000102583512/312026Q1FALSExbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureefsc:segment00010258352026-01-012026-03-310001025835us-gaap:CommonStockMember2026-01-012026-03-310001025835efsc:DepositorySharesMember2026-01-012026-03-3100010258352026-04-2900010258352026-03-3100010258352025-12-3100010258352025-01-012025-03-310001025835us-gaap:DepositAccountMember2026-01-012026-03-310001025835us-gaap:DepositAccountMember2025-01-012025-03-310001025835us-gaap:FiduciaryAndTrustMember2026-01-012026-03-310001025835us-gaap:FiduciaryAndTrustMember2025-01-012025-03-310001025835efsc:CardServicesRevenueMember2026-01-012026-03-310001025835efsc:CardServicesRevenueMember2025-01-012025-03-310001025835efsc:TaxcreditactivitynetMember2026-01-012026-03-310001025835efsc:TaxcreditactivitynetMember2025-01-012025-03-310001025835us-gaap:FinancialServiceOtherMember2026-01-012026-03-310001025835us-gaap:FinancialServiceOtherMember2025-01-012025-03-310001025835us-gaap:PreferredStockMember2025-12-310001025835us-gaap:CommonStockMember2025-12-310001025835us-gaap:AdditionalPaidInCapitalMember2025-12-310001025835us-gaap:RetainedEarningsMember2025-12-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310001025835us-gaap:RetainedEarningsMember2026-01-012026-03-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310001025835us-gaap:CommonStockMember2026-01-012026-03-310001025835us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001025835us-gaap:PreferredStockMember2026-03-310001025835us-gaap:CommonStockMember2026-03-310001025835us-gaap:AdditionalPaidInCapitalMember2026-03-310001025835us-gaap:RetainedEarningsMember2026-03-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310001025835us-gaap:PreferredStockMember2024-12-310001025835us-gaap:CommonStockMember2024-12-310001025835us-gaap:AdditionalPaidInCapitalMember2024-12-310001025835us-gaap:RetainedEarningsMember2024-12-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-3100010258352024-12-310001025835us-gaap:RetainedEarningsMember2025-01-012025-03-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310001025835us-gaap:CommonStockMember2025-01-012025-03-310001025835us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001025835us-gaap:PreferredStockMember2025-03-310001025835us-gaap:CommonStockMember2025-03-310001025835us-gaap:AdditionalPaidInCapitalMember2025-03-310001025835us-gaap:RetainedEarningsMember2025-03-310001025835us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-3100010258352025-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2026-03-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMember2026-03-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMember2026-03-310001025835us-gaap:USTreasuryBillSecuritiesMember2026-03-310001025835us-gaap:CorporateDebtSecuritiesMember2026-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2025-12-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMember2025-12-310001025835us-gaap:USTreasuryBillSecuritiesMember2025-12-310001025835us-gaap:CorporateDebtSecuritiesMember2025-12-310001025835efsc:ReclassifiedtoHeldtoMaturityMember2026-03-310001025835efsc:ReclassifiedtoHeldtoMaturityMember2025-12-310001025835efsc:DesMoinesMember2026-03-310001025835efsc:DesMoinesMember2025-12-310001025835efsc:NoncoveredLoansMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:RealEstateLoansPortfolioSegmentMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:RealEstateLoansPortfolioSegmentMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2025-12-310001025835efsc:NoncoveredLoansMember2026-03-310001025835efsc:NoncoveredLoansMember2025-12-3100010258352023-01-012023-12-310001025835us-gaap:OtherAssetsMember2026-03-310001025835us-gaap:OtherAssetsMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2026-01-012026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2024-12-310001025835efsc:NoncoveredLoansMember2024-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMember2025-01-012025-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMember2025-03-310001025835efsc:NoncoveredLoansMember2025-03-310001025835efsc:NoncoveredLoansMemberefsc:BaselineScenarioMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:NearTermGrowthUpsideMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ModerateRecessionDownsideMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2026-03-310001025835efsc:NoncoveredLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2026-03-310001025835efsc:EnterpriseValueLendingPortfolioNicheSegmentMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2026-01-012026-03-310001025835efsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-01-012026-03-310001025835us-gaap:ResidentialPortfolioSegmentMember2026-01-012026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMember2026-01-012026-03-310001025835efsc:RiskRatingMember2026-01-012026-03-310001025835us-gaap:PerformingFinancingReceivableMember2026-01-012026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2025-01-012025-12-310001025835efsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-01-012025-12-310001025835efsc:CommercialOwnerOccupiedMember2025-01-012025-12-310001025835efsc:ConstructionAndLandDevelopmentFinancingReceivableMember2025-01-012025-12-310001025835us-gaap:ResidentialPortfolioSegmentMember2025-01-012025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMember2025-01-012025-12-310001025835efsc:RiskRatingMember2025-01-012025-12-310001025835us-gaap:PerformingFinancingReceivableMember2025-01-012025-12-3100010258352025-01-012025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:CommercialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:ResidentialRealEstateMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:BlanketLienMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:OtherCollateralMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:ResidentialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:BlanketLienMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:OtherCollateralMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:BlanketLienMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:OtherCollateralMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:BlanketLienMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:OtherCollateralMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:CommercialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:ResidentialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:BlanketLienMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:OtherCollateralMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:CommercialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:ResidentialRealEstateMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:BlanketLienMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:OtherCollateralMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancialAssetPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:FinancialAsset30to89DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancialAssetPastDueMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:FinancialAssetNotPastDueMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2026-01-012026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PaymentDeferralMember2026-01-012026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:ExtendedMaturityMember2026-01-012026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:PaymentDeferralMember2026-01-012026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-01-012026-03-310001025835efsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:ExtendedMaturityMember2026-01-012026-03-310001025835efsc:ConstructionAndLandDevelopmentFinancingReceivableMemberus-gaap:PaymentDeferralMember2026-01-012026-03-310001025835us-gaap:ExtendedMaturityMember2026-01-012026-03-310001025835us-gaap:PaymentDeferralMember2026-01-012026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2025-01-012025-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:ExtendedMaturityMember2025-01-012025-03-310001025835efsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:ExtendedMaturityMember2025-01-012025-03-310001025835us-gaap:ExtendedMaturityMember2025-01-012025-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PaymentDeferralMember2026-03-310001025835efsc:ResidentialRealEstateFinancingReceivableMemberus-gaap:ExtendedMaturityMember2026-01-012026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-03-310001025835efsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-03-310001025835efsc:ConstructionAndLandDevelopmentFinancingReceivableMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2026-03-310001025835efsc:ResidentialRealEstateFinancingReceivableMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMember2026-03-310001025835efsc:FinancialAsset30to89DaysPastDueMember2026-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialAndIndustrialPortfolioSegmentMember2025-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2025-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-03-310001025835efsc:CommercialRealEstateInvestorOwnedFinancingReceivableMember2025-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-03-310001025835efsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMember2025-03-310001025835us-gaap:FinancialAssetNotPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-03-310001025835efsc:FinancialAsset30to89DaysPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberefsc:ResidentialRealEstateFinancingReceivableMember2025-03-310001025835efsc:ResidentialRealEstateFinancingReceivableMember2025-03-310001025835us-gaap:FinancialAssetNotPastDueMember2025-03-310001025835efsc:FinancialAsset30to89DaysPastDueMember2025-03-310001025835us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2026-03-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMember2026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMember2026-03-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835efsc:ConstructionRealEstatePortfolioSegmentMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:PassMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:SubstandardMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMember2026-03-310001025835efsc:LoansClassifiedByRiskCategoryMember2026-03-310001025835efsc:LoansClassifiedByPerformingStatusMