First Bank Mergers and Acquisitions Summary

Financial ServicesCompany

First Bank has acquired 2 companies, including 2 in the last 5 years.

First Bank’s largest acquisition to date was in 2017, when it acquired ASB Bancorp for $175M. First Bank has acquired in 1 US state. The Company’s most targeted sectors include financial services (50%) and insurance (50%).

Join Mergr and gain access to First Bank’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the financial services sector.

M&A Summary

  • M&A Total Activity2
    • M&A Buy Activity2
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Advisors 1

First Bank

First Bancorp

First Federal Building 1519 Ponce de León Avenue Stop 23,
Santurce, North Carolina 00908
United States,
(787) 729-8200
www.1firstbank.com

First Bank is a bank holding company. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 97 branches, with 82 branches operating in North Carolina, 7 branches in South Carolina and 8 branches in Virginia, where First Bank does business as First Bank of Virginia. First Bank was founded in 1948 and is based in Santurce, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.0/yr) # 2 - - - - - 2
vol $175M $175M
Sell (0.0/yr) # - - - - - - 0
  2

Most Recent M&A

Company Date Value Type
Bear Insurance Service 2017-08-21 - Add-on Acquisition
Albemarle, North Carolina · www.bearinsurance.com
ASB Bancorp, Inc. 2017-05-01 175M USD Add-on Acquisition
Asheville, North Carolina · www.ashevillesavingsbank.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 1 (50%) 175M (100%) - -
Insurance 1 (50%) - - -
Total 2 $175M - -

By Geo

State/Country Buy Value Sell Value
United States 2 175M - -
  North Carolina 2 175M - -
Total 2 $175M - -

Top M&A Advisors

Legal Deals
Brooks, Pierce, McLendon, Humphrey & Leonard LLP
1

Deal Values

buy # Total
$100M to $1B 1 $175M
TOTAL $175M
Largest ASB Bancorp, Inc.
$175M (2017-05-01)

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