R&T to merge with TBS.

Reich & Tang Deposit Networks, a money management firm, agreed to merge with Total Bank Solutions, a provider of customized banking services intended to leverage technology for solving banking challenges. Estancia Capital Partners, a private equity firm, will have a majority interest upon close. Financial terms were not disclosed. "Joined with R&T, we will have a greater opportunity to create value by expanding the products and services we will be able to offer banks and wealth managers. TBS' technology investments in our Securities Based Lending and Deposit Management systems, when combined with the flexibility and depth of R&T's Demand Deposit Marketplace program and reciprocal bank network will enable us to better serve and deepen relationships with our clients, while continuing to provide the best possible client experience and access to our collective industry expertise and thought leadership," Eric Pierce, TBS Chairman.