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Stifel completes acquisition of Business Bancshares

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Stifel completes acquisition of Business Bancshares

St. Louis-based Stifel Financial Corp. completed its acquisition of Clayton, Mo.-based Business Bancshares Inc. and unit Business Bank of Saint Louis, effective Aug. 31.

Upon deal closing, Business Bank of Saint Louis was renamed Stifel Bank.

On a consolidated basis, Business Bancshares had approximately $607 million in assets, $500 million in loans and $522 million in total deposits as of June 30. Meanwhile, Stifel had $22.61 billion in assets as of the same date, according to S&P Global Market Intelligence.