ST. LOUIS, Nov. 01, 2016 (GLOBE NEWSWIRE) -- Enterprise Financial Services Corp (NASDAQ:EFSC) (the "Company"), the holding company for Enterprise Bank & Trust (the "Bank"), today announced that it has closed its previously announced underwritten public offering of $50 million of its fixed-to-floating rate subordinated notes (the "Notes") due November 1, 2026. The Notes will initially bear a fixed interest rate of 4.75% per year. The Company received gross proceeds of $50 million, and estimates net proceeds from the offering to be approximately $48.9 million after deducting the underwriting commission and discount, legal fees and other estimated offering expenses. The Company plans to use the net proceeds from the Notes offering for general corporate purposes, which may include refinancing, reduction or repayment of debt, investments in the Bank as regulatory capital, financing of possible acquisitions, including funding the cash portion of the consideration to be paid in the pending potential merger with Jefferson County Bancshares, Inc., as well as other corporate purposes. Sandler O'Neill + Partners, L.P. served as the sole underwriter of the offering. The Notes were offered pursuant to an effective shelf Registration Statement on Form S-3/A (File No. 333-197818) under the Securities Act of 1933, as amended, which was filed with the Securities and Exchange Commission (the "SEC") and dated August 18, 2014, a preliminary prospectus supplement with respect to the Notes filed with the SEC on October 26, 2016, and a final prospectus supplement filed with the SEC and dated October 27, 2016. Copies of the final prospectus supplement and accompanying base prospectus relating to the offering of the Notes may be obtained by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, the underwriter will send you the base prospectus and the related final prospectus supplement if you request it by contacting Sandler O'Neill + Partners, L.P. at Attention: Syndicate Operations, 1251 Avenue of the Americas, 6 th Floor, New York, NY 10020, or by calling toll-free at 866-805-4128, or by email at email@example.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Notes is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.