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMember2025-12-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835efsc:CommercialRealEstateInvestorOwnedPortfolioSegmentMember2025-12-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835efsc:CommercialRealEstateOwnerOccupiedPortfolioSegmentMember2025-12-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:ConstructionRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835efsc:ConstructionRealEstatePortfolioSegmentMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:PassMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:SubstandardMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMember2025-12-310001025835efsc:LoansClassifiedByRiskCategoryMember2025-12-310001025835efsc:LoansClassifiedByPerformingStatusMember2025-12-310001025835us-gaap:PassMember2026-03-310001025835us-gaap:SpecialMentionMember2026-03-310001025835us-gaap:SubstandardMember2026-03-310001025835us-gaap:InternalInvestmentGradeMember2026-03-310001025835us-gaap:PassMember2025-12-310001025835us-gaap:SpecialMentionMember2025-12-310001025835us-gaap:SubstandardMember2025-12-310001025835us-gaap:InternalInvestmentGradeMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:PerformingFinancingReceivableMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:PassMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:NonperformingFinancingReceivableMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:PerformingAndNonperformingFinancialInstrumentsMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:SubstandardMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:PerformingFinancingReceivableMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:PassMember2026-03-310001025835efsc:NoncoveredLoansMemberus-gaap:NonperformingFinancingReceivableMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:SpecialMentionMember2026-03-310001025835efsc:NoncoveredLoansMemberefsc:PerformingAndNonperformingFinancialInstrumentsMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:SubstandardMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2026-03-310001025835us-gaap:ResidentialPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2026-03-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2026-03-310001025835us-gaap:PerformingFinancingReceivableMember2026-03-310001025835us-gaap:NonperformingFinancingReceivableMember2026-03-310001025835efsc:PerformingAndNonperformingFinancialInstrumentsMember2026-03-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2025-12-310001025835efsc:CommercialAndIndustrialPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:PerformingFinancingReceivableMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:PassMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:NonperformingFinancingReceivableMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:PerformingAndNonperformingFinancialInstrumentsMemberefsc:CommercialRealEstateInvestorOwnedFinancingReceivableMemberus-gaap:SubstandardMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:PerformingFinancingReceivableMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:PassMember2025-12-310001025835efsc:NoncoveredLoansMemberus-gaap:NonperformingFinancingReceivableMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:SpecialMentionMember2025-12-310001025835efsc:NoncoveredLoansMemberefsc:PerformingAndNonperformingFinancialInstrumentsMemberefsc:CommercialRealEstateOwnerOccupiedFinancingReceivableMemberus-gaap:SubstandardMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2025-12-310001025835us-gaap:ResidentialPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2025-12-310001025835efsc:ConsumerAndOtherPortfolioSegmentMemberefsc:PerformingAndNonperformingFinancialInstrumentsMember2025-12-310001025835us-gaap:PerformingFinancingReceivableMember2025-12-310001025835us-gaap:NonperformingFinancingReceivableMember2025-12-310001025835efsc:PerformingAndNonperformingFinancialInstrumentsMember2025-12-310001025835us-gaap:CommitmentsToExtendCreditMember2026-03-310001025835us-gaap:CommitmentsToExtendCreditMember2025-12-310001025835us-gaap:StandbyLettersOfCreditMember2026-03-310001025835us-gaap:StandbyLettersOfCreditMember2025-12-310001025835efsc:FixedRateLoanCommitmentMemberus-gaap:CommitmentsToExtendCreditMember2026-03-310001025835efsc:FixedRateLoanCommitmentMemberus-gaap:CommitmentsToExtendCreditMember2025-12-310001025835efsc:UnadvancedCommitmentOnImpairedLoanMember2026-03-310001025835efsc:UnadvancedCommitmentOnImpairedLoanMember2025-12-310001025835us-gaap:StandbyLettersOfCreditMembersrt:MinimumMember2026-01-012026-03-310001025835us-gaap:StandbyLettersOfCreditMembersrt:MaximumMember2026-01-012026-03-310001025835efsc:CashFlowHedge1Memberus-gaap:CashFlowHedgingMember2026-03-310001025835efsc:CashFlowHedge2Memberus-gaap:CashFlowHedgingMember2026-03-310001025835efsc:CashFlowHedge3Memberus-gaap:CashFlowHedgingMember2026-03-310001025835efsc:PrimeBasedInterestRateCollarMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001025835us-gaap:DesignatedAsHedgingInstrumentMemberefsc:PrimeBasedInterestRateCollarMembersrt:MinimumMember2024-12-310001025835us-gaap:DesignatedAsHedgingInstrumentMemberefsc:PrimeBasedInterestRateCollarMembersrt:MaximumMember2024-12-310001025835efsc:PrimeBasedInterestRateCollarMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835us-gaap:DesignatedAsHedgingInstrumentMemberefsc:PrimeBasedInterestRateCollarMembersrt:MinimumMember2026-03-310001025835us-gaap:DesignatedAsHedgingInstrumentMemberefsc:PrimeBasedInterestRateCollarMembersrt:MaximumMember2026-03-310001025835us-gaap:CashFlowHedgingMemberus-gaap:SubordinatedDebtMember2026-03-310001025835us-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2026-04-012027-03-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835efsc:InterestRateCollarMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835efsc:InterestRateCollarMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835efsc:InterestRateCollarMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835efsc:InterestRateCollarMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835us-gaap:DesignatedAsHedgingInstrumentMember2026-03-310001025835us-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310001025835us-gaap:InterestRateSwapMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310001025835us-gaap:InterestRateSwapMember2026-03-310001025835efsc:InterestRateCollarMember2026-03-310001025835us-gaap:InterestRateSwapMember2025-12-310001025835efsc:InterestRateCollarMember2025-12-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:CorporateDebtSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:USTreasuryBillSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001025835efsc:OtherRealEstateMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2026-03-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310001025835efsc:ImpairedLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2025-12-310001025835efsc:ImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835efsc:ImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835efsc:ImpairedLoansMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835efsc:OtherRealEstateMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2025-12-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835efsc:OtherRealEstateMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2025-12-310001025835us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001025835us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001025835us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001025835us-gaap:CarryingReportedAmountFairValueDisclosureMember2026-03-310001025835us-gaap:EstimateOfFairValueFairValueDisclosureMember2026-03-310001025835us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-12-310001025835us-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-12-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2025-12-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-12-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-01-012026-03-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2026-01-012026-03-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-01-012026-03-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-03-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2026-03-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-03-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2024-12-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-12-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-01-012025-03-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2025-01-012025-03-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-01-012025-03-310001025835us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-03-310001025835efsc:AOCIAccumulatedGainLossHeldToMaturitySecuritiesParentMember2025-03-310001025835us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-03-310001025835efsc:BankOwnedLifeInsuranceMember2026-01-012026-03-310001025835efsc:BankOwnedLifeInsuranceMember2025-01-012025-03-310001025835efsc:CommunityDevelopmentFeesMember2026-01-012026-03-310001025835efsc:CommunityDevelopmentFeesMember2025-01-012025-03-310001025835efsc:GainOnSaleOfSBALoansMember2026-01-012026-03-310001025835efsc:GainOnSaleOfSBALoansMember2025-01-012025-03-310001025835efsc:OtherMiscellaneousIncomeMember2026-01-012026-03-310001025835efsc:OtherMiscellaneousIncomeMember2025-01-012025-03-310001025835efsc:AmortizationExpenseMember2026-01-012026-03-310001025835efsc:AmortizationExpenseMember2025-01-012025-03-310001025835efsc:BankingExpensesMember2026-01-012026-03-310001025835efsc:BankingExpensesMember2025-01-012025-03-310001025835efsc:FDICAndOtherInsuranceMember2026-01-012026-03-310001025835efsc:FDICAndOtherInsuranceMember2025-01-012025-03-310001025835efsc:LoanLegalExpenseMember2026-01-012026-03-310001025835efsc:LoanLegalExpenseMember2025-01-012025-03-310001025835efsc:OutsideServicesMember2026-01-012026-03-310001025835efsc:OutsideServicesMember2025-01-012025-03-310001025835efsc:OtherExpensesMember2026-01-012026-03-310001025835efsc:OtherExpensesMember2025-01-012025-03-310001025835efsc:TotalOtherNoninterestExpensesMember2026-01-012026-03-310001025835efsc:TotalOtherNoninterestExpensesMember2025-01-012025-03-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 10-Q


