Financial Services Acquisitions in Arkansas

Proterra Investment Partners, a Minneapolis-based alternative asset manager, has acquired AcreTrader, the farmland investment platform founded by Carter Malloy and previously part of Acres.com. AcreTrader will operate as part of Proterra to scale farmland offerings and broaden investor access while Acres.com remains an independent business; financial terms were not disclosed.

MAI Capital Management, a registered investment adviser, has acquired Garrison Asset Management, a Fayetteville, Arkansas-based wealth advisory firm with $317 million in client assets under management as of September 30, 2024. Garrison will adopt the MAI brand and integrate MAI’s internal infrastructure (HR, operations, marketing), with Kerry Bradley and James Bell joining MAI as senior portfolio managers; terms were not disclosed.

Novatae Risk Group acquired the assets of American Management Corporation (AMC) of Conway, Arkansas effective September 1, 2023. The deal brings AMC's specialty insurance programs for service stations, convenience stores and fuel marketers into Novatae's wholesale/MGA platform to expand its program offerings and distribution capabilities.

Celero Commerce, a Nashville-based payments and fintech provider, has acquired Community Bankers Merchant Services (CBMS), an Arkansas-based provider of electronic transaction processing for community and regional banks. The acquisition expands Celero’s financial-institution network and merchant footprint, bringing its total merchants served to over 53,000 and annual card volume to roughly $21 billion.

Sanctuary Wealth facilitated the acquisition of Marriott Wealth Advisors, a three-person independent retirement planning firm in Hot Springs Village, Arkansas, by integrating the practice as Marriott Wealth Advisors, Inc., a division of mFORCE Capital. Sanctuary supplied capital through its Partnership Program, taking a minority stake to provide long-term stability and growth resources while mFORCE Capital will operate the acquired practice; the firm brings approximately $140 million in client assets under advisement.

Southern Bancorp, Inc. has closed its acquisition of DeWitt First Bankshares Corporation and its wholly owned subsidiary Arkansas County Bank, adding three branches in DeWitt, Stuttgart and Lockesburg. The deal expands Southern's community banking footprint in Arkansas and Furthers its mission-driven banking and financial development services; terms were not disclosed.