feb 27, 2026: 43 risks under these headings, as written.5

  • Risks Relating to General Economic and Market Conditions
  • An economic downturn could adversely affect our financial condition, results of operations or cash flows.
  • We face potential risk from changes in governmental monetary and fiscal policies.
  • Adverse developments affecting the banking industry, and resulting media coverage, could eroded client confidence
  • in the banking system and could have a material effect on our operations and/or stock price.
  • Legal, Regulatory and Tax Risks
  • SBA lending is an important part of our business. Our SBA lending program is dependent upon the U.S. federal government, and we face specific risks associated with originating SBA loans.
  • Changes in government regulation and supervision may increase our costs or impact our ability to operate in certain lines of business.
  • We are subject to numerous laws designed to protect consumers, including the CRA and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • We are subject to compliance with the Bank Secrecy Act and other anti-money laundering statutes and regulations, and failure to comply with these laws could lead to a wide variety of sanctions.
  • If the Company or the Bank incur losses that erode its capital, it may become subject to enhanced regulation or supervisory action.
  • Financial Risks
The other 34 risks
  • Our ACL may not be adequate to cover actual loan losses.
  • We may not be able to maintain our historical rate of growth or profitability, which could have a material adverse effect on our ability to successfully implement our business strategy.
  • We may incur impairments to goodwill.
  • Declines in asset values may result in impairment charges and adversely impact the value of our investments and our financial performance and capital.
  • We invest in mortgage-backed obligations and such obligations have been, and are likely to continue to be, impacted by market dislocations, declining home values and prepayment risk, which may lead to volatility in cash flow and market risk and declines in the value of our investment portfolio.
  • Credit and Liquidity Risks
  • Our loan and deposit portfolios are in certain markets which could result in increased concentration risk.
  • There are material risks involved in commercial lending that could adversely affect our business.
  • The ability of our borrowers to repay their loans may be adversely affected by an increase in market interest rates which could result in increased credit losses. These increased credit losses, where the Bank has retained credit exposure, could decrease our assets, net income and available cash.
  • Our loan portfolio includes loans secured by real estate, which could result in increased credit risk.
  • Our C&I loans and sponsor finance loans are underwritten based primarily on cash flow, profitability and enterprise value of the client and are not fully covered by the value of tangible assets or collateral of the client. Consequently, if any of these transactions becomes nonperforming, we could experience significant losses.
  • Widespread financial difficulties or downgrades in the financial strength or credit ratings of life insurance providers could lessen the value of the collateral securing our life insurance premium finance loans and impair our financial condition and liquidity.
  • Our construction and land development loans are based upon estimates of costs and value associated with the completed project. These estimates may be inaccurate and we may be exposed to more losses on these projects than on other loans.
  • We are subject to environmental risks associated with owning real estate or collateral.
  • We may be obligated to indemnify certain counterparties in financing transactions we enter into pursuant to the New Markets Tax Credit Program.
  • If we fail to comply with requirements of the federal New Markets Tax Credit program, the Treasury CDFI could seek any remedies available under its Allocation Agreement with us, and we could suffer significant reputational harm and be subject to greater scrutiny from banking regulators.
  • Liquidity risk could impair our ability to fund operations and meet debt coverage obligations, and jeopardize our financial condition.
  • Our utilization of brokered deposits could adversely affect our liquidity and results of operations.
  • By engaging in derivative transactions, we are exposed to additional credit and market risk in our banking business.
  • Competitive and Reputational Risks
  • The loss of any of our executive officers or other key employees, or the inability to recruit highly skilled and other key employees, may adversely affect our operations.
  • We face significant competition.
  • Technology is continually changing and we must effectively implement new innovations in providing services to our clients.
  • Costs and levels of deposits are affected by competition that could increase our funding costs or liquidity risk.
  • Acquisition Risks
  • We have engaged in and may continue to engage in expansion through acquisitions, and these acquisitions present a number of risks related both to the acquisition transactions and to the integration of the acquired businesses.
  • We may be unable to successfully integrate new business lines into our existing operations.
  • As we expand outside our current markets, we may encounter additional risks that may adversely affect us.
  • Technology and Cybersecurity Risks
  • A failure in or breach, or the inability to recognize a potential breach of our operational or security systems, or those of our third party service providers, including as a result of cyber-attacks, may cause industry-wide operational disruptions that could materially affect our business, result in unintentional disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and adversely impact our earnings.
  • We rely on third-party vendors to provide key components of our business infrastructure.
  • Risks Relating to Our Common Stock and Depositary Shares
  • The price of our common stock and depositary shares may be volatile or may decline.
  • The trading volume in our common stock and depositary shares is less than that of other larger financial institutions.
  • Our ability to pay dividends is limited by various statutes and regulations and depends primarily on the Bank’s ability to distribute funds to us and is also limited by various statutes and regulations.
  • There can be no assurance of any future dividends on our common stock or our depositary shares.
  • Our outstanding preferred stock and debt securities, including debt securities related to our trust preferred securities, restrict our ability to pay dividends on our capital stock.
  • Anti-takeover provisions could negatively impact our stockholders.
  • General Risk Factors
  • Climate change may materially adversely affect our business and results of operations.

Legal proceedings

The Company is, from time to time, a party to various legal proceedings arising out of its businesses. Management believes there are no such legal proceedings pending or threatened against the Company in the ordinary course of business, directly, indirectly, or in the aggregate that, if determined adversely, would have a material adverse effect on the business, consolidated financial condition, results of operations or cash flows of the Company.

For more information on our legal proceedings, see “Item 8. Note 12 – Litigation and Other Contingencies” in this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.5

Sources

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