Argent Financial Group, a national financial services firm based in Ruston, La., has acquired Atlanta-based TMI Holdings, expanding its presence in the Southeast, Argent announced Tuesday.

With the acquisition, Argent will have more than $65 billion in client assets with 44 offices in 15 states. TMI’s flagship entity, TMI Trust Company, operates multiple business lines focused on institutional trusts, corporate trusts, custody and related services. Salem Trust Company, a business operating inside TMI Trust, provides retirement plan custody services. TMI is a mineral management company with more than three million mineral acres under its management.

Tony Guthrie, TMI’s executive chairman, will join Argent Financial Group as president and will remain executive chairman of TMI Trust. Chris Teevan, TMI’s chief operating officer, will be named Argent’s chief operating officer. TMI’s chief strategy officer, Chris Pitrof, will be named Argent’s chief strategy officer. Management of TMI Trust and its operating businesses will remain fully in place after the merger under the leadership of TMI Trust CEO Steve Eason.

“The Argent and TMI management teams have a long-running relationship,” said Kyle McDonald, Argent Financial Group’s CEO, in a statement. “TMI’s approach to institutional services and family wealth management aligns effortlessly with our business philosophy and, like Argent’s, TMI’s clients are accustomed to a high level of personal service. This is a win for both of our companies and, most importantly, our clients.”
“We believe this merger provides additional depth in services and resources available for clients of both companies,” Guthrie said.

Argent provides individuals, families, businesses and institutions with wealth management services, including trusts and estate planning, investment management, retirement plan consulting and administration, employee stock ownership plans, funeral and cemetery trusts, charitable organization administration and oil and gas management.

TMI Trust was founded in 1954 as a Texas chartered trust company and is now headquartered in Tampa, Fla., as a Florida trust company. Since its inception, TMI Trust has grown into a full-service provider of trust and agency services.