M&A Deal Summary

Park Sterling Acquires First Capital Bancorp

On January 1, 2016, Park Sterling acquired financial services company First Capital Bancorp for 87M USD

Acquisition Highlights
  • This is Park Sterling’s 4th transaction in the Financial Services sector.
  • This is Park Sterling’s largest (disclosed) transaction.
  • This is Park Sterling’s 4th transaction in the United States.
  • This is Park Sterling’s 1st transaction in Virginia.

M&A Deal Summary
Date 2016-01-01
Target First Capital Bancorp
Sector Financial Services
Buyer(s) Park Sterling
Deal Type Add-on Acquisition
Deal Value 87M USD
Advisor(s) Banks Street Partners LLC (Financial)
LeClairRyan (Legal)

Target

First Capital Bancorp

Glen Allen, Virginia, United States
website
First Capital Bancorp, Inc. is a bank holding company for First Capital Bank is a community oriented financial institution that offers a full range of banking and related financial services to small and medium-sized businesses, professionals and individuals located in its market area.

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Buyer(S) 1

Buyer

Park Sterling

Charlotte, North Carolina, United States

website

Category Company
Sector Financial Services
Employees551
Revenue 107M USD (2015)
DESCRIPTION

Park Sterling Corporation, the holding company for Park Sterling Bank. Park Sterling, a regional, community-focused financial services company with approximately $2.3 billion in assets, is the largest community bank in the Charlotte area and has 53 banking offices stretching across the Carolinas and into North Georgia as well as a loan production office in the Greater Richmond region.

DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 4 of 4
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2016) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Provident Community Bancshares

Rock Hill,, South Carolina, United States

Provident Community Bancshares, Inc. operates as a bank holding company for Provident Community Bank, N.A., which provides various financial products and services.

Buy $5M
Mergr

Product

Company

Legal