☒						Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31, 2026.


☐						Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ______ to ______

Commission file number 001-15373

ENTERPRISE FINANCIAL SERVICES CORP

Incorporated in the State of Delaware

I.R.S. Employer Identification # 43-1706259

Address: 150 North Meramec

Clayton, MO 63105

Telephone: (314) 725-5500

___________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

EFSC

Nasdaq Global Select Market

Depositary Shares, each representing a 1/40th interest in a share of 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

EFSCP

Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes ☐ No ☒

As of April 29, 2026, the Registrant had 36,585,805 shares of outstanding common stock, $0.01 par value per share.

This document is also available through our website at http://www.enterprisebank.com.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

TABLE OF CONTENTS


						Page
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Consolidated Balance Sheets (Unaudited)						1

Condensed Consolidated Statements of Income (Unaudited)						2

Condensed Consolidated Statements of Comprehensive Income (Unaudited)						3

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)						4

Condensed Consolidated Statements of Cash Flows (Unaudited)						5

Notes to Condensed Consolidated Financial Statements (Unaudited)						7

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations						31

Item 3. Quantitative and Qualitative Disclosures About Market Risk						51

Item 4. Controls and Procedures						52

PART II - OTHER INFORMATION

Item 1. Legal Proceedings						53

Item 1A. Risk Factors						53

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds						53

Item 3. Defaults Upon Senior Securities						53

Item 4. Mine Safety Disclosures						53

Item 5. Other Information						53

Item 6. Exhibits						54

Signatures						56

Glossary of Acronyms, Abbreviations and Entities

The acronyms and abbreviations identified below are used in various sections of this Form 10-Q, including the Condensed Consolidated Financial Statements and the Notes to Condensed Consolidated Financial Statements in Item 1 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Item 2 of this Form 10-Q.

ACL

Allowance for Credit Losses

Federal Reserve

Board of Governors of the Federal Reserve System

ASU

Accounting Standards Update

FHLB

Federal Home Loan Bank

Bank

Enterprise Bank & Trust

GAAP

Generally Accepted Accounting Principles (United States)

C&I

Commercial and Industrial

GDP

Gross Domestic Product

CCB

Capital Conservation Buffer

NIM

Net Interest Margin

CECL

Current Expected Credit Loss

Not meaningful

Company, Enterprise, We, Us or Our

Enterprise Financial Services Corp and Subsidiaries

OREO

Other Real Estate Owned

CRE

Commercial Real Estate

PPNR

Pre-Provision Net Revenue

EFSC

Enterprise Financial Services Corp

SBA

Small Business Administration

FASB

Financial Accounting Standards Board

SEC

Securities and Exchange Commission

FDIC

Federal Deposit Insurance Corporation

SOFR

Secured Overnight Financing Rate

PART I - ITEM 1 - FINANCIAL STATEMENTS

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (Unaudited)


($ in thousands, except share data)	March 31, 2026		December 31, 2025
Assets
Cash and due from banks	$	258,542	$	208,080
Federal funds sold	8,026		5,793
Interest-earning deposits	367,901		468,029
Total cash and cash equivalents	634,469		681,902
Interest-earning deposits greater than 90 days	897		898
Securities available-for-sale	2,773,667		2,655,035
Securities held-to-maturity, net	1,055,495		1,074,957
Loans held-for-sale	418		928
Loans	11,692,780		11,800,338
ACL on loans	(142,064)		(140,022)
Total loans, net	11,550,716		11,660,316


Other investments	81,944		80,884
Fixed assets, net	57,956		58,993




Goodwill	416,968		416,968
Intangible assets, net	19,525		21,175

Other assets	635,773		648,828
Total assets	$	17,227,828	$	17,300,884

Liabilities and Stockholders' Equity
Noninterest-bearing demand accounts	$	4,828,375	$	4,874,115
Interest-bearing demand accounts	3,395,680		3,537,334
Money market accounts	4,058,748		3,991,110
Savings accounts	551,914		537,400
Certificates of deposit:
Brokered	724,788		721,977
Customer	964,892		947,406
Total deposits	14,524,397		14,609,342
Subordinated debentures and notes	93,759		93,688

Other borrowings	319,345		387,717



Other liabilities	268,123		170,751
Total liabilities	$	15,205,624	$	15,261,498

Commitments and contingent liabilities (Note 5)

Stockholders’ equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; 75,000 shares issued and outstanding ($1,000 per share liquidation preference)	71,988		71,988
Common stock, $0.01 par value; 75,000,000 shares authorized; 36,580,552 and 36,965,398 shares issued and outstanding	366		370

Additional paid-in capital	990,394		1,000,775
Retained earnings	1,041,038		1,020,840
Accumulated other comprehensive loss, net	(81,582)		(54,587)
Total stockholders’ equity	2,022,204		2,039,386
Total liabilities and stockholders’ equity	$	17,227,828	$	17,300,884

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)


	Three months ended March 31,
($ in thousands, except per share data)	2026		2025
Interest income:
Loans	$	185,170	$	181,912
Debt securities:
Taxable	25,667		17,217
Nontaxable	9,280		7,119

Interest-earning deposits	4,533		5,124
Dividends on equity securities	441		408
Total interest income	225,091		211,780
Interest expense:




Deposits	54,749		59,266
Subordinated debentures and notes	1,522		2,562
FHLB advances	56		287
Other borrowings	2,617		2,149
Total interest expense	58,944		64,264
Net interest income	166,147		147,516
Provision for credit losses	7,243		5,184
Net interest income after provision for credit losses	158,904		142,332
Noninterest income:
Deposit service charges	5,256		4,420
Wealth management revenue	2,712		2,659
Card services revenue	2,535		2,395


Tax credit income (loss)	(179)		2,610


Other income	8,764		6,399
Total noninterest income	19,088		18,483
Noninterest expense:
Employee compensation and benefits	55,759		48,208
Deposit costs	25,996		23,823
Occupancy	5,902		4,430
Data processing	5,644		4,809
Professional fees	1,571		1,728




Other expense	20,265		16,785
Total noninterest expense	115,137		99,783

Income before income tax expense	62,855		61,032
Income tax expense	13,493		11,071
Net income	$	49,362	$	49,961
Dividends on preferred stock	938		938
Net income available to common stockholders	$	48,424	$	49,023

Earnings per common share
Basic	$	1.31	$	1.33
Diluted	1.30		1.31

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income (Unaudited)


	Three months ended March 31,
($ in thousands)	2026		2025
Net income	$	49,362	$	49,961
Other comprehensive income (loss), net of tax:
Change in unrealized gain (loss) on available-for-sale securities	(25,081)		12,885
Reclassification of gain on the sale of available-for-sale securities	—		(80)
Reclassification of gain on held-to-maturity securities	(593)		(612)
Change in unrealized gain (loss) on cash flow hedges	(1,311)		2,993
Reclassification of (gain) loss on cash flow hedges	(10)		141
Total other comprehensive income (loss), net of tax	(26,995)		15,327
Total comprehensive income	$	22,367	$	65,288

