On April 26, 2021, Enterprise Financial Services Corp, Enterprise Bank & Trust, First Choice Bancorp, and First Choice Bank entered into an agreement and plan of merger, or the merger agreement, pursuant to which First Choice will merge with and into Enterprise, with Enterprise continuing as the surviving entity, which is referred to as the merger. Immediately following the merger, FCB will merge with and into EB&T, with EB&T as the surviving institution. Enterprise and First Choice have determined that Peter Hui, the founder and chairman of the board of directors of First Choice, will be appointed to the Enterprise board, with such appointment to be effective as of the effective time of the merger. Mr. Hui will serve until the first annual meeting of the shareholders of Enterprise following the effective time of the merger and until he or his respective successor is elected and qualified.