Raymond James to Acquire TriState Capital

Raymond James says it has reached an agreement to acquire TriState Capital Holdings. TriState offers private banking, commercial banking and investment management products and services, including securities-based lending, according to a story in Financial Advisor News. Under the terms of the cash-and-stock deal, which is valued at around $1.1 billion, TriState will continue operating under its own branch as a standalone division and independently chartered bank subsidiary of Raymond James. The companies expect the deal to close in 2022.