Raymond James Financial announced it has completed the previously announced acquisition of TriState Capital Holdings, Inc. The cash and stock transaction was valued at approximately $1.1 billion.

“The strategic and cultural fit between Raymond James and TriState has been continually reinforced as our teams have worked toward this point over the last few months,” said Raymond James Chair and CEO Paul Reilly. “Our collective focus on client-first values and a long-term horizon are unique and a true differentiator for our firms. I’m thrilled to officially welcome TriState Capital to the Raymond James family and look forward to continue growing together.”

“We at TriState Capital are as excited about our future as we have ever been, and we are excited about our opportunity to partner with Raymond James who truly values what we have built and what we have left to achieve,” said TriState Capital Executive Chairman and founder Jim Getz. “Remaining as a separately chartered bank, TriState Capital Bank will continue serving our clients with premier private banking, commercial lending and treasury management solutions. Chartwell Investment Partners will complement and benefit from the resources offered by Carillon Tower Advisers.”