Hawthorn River is purpose-built for community banks to handle all loan types across consumer and commercial accounts through a single, end-to-end platform

CSI, a leading provider of end-to-end financial software and technology, announced today it has acquired St. Louis, Missouri-based software provider Hawthorn River, which offers a modern, single-platform loan origination system (LOS) purpose-built for community banks.

The transaction follows a successful commercial partnership between the two organizations to leverage Hawthorn River’s digital loan origination solution within CSI's software platform, and strengthens the companies’ existing technical integration. It also adds critical functionality to CSI’s comprehensive technology platform, which includes core processing, digital banking, payments, fraud and compliance, and cybersecurity. The integration enhances CSI customers’ loan origination capabilities across all loan types for both commercial and consumer accounts.

The acquisition also enables CSI to deliver single-point loan origination solutions to non-CSI community banks through strategic channel partnerships and API integrations with other technology and service providers.

“Lending is one of the most critical lines of revenue for community banks, yet it also is the most plagued by inefficiency and outdated technology,” said David Culbertson, CEO and president of CSI. “We’ve made it our mission at CSI not just to advocate for community banks, but to do everything in our power to deliver technologies that solve their most important problems and empower them to compete and scale. Our acquisition of Hawthorn River is the latest step in addressing those needs. Throughout our partnership and in conversations with the Hawthorn River team and customers, it became clear how much their solution resonates with community bankers. We’re excited to welcome the whole Hawthorn River team to CSI and work more closely than ever to solve a critical market gap.”

Jon Rigsby and Wayne Ferrell founded Hawthorn River in 2018 after spending two decades in the community banking sector across leadership roles in strategy, operations and technology. They identified a significant difference between the highly customized LOS solutions for large financial institutions and the limited solutions available for community and regional banks.

Today, Hawthorn River is the only single-point solution built specifically for community banks that can service all loan types within one platform.

“Wayne and I founded Hawthorn River with the singular goal of building and delivering a lending solution specifically for community banks, something that didn't exist even just a few years ago,” Rigsby said. “Community banks today are actively searching for ways to evolve and modernize, but they can't do it without the support of their technology partners. Where other LOS providers are pricing out community banks or delivering fragmented solutions, we are dedicated to giving community banks the tools and exceptional service they need to scale and thrive. It's that shared commitment with CSI that made this opportunity a natural fit. We couldn't have found a better partner to scale our loan origination technology and get it into the hands of more community bankers who need it.”

The acquisition is the latest demonstration of CSI’s commitment to delivering modern solutions to community and regional banks seeking ways to acquire, engage and retain account holders across a range of financial services. It reached an agreement in late October with Dragonfly Financial Technologies, a digital banking and treasury management fintech, to deliver flexible, expanded cash management solutions for businesses across ACH, positive pay and sweep accounts. CSI also recently appointed longtime financial services veteran Troy Bradley as CTO to lead the company’s product innovation strategies and announced Nick Reising as senior vice president of corporate development. The company also signed a record number of core deals through the first half of its fiscal year.

For more information, visit csiweb.com.

About CSI

As a forward-thinking software provider, Computer Services, Inc. (CSI) helps community and regional banks, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its nearly 60-year reputation for personalized service, CSI is shaping the future of banking by swiftly deploying advanced solutions that help its customers rival their competition.

About Hawthorn River

Hawthorn River is community banking software designed by community bankers. Our mission is to position community banks to remain competitive and independent in a rapidly consolidating industry. From streamlining the end-to-end lending process to automating specific steps along the way, Hawthorn River helps community banks increase productivity, reduce regulatory risk, and elevate the borrower experience. For information, visit hawthornriver.com.

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