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Stifel Financial to Acquire Business Bancshares to Enhance Banking Capabilities in St. Louis
Wednesday 16 May 2018

16 May 2018 - Missouri, US-based financial services holding company Stifel Financial Corp. (NYSE: SF) has entered into a definitive agreement to acquire Business Bancshares, Inc. and its wholly owned subsidiary, The Business Bank of St. Louis, the company said.
Terms of the transaction were not disclosed, and it is expected to close in 4Q18.
Stifel said this acquisition represents another step in the build-out of its banking services in its Global Wealth Management business.
The Business Bank of St. Louis and Stifel Bank and Trust will operate as sister companies to broaden the products and services available to the clients of Stifel.
This will also expand Stifel's private banking and deposit product capabilities throughout the St. Louis region.
Stifel Financial Corp. conducts its banking, securities and financial services business through several wholly owned subsidiaries.
The company's broker-dealer clients are served in the United States through Stifel, Nicolaus and Company, Inc.; Keefe Bruyette and Woods, Inc.; Miller Buckfire and Co., LLC; and Century Securities Associates, Inc., and in the United Kingdom and Europe through Stifel Nicolaus Europe Ltd.
Business Bancshares, Inc. is a bank holding company and parent of The Business Bank of St. Louis. Business Bancshares, Inc. has, on a consolidated basis with its subsidiaries, approximately USD 620m in total assets, USD 516m of loans, USD 536m of total deposits, and USD 70m of tangible equity as of March 31, 2018.
Date Published: 16/05/2018
Target: Business Bancshares, Business Bank of St. Louis
Country: USA
Sector: Banking/Financial Services
Type: Corporate acquisition
Status: Agreed
Buyer: Stifel Financial Corp
Terms of the deal were not disclosed