PITTSBURGH--(BUSINESS WIRE)--TriState Capital Holdings, Inc. (Nasdaq: TSC) today announced that affiliates of Lovell Minnick Partners LLC have agreed to sell 2,200,000 shares of TriState Capital common stock in an underwritten public offering. Keefe, Bruyette & Woods, Inc., A Stifel Company, is acting as the sole book-running manager for the offering. TriState Capital is not selling any stock in this transaction and will not receive any proceeds from the secondary offering.
Lovell Minnick funds have been equity investors in TriState Capital since August 2012. Upon completion of the offering Lovell Minnick is expected to continue to own approximately 9% of the Company’s outstanding common stock. Lovell Minnick Co-Chairman James E. Minnick also remains a member of TriState Capital’s Board of Directors.
ABOUT TRISTATE CAPITAL
TriState Capital Holdings, Inc. (Nasdaq: TSC) is a bank holding company headquartered in Pittsburgh, Pa., providing commercial banking, private banking and investment management services to middle-market companies, institutional clients and high-net-worth individuals. Its TriState Capital Bank subsidiary had $4.7 billion in assets as of March 31, 2018, and serves middle-market commercial customers through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, N.J., and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. Its Chartwell Investment Partners subsidiary has more than $9 billion in assets under management, and serves as the advisor to The Berwyn Funds and Chartwell Mutual Funds.
