FBI raids financial services firm in Westfield

FBI officials raided the offices of a financial services company in Westfield on Thursday morning, local media outlets have reported.

According to news accounts, agents were spotted on-site at Banc-serv at 777 E. Main St. The company provides services for small-business lenders..

But the FBI is being tight-lipped about what’s actually happening.

“I can confirm investigative activity in the area, but the nature of that activity I can’t confirm,” said Chris Bavender, a spokeswoman for the FBI’s Indianapolis office.

On its website, Banc-serv describes itself as having 40 employees who work with more than 400 lending partners in 45 states.

IBJ called Banc-serv Thursday and left a phone message that was not immediately returned.

Founded in 2002, Banc-serv provides credit analysis, packing, closing compliance and other services for lending institutions. Its president and CEO is Kerri Agee, who was a member of the 2008 class of IBJ's "Forty Under 40" feature.

Banc-serv was acquired by New York-based Newtek Business Services Corp. in June 2016 for $5.4 million in cash. Newtek said at the time that it would retain Banc-serv's management team as part of the agreement.

Newtek shares were up 2 cents to $17.90 in early afternoon trading on Thursday. The firm's share price is near its 52-week high of $18.16.

Newtek did not immediately return a call for comment.

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets in {{ count_down }} days.