M&A Deal Summary

First Bank Acquires Clayton Bancorp

On February 8, 2017, First Bank acquired financial services company Clayton Bancorp

Acquisition Highlights
  • This is First Bank’s 2nd transaction in the Financial Services sector.
  • This is First Bank’s 2nd transaction in the United States.
  • This is First Bank’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2017-02-08
Target Clayton Bancorp
Sector Financial Services
Buyer(s) First Bank
Deal Type Add-on Acquisition
Advisor(s) Olsen Palmer LLC (Financial)
Baker, Donelson, Bearman, Caldwell & Berkowitz (Legal)

Target

Clayton Bancorp

Knoxville, Tennessee, United States
website
Clayton Bancorp, Inc. (Clayton Bank and Trust) is a provider of financial services in US. The bank has 13 branches across its markets in Knoxville, Jackson, Oakland, Covington, Henderson, Lexington, Friendship and Cookeville, Tennessee.

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Buyer(S) 1

Buyer

First Bank

Nashville, Tennessee, United States

website

Category Company
Founded 1906
Sector Financial Services
Employees1,757
Revenue 527M USD (2022)
DESCRIPTION

First Bank is a bank holding company headquartered in Nashville, Tennessee. FB Financial operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-headquartered bank, with 45 full-service bank branches across Tennessee, North Alabama and North Georgia, and a national mortgage business with offices across the Southeast. First Bank was incorporated in 1906 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 2 of 4
Type (Add-on Acquisition) 1 of 2
State (Tennessee) 2 of 3
Country (United States) 2 of 4
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-08 American City Bank

Tullahoma, Tennessee, United States

American City Bank is a provider of financial services. It operates five branches in Tullahoma, Manchester, Lynchburg and Dechard, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-17 Farmers National Bank

Danville, Kentucky, United States

Formed in 1879, Farmers National Bank is a provider of a comprehensive variety of financial services and products. The company offers Investment Management; Trusts; Estates; Retirement; 401(k)s; Employee Stock Ownership Plans (ESOPs) and Private Banking with offices located in Danville, Bowling Green and Lexington, Kentucky.

Buy -
Mergr

Product

Company

Legal