SOURCE: Headwaters MB

Headwaters MB

November 16, 2010 09:00 ET

Headwaters MB Launches Financial Institutions Investment Banking Practice

DENVER, CO--(Marketwire - November 16, 2010) - Headwaters MB, an independent, middle-market investment banking firm, has created a Financial Institutions investment banking practice. The practice will initially focus on mergers and acquisitions and capital raising for community banks with assets totaling up to $3 billion. Jacob Eisen, Eliot Stark and Brian Ytterberg have recently joined Headwaters MB as Managing Directors to form the new group. The team will be based in Chicago.

"We've always seen great opportunities in the banking sector, and we've finally found a team with the energy, experience and judgment to provide great service experiences to those clients," said Headwaters MB Co-Founder and CEO Phil Seefried. "The team uniquely combines a highly successful track record in bank M&A and capital raising with the extensive operating, finance and regulatory expertise that our bank clients seek to navigate today's challenging market."

Stark stated that "there is a significant opportunity to participate in the impending wave of industry consolidation and to help create the next generation of successful and highly profitable community banks. Our new team is well-equipped to play a significant role in this transformative phase of the banking industry."

Brian Ytterberg has over twenty years of investment banking and financial advisory experience in the financial services sector and is a former head of the Financial Institutions investment banking group at Howe Barnes Hoefer & Arnett. Jacob Eisen and Eliot Stark are former Managing Directors at Chicago-based Capital Insight Partners, an investment bank Eisen co-founded to focus on middle-market community banks. Stark, who has more than 30 years of commercial banking experience, headed Capital Insight Partners' Detroit office. Previously, he was CFO and vice chairman of a publicly traded community bank in Michigan, and before that served as a corporate development, finance and planning executive for Comerica Bank, where he was involved with dozens of M&A transactions.

"This is an opportune time for community banks to consider merger opportunities that will reduce costs, increase lending limits, and provide better customer service," said Ytterberg. "Many of these institutions need to raise capital to satisfy regulatory requirements and to fund growth in a recovering economy. Meanwhile, institutional investors are seeking to invest in community banks with superb management teams and M&A strategies."

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