Enterprise Bank completes acquisition of 12 First Interstate branches

Enterprise Financial Services Corp (NASDAQ: EFSC) announced the completion of its subsidiary Enterprise Bank & Trust's acquisition of 12 branches from First Interstate Bank, a subsidiary of First Interstate BancSystem Inc (NASDAQ: FIBK).

The transaction includes 10 branches in Arizona and two branches in Kansas, adding approximately $300 million in loans and $645 million in deposits to Enterprise's operations. Following the acquisition, Enterprise will have approximately $17 billion in total assets.

"We are pleased to announce the completion of the acquisition of twelve First Interstate Bank branches in Arizona and Kansas City," said James B. Lally, President and Chief Executive Officer of Enterprise. "In addition to an enhanced funding profile, the addition of these branches allows us to expand our access to existing markets with attractive growth opportunities."

The acquired branches have been converted to Enterprise Bank & Trust branch offices. Former First Interstate Bank customers now have access to Enterprise Bank & Trust's commercial and retail banking products and services.

The acquisition expands Enterprise's presence in Arizona and the Kansas City metropolitan area. Janney Montgomery Scott LLC served as financial advisor and Holland & Knight LLP acted as legal advisor to Enterprise on the transaction.

Enterprise Financial Services Corp, headquartered in Clayton, Missouri, had approximately $16.1 billion in assets as of June 30, 2025. The company operates branch offices in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico through its subsidiary Enterprise Bank & Trust.

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