Debevoise, Seward Lead in Total Bank, Deposit Network Tie-Up (1)

Debevoise & Plimpton advised financial technology firm Total Bank Solutions on its merger with Reich & Tang Deposit Networks, a provider of FDIC deposit solutions to financial intermediaries.

Seward & Kissel represented Reich & Tang and private equity firm Estancia Capital Partners, a Reich & Tang stakeholder since December 2021. At the new transaction’s expected close in May, Scottsdale, Arizona-based Estancia will have a majority stake in the combined company, which will have assets under supervision of more than $220 billion, according to a statement.

The merged company aims to give banks, credit unions, wealth managers, and trust institutions a ...