CSI acquires loan origination software provider Hawthorn River

Financial software and technology provider CSI recently acquired St. Louis-based loan origination software provider Hawthorn River. 

According to a press release, the deal increases loan origination capabilities for both CSI commercial and consumer accounts. The deal is expected to enable CSI to deliver single-point loan origination solutions to non-CSI community banks through API integrations and through strategic channel partnerships with other technology and service providers. 

Hawthorn River offers a single-platform loan origination system for community banks. The acquisition follows a commercial partnership between the two companies that leveraged Hawthorn River’s loan origination solution within CSI’s software platform.

“Throughout our partnership and in conversations with the Hawthorn River team and customers, it became clear how much their solution resonates with community bankers,” said CSI President and CEO David Culbertson. “We’re excited to welcome the whole Hawthorn River team to CSI and work more closely than ever to solve a critical market gap.”

CSI signed a record number of core deals through the first half of its 2024 fiscal year. In late October, the company reached an agreement with digital banking and treasury management fintech Dragonfly Financial Technologies to deliver cash management solutions for businesses across ACH, positive pay and sweep accounts.

Hawthorn River was founded in 2018 by Jon Rigsby and Wayne Ferrell, who at the time had both spent the previous two decades in leadership roles at community banks. “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,” Rigsby said.