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Enterprise Financial Services Corp Announces Receipt of Regulatory Approvals for Acquisition of First Choice Bancorp

Enterprise Financial Services Corp Announces Receipt of Regulatory Approvals for Acquisition of First Choice Bancorp

Enterprise Financial Services Corp, the holding company of Enterprise Bank & Trust (“EB&T”), announced today that it has received regulatory approval or received a regulatory waiver from the Federal Deposit Insurance Corporation and the Federal Reserve Bank of St. Louis, as applicable, and preliminary approval from the Missouri Division of Finance, for First Choice Bank to be merged into EB&T on the terms and subject to the conditions of the Agreement and Plan of Merger, dated as of April 26, 2021, by and among EFSC, EB&T, First Choice Bancorp (“FCBP”) and First Choice Bank (“First Choice”). The consummation of the merger remains subject to the approval by FCBP’s shareholders of the merger, the approval by EFSC’s shareholders of the merger and the issuance of shares of EFSC’s common stock to holders of FCBP common stock in connection with the merger, and the satisfaction of other closing conditions. EFSC expects that the FCBP acquisition will close in the third quarter of 2021.

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Enterprise Financial Services Corp, with approximately $10.2 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates 39 branch offices in Arizona, California, Kansas, Missouri, Nevada and New Mexico, and SBA loan and deposit production offices in Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah and Washington. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. For more information, please visit enterprisebank.com.

Enterprise Financial Services Corp’s common stock is traded on the Nasdaq Stock Market under the symbol “EFSC”. Please visit our website at www.enterprisebank.com to see our regularly posted material information.

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First Choice Bancorp, headquartered in Cerritos, California, is the bank holding company for First Choice Bank. First Choice Bank is a community-based financial institution that serves primarily commercial and consumer clients in diverse communities and specializes in loans to small- to medium-sized businesses and private banking clients, commercial and industrial loans, and commercial real estate loans. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. First Choice Bank conducts business through eight full-service branches and two loan production offices located in Los Angeles, Orange, and San Diego Counties.

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