The Quad Cities firms of Hammar & Associates and Centennial Tax & Accounting have merged in a move to expand their capabilities and combine resources, Centennial’s parent company Northwest Bank & Trust announced in a news release.
The partnership brings together two like-minded, growing local firms focused on connecting clients to financial opportunities through their trusted advice and service, according to the Wednesday, Nov. 30, release.
“We are excited to work alongside Tom Hammar, Molly Shattuck and the entire Hammar team as they join Centennial Tax & Accounting,” said Adam Pelzer, Northwest Bank’s executive vice president and an executive at Centennial. “This partnership means a lot to Centennial. Hammar has been a leading firm in the area and will immediately enhance our expertise in payroll, accounting and advisory services.”
The addition of Hammar’s Rock Island office also expands Centennial’s presence to both the Iowa and Illinois Quad Cities. The merger with Centennial, based in offices at the Northwest Bank NorthPark Tower, Davenport, closed on Oct. 31. Hammar has officially adopted the Centennial name and brand.
“We are pleased to continue our commitment to grow our capabilities in the Quad Cities and create a home for local accounting firms and their people,” Mr. Pelzer added.
Tom Hammar, who now is the lead director for Centennial Tax & Accounting, echoed the same excitement for the new partnership. “During our conversations, it was clear we were aligned in our shared values and our passion for providing the best solutions and service to our clients. I strongly feel our clients and our people will benefit for years to come.”
The announcement comes 11 months after the December 2021 merger of Davenport accounting firm Oelerich, Reiling & Miller (ORM) with Centennial.
“Centennial is growing something here locally that is quite extraordinary in the accounting and tax space,” Mr. Hammar said. “The current landscape calls for some new approaches and Centennial is on pace to be of a size that will better be able to attract the best talent available.”
He added: “The human capital component is essential to thriving going forward. We have learned a few things through the years that we can bring to the table as well so we truly will be stronger as a combined firm than as two separate companies.”
Centennial Tax & Accounting, an investment subsidiary created by Northwest Bank in January 2019, now will have more than 40 local professionals with more than 600 years of combined expertise in tax, accounting, payroll, and advisory services for individuals, not-for-profits and small businesses in the Quad Cities.
The combination of the two businesses is supported by the investment of Northwest Bank.
