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Stifel Financial Corp. is set to acquire B&F Capital Markets Inc., which provides regional and community banks with interest rate swap capabilities.

B&F, headquartered in Cleveland, maintains seven offices nationwide with 27 employees. The company enters into strategic partnerships with regional and community banks throughout the U.S., ranging in asset size from $500 million to over $30 billion, acting as a client interest rate risk management group. Through these strategic partnerships, B&F initiates, develops, and grows interest-rate-derivative programs to hedge interest rate risk for the bank’s commercial borrowers.

Keefe, Bruyette & Woods, A Stifel Company, acted as financial adviser and Bryan Cave Leighton Paisner LLP acted as legal adviser to Stifel in the transaction. 

Sheumack & Co. GMA LLC acted as exclusive financial adviser, and Wilmer Cutler Pickering Hale and Dorr LLP acted as legal counsel to B&F Capital Markets, Inc.   

Terms of the transaction were not disclosed and it is expected to close in the third quarter of 2019.