On June 8, 2022, Cary Street Partners announced an agreement to acquire Dixon, Hubard, Feinour & Brown, Inc. from Atlantic Union Bank.
Under the terms of the agreement, Cary Street Partners (“Cary Street”) acquired Dixon, Hubard, Feinour & Brown, Inc. (“DHFB”) from Atlantic Union Bank, a wholly-owned subsidiary of Atlantic Union Bankshares Corporation (“Atlantic Union”). DHFB will operate under the Cary Street brand. The transaction was expected to close by the end of June 2022 following all required regulatory approvals and satisfaction of customary closing conditions.
Cary Street, headquartered in Richmond, Virginia, is a financial services firm offering wealth management services to individuals, families, and institutions. Following its acquisition of DHFB, Cary Street will advise on approximately $7 billion in assets.
DHFB, headquartered in Roanoke, Virginia, is a wealth management firm. DHFB has approximately $1.6 billion in assets under management.
Atlantic Union (Nasdaq: AUB), based in Richmond, Virginia, is the holding company for Atlantic Union Bank. Atlantic Union Bank has 114 branches throughout Virginia, and in portions of Maryland and North Carolina.
To read the press release, please click here.