May 30, 2024

Cocoabar21 Clinton

Truly Business

b1Lender acquires Mississippi-centered expenditure advisor

1 min read

Small business To start with Bancshares, the holding enterprise for b1Lender, and Smith Shellnut Wilson LLC right now announced the two businesses have signed a definitive agreement under which b1Bank will purchase SSW. 

SSW is a registered investment advisor specializing in running investment decision portfolios for businesses, foundations and persons. The offer is predicted to be finalized in the upcoming handful of weeks. 

“B1Bank has worked carefully with SSW considering that the working day we chartered 15 yrs ago. We price the quantifiable impact they’ve had on the management of our expense portfolio,” claims Jude Melville, president and CEO of b1Lender, in a ready assertion. “Bringing SSW below the b1Lender umbrella will let us to extend the set of goods and products and services we offer you as a result of our Fiscal Institutions Group.” 

SSW, which was launched in 1995, is headquartered in Ridgeland, Mississippi, and presents expenditure advisory expert services which include things like discretionary and non-discretionary management of investment portfolios for a range of consumers.

As of December 31, 2020, SSW noted $3.5 billion in property beneath administration, though b1Bank managed $235 million by its Wealth Remedies Division. Pursuing consummation of the transaction, b1Financial institution expects to consolidate its Wealth Remedies Division with SSW and to proceed to work SSW as a subsidiary of b1Bank.

Fenimore, Kay, Harrison & Ford LLP acted as authorized adviser to B1Lender, while Brunini, Grantham, Grower & Hewes PLLC recommended SSW in the acquisition. 

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