Financial Services Acquisitions in Missouri

Southern Bancorp, Inc. has closed its acquisition of Ozarks Heritage Financial Group, Inc. and its wholly owned subsidiary Legacy Bank & Trust, a $1.9 billion asset CDFI headquartered in Springfield, Missouri. The deal creates a nearly $5 billion asset community development financial institution and expands Southern Bancorp’s branch footprint across Arkansas, Missouri, Mississippi, Oklahoma, and Texas.

Wealth Enhancement, a national independent wealth management firm, has acquired Wise Wealth, an independent RIA with offices in Lee's Summit, Rolla, and Liberty, Missouri. The deal — Wealth Enhancement's 100th acquisition — brings Wise Wealth's approximately $464 million in client assets and a 12-person team into Wealth Enhancement, expanding the firm's presence in the greater Kansas City market and pushing total client assets to more than $125 billion.

BlackRock, Inc. has completed its acquisition of ElmTree Funds, adding the real-estate private equity firm to BlackRock's Private Financing Solutions (PFS) platform. ElmTree — a St. Louis–based specialist in commercial net-lease and build-to-suit industrial properties — will continue to be led by James Koman and is expected to expand PFS's capabilities to offer long-dated contractual income solutions to investors.

Dallas-based Prospera Financial Services has acquired St. Louis-based independent broker-dealer Cutter & Company, which manages approximately $2 billion in client assets with 40 advisors and 12 employees. The acquisition closed on March 31, 2025; Cutter's leadership and staff will remain in place while the firms integrate operations, compliance and technology to support advisor growth. Terms were not disclosed.

Gantry, a full-service commercial mortgage banking firm based in San Francisco, has acquired Q10 | Triad Capital Advisors, Inc., a Q10 Capital member with offices in St. Louis and Kansas City, Missouri. The deal expands Gantry's correspondent-driven production capabilities and increases its servicing portfolio by more than $1.5 billion, growing its servicing portfolio to $20 billion; Triad principals will retain an equity stake and employees will remain with the firm.

Commerce Bank (a unit of Commerce Bancshares, Inc.) has entered into a definitive agreement to acquire L.J. Hart & Company, a Chesterfield, Missouri-based municipal bond underwriting and advisory firm. The acquisition will integrate L.J. Hart into Commerce’s institutional fixed-income business to expand its municipal underwriting and public finance advisory capabilities; terms were not disclosed and closing is subject to regulatory approval.

Southern Missouri Bancorp Inc., the parent of Southern Bank, agreed to acquire Kansas City–based Citizens Bancshares Co. in a stock-and-cash transaction valued at approximately $140 million. The deal, unanimously approved by both boards, gives Citizens shareholders a choice of shares or $53.50 cash per share, will add 14 branches in Missouri and is expected to be accretive to Southern Missouri Bancorp's EPS over the following fiscal years, subject to customary approvals.

Funds managed by Wafra Inc. acquired a strategic minority ownership interest in St. Louis-based private equity firm Thompson Street Capital Partners to support the scaling of the Thompson Street platform and execution of key strategic initiatives. Terms were not disclosed and Thompson Street’s management and day-to-day operations remain under existing control.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Convergent Wealth Management, LLC, a Chesterfield, Missouri-based wealth management firm with approximately $130 million in AUM. The deal brings Convergent's entire team into Mercer as part of Mercer’s strategy to expand its Central U.S. presence and provide succession options for Convergent's founders.

Integrity Marketing Group has acquired Osborn Insurance Group, an independent marketing organization (IMO) based in Springfield, Missouri. The deal will integrate Osborn into Integrity's insurtech platform to provide the agency access to Integrity's quoting, enrollment, data/analytics and shared business services to accelerate agent support and growth.

QCR Holdings, Inc. agreed to acquire Guaranty Federal Bancshares, Inc. and merge Guaranty Bank into QCR’s Springfield First Community Bank charter, with the combined franchise operating under the Guaranty Bank name in Springfield and southwest Missouri. Consideration options include cash, QCR stock or a mix, and the transaction was valued at about $152 million based on QCR's Nov. 5, 2021 share price; closing was expected in early-mid 2022 subject to regulatory and shareholder approvals.

The Simplicity Group has acquired St. Louis-based Sinclair Financial Solutions, adding the holistic financial planning firm to its roster of partner distribution businesses. Owners Erin Sinclair and Donald Schneider will become partners with Simplicity and continue to serve clients under the Simplicity brand.

Class Valuation, a Gridiron Capital portfolio company, has acquired Pendo Management, LLC, a Kansas City–based appraisal management company that serves more than 150 customers nationwide. The add-on strengthens Class Valuation's market density in the Midwest and rural markets and brings Pendo's tech-enabled appraisal workflows and client-success teams into Class's platform.

First Mid Bancshares, Inc. (NASDAQ: FMBH) agreed to acquire Delta Bancshares Company, the parent of Jefferson Bank and Trust, in a transaction valued at approximately $106.3 million in aggregate consideration (cash and stock). In a separate agreement, First Mid also agreed to acquire approximately $225 million in loans and $280 million in deposits plus the relationship team from a separate St. Louis-area financial institution, expanding First Mid's presence in the St. Louis market.

The Hilb Group, a Richmond-based, Abry Partners-backed insurance brokerage, acquired The Keane Insurance Group of St. Louis effective May 1, 2019. The deal expands THG's national footprint into Missouri and adds The Keane Insurance Group's medical professional liability expertise; John Keane and KIG's associates will join THG and continue operating out of their St. Louis office.

Cleveland private equity firm CapitalWorks, LLC has acquired a majority ownership stake in Bancsource, Inc., a Republic, Missouri-based provider of ATM and cash-cycle equipment sales and maintenance services to banks and retailers. CapitalWorks said it plans to invest in and grow Bancsource while Bancsource's existing leadership will remain active in management.

LenderLive Network Inc.'s Settlement Services division acquired MoKan Title Services to expand its title and settlement capabilities, particularly in the default servicing space. Terms were not disclosed; MoKan provides residential and commercial title insurance and settlement services for lenders in the Missouri/Kansas region.