SF - STIFEL TO ACQUIRE FINANCE 500 and CB RESOURCE | Benzinga
ST. LOUIS, March 14, 2024 (GLOBE NEWSWIRE) -- 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 ...