(By Balaseshan) MainSource Financial Group Inc. (NASDAQ: MSFG) said its subsidiary MainSource Bank has agreed to buy assets under management as well as employees of Krumme and Brock Investment Services LLC, effective September 24.
The employees will join MainSource Investment Services, which operates within MainSource Bank's Wealth Management division.
Krumme and Brock Investment Services is currently an independent firm offering securities through Raymond James Financial Services Inc. Financial advisors and firm owners, Galen Krumme and Cliff Brock, and Registered Administrative Assistant Kimberly Wetzel will join the MainSource team immediately.
The investment services team has more than 50 years of combined experience in the financial services industry and has served Seymour and the surrounding areas for more than a decade.
Krumme and Brock's current office location in Seymour, Indiana, will continue to house the investment services team until MainSource Bank's permanent banking location is complete in 2013.
"With MainSource Bank's recent expansion into the Seymour market, the addition of such an established and respected investment services firm only deepens our commitment to offering a complete line of financial products and services to the area. Because both firms offer securities through Raymond James Financial Services, current clients of Krumme and Brock will experience no changes in their accounts or services," said Daryl Tressler, chief executive of MainSource Bank.
MSFG is trading down 1.33 percent at $12.66 on Thursday. The stock has been trading between $7.66 and $13.40 for the past 52 weeks.