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)


Three months ended March 31
	Preferred Stock			Common Stock
($ in thousands, except per share data)	Shares	Amount		Shares	Amount		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance at December 31, 2025	75	$	71,988	36,965	$	370	$	1,000,775	$	1,020,840	$	(54,587)	$	2,039,386
Net income	—	—		—	—		—		49,362		—		49,362
Other comprehensive loss	—	—		—	—		—		—		(26,995)		(26,995)
Common stock dividends ($0.33 per share)	—	—		—	—		—		(12,170)		—		(12,170)
Preferred stock dividends ($12.50 per share)	—	—		—	—		—		(938)		—		(938)
Repurchase of common stock	—	—		(483)	(5)		(13,190)		(14,148)		—		(27,343)
Issuance under equity compensation plans, net	—	—		99	1		(1,495)		(1,908)		—		(3,402)
Stock-based compensation	—	—		—	—		4,304		—		—		4,304
Balance at March 31, 2026	75	$	71,988	36,581	$	366	$	990,394	$	1,041,038	$	(81,582)	$	2,022,204

Balance at December 31, 2024	75	$	71,988	36,988	$	370	$	990,733	$	877,629	$	(116,718)	$	1,824,002
Net income	—	—		—	—		—		49,961		—		49,961
Other comprehensive income	—	—		—	—		—		—		15,327		15,327
Common stock dividends ($0.29 per share)	—	—		—	—		—		(10,717)		—		(10,717)
Preferred stock dividends ($12.50 per share)	—	—		—	—		—		(938)		—		(938)
Repurchase of common stock	—	—		(192)	(2)		(5,152)		(5,476)		—		(10,630)
Issuance under equity compensation plans, net	—	—		132	1		(155)		(1,906)		—		(2,060)
Stock-based compensation	—	—		—	—		3,128		—		—		3,128
Balance at March 31, 2025	75	$	71,988	36,928	$	369	$	988,554	$	908,553	$	(101,391)	$	1,868,073

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)


	Three months ended March 31,
($ in thousands)	2026		2025
Cash flows from operating activities:
Net income	$	49,362	$	49,961
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	2,061		1,327
Provision for credit losses	7,243		5,184
Deferred income taxes	2,217		(4,497)
Net amortization of discount/premiums on debt securities	630		1,027
Net amortization on loans	1,578		438
Amortization of intangible assets	1,400		855
Amortization of servicing assets	280		206
Mortgage loans originated-for-sale	(4,204)		(5,578)
Proceeds from mortgage loans sold	4,734		5,716
Net loss (gain) on:
Investment securities	—		(106)
SBA loans	(1,414)		(1,895)
OREO	295		(23)

State tax credits	(153)		(110)
Stock-based compensation	4,304		3,128
Net change in other assets and liabilities	(9,830)		(15,611)
Net cash provided by operating activities	58,503		40,022
Cash flows from investing activities:
Net (increase) decrease in loans	67,593		(110,814)
Proceeds received from:
Branch acquisition, net	250		—
Sale of debt securities, available-for-sale	—		9,631
Paydown or maturity of debt securities, available-for-sale	177,163		103,620
Paydown or maturity of debt securities, held-to-maturity	17,783		1,794
Redemption of other investments	8,849		4,895
Sale of SBA loans	27,278		33,933
Sale of state tax credits held for sale	872		615
Sale of OREO	7,875		700

Settlement of bank-owned life insurance policies	1,581		—
Payments for the purchase of:
Available-for-sale debt securities	(206,186)		(224,098)
Held-to-maturity debt securities	—		(90,817)
Other investments	(10,903)		(15,691)
Bank-owned life insurance	—		(75,000)
State tax credits held for sale	—		(110)
Fixed assets	(1,024)		(4,401)
Net cash provided by (used in) investing activities	91,131		(365,743)


	Three months ended March 31,
($ in thousands)	2026		2025
Cash flows from financing activities:
Net decrease in noninterest-bearing demand accounts	(45,740)		(199,011)
Net increase (decrease) in interest-bearing demand accounts	(39,205)		86,749
Net increase in short term FHLB advances, net	—		205,000
Repayments of term loan	(2,259)		—
Net decrease in other borrowings	(66,113)		(25,186)
Repurchase of common stock	(27,240)		(10,616)
Cash dividends paid on common stock	(12,170)		(10,717)
Cash dividends paid on preferred stock	(938)		(938)
Other	(3,402)		(2,060)
Net cash provided by (used in) financing activities	(197,067)		43,221
Net decrease in cash and cash equivalents	(47,433)		(282,500)
Cash and cash equivalents, beginning of period	681,902		764,170
Cash and cash equivalents, end of period	$	634,469	$	481,670
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$	60,465	$	63,724
Income taxes	5,727		6,644
Noncash investing and financing transactions:
Transfer to OREO in settlement of loans	7,794		—

Right-of-use assets obtained in exchange for lease obligations	1,288		—
Unsettled purchases of available-for-sale securities	122,896		—

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

ENTERPRISE FINANCIAL SERVICES CORP AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies used by the Company in the preparation of the condensed consolidated financial statements are summarized below.

Business and Consolidation

Enterprise is a financial holding company that provides a full range of banking and wealth management services to individuals and corporate clients primarily located in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit productions offices throughout the country through its banking subsidiary, Enterprise Bank & Trust.

Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2026. These financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC.

Basis of Financial Statement Presentation

The accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading. Except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All intercompany accounts and transactions have been eliminated.

In the opinion of management, the consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the statements of financial position, results of operations, and cash flow for the interim periods.

Recent Accounting Pronouncements

FASB ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 was issued in November 2024 to require public business entities to provide disaggregated disclosures, in the notes to the financial statements, of certain categories of expenses that are included in expense line items on the face of the income statement. The amendments in this update improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update are effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments may be adopted prospectively or retrospectively. The Company is evaluating the accounting and disclosure requirements of ASU 2024-03 and does not expect them to have a material effect on the Company’s consolidated financial statements.

FASB ASU 2025-09, Hedge Accounting Improvements. ASU 2025-09 was issued in November 2025 and is intended to better enable entities to achieve and maintain hedge accounting for highly effective economic hedges, while reducing the occurrence of missed forecasted transactions and unintuitive hedge designation events. ASU 2025-09 updated the following five areas in the hedge accounting model: 1) Similar risk assessment for cash flow hedges, 2) Hedging interest payments on choose-your-rate debt, 3) Cash flow hedges of nonfinancial forecasted transactions, 4) Net written options as hedging instruments, 5) Foreign currency-denominated debt designated as a hedging instrument and a hedged item. The amendments in this update are effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. The amendments should be applied on a prospective basis. The Company is evaluating the accounting and disclosure requirements of ASU 2025-09 and does not expect them to have a material effect on the Company’s consolidated financial statements.

NOTE 2 - EARNINGS PER SHARE

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method.

The following table presents a summary of per common share data and amounts for the periods indicated:


	Three months ended March 31,
(in thousands, except per share data)	2026		2025
Net income available to common stockholders	$	48,424	$	49,023

Weighted average common shares outstanding	36,907		36,971
Additional dilutive common stock equivalents	245		316
Weighted average common diluted shares outstanding	37,152		37,287

Basic earnings per common share:	$	1.31	$	1.33
Diluted earnings per common share:	1.30		1.31

For the three months ended March 31, 2026 and 2025, common stock equivalents of approximately 141,000 and 259,000, respectively, were excluded from the earnings per share calculations because their effect would have been anti-dilutive.

