CHICAGO, Dec. 31, 2015 (GLOBE NEWSWIRE) -- MB Financial Bank, N.A. (“MB”) (NASDAQ:MBFI), a wholly owned subsidiary of MB Financial, Inc., completed today its previously announced acquisition of MSA Holdings, LLC (“MSA Holdings”), parent company of MainStreet Investment Advisors, LLC (“MainStreet”) and Cambium Asset Management, LLC (“Cambium”). MSA Holdings will be a wholly-owned subsidiary of MB.
MainStreet, founded in 2003, provides investment advisory services for bank and independent trust companies, as well as insurance companies located throughout the United States. In its capacity as a sub-advisor, MainStreet provides investment recommendations, research, marketing and investment manager support to its clients.
Cambium, founded in 2014, is a wealth management firm dedicated to meeting the investment needs of individuals, families, foundations, endowments, and institutions. Cambium’s services include separate account management, retirement planning solutions, as well as a small account platform.
“We are delighted to be welcoming MSA Holdings’ clients and strong team of wealth management and investment professionals to MB. This transaction complements our existing wealth management business while providing significant opportunities for additional market share growth,” noted Mitchell Feiger, President and CEO of MB Financial, Inc., parent of MB.
John Crosson, Founder and Managing Member of MSA Holdings, added, “We are excited about concluding the transaction with MB, and look forward to the new year with expanded opportunities to serve our clients.”
MB Financial, Inc. expects the transaction to be slightly accretive to 2016 earnings per share.
MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, N.A. which has approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success.
Safe Harbor Statement: Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. By their nature, such statements are subject to numerous factors that could cause actual results to differ materially from those anticipated in the statements, as discussed in documents MB Financial, Inc. has filed with and furnished to the Securities and Exchange Commission.
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