<SEC-DOCUMENT>0001025835-17-000027.txt : 20170524
<SEC-HEADER>0001025835-17-000027.hdr.sgml : 20170524
<ACCEPTANCE-DATETIME>20170130105452
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001025835-17-000027
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20170130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENTERPRISE FINANCIAL SERVICES CORP
		CENTRAL INDEX KEY:			0001025835
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				431706259
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		150 NORTH MERAMEC
		STREET 2:		150 NORTH MERAMEC
		CITY:			CLAYTON
		STATE:			MO
		ZIP:			63105
		BUSINESS PHONE:		3147255500

	MAIL ADDRESS:	
		STREET 1:		150 NORTH MERAMEC
		STREET 2:		150 NORTH MERAMEC
		CITY:			CLAYTON
		STATE:			MO
		ZIP:			63105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENTERBANK HOLDINGS INC
		DATE OF NAME CHANGE:	19961024
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div><a name="sf6823eaca7c243e98e049189711b4079"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;"><img src="reedsmithlogoa03.jpg" alt="reedsmithlogoa03.jpg" style="height:45px;width:240px;"></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reed Smith LLP</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Three Logan Square</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1717 Arch Street, Ste. 3100</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Philadelphia, PA 19103</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tel: 215.851.8100</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fax: 215.851.1420</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">January 30, 2017</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">VIA EDGAR</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Securities and Exchange Commission</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Division of Corporation Finance</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">100 F Street, N.E.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Washington, D.C. 20549</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Attn: David Lin</font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Re:</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Enterprise Financial Services Corp</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Registration Statement on Form S-3</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Filed December 28, 2016</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">File No. 333-215348</font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Dear Mr. Lin:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On behalf of our client, Enterprise Financial Services Corp (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), we submit this letter in response to comments from the staff (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Staff</font><font style="font-family:inherit;font-size:11pt;">&#8221;) of the Securities and Exchange Commission (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Commission</font><font style="font-family:inherit;font-size:11pt;">&#8221;) issued in its letter dated January 24, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Comment Letter</font><font style="font-family:inherit;font-size:11pt;">&#8221;) relating to the above-referenced Registration Statement on Form S-3 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221;). We are concurrently submitting via EDGAR this letter and a revised registration statement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Revised Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Set forth below in bold are comments from the Comment Letter.  For your convenience, each of the numbered paragraphs below corresponds to the numbered comment in the Comment Letter and includes the caption used in the Comment Letter. Immediately following each comment is our response to that comment, including, where applicable, a cross-reference to the location of changes made in the Revised Registration Statement in response to the Staff&#8217;s comment. Defined terms used but not otherwise defined herein have the meanings ascribed to such terms in the Revised Registration Statement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Exhibit 4.4 and 4.6 - Forms of Indenture</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">We note that you plan to file the forms of indenture (Exhibits 4.4 and 4.6) by amendment or as an exhibit to a report filed pursuant to the Securities Exchange Act of 1934 to be incorporated by reference, if applicable. Indentures covering securities to be issued in a registration statement must be qualified at the time the registration statement relating to those securities becomes effective. Please refer to Section 201.04 of the Trust Indenture Act Compliance and Disclosure Interpretations. Accordingly, please file the forms of indenture as exhibits to your next pre-effective amendment. </font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company acknowledges the Staff&#8217;s comment and respectfully advises the Staff that it has revised the Registration Statement to include a form of senior indenture and a form of subordinated indenture as Exhibits 4.4 and 4.6, respectively, to the Revised Registration Statement. </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Exhibit 5.1 - Opinion of Reed Smith LLP</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Please have counsel revise its opinion in paragraph 3 to also state that the depositary shares will entitle their holders to the rights specified in the deposit agreement. For guidance, please refer to Section II.B.1.d of the Staff Legal Bulletin No. 19.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company acknowledges the Staff&#8217;s comment and respectfully advises the Staff that paragraph 3 in the opinion has been revised in accordance with the Staff&#8217;s comment 2, to state that the depositary shares will entitle holders to the rights specified in the depositary receipts. A revised copy of our counsel&#8217;s legal opinion letter is filed as Exhibit 5.1 to the Revised Registration Statement.</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">We note the statement in the penultimate paragraph that the opinion &#8220;is to be used only in connection with the offer and sale of the Securities&#8230;and may not be&#8230;furnished to, quoted to or relied upon by any other </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">person or entity</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#8230;&#8221; (emphasis added). Please file a revised opinion that does not state or imply that investors are not entitled to rely on the opinion. For guidance, please refer to Section II.B.3.d of the Staff Legal Bulletin No. 19.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company acknowledges the Staff&#8217;s comment and respectfully advises the Staff that we have revised the opinion in accordance with the Staff&#8217;s comment 3, to remove the statement or implication that investors are not entitled to rely on the opinion.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Should you have any questions concerning any of the foregoing, please contact me by telephone at (215) 851-8180.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Sincerely,</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">/s/  Paul Jaskot</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Paul Jaskot</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">cc:&#160;&#160;&#160;&#160;Keene S. Turner,</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Chief Financial Officer of</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Enterprise Financial Services Corp</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
