Administration May 12, 2002
First Republic Bank Buys Investment Firm
December 17, 2001 (PLANSPONSOR.com) - San Francisco-based First Republic Bank, a provider of private banking, investment management and trust services announced that is has reached an agreement to acquire Santa Barbara-based Starbuck, Tisdale & Associates, an investment management firm.
Reported by Nicole Halsey
Founded in 1933, Starbuck, Tisdale & Associates manages equities and fixed-income securities for high net worth individuals, trusts, endowments and pension plans. The firm’s equity investment style is oriented toward long term, quality growth. The firm will operate independently as a wholly owned subsidiary. The firm currently manages approximately $1 billion in assets.
The Bank will pay approximately $13 million in cash and stock at closing, with additional payments to be made over the next seven years. The acquisition is expected to reach completion in the first quarter of 2002.
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