Mergers & Acquisitions ·
Enova withdraws proposed acquisition of Grasshopper Bancorp, cites unclear regulatory standards
ENVAEnova International, Inc.
Enova International, Inc. withdrew its applications with the Office of the Comptroller of the Currency and the Federal Reserve Board regarding the proposed acquisition of Grasshopper Bancorp, Inc., citing unclear regulatory standards for nonbanks seeking to become banks. The company reaffirmed its full-year 2026 guidance, expecting revenue growth of 20% to 25% and adjusted EPS growth of 30% to 35%. Enova also announced an intention to accelerate share repurchases, citing $218 million available under senior note covenants and $349 million under Board authorization expiring June 30, 2027. Enova International is a leading online financial services company that provides loans and financing to consumers and small businesses underserved by traditional banks.