Enterprise Financial Services appoints Lars Anderson to board

ST. LOUIS - Enterprise Financial Services Corp (NASDAQ:EFSC) announced Thursday the appointment of Lars C. Anderson as director of the company and its wholly owned subsidiary, Enterprise Bank & Trust, effective immediately.

The appointment increases the company’s board size from 11 to 12 members, in accordance with its amended and restated bylaws.

Anderson previously served as Executive Vice President and Vice Chairman of Commercial Banking at Fifth Third Bancorp (NASDAQ:FITB) from February 2020 to May 2023. Prior to that, he was Executive Vice President and Chief Operating Officer at Fifth Third from August 2015 to February 2020.

His earlier career includes roles as Vice Chairman and Head of Business Bank at Comerica Bank (NYSE:CMA) from December 2010 to July 2015, and various leadership positions at BB&T Corporation (now Truist (NYSE:TFC)) between 1984 and 2010.

Michael A. DeCola, Chairman of the Board, said Anderson’s "deep level of understanding of the financial services industry combined with his financial risk and leadership experience" would enhance the board’s strategic planning capabilities.

Anderson holds degrees from Suffolk University in Boston and completed advanced management programs at the University of North Carolina Keenan-Flagler School of Business and the University of Chicago Booth School of Business.

Enterprise Financial Services Corp, headquartered in Clayton, Missouri, has approximately $16.1 billion in assets. Its subsidiary, Enterprise Bank & Trust, operates branch offices across seven states and offers business and personal banking services, according to the company’s press release statement.

In other recent news, Truist Financial Corporation reported a robust second quarter for 2025, with earnings per share of $1.19, significantly surpassing the forecast of $0.92. The company’s revenue also slightly exceeded expectations, reaching $5.04 billion compared to the projected $5.02 billion. Despite these strong earnings results, Raymond James lowered its price target for Truist Financial to $48 from $50, although it maintained an Outperform rating on the stock. Additionally, Truist Financial announced a regular quarterly cash dividend of $0.52 per common share, payable on September 2, 2025, to shareholders of record as of August 8, 2025. The company also declared regular cash dividends on several series of its preferred stock, with payment dates set for September. In another development, Truist Financial updated its bylaws to revise board procedures and director age limits, enhancing disclosure requirements for shareholders intending to nominate directors or propose business at shareholder meetings. These updates reflect the company’s ongoing efforts to refine its governance practices.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.