Akande joins Enterprise Bank & Trust Board

Benjamin Akande, dean of the George Herbert Walker School of Business atWebster University, has joined the board ofEnterprise Bank & Trust.

Steve Marsh, bank chairman, said in a statement, “He’s highly respected not only for his effective leadership of Webster University’s business school but also his extensive involvement with leading business and community organizations.”

Akande earned a Ph.D. in economics from the University of Oklahoma and did post-doctoral work at Harvard University’s John F. Kennedy School of Government and Oxford University’s Said School of Business. He has appeared on “Anderson Cooper 360,” “CBS Evening News” and NPR’s “Marketplace.”

Enterprise Financial Services Corp., the bank’s parent company, last week reportedsecond-quarter net income of $7.2 million, down 35 percent from last year’s quarter. Company executives said the decrease primarily was due to a $4.3 million reversal of provision for loan loss recorded in the prior-year period, as well as a $2.4 million reduction in net revenue from its purchase credit impaired loans due to declining balances and lower accelerated cash flows from those loans.

Greg Edwards, Reporter-St. Louis Business Journal