Enterprise Financial Services Corp. is acquiring Jefferson County Bancshares Inc., and its Eagle Bank and Trust Co. subsidiary, in a deal valued at $130.6 million.
As part of the deal, Jefferson County Bancshares shareholders can choose to receive either $85.39 in cash per share or 2.75 shares of Enterprise Financial stock for each of their shares.
“This is clearly a winning combination,” Peter Benoist, CEO of Enterprise Financial, said in a statement. “Eagle’s solid real estate loan portfolio will add further diversity to our C&I oriented loan book. Moreover, the bank’s sizable consumer deposit base will supplement our more business related core deposits, accelerating our capacity to efficiently fund future growth.”
Read more: St. Louis Business Journal