EFSC · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

Enterprise Financial Services

24 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Third-party technology vendors

depends onnamed as a risk

We rely on third-party vendors to provide key components of our business infrastructure.Risk factors (Item 1A)

Federal Home Loan Bank (FHLB)

depends on

This is supplemented by borrowing or other deposit sources, including advances from the FHLB and brokered certificates of deposits.Business (Item 1)

Also named by C, CUBI, FHN, FITB, FSUN, HBAN, SF, UNM

Other companies

First Interstate Bank

$292.0 million in loans and $609.5 million in depositsnamed as a risk

In 2025, the Company expanded its presence in Arizona and Kansas City through an acquisition of 12 former First Interstate Bank branches (the “Branch Acquisition”) that added $292.0 million in loans and $609.5 million in deposits as of December 31, 2025.Business (Item 1)

Life insurance providers

depends onnamed as a risk

In particular, if one or more large nationwide life insurance providers were to fail, the value of our portfolio could be significantly negatively impacted.Risk factors (Item 1A)

Places

St. Louis

concentrated innamed as a risk

A majority of our loans are to businesses and individuals in the St. Louis, Kansas City, Phoenix, Los Alamos, Albuquerque, Santa Fe, Los Angeles, San Diego, Dallas, and Las Vegas metropolitan areas.Risk factors (Item 1A)

Kansas City

concentrated innamed as a risk

Phoenix

concentrated innamed as a risk

Hazards

Wildfires and earthquakes

named as a risk

Severe weather events may cause operational disruptions and damage to both our properties and properties securing our loans.Risk factors (Item 1A)

Commodities and inputs

Brokered deposits

depends onnamed as a risk

Our utilization of brokered deposits could adversely affect our liquidity and results of operations.Risk factors (Item 1A)

Also named by ALLY, CASH, CUBI, PNFP, SLM

Agency mortgage-backed securities

exposed to its pricenamed as a risk

We invest in mortgage-backed obligations and such obligations have been, and are likely to continue to be, impacted by market dislocations, declining home values and prepayment risk, which may lead to volatility in cash flow and market risk and declines in the value of our investment portfolio.Risk factors (Item 1A)

Also named by NLY, TFC

Regulators

U.S. Department of the Treasury CDFI Fund

subject to · $80.0 millionnamed as a risk

If we fail to comply with requirements of the federal New Markets Tax Credit program, the Treasury CDFI could seek any remedies available under its Allocation Agreement with us, and we could suffer significant reputational harm and be subject to greater scrutiny from banking regulators.Risk factors (Item 1A)

Consumer Financial Protection Bureau (CFPB)

subject to · more than $10 billion in assets

The Company has more than $10 billion in assets and therefore is subject to examination by the CFPB.Business (Item 1)

Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more

Federal Reserve

subject to

The Company is a financial holding company registered under the BHCA and is subject to regulation, supervision and examination by the Federal Reserve.Business (Item 1)

Also named by AGNC, AUB, AXP, BAC, CASH, COF, DX, EWBC and 24 more

FDIC

subject to

In addition, as a Federal Reserve non-member bank, the Bank is subject to supervision and regulation by the FDIC.Business (Item 1)

Also named by ALLY, HBAN, PFG

Missouri Division of Finance

subject to

The Bank is a Missouri trust company with banking powers and is subject to supervision and regulation by the Missouri Division of Finance.Business (Item 1)

Also named by SF

Laws and programs

Durbin Amendment

subject to · 21 cents plus 5 basis pointsnamed as a risk

The Durbin Amendment cap became effective for the Bank on July 1, 2022 and resulted in a reduction in interchange income earned by the Bank.Business (Item 1)

Also named by CPAY, FSUN, PB, PNFP, SOFI

Basel III Capital Rules

subject to · $93.6 million of trust preferred securitiesnamed as a risk

At December 31, 2025, the Company had $93.6 million of trust preferred securities that are grandfathered under this provision.Business (Item 1)

Also named by CFR, EWBC, PNC, UBSI

SBA 7(a) loan program

subject to · 75% portion guaranteed by the SBAnamed as a risk

Our SBA lending program is dependent upon the U.S. federal government.Risk factors (Item 1A)

Also named by FSUN

New Markets Tax Credit Program

subject to · $433.0 millionnamed as a risk

We may be obligated to indemnify certain counterparties in financing transactions we enter into pursuant to the New Markets Tax Credit Program.Risk factors (Item 1A)

FDIC special assessment

subject to · approximately 13.4 basis points per year

The special assessments were collected at an annual rate of approximately 13.4 basis points per year (3.36 basis points per quarter) over eight quarters in 2024 and 2025.Business (Item 1)

Also named by BPOP, CFG, CFR, CUBI, EWBC, FCNCA, GBCI, HBAN and 10 more

Community Reinvestment Act (CRA)

subject tonamed as a risk

If the Bank fails to maintain at least a "satisfactory" rating under the CRA, it would be subject to restrictions on certain new activities and acquisitions.Business (Item 1)

Also named by ALLY, AMP, AUB, CFG, CFR, EWBC, FCNCA, FHN and 20 more

Bank Secrecy Act

subject tonamed as a risk

We are subject to compliance with the Bank Secrecy Act and other anti-money laundering statutes and regulations, and failure to comply with these laws could lead to a wide variety of sanctions.Risk factors (Item 1A)

Also named by AUB, BAC, CASH, CPAY, CUBI, EWBC, EZPW, FISV and 10 more

SBA Preferred Lenders Program

subject tonamed as a risk

If we lose our status as a Preferred Lender, we may lose some or all of our clients to lenders who are Preferred Lenders, and as a result we could experience a material adverse effect to our financial results.Risk factors (Item 1A)

CRE concentration guidance

subject tonamed as a risk

The Bank’s lending operations may be subject to enhanced scrutiny by federal banking regulators based on its concentration of CRE loans.Business (Item 1)