City Financial Corporation is the holding company of City Securities Corporation, City Real Estate Advisors, City Investment Group and ReCasa Financial Group. The holding company structure was created in May 2006 to streamline the decision making process in businesses outside the original company, City Securities Corporation, a registered broker-dealer headquartered in Indianapolis, Indiana. The management framework established by the holding company structure in 2006 has provided greater flexibility in operational and financial activities.
Incorporated in 1924, City Securities Corporation is Indiana’s oldest and largest, independent, full service investment firm, active in corporate finance, public finance, investment services, money management and insurance. The firm is also recognized as THE SOURCE for tax-exempt Indiana municipal bonds. Since 1980, City Securities has raised over $23 billion for local and state projects by managing or co-managing over 60% of the state’s municipal bond business.
City Real Estate Advisors, Inc (“CREA”) provides innovative real estate investment banking solutions for its clients and investors. Formed in 2001 by Jeffery A. Whiting, CREA is a full-service Low Income Housing Tax Credit (LIHTC) equity provider and commercial lending company committed to the clients they serve; developers, borrowers and investors. CREA was founded on the “Real Estate First” philosophy—behind every exceptional real estate investment is fundamentally sound real estate.
The holding company's private investment activity takes place in City Investment Group. Investments are made in primarily established companies across industries looking for growth or expansion capital and can be in many different forms. City Financial places particularly strong emphasis on management's ability to execute strategic plans.
ReCasa Financial Group was founded to meet the unique, and largely neglected, financial needs of real estate investors. ReCasa provides 100% financing for the purchase, improvements, and soft costs associated with the rehabilitation of residential properties. ReCasa seeks repeat relationships with qualified borrowers, while holding to an established underwriting discipline. ReCasa was acquired by City Financial Corporation in July 2006 and operates as an independent subsidiary.