Raymond James completes TriState acquisition
June 1, 2022 - St. Petersburg-based Raymond James Financial has completed the previously announced acquisition of TriState Capital Holdings Inc., the financial institution announced Wednesday. “The strategic and cultural fit between Raymond James and TriState has been continually reinforced as our teams have worked toward this point over the last few months,” said Raymond James Chair and CEO Paul Reilly. “Our collective focus on client-first values and a long-term horizon are unique and a true differentiator for our firms. I’m thrilled to officially welcome TriState Capital to the Raymond James family and look forward to continue growing together.” Through the acquisition, each share of TriState Capital common stock was converted into the right to receive $6 in cash and 0.25 shares of Raymond James common stock, which represents per share consideration of $30.62 based on the closing price of Raymond James common stock on May 31. The shares of TriState Capital ceased trading after the closing of the NASDAQ stock market. The St. Pete Catalyst previously reported Raymond James planned to acquire TriState Capital Holdings in a $1.1 billion deal.