Former investment banker Nisbeth retires

August 15, 2008

Rick Nisbeth, a prominent investment banker in Indianapolis before leaving the city in 2002, has retired from Citrus Bank in Boca Raton, Fla.

Nisbeth, 60, was Citrus chairman, president and CEO. The bank is a subsidiary of CIB Marine Bancshares Inc., which is headquartered in the Milwaukee suburb of Pewaukee.

CIB sold Citrus to 1st United Bancorp Inc. of Boca Raton, Fla., effective today.

In Indianapolis, the Florida native helped assemble more than 100 mergers and acquisitions worth a total of $800 million. He was with Raffensperger Hughes & Co . before it was acquired by National City Corp ., then George S . Olive & Co ., which later became part of BKD LLC .

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