First Bank - M&A Summary and Business Overview

Financial ServicesCompany

First Bank M&A Summary

First Bank has acquired 1 company, including 1 in the last 5 years.

First Bank’s largest acquisition to date was in 2022, when it acquired GrandSouth Bank for $181M. First Bank has acquired in 1 US state. The Company’s most targeted sectors include financial services (100%).

First Bank Business Overview

Where is First Bank headquartered?

First Bank is headquartered in Santurce, North Carolina.

What is First Bank’s revenue?

First Bank disclosed revenue of 880M USD for 2022 and 824M USD for 2021.

How many employees does First Bank have?

First Bank has 3,133 employees.

What sector is First Bank in?

First Bank is a financial services company.

When was First Bank founded?

First Bank was founded in 1948.

M&A Summary

  • M&A Total Activity1
    • M&A Buy Activity1
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Advisors 2

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 incorporated in 1948 and is based in Santurce, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # - - - 1 - - 1
vol $181M $181M
Sell (0.0/yr) # - - - - - - 0
  1

Most Recent M&A

Company Date Value Type
GrandSouth Bank 2022-06-21 181M USD Add-on Acquisition
Greenville, South Carolina · www.grandsouth.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 1 (100%) 181M (100%) - -
Total 1 $181M - -

By Geo

State/Country Buy Value Sell Value
United States 1 181M - -
  South Carolina 1 181M - -
Total 1 $181M - -

Top M&A Advisors

Financial Deals
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Brooks, Pierce, McLendon, Humphrey & Leonard LLP
1

Deal Values

buy # Total
$100M to $1B 1 $181M
TOTAL $181M
Largest GrandSouth Bank
$181M (2022-06-21)

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