Enova to acquire Grasshopper Bancorp for ~$369M in cash/stock; close expected 2H 2026

Enova International, Inc.

Deal values Grasshopper at ~$369M; consideration is 50% cash, 50% Enova stock at $9.69 per share.
Grasshopper holds $1.4B assets and ~$3B deposits (Sept 30, 2025); offers digital banking and BaaS.
Transaction expected to generate >15% adjusted EPS accretion for Enova; enhances balance sheet flexibility.
Requires Grasshopper shareholder approval, OCC and Federal Reserve approvals; voting agreements cover 56.3% of shares.
Combined entity to offer broader lending and deposit products under national bank charter; Grasshopper CEO to become president of surviving bank.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enova International, Inc. entered into Agreement and Plan of Merger with Grasshopper Bancorp, Inc. valued at approximately $350 million (effective 2025-12-10).

Action: entry
Agreement: merger
Counterparty: Grasshopper Bancorp, Inc.
Value: approximately $350 million
Effective: 2025-12-10

Exact text from the filing

On December 10, 2025, Enova International, Inc. (“Enova”), a Delaware corporation, and Grasshopper Bancorp, Inc. (“Grasshopper”), a Delaware corporation and the parent holding company of Grasshopper Bank N.A. (“Grasshopper Bank”), a national bank and wholly-owned subsidiary of Grasshopper, entered into an Agreement and Plan of Merger (the “Merger Agreement”).

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Enova International, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-315025

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