M&A Deal Summary

City National Bank Acquires Citizens Commerce Bank

On March 10, 2023, City National Bank acquired financial services company Citizens Commerce Bank for 62M USD

Acquisition Highlights
  • This is City National Bank’s 14th transaction in the Financial Services sector.
  • This is City National Bank’s 3rd largest (disclosed) transaction.
  • This is City National Bank’s 14th transaction in the United States.
  • This is City National Bank’s 4th transaction in Kentucky.

M&A Deal Summary
Date 2023-03-10
Target Citizens Commerce Bank
Sector Financial Services
Buyer(s) City National Bank
Deal Type Add-on Acquisition
Deal Value 62M USD
Advisor(s) Forvis Capital Advisors LLC (Financial)
Wyatt Tarrant & Combs (Legal)

Target

Citizens Commerce Bank

Versailles, Kentucky, United States
Citizens Commerce Bank provides banking services to Woodford County and the surrounding area through five full-service locations, two in Versailles, one in Frankfort, one in Nicholasville, and one in Lexington.

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Buyer(S) 1

Buyer

City National Bank

Charleston, West Virginia, United States
Category Company
Founded 1957
Sector Financial Services
Employees909
Revenue 282M USD (2023)
DESCRIPTION

City National Bank is a financial service company offers a range of checking and savings products for both consumer and business customers. City National Bank was incorporated in 1957 and is based in Charleston, West Virginia.

DEAL STATS #
Overall 14 of 14
Sector (Financial Services) 14 of 14
Type (Add-on Acquisition) 13 of 13
State (Kentucky) 4 of 4
Country (United States) 14 of 14
Year (2023) 1 of 1
Size (of disclosed) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-11 Farmers Deposit Bancorp

Cynthiana, Kentucky, United States

Farmers Deposit Bancorp, Inc. is a parent company of Farmers Deposit Bank which provides financial services. Farmers Deposit Bancorp is based in Cynthiana, Kentucky.

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Mergr

Product

Company

Legal