Press release

First Mercantile Trust, a subsidiary of EdgeCo Holdings, Completes Strategic Acquisition of American Trust Retirement

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First Mercantile Trust (“FMT”), a leading provider of technology-enabled
retirement solutions for financial intermediaries and their clients, has
completed its previously announced strategic acquisition of American
Trust Retirement (“ATR”) from American Trust & Savings Bank. FMT is a
subsidiary of EdgeCo Holdings, Inc. (“EdgeCo”) and this transaction
reflects a continued commitment by EdgeCo and its subsidiaries to
provide best-in-class retirement solutions to the small and mid-sized
retirement plan market.

“American Trust Retirement represents an ideal fit with our retirement
plan platform and will support our continued growth and delivery of
unique solutions in partnership with financial intermediaries,” said
John Moody, Chief Executive Officer of EdgeCo.

“We believe that advisors, TPA’s, and their respective clients, as well
as our employees, will win in a big way as a result of this
acquisition,” said Kurt Wedewer, who has joined EdgeCo as a Regional
President of American Trust Retirement. “ATR and EdgeCo’s shared focus
on creating better retirement outcomes and providing a differentiated
fiduciary offering is a perfect combination. We are excited about the
comprehensive solution the combined organization now offers to financial
intermediaries and their clients.”

Following the acquisition, EdgeCo will be rebranding its full-service
record-keeping business as “American Trust Retirement”, reflecting the
organization’s national scale and growth. ATR and FMT’s dedicated
service model, technology enabled participant engagement strategy,
Collective Investment Trust offering, and discretionary trustee 3(16)
and 3(38) solutions will all continue to be foundational elements of the
combined business. EdgeCo will continue investing in the business to
support initiatives, such as financial wellness and plan governance,
that help financial intermediaries further differentiate themselves.

Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel and
Sandler O’Neill + Partners, L.P. served as financial advisor to American
Trust & Savings Bank. Kirkland & Ellis LLP served as legal counsel to
EdgeCo.

About EdgeCo Holdings, Inc.
Through
its subsidiaries, EdgeCo is a leading provider of best-in-class
technology-enabled solutions for financial intermediaries and their
clients. For over four decades, EdgeCo companies have provided a suite
of technology and support services including full service retirement
plan administration, brokerage, advisory and trust and custody services
to a diverse national client base of financial intermediaries. This
client base includes registered representatives, investment advisors,
and other financial intermediaries including retirement plan
record-keepers, TPA’s, bank trust departments, broker dealers, and
insurance companies. The firm services approximately $115 billion in
client assets under custody or administration and more than 8,000
financial advisors and 500 financial institutions.