Enterprise Financial Services completed its merger with Trinity Capital, in which the latter’s wholly-owned subsidiary, Los Alamos National Bank, merged with and into and Enterprise Bank & Trust (EB&T).
The merger added approximately $1.2 billion in assets, $700 million in loans and $1.1 billion in deposits to Enterprise and makes New Mexico Enterprise’s second largest market. Following this transformational merger, Enterprise will have approximately $7 billion in total assets.
“We are thrilled with the completion of the merger of our two organizations,” said Jim Lally, Enterprise president and CEO. “We are excited to continue to build upon the extraordinary past performance of both companies’ commitment to their employees, customers and communities. Our combined organization is poised to deliver strong returns and significant value for our shareholders as we continue to provide the highest level of service across all of our communities into the future.”
The merger also further enhanced the geographic diversity of Enterprise’s footprint, adding six full-service locations in Los Alamos, Santa Fe, and Albuquerque, NM. The locations will continue to operate under their existing systems until EB&T completes its systems integration, which is expected to be finalized in mid-2019. Los Alamos customers then will have access to the full range of products and services available currently to EB&T customers.
In connection with completion of the merger, two Trinity directors, Tony Scavuzzo of Castle Creek Capital, and James F. Deutsch of Patriot Financial Partners, joined Enterprise’s board of directors, while James E. Goodwin, Jr., chairman of the boards of directors of Trinity and Los Alamos, joined the EB&T board of directors.
Wells Fargo Securities served as financial advisor to Enterprise on the transactions, while Holland & Knight served as its legal counsel. Keefe, Bruyette & Woods as financial advisor to Trinity, while Hunton Andrew Kurth served as its legal counsel.
Headquartered in Clayton, MO, Enterprise Bank & Trust operates 34 branch offices in Arizona, Kansas, Missouri and New Mexico and offers a range of business and personal banking services.
