M&A Deal Summary

National City Acquires Provident Financial Group

On February 18, 2004, National City acquired financial services company Provident Financial Group for 2.1B USD

Acquisition Highlights
  • This is National City’s 2nd transaction in the Financial Services sector.
  • This is National City’s largest (disclosed) transaction.
  • This is National City’s 2nd transaction in the United States.
  • This is National City’s 1st transaction in Ohio.

M&A Deal Summary
Date 2004-02-18
Target Provident Financial Group
Sector Financial Services
Buyer(s) National City
Deal Type Add-on Acquisition
Deal Value 2.1B USD

Target

Provident Financial Group

Cincinnati, Ohio, United States
website
Provident Financial Group was a commercial bank serving the Midwest and Southeastern regions of the US.

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Buyer(S) 1

Buyer

National City

Cleveland, Ohio, United States

website

Category Company
Founded 1845
Sector Financial Services
Employees29,828
DESCRIPTION

National City Corp. is a mortgage banking organization with over 300 offices. The Company provides mortgage services and is now a part of PNC.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Ohio) 1 of 1
Country (United States) 2 of 3
Year (2004) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-27 First Franklin Financial Co

San Jose, California, United States

First Franklin Financial Companies, Inc. offers residential mortgage loans and home loan solutions. Its services include loan programs, such as core, 40-year amortization, Best Score, single liens, documentation options, and alt-A.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-12 Harbor Florida Bancshares

Fort Pierce, Florida, United States

Harbor Florida is a Florida based regional bank serving the central and eastern areas of the state.

Buy $1.1B
Mergr

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