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Bank advisory firms merge

Bank advisory firms Professional Bank Services Inc. and Austin Associates have merged to form a new bank consulting and investment banking firm, ProBank Austin.

ProBank Austin will have offices in Louisville, Ky.; Nashville, Tenn.; and Toledo, Ohio, and will be headed by Chris Hargrove, who will serve as CEO. Hargrove was CEO of Professional Bank Services.

ProBank Austin will also offer certain investment banking services through its subsidiary, Investment Bank Services Inc.

Terms of the transaction were not disclosed in the Jan. 17 news release. ProBank Austin will continue to be privately owned by the management and employees of Professional Bank Services and Austin Associates.