Enterprise Bank & Trust Acquires Deposits and Loans of Valley Capital Bank in Phoenix

(PressMethod) - Enterprise Bank & Trust, a subsidiary of Enterprise Financial Services Corp (Nasdaq:EFSC - News), announced that it has entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC) to assume all of the deposits and certain assets of Valley Capital Bank in the Phoenix suburb of Mesa, Arizona.


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At September 30, 2009, Valley Capital Bank reported assets of approximately $40.3 million, loans of approximately $23.7 million, other real estate owned of approximately $5.2 million and deposits of approximately $41.3 million. As part of the purchase and assumption transaction, Enterprise and the FDIC have entered into a loss sharing agreement on the assets acquired.



Valley Capital Bank's location at 1910 S. Stapley Drive in Mesa will open on Monday, December 14, 2009 as a branch of Enterprise Bank & Trust. Valley Capital Bank depositors will automatically become depositors of Enterprise Bank & Trust and deposits will continue to be insured by the FDIC.

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