Enova International, Inc. announced the withdrawal of its regulatory applications with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve for the proposed acquisition of Grasshopper Bancorp, Inc. The company's CEO cited a lack of clear regulatory standards for nonbanks seeking to become banks. Despite this change, Enova reaffirmed its financial outlook and announced plans to accelerate its share repurchase program.
Key Details
- Acquisition Update: Applications for the proposed acquisition of Grasshopper Bancorp, Inc. have been officially withdrawn as of September 14, 2026.
- Financial Outlook: The company reaffirmed its full-year 2026 guidance, expecting 20% to 25% revenue growth and 30% to 35% adjusted EPS growth year-over-year.
- Capital Allocation: Enova intends to accelerate its share repurchase activity, with $349 million available under its board authorization as of June 30, 2026.