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Enterprise Financial Announces Third Quarter Results, Capital Initiatives and Goodwill Adjustment
ST. LOUIS, Oct. 23, 2008 (GLOBE NEWSWIRE) -- Enterprise Financial Services Corp (Nasdaq:EFSC) reported third quarter net income of $1.3 million, or $0.10 per fully diluted share, after giving effect to a $5.9 million non-cash goodwill impairment charge associated with Millennium Brokerage Group (MBG), its wholesale insurance brokerage subsidiary, which represented $0.29 per fully diluted share. Prior year third quarter earnings were $5.0 million, or $0.40 per fully diluted share. Year-to-date net income was $8.4 million, or $0.66 per fully diluted share, compared to $12.7 million, or $1.01 per fully diluted share, for the prior year period.