STIFEL TO ACQUIRE FINANCE 500 and CB RESOURCE
14 Mars 2024 - 1:30PM
Stifel Financial Corp. (NYSE: SF) today announced it has signed a
definitive agreement to acquire Finance 500, Inc. (“Finance 500”)
and CB Resource, Inc. (“CBR”). Terms of the transaction were not
disclosed.
The Irvine-based companies, which operate as
strategic partners under common ownership, are market leaders in
the underwriting and issuance of certificates of deposits, having
assisted more than 1,200 depository institutions in raising over
$200 billion to support near and long-term funding needs. CBR
offers an advanced technology-enabled platform to deliver
enterprise risk management, strategic planning, capital planning,
and interactive performance-based analytics for community banks
nationwide.
“We are always looking for opportunities to
enhance our offering and better serve our clients,” said Brant
McDuffie, Global Co-Head of Stifel Fixed Income Capital Markets.
“The addition of Finance 500 and CBR provides Stifel a
technology-driven platform that will ensure our existing brokered
CD funding business, our institutional CD investment offerings, and
our community bank balance sheet risk management practice, are
scalable and sustainable for the future. We all share the same
client-driven approach and expect the Finance 500 and CBR teams to
seamlessly integrate into our platform.”
“Finance 500 and CBR, with our 40 years of
experience, joined forces to deliver industry-leading CD funding,
trading, ERM, planning, and performance-based analytics on a
scalable platform,” stated Jeff Rigsby, Chairman and CEO of both
companies. “We couldn’t be more excited to join Stifel’s solutions
and growth-driven team. Our clients will benefit from Stifel’s
market presence, financial strength, and access to the firm’s
comprehensive suite of products and services.”
Keefe, Bruyette & Woods, A Stifel Company,
acted as exclusive financial advisor and Bryan Cave Leighton
Paisner LLP acted as legal advisor to Stifel in the transaction.
Houlihan Lokey acted as exclusive financial advisor and Calfee,
Halter & Griswold LLP acted as legal advisor to Finance 500 and
CB Resource.
Stifel Company InformationStifel
Financial Corp. (NYSE: SF) is a financial services holding company
headquartered in St. Louis, Missouri, that conducts its banking,
securities, and financial services business through several wholly
owned subsidiaries. Stifel’s broker-dealer clients are served in
the United States through Stifel, Nicolaus & Company,
Incorporated, including its Eaton Partners and Miller Buckfire
business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel
Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada
Inc.; and in the United Kingdom and Europe through Stifel Nicolaus
Europe Limited. The Company’s broker-dealer affiliates provide
securities brokerage, investment banking, trading, investment
advisory, and related financial services to individual investors,
professional money managers, businesses, and municipalities. Stifel
Bank and Stifel Bank & Trust offer a full range of consumer and
commercial lending solutions. Stifel Trust Company, N.A. and Stifel
Trust Company Delaware, N.A. offer trust and related services. To
learn more about Stifel, please visit the Company’s website at
www.stifel.com. For global disclosures, please visit
https://www.stifel.com/investor-relations/press-releases.
Finance 500, Inc. and CB Resource, Inc.
InformationFinance 500, Inc. (“Finance 500”) is a
brokerage and investment services provider focused on underwriting
FDIC-insured Certificates of Deposits and fixed income securities
trading. CB Resource, Inc. (“CBR”) also operating as F500
Performance Management Group (“PMG”) seamlessly integrates ERM,
strategic and capital plan solutions, and robust industry analytics
through its fully integrated tech-enabled platform. For more
information go to www.finance500.com and
www.cb-resource.com.
Cautionary Note Regarding
Forward-Looking Statements The information contained in
this press release contains certain statements that may be deemed
to be “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements in this report not dealing
with historical results are forward-looking and are based on
various assumptions. The forward-looking statements in this report
are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed in or implied by
the statements. Material factors and assumptions could cause actual
results to differ materially from current expectations. The Company
does not undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made. The Company disclaims any
intent or obligation to update these forward-looking
statements.
Media ContactNeil Shapiro,
(212) 271-3447shapiron@stifel.com
Investor Relations Contact Joel
Jeffrey, (212) 271-3610 investorrelations@stifel.com
Stifel Financial (NYSE:SF)
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