TriState Capital Reports Third Quarter 2016 Financial Results

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Go back to TriState Capital Reports Third Quarter 2016 Financial Results

Tristate Capital (TSC) Tops Q3 EPS by 6c; Agrees to Acquire Certain Assets from Aberdeen Asset Management

October 19, 2016 4:44 PM EDT

Tristate Capital (NASDAQ: TSC) reported Q3 EPS of $0.30, $0.06 better than the analyst estimate of $0.24.

TriState Capital also announced that it entered into a definitive agreement to acquire certain assets from Aberdeen Asset Management Inc. in a transaction designed to expand the fixed income investment team and product offering of the bank holding companys Chartwell Investment Partners business.

Institutional accounts with about $4 billion in client assets under management (AUM) are expected to move from Aberdeen to Chartwell upon closing of the transaction. The six Philadelphia-based investment professionals who currently manage these domestic... More