Stephens served as exclusive financial advisor to Centric Financial Corporation and rendered a fairness opinion to its Board. | $144 Million | 08/30/2022

Stephens served as buy-side advisor to MindCare Solutions Group, Inc. on its acquisition of Psych360.

The Labor Department reported that <strong>initial jobless claims</strong> declined for the second straight week, signaling the labor market continues to show strength. This strength is defying the Fed’s efforts to cool labor demand in order to get inflation under control. Claims in regular state programs decreased 2,000 to 243,000 for the week ending August 20th, after reporting a downwardly revised 245,000 initial claims the prior week. The four-week moving average climbed to 247,000 from 245,500 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, decreased 19,000 to 1.415 million for the week ending August 13th.

Spencer Patton, whose company operates 225 routes in 10 states, has publicly pushed for better contract terms for delivery providers to account for inflation.

Odewald KMU Successfully Sells Heizkurier Group To NORD Holding. Stephens served as financial advisor to Odewald KMU and other minority shareholders on the sale of Heizkurier Group to NORD Holding.

Midland States Bancorp, Inc. Closes Preferred Equity Offering. Stephens served as Co-Manager in the offering by Midland States Bancorp, Inc. | $115 Million | 08/24/2022

Hub Group, Inc. has acquired TAGG Logistics, LLC Stephens served as exclusive financial advisor. | $103 Million | 08/22/2022

Stephens announced today that Peter McCorry, Russell Gunther and Jake Morton have joined its financial institutions group (FIG) within Institutional Equities and Research as managing directors.

Highland Bank has agreed to acquire Boundary Waters Bank Stephens served as exclusive financial advisor to Highland Bank.

The Labor Department reported that <strong>initial jobless claims</strong> declined for the first time in three weeks, signaling that companies continue to retain workers. While the labor market is solid, firms are getting more successful in hiring and retaining workers and under less pressure to raise wages. Claims in regular state programs decreased 2,000 to 250,000 for the week ending August 13th, after reporting a downwardly revised 252,000 initial claims the prior week. The four-week moving average fell to 246,750 from 249,500 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased 7,000 to 1.437 million for the week ending August 6th.