SCBIZ Daily Staff

GREENWOOD -- TCB Corp., the holding company for Greenwood-based Countybank, has announced it is acquiring a majority interest in Greenwood Capital LLC, an investment advisory firm in Greenwood.

Greenwood Capital will continue operations as an independent subsidiary of TCB Corp. The combined entity now has more than $1.1 billion in assets managed or administered and is one of the largest independent investment advisory firms in South Carolina.  

“We have always enjoyed a close working relationship with Greenwood Capital, frequently serving as trustee or custodian for many of their clients,” said R. Thornwell Dunlap III, president and CEO of TCB Corp. Dunlap called the acquisition a “natural extension of a partnership of equals with complementary skill sets.”

“Our combined organizations can meet all the financial needs of individual or institutional investors through more than 150 years of aggregate investment and related experience,” Dunlap continued. “Clients can also be assured that they are dealing with strong, financially sound firms that have assembled a world-class team of professionals to help them grow, protect and pass along their wealth in ways that are aligned with their individual objectives.”

J. Philip Bell, president of Greenwood Capital concurred: “Greenwood Capital has successfully managed proprietary equity and fixed-income products for clients of Countybank and many others nationwide.  Now we are positioned to offer a broader spectrum of proven investment choices to all our clients by combining the tools and experience of our two organizations.”  Bell continued: “This powerful combination positions us as one of the premier money managers in the Southeast.”