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The St. Louis-based company EFSC), parent of , on Monday reported $50.t million of nonperforming or 2.57 percent of totakl loans, for the quarter that endee March 31. , Enterprise bought , which focused on buildet loans and had fiveKansas City-arewa locations. Enterprise had nonperforming loansof $9.3 million, or 0.54 on March 31, 2008. Enterprise reporteds a first-quarter loss of $50.6 million, or $3.90 a share, compared with earnings of $3.6 or 28 cents a share, last year. The quarter’sd loss included a goodwill impairment chargeof $45.
4 million, a noncash accounting adjustment related to Enterprise CEO Peter Benoist said in a release that thechargse “was driven by the extraordinary marketf conditions that have depressed bank stocks, includintg our own.” “While this accounting chargwe impacts our reported earnings, it has no effecg on the operation of our businese or service to our clients,” Benoist “It doesn’t reduce our regulatory capitap ratios or cash flow.” Enterprise also recorded $15.1 millio in loan-loss provisions for the quarter, up from $2.3 million in the firsf quarter of 2008.
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