M&A Deal Summary

Citizens Financial Services Acquires MidCoast Community Bancorp

On September 19, 2019, Citizens Financial Services acquired financial services company MidCoast Community Bancorp from Bryn Mawr

Acquisition Highlights
  • This is Citizens Financial Services’ 1st transaction in the Financial Services sector.
  • This is Citizens Financial Services’ 1st transaction in the United States.
  • This is Citizens Financial Services’ 1st transaction in Delaware.

M&A Deal Summary
Date 2019-09-19
Target MidCoast Community Bancorp
Sector Financial Services
Buyer(s) Citizens Financial Services
Sellers(s) Bryn Mawr
Deal Type Divestiture

Target

MidCoast Community Bancorp

Wilmington, Delaware, United States
MidCoast Community Bancorp, Inc. is the holding company of MidCoast Community Bank, a Delaware-chartered commercial bank, which operates three community banking offices in New Castle and Kent Counties, Delaware. In addition to lending in these Delaware markets, the Bank is also an active lender in Chester County, PA. MidCoast Community Bancorp was formed in 2010 and is based in Wilmington, Delaware.

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Buyer(S) 1

Buyer

Citizens Financial Services

Mansfield, Pennsylvania, United States
Category Company
Founded 1984
Sector Financial Services
Employees394
Revenue 92M USD (2023)
DESCRIPTION

Citizens Financial Services is the holding company of First Citizens Community Bank. First Citizens Community Bank is a regional bank offers a variety of banking and financial services to individuals and businesses. Citizens Financial Services was founded in 1984 and is based in Mansfield, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 1

SELLER

Bryn Mawr

Bryn Mawr, Pennsylvania, United States
Category Company
Founded 1889
Sector Financial Services
Employees632
Revenue 222M USD (2020)
DESCRIPTION

Bryn Mawr is a regional provider of financial services for individuals, families, businesses, and organizations. The company operates 41 banking locations, 7 wealth management offices, and 2 insurance and risk management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. Bryn Mawr Bank was founded in 1889 and is based in Bryn Mawr, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-19 Hirshorn Boothby

Philadelphia, Pennsylvania, United States

Hirshorn Boothby is a full-service insurance agency. Hirshorn Boothby was founded in 1931 and is based in Philadelphia, Pennsylvania.

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