Business & Tech
Clayton-Based Bank Plans Purchase of BankLiberty Site
Enterprise Bank and Trust is expected to buy the company's Creve Coeur branch.
Clayton-based Enterprise Bank and Trust plans to purchase deposits and other assets from , located at 11401 Olive Blvd. in Creve Coeur, the company announced Monday.
No purchase price was disclosed, but Jerry Mueller, an Enterprise senior vice president, told Creve Coeur Patch that BankLiberty holds $40 million in deposits at that location.
Champion Bank operated at the property until April 2010 when government banking regulators closed it. The site later reopened as a BankLiberty branch. The Enterprise Bank and Trust agreement does not include BankLiberty loans.
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Mueller said Creve Coeur's mix of residential and business clients, plus access to Maryland Heights, made the move attractive. The branch, which would be Enterprise's fifth in the St. Louis area, could open in October pending regulatory approval.
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