Hovde Group Expands Depository Team With Addition of Investment Banking Group Led by Veterans Craig Mancinotti and Rick Maroney

CHICAGO--(BUSINESS WIRE)--Hovde Group, LLC (“Hovde”), a leading full service investment bank and broker dealer that provides investment banking, capital markets, equity research, and sales and trading services focused on the financial services sector, today announced that it will add an investment banking team led by Craig Mancinotti and Rick Maroney, who will be Senior Managing Directors in Hovde’s Depository practice. The investment banking team also includes Mike Moran, Managing Director, and four additional investment banking professionals.

Hovde will open a new office in Toledo, OH, which Mancinotti and Maroney will lead. They will be responsible for providing investment banking and select consulting services, including M&A advisory and capital markets solutions to depository institutions throughout the Midwest and other markets around the country. Mancinotti and Maroney each have nearly 40 years of experience in the community bank space, most recently serving as Managing Directors for ProBank Austin. They have been involved in over 250 successful M&A transactions representing both buyers and sellers.

Mancinotti and Maroney are frequent speakers at conferences throughout the country for both state and national organizations, including Bank Director’s annual “Acquire or be Acquired” conference. They have also been quoted as industry experts in newspapers and industry periodicals throughout the country, including S&P Global Market Intelligence, the Wall Street Journal and CNBC.

“We’ve known Craig and Rick for many years, as well as competed against them on many deals, and have followed their success throughout the country,” commented Kirk Hovde, Managing Principal & Head of Investment Banking. “In continuing to evaluate growth opportunities for our firm, we see the addition of Craig and Rick, and their team, as a natural fit to strengthen our midwestern presence given their extensive experience, entrepreneurial mindset and above all else their reputation to deliver excellent service to their clients.”

Mancinotti & Maroney added, “In recent years, we’ve watched Hovde Group continue to grow with the addition of Capital Markets, Research and Sales & Trading, as well as consistently be ranked as one of the most active M&A advisors to community banks. The combination of Hovde’s platform and culture are second to none in our opinion and made the decision much easier. Joining Hovde offers an exciting opportunity to leverage our client relationships with an expanded array of services and execution skills.”

The move will become effective October 1, 2022.