It has assets under management approaching $1 billion; CWB believes Adroit to be an excellent strategic fit with CWB’s existing banking and trust operations.

The transaction, subject to regulatory approval, is expected to provide a modest positive earnings impact from the start. It also supports one of  the bank’s key strategic objectives: increasing revenue diversification and earnings growth. Specific financial details have not been released.

CWB, with total balance sheet assets of more than $10 billion and assets under administration of over $4 billion, specialises in midmarket commercial lending and offers a full range of retail services.