NOTE 3 - INVESTMENTS

The following tables present the amortized cost, gross unrealized gains and losses, ACL and fair value of securities available-for-sale and held-to-maturity as of the periods indicated:


	March 31, 2026
($ in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities:
Obligations of U.S. Government-sponsored enterprises	$	163,598	$	7	$	(5,259)	$	158,346
Obligations of states and political subdivisions	644,842		1,929		(70,847)		575,924
Agency mortgage-backed securities	1,910,623		4,189		(46,222)		1,868,590
U.S. Treasury bills	151,901		4		(665)		151,240
Corporate debt securities	19,448		213		(94)		19,567
Total securities available-for-sale	$	2,890,412	$	6,342	$	(123,087)	$	2,773,667
Held-to-maturity securities:

Obligations of states and political subdivisions	$	907,676	$	5,055	$	(50,373)	$	862,358
Agency mortgage-backed securities	37,244		—		(3,262)		33,982
Corporate debt securities	110,777		338		(3,934)		107,181
Total securities held-to-maturity	$	1,055,697	$	5,393	$	(57,569)	$	1,003,521
ACL	(202)
Total securities held-to-maturity, net	$	1,055,495


	December 31, 2025
($ in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities:
Obligations of U.S. Government-sponsored enterprises	$	187,587	$	76	$	(5,091)	$	182,572
Obligations of states and political subdivisions	626,900		3,914		(58,109)		572,705
Agency mortgage-backed securities	1,733,003		12,638		(36,330)		1,709,311
U.S. Treasury Bills	171,355		128		(499)		170,984
Corporate debt securities	19,448		109		(94)		19,463
Total securities available-for-sale	$	2,738,293	$	16,865	$	(100,123)	$	2,655,035
Held-to-maturity securities:

Obligations of states and political subdivisions	$	920,199	$	10,861	$	(39,849)	$	891,211
Agency mortgage-backed securities	43,839		—		(3,199)		40,640
Corporate debt securities	111,064		325		(3,426)		107,963
Total securities held-to-maturity	$	1,075,102	$	11,186	$	(46,474)	$	1,039,814
ACL	(145)
Total securities held-to-maturity, net	$	1,074,957

The balance of held-to-maturity securities in the “Amortized Cost” column in the tables above include a cumulative net unamortized, unrealized gain of $6.8 million and $7.6 million at March 31, 2026 and December 31, 2025, respectively. Such amounts are amortized over the remaining life of the securities.

At March 31, 2026 and December 31, 2025, there were no holdings of securities of any one issuer in an amount greater than 10% of stockholders’ equity, other than U.S. Government agencies and sponsored enterprises. The agency mortgage-backed securities are all issued by U.S. Government agencies and sponsored enterprises. Securities of $1.6 billion and $1.7 billion at March 31, 2026 and December 31, 2025, respectively, were pledged as collateral to secure deposits of public institutions and for other purposes as required by law or contract provisions, in addition to collateral securing borrowing bases with the FHLB and the Federal Reserve.

The amortized cost and estimated fair value of debt securities at March 31, 2026, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The weighted average life of the mortgage-backed securities is approximately five years.


	Available-for-sale				Held-to-maturity
($ in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	211,537	$	210,482	$	9,006	$	8,951
Due after one year through five years	58,670		57,058		128,789		125,519
Due after five years through ten years	407,788		361,420		258,215		253,174
Due after ten years	301,793		276,117		622,442		581,895
Agency mortgage-backed securities	1,910,624		1,868,590		37,245		33,982

	$	2,890,412	$	2,773,667	$	1,055,697	$	1,003,521

The following tables present a summary of available-for-sale investment securities in an unrealized loss position as of the periods indicated:


	March 31, 2026
	Less than 12 months				12 months or more				Total
($ in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government-sponsored enterprises	$	44,031	$	501	$	110,557	$	4,758	$	154,588	$	5,259
Obligations of states and political subdivisions	63,987		1,146		413,355		69,701		477,342		70,847
Agency mortgage-backed securities	764,440		9,086		362,330		37,136		1,126,770		46,222
U.S. Treasury bills	87,754		90		35,354		575		123,108		665
Corporate debt securities	—		—		3,406		94		3,406		94
	$	960,212	$	10,823	$	925,002	$	112,264	$	1,885,214	$	123,087


	December 31, 2025
	Less than 12 months				12 months or more				Total
($ in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government-sponsored enterprises	$	13,971	$	22	$	149,230	$	5,069	$	163,201	$	5,091
Obligations of states and political subdivisions	32,658		245		425,879		57,864		458,537		58,109
Agency mortgage-backed securities	266,639		1,215		377,787		35,115		644,426		36,330
U.S. Treasury bills	4,996		—		40,418		499		45,414		499
Corporate debt securities	—		—		3,406		94		3,406		94
	$	318,264	$	1,482	$	996,720	$	98,641	$	1,314,984	$	100,123

The unrealized losses at both March 31, 2026 and December 31, 2025 were attributable primarily to changes in market interest rates after the securities were purchased. At each of March 31, 2026 and December 31, 2025, the Company did not have an ACL on available-for-sale securities.

Accrued interest on held-to-maturity debt securities totaled $11.7 million and $12.3 million at March 31, 2026 and December 31, 2025, respectively, and is excluded from the estimate of expected credit losses. The estimate of expected credit losses considers historical credit loss information adjusted for current conditions and reasonable and supportable forecasts. The ACL on held-to-maturity securities was $0.2 million at March 31, 2026 and $0.1 million at December 31, 2025.

There were no sales of available-for-sale securities during the three months ended March 31, 2026. The Company sold $9.5 million of available-for-sale securities during the three months ended March 31, 2025 for a gain of $0.1 million.

Other Investments

At March 31, 2026 and December 31, 2025, other investments totaled $81.9 million and $80.9 million, respectively. As a member of the FHLB, the Bank is required to maintain a minimum investment in capital stock with the FHLB consisting of membership stock and activity-based stock. The FHLB capital stock of $10.0 million at March 31, 2026 and $9.4 million at December 31, 2025 is recorded at cost, which represents redemption value, and is included in “Other investments” in the Consolidated Balance Sheets. The remaining amounts in other investments primarily include investments in Small Business Investment Companies, Community Development Financial Institutions, private equity investments, and the Company’s investment in unconsolidated trusts used to issue trust preferred securities to third parties.

NOTE 4 - LOANS

The following table presents a summary of loans by category:


($ in thousands)	March 31, 2026		December 31, 2025
C&I	$	5,172,817	$	5,236,473
Real estate loans:
Commercial - investor owned	2,960,830		2,986,906
Commercial - owner occupied	2,487,565		2,460,761
Construction and land development	669,921		689,357
Residential	345,568		367,127
Total real estate loans	6,463,884		6,504,151
Consumer	57,050		60,469
Loans, before unearned loan fees	11,693,751		11,801,093
Unearned loan fees, net	(971)		(755)
Loans, including unearned loan fees	$	11,692,780	$	11,800,338

The loan balance includes a net premium on acquired loans of $0.8 million and $0.2 million at March 31, 2026 and December 31, 2025, respectively. At March 31, 2026 and December 31, 2025, loans and securities of $6.1 billion and $6.3 billion, respectively, were pledged to the FHLB and the Federal Reserve.

Accrued interest totaled $60.7 million and $58.3 million at March 31, 2026 and December 31, 2025, respectively, and was reported in “Other assets” on the Consolidated Balance Sheets.

