TriState Capital Holdings (TSC) has finalized a $105 million capital raise agreement with Stone Point Capital to support its growth strategy. The deal includes common equity, preferred stock, and warrants, expected to close in Q4 2020 pending regulatory approval. This investment will enhance TriState's capital position, allowing for double-digit loan growth and acquisitions at Chartwell Investment Partners. Since 2018, the firm raised over $300 million to fortify its operations, with Stone Point expected to own 8.5% of TSC's stock post-transaction.
TriState Capital Holdings (Nasdaq: TSC) has announced a conference call to discuss its third quarter 2020 financial results scheduled for October 22, 2020, at 8:30 a.m. ET. The results will be released after market close on October 21. Investors can pre-register for the call or access it via phone and audio webcast, with a replay available post-call until October 29. TriState Capital provides commercial banking, private banking, and investment management with $9.06 billion in assets as of June 30, 2020, and $9.25 billion in assets under management through its subsidiaries.