BKD CPAs & Advisors, a High 20 Agency based mostly in Springfield, Missouri, is merging in Bankers Assurance LLC, a regulatory compliance agency in Little Rock, Arkansas, efficient Feb. 28, as BKD prepares for its megamerger with one other High 20 Agency, Dixon Hughes Goodman.
Bankers Assurance was based in 2009 and presently serves greater than 75 monetary establishments in Arkansas and surrounding states, together with small neighborhood banks and bigger regional banks.
As a part of the deal, a workers of 5, together with Bankers Assurance founder Shaun Harms, will probably be becoming a member of BKD within the agency’s Little Rock workplace. Monetary phrases of the deal weren’t disclosed. BKD has a workers of greater than 3,000, which incorporates roughly 310 companions and principals. The agency’s fiscal 12 months 2021 income was $758.12 million. When its merger with DHG is finalized within the second quarter of the 12 months, BKD is forecasting that the mixed income will probably be $1.four billion. The agency ranked No. 15 on Accounting As we speak’s 2021 record of the High 100 Corporations.
“Bankers Assurance may be very excited to hitch BKD,” Harms mentioned in an announcement Thursday. “The values and dedication to a top quality of labor are very aligned between each organizations, and collectively we are going to proceed offering a value-added service to our purchasers. We stay up for being a continued useful resource to neighborhood banks within the a few years to return.”
BKD already has a presence in Arkansas, the place the agency has greater than 150 professionals in places of work in Little Rock, Rogers and Fort Smith. “We’re excited to welcome Shaun Harms and the entire Bankers Assurance crew to BKD,” mentioned Susan Davenport, managing associate in Little Rock, in an announcement Thursday. “Our Arkansas monetary providers crew has identified the Bankers Assurance crew for a few years, and we now have all the time admired their status within the trade. Mixing our groups will result in providers and sources for our purchasers which might be way more than the sum of their components.”
In addition to the cope with DHG and Bankers Assurance, BKD acquired Schmidt Westergard final month in Mesa, Arizona. Final April, it acquired Strategic Sourcing Outcomes, a health-care provide chain consulting agency based mostly in Chicago. Final March, BKD acquired one other consulting agency, Hamernik, an Indianapolis-based agency that makes a speciality of restructuring and enterprise advisory providers.