The Company sold the guaranteed portion of SBA 7(a) loans of $25.4 million, resulting in a gain on sale of $1.4 million during the three months ended March 31, 2026. During the three months ended March 31, 2025, the Company sold the guaranteed portion of SBA 7(a) loans of $31.3 million, resulting in a gain on sale of $1.9 million.

The Company had $0.2 million of consumer mortgage loans secured by residential real estate in process of foreclosure at March 31, 2026 and December 31, 2025, respectively.

The following table presents a summary of the activity, by loan category, in the ACL on loans for the three months ended March 31, 2026 and 2025 as follows:


($ in thousands)	C&I		CRE - investor owned		CRE - owner occupied		Construction and land development		Residential real estate		Consumer		Total
ACL on loans:
Balance at December 31, 2025	$	68,345	$	31,565	$	19,218	$	11,016	$	8,023	$	1,855	$	140,022
Provision (benefit) for credit losses	8,273		(412)		(1,179)		614		(595)		(252)		6,449

Charge-offs	(3,667)		—		—		(1,039)		(355)		(156)		(5,217)
Recoveries	159		34		30		11		350		226		810
Balance at March 31, 2026	$	73,110	$	31,187	$	18,069	$	10,602	$	7,423	$	1,673	$	142,064


($ in thousands)	C&I		CRE - investor owned		CRE - owner occupied		Construction and land development		Residential real estate		Consumer		Total
ACL on loans:







Balance at December 31, 2024	$	63,231	$	34,217	$	20,400	$	9,837	$	6,534	$	3,731	$	137,950
Provision (benefit) for credit losses	5,748		(3,751)		(1,966)		2,264		1,056		584		3,935
Charge-offs	(591)		—		(362)		—		(225)		(107)		(1,285)
Recoveries	1,499		85		288		13		379		80		2,344
Balance at March 31, 2025	$	69,887	$	30,551	$	18,360	$	12,114	$	7,744	$	4,288	$	142,944

The CECL methodology incorporates various economic scenarios. The Company utilizes three forecasts in the model: Moody’s baseline, a stronger near-term growth upside and a moderate downside forecast. The Company weights these scenarios at 40%, 30%, and 30%, respectively, which added approximately $8.8 million to the ACL on loans over the baseline model at March 31, 2026. The forecasts incorporate an expectation that the federal funds rate will continue to fall in 2026, and the broader macroeconomic risks to the loan portfolio from the conflict in Iran. The Company has also recognized various risks posed by loans in certain segments, including the commercial office sector, by allocating additional reserves to those segments. Some of the key risks to the forecasts that could result in future provision for credit losses are market reactions to the Federal Reserve policy actions that could push the economy into a recession, persistently higher inflation (including the impact of tariffs), tightening in the credit markets, and weakness in the financial system.

In addition to the CECL methodology, the Company incorporates qualitative adjustments into the ACL on loans to capture credit risks inherent within the loan portfolio that are not captured in the discounted cash flow method model. Included in these risks are 1) changes in lending policies and procedures, 2) actual and expected changes in business and economic conditions, 3) changes in the nature and volume of the portfolio, 4) changes in lending management, 5) changes in volume and the severity of past due loans, 6) changes in the quality of the loan review system, 7) changes in the value of underlying collateral, 8) the existence and effect of concentrations of credit and 9) other factors such as the regulatory, legal and competitive environments and events such as natural disasters, pandemics and geopolitical matters. At March 31, 2026, the ACL on loans included a qualitative adjustment of approximately $39.9 million. Of this amount, approximately $21.4 million was allocated to sponsor finance loans due to their mostly unsecured nature.

The following tables present a summary of gross charge-offs by loan class and year of origination as of the periods indicated:


	Three months ended March 31, 2026
	Term Loans by Origination Year
($ in thousands)	2026		2025		2024		2023		2022		Prior		Revolving Loans Converted to Term Loans		Revolving Loans		Total
C&I	$	—	$	—	$	608	$	1,698	$	—	$	47	$	—	$	1,010	$	3,363
Real estate:


Construction and land development	—		—		—		—		—		1,039		—		—		1,039
Residential	—		355		—		—		—		—		—		—		355
Consumer	—		—		—		—		—		5		—		—		5
Total charge-offs by origination year	$	—	$	355	$	608	$	1,698	$	—	$	1,091	$	—	$	1,010	$	4,762
Total gross charge-offs by performing status																	455
Total gross charge-offs																	$	5,217


	Three months ended December 31, 2025
	Term Loans by Origination Year
($ in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Converted to Term Loans		Revolving Loans		Total
C&I	$	30	$	2,159	$	4,661	$	1,280	$	35	$	1,167	$	1,651	$	11,870	$	22,853
Real estate:
Commercial - investor owned	—		—		—		—		3,972		—		—		—		3,972
Commercial - owner occupied	—		594		285		—		284		898		—		—		2,061
Construction and land development	—		—		—		146		—		3,135		—		—		3,281
Residential	—		—		—		—		—		646		266		—		912
Consumer	—		—		—		—		177		68		5		—		250
Total charge-offs by origination year	$	30	$	2,753	$	4,946	$	1,426	$	4,468	$	5,914	$	1,922	$	11,870	$	33,329
Total gross charge-offs by performing status																	1,187
Total gross charge-offs																	$	34,516

The following tables present the recorded balance in nonperforming loans by category, excluding government guaranteed balances as of the dates indicated:


	March 31, 2026
($ in thousands)	Nonaccrual		Loans over 90 days past due and still accruing interest		Total nonperforming loans		Nonaccrual loans with no allowance
C&I	$	13,900	$	4,357	$	18,257	$	667
Real estate:
Commercial - investor owned	34,194		—		34,194		24,958
Commercial - owner occupied	7,983		—		7,983		4,970
Construction and land development	1,505		—		1,505		980
Residential	2,976		—		2,976		2,735
Consumer	—		26		26		—
Total	$	60,558	$	4,383	$	64,941	$	34,310


	December 31, 2025
($ in thousands)	Nonaccrual		Loans over 90 days past due and still accruing interest		Total nonperforming loans		Nonaccrual loans with no allowance
C&I	$	26,359	$	1,620	$	27,979	$	14,800
Real estate:
Commercial - investor owned	36,988		—		36,988		23,685
Commercial - owner occupied	9,338		—		9,338		7,927
Construction and land development	155		—		155		—
Residential	8,340		—		8,340		8,099
Consumer	—		9		9		—
Total	$	81,180	$	1,629	$	82,809	$	54,511

The nonperforming loan balances at March 31, 2026 and December 31, 2025 exclude government guaranteed balances of $28.2 million and $28.9 million respectively. Interest income recognized on nonaccrual loans was immaterial during the three months ended March 31, 2026 and 2025.

