M&A Deal Summary

Enterprise Bank & Trust Acquires First Choice Bank

On April 26, 2021, Enterprise Bank & Trust acquired financial services company First Choice Bank for 398M USD

Acquisition Highlights
  • This is Enterprise Bank & Trust’s 3rd transaction in the Financial Services sector.
  • This is Enterprise Bank & Trust’s largest (disclosed) transaction.
  • This is Enterprise Bank & Trust’s 5th transaction in the United States.
  • This is Enterprise Bank & Trust’s 2nd transaction in California.

M&A Deal Summary
Date 2021-04-26
Target First Choice Bank
Sector Financial Services
Buyer(s) Enterprise Bank & Trust
Deal Type Add-on Acquisition
Deal Value 398M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Duane Morris (Legal)

Target

First Choice Bank

Cerritos, California, United States
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 was founded in 2005 and is based in Cerritos, California.

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Buyer(S) 1

Buyer

Enterprise Bank & Trust

Clayton, Missouri, United States
Category Company
Founded 1988
Sector Financial Services
Employees1,172
Revenue 550M USD (2023)
DESCRIPTION

Enterprise Bank & Trust is a provider of financial services. Enterprise Bank & Trust was incorporated in 1988 and is based in Clayton, Missouri.

DEAL STATS #
Overall 5 of 5
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (California) 2 of 2
Country (United States) 5 of 5
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-20 Seacoast Commerce Banc Holdings

San Diego, California, United States

Seacoast Commerce Banc Holdings is a bank holding company with one wholly-owned banking subsidiary, Seacoast Commerce Bank. Seacoast having five full-service banking branches in California and Nevada, and loan and deposit production offices throughout Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah, and Washington.

Buy $156M
Mergr

Product

Company

Legal