Today it was announced that top ten accounting form FORVIS has acquired one of the leading compliance and training firms in the fintech space, ProBank Austin.
ProBank Austin, formed by the merger of Professional Bank Solutions and Austin & Associates in 2017, provides education, loan review, regulatory compliance, asset/liability and interest rate risk management, and capital advisory services to banks, credit unions and fintechs.
FORVIS, itself the product of a merger of BKD and Dixon Hughes Goodman completed just three months ago, is an accounting firm with $1.5 billion in revenue and 5,500 employees. This is its first acquisition since the formation of the new company.
The acquisition will become effective on October 1 and will give FORVIS a broader range of offerings for the financial services industry.
Marty Mitchell, ProBank Austin board director and longtime friend of Fintech Nexus, has been working on this deal for many months. He sent us this commentary:
This is a significant event for our employee-owned firm. We’ve been serving the financial industry for over 40 years. During the last nine years, we’ve built a strong set of relationships within fintech as well. A strong bond with so many forward-thinking institutions and their partners often facilitated by Fintech Nexus. Our joining forces with FORVIS will significantly enhance, expand our resources and our ability to serve our clients. Certainly, this makes me look forward to the next Fintech Nexus conference even more!
ProBank Austin is headquartered in Louisville, Kentucky and has other offices in Nashville, Tennessee and Toledo, Ohio. This footprint complements FORVIS’ existing presence in the region, which includes seven offices in Kentucky, Tennessee and Ohio.