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ENTERPRISE Financial Services Corp ENTERPRISE FINANCIAL REPORTS FIRST QUARTER 2021 RESULTS Filed by Enterprise Financial Services Corp pursuant to Rule 425 under the Securities Act of 1933 , as amended , and deemed filed pursuant to Rule 14a - 12 under the Securities and Exchange Act of 1934 , as amended Subject Company : First Choice Bancorp Commission File No : 001-38476 EXHIBIT 99.1 First Quarter Results Net income of $ 29.9 million , $ 0.96 per diluted share Net interest margin ( tax equivalent ) of 3.50 % Return on average assets of 1.22 % Maintained dividend of $ 0.18 per share for second quarter Completed systems integration of Seacoast Commerce Banc Holdings ( " Seacoast " ) Announced the acquisition of First Choice Bancorp ( " First Choice " ) , a California based $ 2.5 billion commercial bank St. Louis , Mo. April 26 , 2021 - Enterprise Financial Services Corp ( Nasdaq : EFSC ) ( the " Company " or " EFSC " ) reported net income of $ 29.9 million for the first quarter 2021 , an increase of $ 1.0 million compared to the linked fourth quarter ( " linked quarter " ) and an increase of $ 17.1 million from the prior year quarter . Earnings per diluted share ( " EPS " ) was $ 0.96 for the first quarter 2021 , compared to $ 1.00 and $ 0.48 for the linked and prior year quarters , respectively . Jim Lally , EFSC's President and Chief Executive Officer , commented , " Today we announced the acquisition of First Choice headquartered in Cerritos , California . This transaction strengthens our California presence with a pro forma asset base of $ 3.8 billion . I am excited about how this adds to our expected growth prospects and diversification of our business , particularly in close proximity to the successful first quarter core systems integration for Seacoast . We are off to a solid start in 2021 , with earnings of $ 0.96 per share and continued execution on the Paycheck Protection Program ( " PPP " ) for the benefit of our customers . In addition , we issued our inaugural Environmental , Social and Governance report during March . I am pleased that we have taken the first step in reporting our ESG efforts and demonstrating the importance of our ESG objectives in meeting our mission . " Highlights • Earnings - Net income in the first quarter 2021 was $ 29.9 million , an increase of $ 1.0 million compared to the linked quarter and an increase of $ 17.1 million from the prior year quarter . EPS was $ 0.96 per diluted share for the first quarter 2021 , compared to $ 1.00 and $ 0.48 per diluted share for the linked and prior year quarters , respectively . Merger - related expenses from the Seacoast transaction reduced net income $ 2.4 million , or $ 0.07 per share . The increase in net income and EPS from the prior year quarter was primarily due to a decrease of $ 22.2 million in the provision for credit losses .