Enterprise Bank & Trust Opens Camelback Road Branch In Phoenix

Oct. 13, 2010 - PRLog -- (St. Louis) – Enterprise Bank & Trust, a banking subsidiary of
Enterprise Financial Services Corp , has opened a full-service branch at 3900 East Camelback Road in central Phoenix.

The Camelback branch, which was relocated from a nearby temporary location, is Enterprise’s second location in Phoenix. In April 2010, the Bank opened a branch at 2440 North Litchfield Road in Phoenix’s West Valley.

Enterprise entered the Phoenix market with a loan production office in early 2008. It acquired Valley Capital bank in Mesa, Arizona in an FDIC-assisted transaction in December 2009. In July 2010, Enterprise acquired approximately $260 million in Arizona-originated assets from the FDIC in connection with the failure of Home National Bank in Blackwell, Oklahoma.

Enterprise’s Arizona operations are led by Jack Barry, executive vice president and Arizona market president. The Bank has three commercial banking teams headed by Mary Holman, Nick Hudec and Mike Theile. Jason Aderhold heads retail banking, and Lanny Dickinson and Scott Beermann manage special assets and credit administration.

Barry commented, “Enterprise has demonstrated our strong commitment to the Phoenix community. We’ve grown from four employees and $30 million in assets in Arizona to twenty-three associates and more than $270 million in assets in less than a year. Enterprise is actively making loans in this market and rapidly gaining clients who value our personal approach and private business expertise.”

Enterprise Financial is a banking and wealth management firm operating in metropolitan St. Louis, Kansas City and Phoenix.  Enterprise specializes in serving the needs of privately held businesses, their owner families and other success-minded individuals.  

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Readers should note that in addition to the historical information contained herein, this press release contains forward-looking statements, which are inherently subject to risks and uncertainties that could cause actual results to differ materially from those contemplated from such statements.  We use the words “expect” and “intend” and variations of such words and similar expressions in this communication to identify such forward-looking statements.  Factors that could cause or contribute to such differences include, but are not limited to, burdens imposed by federal and state regulations of banks, credit risk, exposure to local and national economic conditions, risks associated with rapid increase or decrease in prevailing interest rates, effects of mergers and acquisitions, effects of critical accounting policies and judgments, legal and regulatory developments and competition from banks and other financial institutions, as well as other risk factors described in Enterprise Financial’s 2009 Annual Report on Form 10-K.  Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them in light of new information or future events.

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