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Stifel Financial to acquire B&F Capital Markets

Stifel Financial Corp. has agreed to acquire B&F Capital Markets Inc., a Cleveland, Ohio-based provider of interest rate swap capabilities to regional and community banks.

Terms of the deal were not disclosed. The transaction is expected to close in the third quarter.

B&F enters into strategic partnerships with regional and community banks throughout the U.S., with assets between $500 million and more than $30 billion, and provides them with a fully operational and staffed client interest rate risk management group. Through the partnerships, B&F initiates, develops and grows interest rate derivative programs to hedge interest rate risk for the bank's commercial borrowers.

Keefe Bruyette & Woods acted as financial adviser and Bryan Cave Leighton Paisner LLP acted as legal adviser to Stifel for the deal. Sheumack & Co. GMA LLC served as exclusive financial adviser and Wilmer Cutler Pickering Hale and Dorr LLP served as legal counsel to B&F.