2008-07-15 09:37:00
Alliance Combines World-Class Independent Investment Expertise with
Community Bank Personal Service
GREENWOOD, S.C., July 15 /EMWNews/ -- TCB Corporation, the holding
company for Countybank, Countybank Trust Services, Countybanc Insurance,
Inc. and Countybanc Investment Services, Inc, announced today it is
acquiring a majority interest in Greenwood Capital, LLC, a registered
investment advisory firm located in Greenwood. The partnership now links
Countybank and Greenwood Capital clients with an expanded, more integrated
approach to meeting their financial needs, including access to diversified
investment options, proven investment managers and styles.
The union between both locally-owned Countybank and Greenwood Capital
will provide high net worth individuals, business owners, endowments and
foundations with strategic, in-depth investment advisory experience
combined with the personal, high-touch feel of a 75 years strong community
bank. Clients will also have access to the in-house diversified expertise
of Certified Financial Planners, insurance professionals, mortgage bankers,
a dedicated trust services department, and lifestyle-enhancing banking
products to best execute their financial plans.
Greenwood Capital will continue operations as an independent subsidiary
of TCB Corp. The combined entity now has more than $1.1 billion in assets
managed or administered and is one of the largest independent investment
advisory firms in South Carolina.
"We have always enjoyed a close working relationship with Greenwood
Capital, frequently serving as trustee or custodian for many of their
clients," said TCB Corporation President and CEO R. Thornwell Dunlap, III,
who billed the acquisition as a 'natural extension of a partnership of
equals with complementary skill sets.' "Our combined organizations can meet
all the financial needs of individual or institutional investors through
more than 150 years of aggregate investment and related experience. Clients
can also be assured that they are dealing with strong, financially sound
firms that have assembled a world-class team of professionals to help them
grow, protect and pass along their wealth in ways that are aligned with
their individual objectives."
J. Philip Bell, President of Greenwood Capital concurred: "Greenwood
Capital has successfully managed proprietary equity and fixed-income
products for clients of Countybank and many others nationwide. Now we are
positioned to offer a broader spectrum of proven investment choices to all
our clients by combining the tools and experience of our two
organizations." Bell continued: "This powerful combination positions us as
one of the premier money managers in the Southeast."
About Countybank
Founded in 1933 to serve the Greenwood community, Countybank is a full
service, integrated financial services provider with more than one hundred
employees serving South Carolina with four full-service locations in
Greenwood and Greenville and an insurance office in Lexington. In addition
to a full array of banking products, Countybank has several divisions
including Countybank Trust Services, Countybank Mortgage Services,
Countybanc Investment Services, Inc., and Countybanc Insurance, Inc., to
meet the needs of South Carolina communities. Each division is staffed by
the area's most sought- after professionals in their respective fields to
provide customers with the tools to achieve their financial goals.
About Greenwood Capital Associates, LLC
The roots of Greenwood Capital date back to 1960 as the Investment
Department of Greenwood Mills, Inc., a national textile firm headquartered
in Greenwood, South Carolina. Greenwood Capital Associates, Inc. (GCAI)
became a separate company in 1983. In 2001 Greenwood Capital Associates,
LLC acquired substantially all the assets of GCAI, in conjunction with the
"lift-out" of a principal. Today, Greenwood Capital is a nationally
recognized investment advisory firm offering proprietary equity and
fixed-income funds, as well as customized portfolio solutions to some of
the world's largest institutional and high net worth individual investors
and employee benefit plans. Greenwood Capital has offices in Greenwood and
Greenville, South Carolina.
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