The following tables present a summary of collateral-dependent nonperforming loans by class of loan as of the dates indicated:


	March 31, 2026
	Type of Collateral
($ in thousands)	CRE		Residential Real Estate		Blanket Lien		Other
C&I	$	—	$	13	$	5,605	$	3,441
Real estate:
Commercial - investor owned	32,691		—		—		—
Commercial - owner occupied	5,065		—		—		—
Construction and land development	—		980		—		—
Residential	—		2,275		—		460

Total	$	37,756	$	3,268	$	5,605	$	3,901


	December 31, 2025
	Type of Collateral
($ in thousands)	CRE		Residential Real Estate		Blanket Lien		Other
C&I	$	—	$	19	$	3,391	$	15,644
Real estate:
Commercial - investor owned	35,701		—		—		—
Commercial - owner occupied	4,610		456		—		—

Residential	—		8,099		—		—

Total	$	40,311	$	8,574	$	3,391	$	15,644

The following tables present a summary of aging of the recorded balance in past due loans by class and category as of the dates indicated:


	March 31, 2026
($ in thousands)	30-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total
C&I	$	8,405	$	19,560	$	27,965	$	5,144,852	$	5,172,817
Real estate:
Commercial - investor owned	37,449		34,985		72,434		2,888,396		2,960,830
Commercial - owner occupied	25,775		14,625		40,400		2,447,165		2,487,565
Construction and land development	1,415		1,968		3,383		666,538		669,921
Residential	951		2,976		3,927		341,641		345,568
Consumer	154		26		180		56,870		57,050
Loans, before unearned loan fees	$	74,149	$	74,140	$	148,289	$	11,545,462	$	11,693,751
Unearned loan fees, net									(971)
Total									$	11,692,780


	December 31, 2025
($ in thousands)	30-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total
C&I	$	6,822	$	25,327	$	32,149	$	5,204,324	$	5,236,473
Real estate:
Commercial - investor owned	3,627		38,063		41,690		2,945,216		2,986,906
Commercial - owner occupied	5,274		21,110		26,384		2,434,377		2,460,761
Construction and land development	4,881		583		5,464		683,893		689,357
Residential	7,457		2,516		9,973		357,154		367,127
Consumer	57		9		66		60,403		60,469
Loans, before unearned loan fees	$	28,118	$	87,608	$	115,726	$	11,685,367	$	11,801,093
Unearned loan fees, net									(755)
Total									$	11,800,338

The ACL on loans incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon origination or acquisition. The starting point for the estimate of the ACL on loans is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a probability of default and loss given default model to determine the ACL on loans.

An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. The effect of most modifications made to borrowers experiencing financial difficulty is already included in the ACL on loans because of the measurement methodologies used to estimate the allowance.

The most common concession the Company provides to borrowers experiencing financial difficulty is a term extension. In limited circumstances, the Company may modify loans by providing principal forgiveness or an interest rate reduction. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the ACL on loans. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the ACL on loans.

In some cases, the Company will modify a loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as an interest rate reduction or principal forgiveness, may be granted.

The following tables show the recorded balance at the end of the dates listed for loans modified to borrowers experiencing financial difficulty, disaggregated by loan class and type of concession granted:


	Three months ended
	Term Extension				Payment Delay				Total
($ in thousands)	March 31, 2026		Percent of Total Loan Class		March 31, 2026		Percent of Total Loan Class		March 31, 2026		Percent of Total Loan Class
C&I	$	6,677	0.13	%	$	5,851	0.11	%	$	12,528	0.24	%
Real estate:

Commercial - owner occupied	4,766		0.19	%	—		—	%	4,766		0.19	%
Construction and land development	2,980		0.45	%	—		—	%	2,980		0.45	%


Total	$	14,423			$	5,851			$	20,274


	Three months ended
	Term Extension
($ in thousands)	March 31, 2025		Percent of Total Loan Class
C&I	$	3,154	0.07	%
Real estate:
Commercial - owner occupied	4,905		0.21	%
Residential	25		0.01	%
Total	$	8,084

The following tables summarize the financial impacts of loan modifications made to borrowers experiencing financial difficulty by class and modification type outstanding at the date indicated:


						Three months ended March 31, 2026
($ in thousands)						Financial Effect
Payment Delay
C&I						Payments were delayed for a weighted average amount of $500.

Term Extension
C&I						Maturity dates were extended for a weighted average of 6 months.
Real estate:
Commercial - owner occupied						Maturity dates were extended for a weighted average of 3 months.
Construction and land development						Maturity dates were extended for a weighted average of 5 months.


						Three months ended March 31, 2025
						Financial Effect
Term Extension
C&I						Maturity dates were extended for a weighted average of 6 months.
Real estate:
Commercial - owner occupied						Maturity dates were extended for a weighted average of 18 months.
Residential						Maturity dates were extended for a weighted average of 3 months.

The following tables present the aging of the recorded balance of modified loans in the last 12 months by class at the date indicated:


	March 31, 2026
($ in thousands)	Current		30-89 Days Past Due		90 or More Days Past Due		Total
C&I	$	47,555	$	—	$	—	$	47,555
Real estate:
Commercial - investor owned	240		—		—		240
Commercial - owner occupied	15,224		—		—		15,224
Construction and land development	2,980		—		—		2,980
Residential	—		—		460		460

Total	$	65,999	$	—	$	460	$	66,459


	March 31, 2025
($ in thousands)	Current		30-89 Days Past Due		90 or More Days Past Due		Total
C&I	$	32,126	$	—	$	1,609	$	33,735
Real estate:
Commercial - investor owned	252		—		—		252
Commercial - owner occupied	16,817		—		906		17,723

Residential	24		—		—		24

Total	$	49,219	$	—	$	2,515	$	51,734

There were no loans that experienced a default during the three months ended March 31, 2026 or March 31, 2025, respectively, subsequent to being granted a modification in the preceding twelve months. Default is defined as movement to nonperforming status, foreclosure or charge-off.

As of March 31, 2026 and December 31, 2025, the Company allocated an immaterial amount in specific reserves to loans that have been restructured.

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, payment experience, credit documentation, and current economic factors among other factors. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings:

•Grades 1, 2, and 3 – Includes loans to borrowers with a continuous record of strong earnings, sound balance sheet condition and capitalization, ample liquidity with solid cash flow, and whose management team has experience and depth within their industry.

•Grade 4 – Includes loans to borrowers with positive trends in profitability, satisfactory capitalization and balance sheet condition, and sufficient liquidity and cash flow.

•Grade 5 – Includes loans to borrowers that may display fluctuating trends in sales, profitability, capitalization, liquidity, and cash flow.

•Grade 6 – Includes loans to borrowers where an adverse change or perceived weakness has occurred, but may be correctable in the near future. Alternatively, this rating category may also include circumstances where the borrower is starting to reverse a negative trend or condition, or has recently been upgraded from a 7, 8, or 9 rating.

•Grade 7 – Special Mention credits are borrowers that have experienced financial setback of a nature that is not determined to be severe or influence ‘ongoing concern’ expectations. Although possible, no loss is anticipated, due to strong collateral and/or guarantor support.

•Grade 8 – Substandard credits include those borrowers characterized by significant losses and sustained downward trends in balance sheet condition, liquidity, and cash flow. Repayment reliance may have shifted to secondary sources. Collateral exposure may exist and additional reserves may be warranted.

•Grade 9 – Doubtful credits include borrowers that may show deteriorating trends that are unlikely to be corrected. Collateral values may appear insufficient for full recovery, therefore requiring a partial charge-off, or debt renegotiation with the borrower. The borrower may have declared bankruptcy or bankruptcy is likely in the near term. All doubtful rated credits will be on non-accrual.

