NASDAQ-Listed Firm Bolsters Wealth Management Offering With Acquisition

Harry Keir Hughes

23 February 2017

US-headquartered MainSource Bank has agreed to acquire the assets and employees of First Service Capital Management, an independent firm that offers securities through Raymond James.

First Service Capital Management’s team of financial advisors and its owner, Gary Bowers, will join MainSource immediately, said Dan Anderson, senior vice president and director of wealth management at MainSource, in a statement.

First Service Capital Management offers securities through Florida-based Raymond James. Its investment services team will remain in its current office location in Elizebethtown, Kentucky.

“Because both firms offer securities through Raymond James Financial Services, current clients of First Service Capital Management will experience no changes in their accounts or services,” said Anderson.

He added: “The current staff are a welcome addition to the MainSource team and will continue to service their clients as they have in the past."

NASDAQ-listed MainSource has assets under management of approximately $4 billion, and has offices in Indiana, Illinois, Kentucky and Ohio.