CSI, a financial software company in Paducah, Ky., has acquired Hawthorn River, a St. Louis firm that offers a loan origination platform for community banks.
The price wasn’t disclosed.
“Lending is one of the most critical lines of revenue for community banks, yet it also is the most plagued by inefficiency and outdated technology,” David Culbertson, CSI’s president and CEO, said in the release.
The acquisition “is the latest step in addressing those needs,” Culbertson added. “Throughout our partnership and in conversations with the Hawthorn River team and customers, it became clear how much their solution resonates with community bankers.”
Jon Rigsby and Wayne Ferrell founded Hawthorn River in 2018.