Enova To Acquire Grasshopper Bancorp In $369 Mln Cash-and-stock Deal

(RTTNews) - Enova International, Inc. (ENVA), a financial technology company, on Thursday announced has signed a definitive agreement to acquire Grasshopper Bancorp, Inc., parent of Grasshopper Bank N.A., in a cash-and-stock transaction valued at approximately $369 million.

The transaction closing is expected in the second half of 2026.

The transaction is expected to be more than 15% accretive to adjusted EPS in the first year after closing and more than 25% once synergies are fully realized.

The company said the deal will combine its consumer and small-business online lending capabilities with Grasshopper's digital banking infrastructure, creating a more diversified financial-services provider.

After completion, Grasshopper Bank will become Enova's bank subsidiary.

Steve Cunningham will serve as CEO of Grasshopper Bank and will also assume the role of Enova CEO on January 1, 2026, while Mike Butler will serve as President of Grasshopper Bank.

In the pre-market trading, Enova International is 1.33% higher at $143.28 on the New York Stock Exchange.