Under Culbertson’s seven years of leadership, CSI completed several strategic acquisitions, grew market share from 8% to 11% and YoY revenue by 8%
PADUCAH, Ky.–(BUSINESS WIRE)–CSI, a leading provider of end-to-end financial software and technology, announced today that president and CEO David Culbertson will transition to a new role as vice chair of the board of directors. The company has identified its next CEO, who will be announced at a later date. Culbertson will continue to serve as CEO until his successor is onboarded.
Culbertson was appointed president of CSI in 2018 and CEO in 2021, navigating the company through its acquisition by Centerbridge Partners, L.P. (Centerbridge) and Bridgeport Partners (Bridgeport) in 2022—achieving a valuation of about $1.6 billion—as well as subsequent investment from TA Associates in 2024 at a substantially larger valuation. Under his leadership, CSI expanded its market share from 8% to 11%, grew its revenue 8% year over year and acquired two industry-leading brands in Hawthorn River and Velocity Solutions.
“CSI has been my home for 36 years. In that time, I watched it grow from a small core provider into one of the largest financial software providers in the country,” Culbertson said. “To be able to say I had a hand in that journey is the greatest professional honor I could ever hope for. That journey is far from over, and I couldn’t be more excited to transition into my new role on the board of directors and continue to guide the company’s strategic vision under a new CEO as CSI forges ahead on its path to growth.”
Culbertson will work closely with the board and the executive team during the transition to ensure continued leadership and stability.
“David has been an incredible leader for CSI, and we are deeply grateful for his dedication, vision and contributions,” said Frank Martire, chair of the board of directors at CSI. “We are confident that David will continue to provide valuable guidance and support in his new role as vice chair.”
For more information on CSI, visit csiweb.com.
About CSI
As a forward-thinking software provider, CSI helps community and regional banks, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its 60-year reputation for personalized service, CSI is shaping the future of banking by swiftly deploying advanced solutions that help its customers rival their competition.
Contacts
Media Contact:
Emma Chase
Red Fan Communications
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512-917-4319
