The Hovde business was founded in 1987, when Eric Hovde and his father, Donald Hovde, established Hovde Financial, Inc.* to provide community and regional banks and thrifts with M&A and strategic advisory services. Drawing from years of experience in the financial services industry, this Washington, DC-based Hovde team quickly grew into a major provider of investment banking services in the financial services sector.

Hovde’s successful Washington, DC office was soon complemented by a second office in Chicago, IL, led by Steven Hovde. Following a career in the real estate, law, and accounting fields, Steven Hovde opened this office to serve clients and investors interested in opportunities in the financial services industry. Since this time, the Hovde Chicago office has become the firm’s investment banking headquarters and has significantly contributed to Hovde’s long-time and consistent success in financial services M&A.

The asset management business, Hovde Capital, Inc.**, was founded in 1994 to capitalize on investment opportunities in the financial services sector and, at this time, our Financial Institution Partners series of funds was created. Over the last several years, this investment management team has grown into one of the most skilled and comprehensive teams in the financial services and real-estate related hedge fund marketplace.

Also in 1994, Hovde Acquisition LLC was formed to capitalize on investment opportunities, such as control positions in banks and thrifts, which were not suitable investments for hedge funds. Through this entity, Hovde has invested and continues to invest the resources its principals and investors in strategic controlling and non-controlling equity positions in the financial services sector.

Hovde’s fourth major business line, Hovde Securities LLC, a registered broker/dealer with the Financial Industry Regulatory Authority ("FINRA"), was created in 1989 to facilitate our investment banking division’s activities and to provide services in the areas of mutual-to-stock thrift conversions, private placements, underwriting, trust preferred securities, and other capital raising services.

Over the last few decades, the Hovde businesses have has grown to provide a wide range of services to financial services institutions and to those interested in investing in the financial and real-estate related services sectors. With over 40 employees and offices in Washington, Chicago, Los Angeles, and Palm Beach, Hovde is ideally positioned to continue on our path of significant growth in the future.

* Hovde's investment banking business now operates under the name Hovde Financial.

** Hovde's asset management business now operates under the name Hovde Capital Advisors LLC.

*** This Hovde office has since relocated to Los Angeles.