The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Northstar in Michigan buys wealth manager

Northstar Bank in Bad Axe, Mich., has acquired Cypress Capital Wealth Management in Ann Arbor, Mich.

The $901 million Northstar, a unit of Northstar Financial Group, retained James Housler, Cypress Capital’s founder and president, according to DBusiness Magazine. The price wasn’t disclosed.

“Personalization is the future of financial services, so the acquisition of Cypress Capital Wealth Management makes good business sense,” said Kevin Nelson, Northstar Financial’s CEO.

“I have followed James throughout his career and have no doubt that he is the perfect fit to lead this charge into wealth management to serve our banking clients across our network of branches,” Nelson added.

“Cypress Capital will allow Northstar Financial Group to further expand our personalized banking to offer enhanced integrated financial services to our high-net-worth customers,” said David Sass, Northstar Financial’s president.

“The Northstar banking relationship allows Cypress Capital clients direct access to leading community banks for all of their banking product and service needs, including loans and deposits,” Sass added.

Leave a Reply

Your email address will not be published.