Stifel Financial Corp. (NYSE:SF) entered into a definitive agreement to acquire City Financial Corporation on September 13, 2016. The consideration was paid in cash and common stock. As per the terms of the deal, Stifel Financial Corp. will issue 0.18 million shares. As per the agreement City Financial Corporation and its wholly owned subsidiary City Securities Corporation will be part of the transaction but City Financial Corporation's two other wholly owned subsidiaries, City Securities Insurance, LLC and City Real Estate Advisors, are not part of this transaction. Upon completion of the transaction City Financial Corporation's entire team of top managers and all financial advisors and bankers will continue to work with Stifel Financial Corp. The transaction is expected to close in the first quarter of 2017. Eric Kalinowski of Keefe, Bruyette, & Woods, Inc. and Bryan Cave, LLP acted as financial and legal advisor respectively to Stifel Financial Corp. in the transaction. Piper Jaffray Companies (NYSE:PJC) and Barnes & Thornburg LLP acted as financial and legal advisor respectively to City Financial Corporation in the transaction. Stifel Financial Corp. (NYSE:SF) completed the acquisition of City Financial Corporation on January 3, 2017.