The recorded investment by risk category of the loans by class and year of origination is presented in the following tables as of the dates indicated:


	March 31, 2026
	Term Loans by Origination Year
($ in thousands)	2026		2025		2024		2023		2022		Prior		Revolving Loans Converted to Term Loans		Revolving Loans		Total
C&I
Pass (1-6)	$	368,169	$	1,638,432	$	640,324	$	488,237	$	266,024	$	154,393	$	89,429	$	1,136,018	$	4,781,026
Special Mention (7)	31,611		61,481		12,028		7,216		3,417		4,508		5,875		73,327		199,463
Classified (8-9)	6,783		45,363		12,185		4,228		10,728		2,630		22,549		47,008		151,474
Total C&I	$	406,563	$	1,745,276	$	664,537	$	499,681	$	280,169	$	161,531	$	117,853	$	1,256,353	$	5,131,963

CRE-investor owned
Pass (1-6)	$	170,747	$	793,049	$	401,821	$	341,585	$	356,951	$	601,441	$	17,587	$	49,950	$	2,733,131
Special Mention (7)	10,642		14,099		50,313		5,165		—		18,523		32,531		177		131,450
Classified (8-9)	649		18,222		929		360		6,922		50,947		—		—		78,029
Total CRE-investor owned	$	182,038	$	825,370	$	453,063	$	347,110	$	363,873	$	670,911	$	50,118	$	50,127	$	2,942,610

CRE-owner occupied
Pass (1-6)	$	149,728	$	442,132	$	293,677	$	289,322	$	350,642	$	754,741	$	1,681	$	34,011	$	2,315,934
Special Mention (7)	4,309		7,545		3,904		17,123		5,845		18,351		—		—		57,077
Classified (8-9)	617		18,326		7,979		11,780		19,970		37,521		228		—		96,421
Total CRE-owner occupied	$	154,654	$	468,003	$	305,560	$	318,225	$	376,457	$	810,613	$	1,909	$	34,011	$	2,469,432

Construction real estate
Pass (1-6)	$	87,932	$	296,858	$	183,343	$	26,509	$	6,834	$	3,654	$	44,629	$	4,493	$	654,252
Special Mention (7)	—		6,997		—		1,136		39		—		—		—		8,172
Classified (8-9)	—		2,980		1,412		482		405		—		—		—		5,279
Total Construction real estate	$	87,932	$	306,835	$	184,755	$	28,127	$	7,278	$	3,654	$	44,629	$	4,493	$	667,703

Residential real estate
Pass (1-6)	$	12,498	$	45,879	$	21,789	$	28,307	$	27,145	$	104,629	$	1,628	$	84,976	$	326,851
Special Mention (7)	—		1,099		1,213		22		82		773		338		640		4,167
Classified (8-9)	—		3,479		—		2,694		—		8,268		—		140		14,581
Total residential real estate	$	12,498	$	50,457	$	23,002	$	31,023	$	27,227	$	113,670	$	1,966	$	85,756	$	345,599

Consumer
Pass (1-6)	$	175	$	1,329	$	689	$	742	$	187	$	40,930	$	111	$	8,869	$	53,032
Special Mention (7)	—		—		—		—		—		—		—		—		—
Classified (8-9)	—		13		—		1		—		5		—		3		22
Total Consumer	$	175	$	1,342	$	689	$	743	$	187	$	40,935	$	111	$	8,872	$	53,054

Total loans classified by risk category	$	843,860	$	3,397,283	$	1,631,606	$	1,224,909	$	1,055,191	$	1,801,314	$	216,586	$	1,439,612	$	11,610,361
Total loans classified by performing status																	82,419
Total loans																	$	11,692,780


	December 31, 2025
	Term Loans by Origination Year
($ in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Converted to Term Loans		Revolving Loans		Total
C&I
Pass (1-6)	$	1,867,472	$	793,869	$	521,429	$	298,735	$	84,618	$	96,374	$	94,043	$	1,153,331	$	4,909,871
Special Mention (7)	17,000		22,548		26,475		3,835		4,871		2,113		22,071		48,303		147,216
Classified (8-9)	47,637		26,370		4,861		10,964		54		845		24,043		36,659		151,433
Total C&I	$	1,932,109	$	842,787	$	552,765	$	313,534	$	89,543	$	99,332	$	140,157	$	1,238,293	$	5,208,520

CRE-investor owned
Pass (1-6)	$	857,292	$	405,208	$	380,247	$	377,479	$	287,917	$	376,426	$	55,616	$	45,784	$	2,785,969
Special Mention (7)	40,134		53,306		1,934		—		9,029		4,571		1,891		—		110,865
Classified (8-9)	17,570		—		—		6,965		26,697		20,469		—		—		71,701
Total CRE-investor owned	$	914,996	$	458,514	$	382,181	$	384,444	$	323,643	$	401,466	$	57,507	$	45,784	$	2,968,535

CRE-owner occupied
Pass (1-6)	$	471,422	$	304,147	$	296,817	$	371,117	$	364,894	$	445,806	$	3,391	$	38,545	$	2,296,139
Special Mention (7)	7,814		5,801		14,730		12,440		4,432		15,019		—		—		60,236
Classified (8-9)	18,006		5,562		11,444		15,503		13,671		22,281		—		—		86,467
Total CRE-owner occupied	$	497,242	$	315,510	$	322,991	$	399,060	$	382,997	$	483,106	$	3,391	$	38,545	$	2,442,842

Construction real estate
Pass (1-6)	$	372,006	$	223,449	$	37,889	$	9,492	$	3,398	$	1,316	$	24,961	$	3,148	$	675,659
Special Mention (7)	2,000		—		23		41		—		—		8,698		—		10,762
Classified (8-9)	—		—		483		676		—		4		—		—		1,163
Total Construction real estate	$	374,006	$	223,449	$	38,395	$	10,209	$	3,398	$	1,320	$	33,659	$	3,148	$	687,584

Residential real estate
Pass (1-6)	$	61,245	$	24,136	$	27,378	$	28,920	$	33,857	$	76,749	$	7,342	$	82,753	$	342,380
Special Mention (7)	3,157		1,219		23		296		84		793		—		976		6,548
Classified (8-9)	1,831		—		2,733		—		6,466		7,055		—		80		18,165
Total residential real estate	$	66,233	$	25,355	$	30,134	$	29,216	$	40,407	$	84,597	$	7,342	$	83,809	$	367,093

Consumer
Pass (1-6)	$	1,466	$	798	$	790	$	199	$	26,824	$	17,513	$	—	$	8,511	$	56,101
Special Mention (7)	—		—		—		—		—		—		—		—		—
Classified (8-9)	—		—		2		—		—		10		—		—		12
Total Consumer	$	1,466	$	798	$	792	$	199	$	26,824	$	17,523	$	—	$	8,511	$	56,113

Total loans classified by risk category	$	3,786,052	$	1,866,413	$	1,327,258	$	1,136,662	$	866,812	$	1,087,344	$	242,056	$	1,418,090	$	11,730,687
Total loans classified by performing status																	69,651
Total loans																	$	11,800,338

In the tables above, loan originations in 2026 and 2025 with a classification of “special mention” or “classified” primarily represent renewals or modifications initially underwritten and originated in prior years.

The following tables summarize the risk category of the loans by loan type as of the dates indicated:


	March 31, 2026
($ in thousands)	Pass (1-6)		Special Mention (7)		Classified (8-9)		Total
C&I	$	4,781,026	$	199,463	$	151,474	$	5,131,963
Real estate:
Commercial - investor owned	2,733,131		131,450		78,029		2,942,610
Commercial - owner occupied	2,315,934		57,077		96,421		2,469,432
Construction and land development	654,252		8,172		5,279		667,703
Residential	326,851		4,167		14,581		345,599
Consumer	53,032		—		22		53,054
Total loans classified by risk category	$	10,864,226	$	400,329	$	345,806	$	11,610,361
Total loans classified by performing status							82,419
							$	11,692,780


	December 31, 2025
($ in thousands)	Pass (1-6)		Special Mention (7)		Classified (8-9)		Total
C&I	$	4,909,871	$	147,216	$	151,433	$	5,208,520
Real estate:
Commercial - investor owned	2,785,969		110,865		71,701		2,968,535
Commercial - owner occupied	2,296,139		60,236		86,467		2,442,842
Construction and land development	675,659		10,762		1,163		687,584
Residential	342,380		6,548		18,165		367,093

ENTERPRISE FINANCIAL SERVICES CORP 10-Q