Eide Bailly expands into Colorado with Gordon, Hughes & Banks merger

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Eide Bailly LLP is pleased to announce that Gordon, Hughes & Banks, LLP, (GHB) a Colorado-based CPA firm, is joining its regional public accounting and business advisory practice, effective Nov. 1, 2008. This union brings Eide Bailly's total staff to more than 1,200, including 157 partners. The Firm's total revenues for fiscal year ended April 30, 2008, were $114 million. GHB adds $13 million of revenue to the Firm. Eide Bailly is ranked as one of the 25 largest CPA firms in the nation by Public Accounting Report.

"Gordon, Hughes & Banks is a very successful organization with a strong practice in the state of Colorado," Jerry Topp, managing partner of Eide Bailly says. "Bringing GHB into the Eide Bailly family fits very well with our growth plan to expand westward." Topp says that, even more important than the numbers, GHB is a good match with the Firm's culture and approach to client service. "In our search of firms to join Eide Bailly, we look for organizations with similar values, as these attributes are key to a successful union." Topp says GHB is a great fit in all areas.

James Lyons, managing partner of GHB agrees, "We feel a real culture connection with Eide Bailly, as both firms care equally about their people and clients. With their strong reputation for positive client relationships and a caring working environment, I am excited about our decision to join this progressive regional firm."

Ranked by nationally-known Vault as No. 5 in its list of "Best 20 Firms to Work For," Eide Bailly's people-focused culture is what makes it the firm of choice for more than 1,200 professionals. "By combining our practice with Eide Bailly, I know our people will have additional opportunities to specialize and advance their careers," Lyons says. "They will also benefit from customized learning events developed and delivered by a firm that is ranked No. 2 by Vault for 'Best in Training'."

Clients across the state will also benefit from this union of firms. “With a larger pool of talent to draw from, we can now meet the needs of most businesses across the state of Colorado, from owner-operated companies, to publicly-traded businesses,” Lyons says. The two firms serve several similar industries, including real estate, construction, oil and gas, non-profits, government and SEC clients. Topp adds, “Our entry into Colorado also gives us the opportunity to expand some of Eide Bailly's largest practice areas, including health care, financial institutions (banks and credit unions) and insurance, into a new market. We look forward to sharing our extensive knowledge and experience in these areas with clients across the state.”

While businesses in Colorado will now have access to the resources of a larger firm, Lyons assures that clients will continue to experience the personal, attentive service and local relationships they've come to appreciate. “Exceptional client service is the cornerstone of what has made each of our firms successful, and this will continue to be the cornerstone of how we operate as we move forward together,” Lyons says.

In addition to Lyons, who will serve as the partner-in-charge of the Colorado practice, partners joining Eide Bailly include Penelope Banks, James Boak, Sheryl Brake, Brian Callahan, Dave DeZutter, Bob Drury, Thomas Froehle, Kim Higgins, Rex Hughes, Peggy Jennings, Celia Johnson, Richard Kendall, Lloyd Sweet and recently-promoted partner Eric Budreau.

About Eide Bailly LLP
The combined Eide Bailly firm provides audit, accounting and tax services, employee benefits, training, forensic accounting and investigative services, technology solutions and business and industry-specific consulting services. In addition to its new Colorado locations in Boulder, Denver Tech Center, Summit County, Golden, Grand Junction and Vail Valley, the firm has offices in Phoenix, Ariz.; Boise, Idaho; Dubuque, Iowa; Madelia, Mankato and Minneapolis, Minn.; Billings, Mont.; Fargo and Bismarck, N.D.; Norman, Oklahoma City and Tulsa, Okla., and Sioux Falls and Aberdeen, S.D.

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