NORWICH, N.Y. — EPIC Advisors, Inc., a subsidiary of NBT Bancorp Inc., has acquired Retirement Plan Services, LLC (RPS), a retirement-plan services company located near St. Louis, Missouri.
EPIC is a Rochester–based 401(k) record-keeping firm, while RPS provides recordkeeping, administration, and plan-design services for employers nationwide, NBT Bancorp said in a news release. NBT didn’t disclose any financial terms of the deal.
“We’re pleased to have this opportunity to continue the growth of our well-established retirement-services business with the acquisition of RPS by EPIC,” John Watt, Jr., president and CEO of NBT Bancorp, said. “We now have retirement-plan clients in all 50 states and we serve over 220,000 plan participants through our retirement-plan services entities. EPIC and RPS together will enable us to build on our mission of helping America retire.”
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Founded in 1993, EPIC provides customized retirement-plan recordkeeping, marketing, and service options for banks, trust companies, third-party administrators, investment advisors, and other financial intermediaries who serve the retirement-plan market.
NBT acquired EPIC in 2005 and has grown its retirement-plan services business “organically, and in recent years, through acquisitions.”
The NBT acquisitions included Downeast Pension Services, Inc. in New Gloucester, Maine in 2017; Actuarial Designs & Solutions, Inc. of Scarborough, Maine in 2016; and Third Party Administrators, Inc. of Bedford, New Hampshire in 2015.
Norwich–based NBT Bancorp (NASDAQ: NBTB) had total assets of $9.1 billion at Dec. 31, 2017. The company primarily operates through NBT Bank, N.A., EPIC Advisors, Inc., and NBT Insurance Agency, LLC.
Contact Reinhardt at ereinhardt@cnybj.com
