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Jefferson County Bancshares stockholders OK Enterprise Financial deal

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Jefferson County Bancshares stockholders OK Enterprise Financial deal

Jefferson County Bancshares Inc. stockholders recently approved the company's transaction with Enterprise Financial Services Corp, Enterprise Financial CEO Peter Benoist said Jan. 24.

The deal is expected to close in the first quarter.

During Enterprise Financial's fourth-quarter 2016 earnings call, President James Lally said that the company would look at an M&A opportunity "very closely" if it added value, was complementary to what the company was doing and was a cultural fit, just like Jefferson County Bancshares.

Also during the call, Enterprise Bank & Trust President Scott Goodman said that Jeff Friesen was named regional president in Arizona.

Enterprise Financial on Jan. 23 reported fourth-quarter 2016 net income of $13.6 million, or 67 cents per share, compared to the year-ago period's $10.7 million, or 52 cents per share. For 2016, net income was $48.8 million, or $2.41 per share, compared to $38.5 million or $1.89 per share for 2015.