-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MqXgeu64jgN3aotv6WZIfAHZUk4M4XQ4vKuG+WDc9XHrOH6W77rinAUdSRgvyOVq SxxDFTQ7FuiLMpaA5BWN2Q== 0000908737-99-000323.txt : 19990927 0000908737-99-000323.hdr.sgml : 19990927 ACCESSION NUMBER: 0000908737-99-000323 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990922 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990924 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERPRISE BANCORP INC /MA/ CENTRAL INDEX KEY: 0001018399 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-79135 FILM NUMBER: 99716570 BUSINESS ADDRESS: STREET 1: 222 MERRIMACK ST CITY: LOWELL STATE: MA ZIP: 01852 BUSINESS PHONE: 5084599000 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 24, 1999 (September 22, 1999) -------------------- ENTERPRISE BANCORP, INC. (exact name of registrant as specified in charter) Massachusetts 0-21021 04-3308902 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 222 Merrimack Street 01852 Lowell, Massachusetts (Zip Code) (address of principal office) (978) 459-9000 (Registrant's telephone number, including area code) -2- Item 2. Other Events. On September 22, 1999, Enterprise Bancorp, Inc., a Massachusetts corporation (the "Company"), and its wholly owned subsidiary, Enterprise Bank and Trust Company, a Massachusetts trust company (the "Bank"), entered into a Purchase and Assumption Agreement (the "Agreement") with Fleet Financial Group, Inc. and its principal banking subsidiary, Fleet National Bank, pursuant to which the Bank will purchase two branch offices of Fleet National Bank. The Bank's acquisition of these branch offices is part of the overall sale of 306 branch offices of Fleet National Bank and BankBoston, N.A. to be completed in accordance with a divestiture order of the United States Department of Justice issued in connection with the pending merger of BankBoston Corporation with Fleet Financial Group, Inc. The Bank's acquisition of the branches remains subject to the parties' receipt of required federal and state regulatory approvals and satisfaction of various other customary closing conditions specified in the Agreement. A copy of the Company's press release pertaining to this transaction, issued on September 23, 1999, is included as Exhibit 99.1 to this Current Report. Item 7. Financial Statements, Pro Forma Financial Information, and Exhibits. (a) Financial Statements Not applicable. (b) Pro Forma Financial Information Not applicable. (c) Exhibits 99.1 Press Release dated September 23, 1999. -3- Signatures Under the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. ENTERPRISE BANCORP, INC. By: /s/ George L. Duncan George L. Duncan President Date: September 24, 1999 EX-99.1 2 EXHIBIT 99.1 PRESS RELEASE - IMMEDIATE RELEASE CONTACT: Mary Ellen Fitzpatrick James E. Mahoney Senior Vice President Senior Vice President Corporate Communications Corporate Communications Enterprise Bank Fleet Financial Group (978) 459-9000 (617) 346-5472 DATE: September 23, 1999 ENTERPRISE BANK ACQUIRES TWO FLEET OFFICES Enterprise Bank and Trust Company has entered into a purchase agreement with Fleet Financial Group to acquire two Merrimack Valley banking offices totaling $66 million in deposits. The acquisition, a result of the divestiture of Fleet banking offices after its merger with BankBoston, was announced by Enterprise Chairman and CEO George L. Duncan, and is contingent upon regulatory approvals. The two former Fleet branches are located at 223 Boston Road in Billerica and 20 Drum Hill Road in Chelmsford. The offices will continue to operate as Fleet branches until they are converted to Enterprise Bank offices in late spring of 2000. All current Fleet employees will be retained by Enterprise Bank and special notifications will be sent to all customers prior to the conversion. "The acquisition of these two strategically located offices is a very important step for Enterprise Bank in solidifying our presence in the Greater Lowell area," stated Duncan. Enterprise presently operates branches at 185 Littleton Road in Chelmsford and 674 Boston Road in Billerica. (Both existing locations exceeded growth projections during the past four years.) With the addition of the two new locations, the bank will be able to service customers on both sides of Billerica Center and likewise, on both Route 110 and Drum Hill, two of the major commercial corridors in Chelmsford. the Drum Hill location is ideally situated in the vibrant commercial area that connects the Highlands section of Lowell, Pawtucketville via the Rourke Bridge, and is easily accessible to North Chelmsford, and Tyngsboro. Enterprise Bank is a $400 million bank servicing growing businesses, professionals, and individuals in a region that extends from Lowell to Leominster. The bank, with trust assets of $200,000,000 and mortgages serviced, now exceeds $600 million under management. Enterprise Bank's services include retail banking, full-service investment management, trust services, mortgage banking, consumer lending, commercial lending, and leasing. With anticipated growth and the addition of the two new branches, Enterprise Bancorp is expected to approach 3/4 billion dollars in assets under management in the year 2000. Duncan remarked that "We are pleased to have reached an agreement with Fleet that fosters competition, further enhances our investment in communities we serve, and ensures maximum resources and accessibility to growing businesses, non-profits and individuals in our area. Today's announcement is a tremendous opportunity for Enterprise Bank to further its franchise in the Greater Lowell market. Our present management team is uniquely qualified to handle the full-service financial needs of the businesses and individuals currently serviced at both offices. We are extremely pleased and excited about the new addition to the Enterprise Bank family." Headquartered in downtown Lowell, Enterprise Bank currently operates offices in Billerica, Chelmsford, Dracut, Leominster, Tewksbury and is soon to open a new branch at 237 Littleton Road, Westford. Upon completion of the proposed acquisition, Enterprise Bank will operate 9 banking offices, a Trust Division and a Mortgage Center. ### -----END PRIVACY-ENHANCED MESSAGE-----