Enterprise Financial (EFSC) in St. Louis, Mo., has fully exited the Troubled Asset Relief Program.
The $3.2 billion-asset company said Thursday that it had repurchased the warrants it issued to the Treasury Department as part of Tarp. Enterprise said in a press release that it paid $1 million for the warrants for more than 324,000 shares of its common stock. The company's common stock closed at $13.45 a share on Wednesday.
In November, Enterprise repurchased
Enterprise received Tarp funds in December 2008 and had
"We're in a pretty strong liquidity position and we decided to go ahead and redeem the stock," Mueller said. "As part of those negotiations with the Treasury, we reached an agreement to repurchase the warrants at the end of last year, and we scheduled the closing for early this year."
Enterprise is considered well capitalized according to Federal Deposit Insurance Corp. The company