M&A Deal Summary

Atlantic Union Bank Acquires Access National

On October 5, 2018, Atlantic Union Bank acquired financial services company Access National for 610M USD

Acquisition Highlights
  • This is Atlantic Union Bank’s 3rd transaction in the Financial Services sector.
  • This is Atlantic Union Bank’s largest (disclosed) transaction.
  • This is Atlantic Union Bank’s 3rd transaction in the United States.
  • This is Atlantic Union Bank’s 2nd transaction in Virginia.

M&A Deal Summary
Date 2018-10-05
Target Access National
Sector Financial Services
Buyer(s) Atlantic Union Bank
Deal Type Add-on Acquisition
Deal Value 610M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Troutman Pepper Hamilton Sanders (Legal)

Target

Access National

Reston, Virginia, United States
website
Access National Corp. is a commercial bank serving middle market businesses and associated professionals throughout the Washington D.C. region. Access National Bank’s core services include commercial credit, deposit, investment, cash management, private banking and real estate finance. Access National Bank also has subsidiaries that provide wealth management, retirement planning and securities brokerage.

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Buyer(S) 1

Buyer

Atlantic Union Bank

Richmond, Virginia, United States

website

Category Company
Founded 1902
Sector Financial Services
Employees1,877
Revenue 696M USD (2022)
DESCRIPTION

Atlantic Union Bank is the holding company for Atlantic Union Bank. Atlantic Union Bank has 149 branches and approximately 170 ATMs located throughout Virginia, and in portions of Maryland and North Carolina. Middleburg Financial is a brand name used by Atlantic Union Bank and certain affiliates when providing trust, wealth management, private banking, and investment advisory products and services. Certain non-bank affiliates of Atlantic Union Bank include: Old Dominion Capital Management, Inc., and its subsidiary, Outfitter Advisors, Ltd., Dixon, Hubard, Feinour & Brown, Inc., and Middleburg Investment Services, LLC, which provide investment advisory and/or brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products. Atlantic Union Bank was incorporated in 1902 and is based in Richmond, Virginia.

DEAL STATS #
Overall 3 of 4
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 1 of 2
State (Virginia) 2 of 3
Country (United States) 3 of 4
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-26 Xenith Bankshares

Richmond, Virginia, United States

Xenith Bankshares, Inc. through its wholly-owned subsidiary, Xenith Bank, provides business-focused banking services to customers in the Richmond and Hampton Roads, Virginia and Greater Washington, D.C. markets. Headquartered in Richmond, it has assets of approximately $1.0 billion. Xenith Bank has eight locations in Herndon, Richmond, Suffolk and Gloucester, Virginia and one loan production office in Newport News, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 DHFB

Roanoke, Virginia, United States

DHFB is a wealth management firm, focused on where the industry is headed and work to get there first, challenging the status quo of old thinking and systems. DHFB was founded in 1981 and is based in Roanoke, Virginia.

Sell -
Mergr

Product

Company

Legal