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.

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