Haberling Financial Group Agrees To Merge With Community First Bank - New Trust Company To Be Formed

By: Haberling Financial Group
 
KENNEWICK, Wash. - Nov. 24, 2015 - PRLog -- Community First Bank (the “Bank”) is pleased to announce that Haberling Financial Group, a registered investment advisory firm with $325 million in assets under management in Kennewick, WA, has agreed to merge its wealth management business into a newly-formed subsidiary of the Bank. The subsidiary will be a trust company chartered by the State of Washington. Haberling Financial Group will become known as HFG Trust (hfgtrust.com).  The transaction is subject to regulatory and shareholder approval which are expected to be completed by the end of the year.

HFG President, Ty Haberling said, “Our corporate motto is to "Simplify Life" for our clients. Over the last decade as our clients have aged or amassed wealth many of them have come to need trust services. As a Registered Investment Advisory firm we are not eligible to custody assets like a trust company. Thus, we felt that it didn't make any sense to refer our clients that needed trust services to a different institution at a potentially emotional or challenging time.  So, we began looking at forming a trust company.  As we researched the project, it made more sense for Haberling Financial Group to partner with Community First Bank in contrast to going it alone. The bank brings capital, a strong leadership team, and a respected relationship with regulators as well as technology expertise.  This combined with our strengths of guiding clients through retirement, estate planning, and portfolio management will make for a powerful partnership.  I believe the merger will be quite seamless for clients. There will be no physical changes from the merger. We will be in the same office location with the same staff. We will continue to provide the current services of wealth and portfolio management; however, for those clients that need trust services we'll be able to satisfy that need as well. The Bank’s plan is to allow us the autonomy to grow our business in a way that benefits both our clients and the shareholders of CFB. We are truly excited with what the future holds.”

Eric Pearson, President of the Bank stated, “Community First Bank is excited to add Wealth Management and Trust Services to our product mix.  The merger with Haberling and creation of HFG Trust will allow us to more fully serve both our and their existing and future clients.  We are the only locally owned bank in the Tri-Cities and we will now be the only locally owned Trust company.  This expansion of services will allow our company to grow while maintaining our steadfast focus on this community.”

Contact
Contact: Ty Haberling (509) 735-7507
OR Eric Pear
***@hfginvest.com
End
Source:Haberling Financial Group
Email:***@hfginvest.com Email Verified
Tags:Trust Services, Wealth Mangement, Investments
Industry:Investment
Location:Kennewick - Washington - United States
Subject:Mergers
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