May 21, 2013
/PRNewswire/ -- Investment Professionals Inc. (IPI), a leading provider of investment services to community banks, announced today that it will provide full wealth management services to The Palmetto Bank, a
community-oriented bank based in
Greenville, South Carolina
and wholly-owned subsidiary of Palmetto Bancshares, Inc. (NASDAQ: PLMT). Converting from
brokerage services, The Palmetto Bank is implementing an integrated Wealth Management strategy with IPI. As part of the strategy, the Bank entered into separate agreements with Investment Professionals Inc. ("IPI") and Thomasville National Bank ("TNB") to enhance the delivery of brokerage services and trust services, respectively.
, Chairman of IPI said, "IPI is very excited to partner with The Palmetto Bank and TNB on this transaction. Together we look to expand the
in assets under management by The Palmetto Bank, as of
March 31, 2013
, by offering increased branch coverage, enhanced client products and services and seamless interaction between traditional trust and brokerage. IPI is uniquely qualified to combine and/or enhance community bank operations like this, and we look forward to many more in our 26 state foot-print."
"The Palmetto Bank has been continuously evolving and adapting over our 106-year history," said
Samuel L. Erwin
, President and Chief Executive Officer. "We are thrilled to enter into agreements with IPI and TNB to offer enhanced trust and brokerage services as part of our go-forward Wealth Management strategy. Working together, we are all committed to serving our existing and future clients through local trust officers of TNB and financial advisors of IPI conveniently located in our offices in the Upstate of
Successfully specializing in on-site delivery of investment programs and asset management services for community banks and other financial institutions, IPI currently partners with more than 150 financial institutions across the country, whose assets range from
. IPI has more than
under management for over 90,000 clients in 26 states. IPI has no debt and currently employs over 450 people.
About Investment Professionals Inc.
Investment Professionals Inc. (IPI) is a privately owned and operated
-based investment, insurance brokerage and asset management firm specializing in the on-site delivery of investment programs for financial institutions and providing turn-key fixed income, marketing and custody services to community bank trust departments across
the United States
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