Performance Trust Capital Partners has agreed to buy Monroe Financial Partners to bolster its services for community banks and depository investors.
Monroe, which will continue to operate under its brand, is a market maker in more than 350 smaller banks.
“Given the challenging operating environment for banks, we expect there will be opportunity for growth and market share gains for those who are prepared,” Daryle DiLascia, Performance Trust’s head of equities, said in the release. “This acquisition will enhance our ability to help our clients win and confidently act on a broader set of strategic options.”
The transaction is expected to close in the first quarter. The price wasn’t disclosed.