NBA, Inc., to Join LarsonAllen, Become CliftonLarsonAllen
ST. LOUIS—December 2, 2011
—NBA, Inc., a regional accounting and consulting firm for financial institutions, will join with LarsonAllen LLP (LarsonAllen) on December 31, 2011, according to NBA CEO Charlie Cameron. NBA will also be part of the intended merger of Clifton Gundersonwith LarsonAllen on January 2, 2012, when the two CPA firms join to create national top-10 CliftonLarsonAllen
NBA has built a solid practice assisting financial institutions with consulting, loan review, internal audit, and compliance services while demonstrating significant annual growth, particularly over the past decade. More recently, in response to market needs and opportunities, NBA has sought to expand its offerings to include traditional tax and external audit services. “Combining with LarsonAllen fills in the missing piece in our menu of services and will allow us to easily integrate the talent and resources necessary to bring our clients stronger opinion audit and tax capabilities in a lower-risk, single-provider environment,” says Cameron. “At the same time, we can continue to offer the industry-specific outsourcing services that have been the backbone of our practice.”
Cameron adds that one of the other attractive features of this union is the alignment of the two firms’ geographic footprints. While LarsonAllen serves clients across the country, the financial institution practice out of its St. Louis office has generally been limited to Missouri and southern Illinois. The addition of NBA will enhance LarsonAllen’s geographic reach in the Midwest, particularly in central Illinois, Indiana, and Kentucky, where NBA has experienced substantial growth in recent years.
NBA was established in 1984 as a consulting firm focused on assisting financial institutions with successful turnaround strategies at the height of the eighties’ banking upheaval. The firm’s product line was later expanded to include outsourcing of internal audit, compliance, and loan review services. Cameron purchased NBA in 2000. It has since grown steadily and deliberately with the recruiting of professionals directly from the banking industry and has more than quadrupled in annual revenue. “Becoming part of LarsonAllen, and ultimately CLA, is the natural outgrowth of NBA’s achievements,” says Cameron. “I believe our clients will be excited that we can augment our offerings with the backing and resources of a high-profile national firm, all while retaining a close regional service approach.”
LarsonAllen is a top-20 CPA firm with more than 300 principals, approximately 1,800 people, and more than 45 locations across the country. The firm has developed deep industry specializations in many fields, including financial institutions. Merging in Clifton Gunderson in 2012 will place the combined firm among the country’s top 10 and position it as one of the very few firms of that size to focus primarily on privately held businesses, their owners, and nonprofits of all sizes. CLA will emerge as one of the leading providers to the financial institution industry, serving more than 1,500 banks and credit unions nationwide.
Scott Engelbrecht, principal-in-charge of LarsonAllen’s St. Louis office, says that joining with NBA provides the local markets more options. “This combination widens the pool of full-service single providers in the Midwest, especially for those small- and mid-sized community and regional banks that want more choices. A little more competition in that arena will be good for everyone.”
LarsonAllen LLP (LarsonAllen) is a professional service firm that provides audit, accounting, tax, consulting, and advisory services to organizations and individuals managing business ventures and finance. Founded in 1953, LarsonAllen’s certified public accountants, consultants, and advisors are dedicated to providing quality results to clients. LarsonAllen has approximately 1,800 people and $285 million in annual revenues. Offices are located in Arizona, Florida, Idaho, Illinois, Massachusetts, Minnesota, Missouri, North Carolina, Pennsylvania, Texas, Washington, Washington DC, and Wisconsin. LarsonAllen is an independent member of Nexia International, a top-10 worldwide organization providing global connections.
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