M&A Deal Summary

City National Bank Acquires Poage Bankshare

On July 11, 2018, City National Bank acquired financial services company Poage Bankshare

Acquisition Highlights
  • This is City National Bank’s 13th transaction in the Financial Services sector.
  • This is City National Bank’s 13th transaction in the United States.
  • This is City National Bank’s 3rd transaction in Kentucky.

M&A Deal Summary
Date 2018-07-11
Target Poage Bankshare
Sector Financial Services
Buyer(s) City National Bank
Deal Type Add-on Acquisition

Target

Poage Bankshare

Ashland, Kentucky, United States
Poage Bankshare, Inc. is a provider of financial services which operates an nine branches and one loan production office across northeastern Kentucky. As of March 31, 2018, Poage had $450 million in total assets, $375 million in deposits, and $333 million in gross loans.

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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 13 of 14
Sector (Financial Services) 13 of 14
Type (Add-on Acquisition) 12 of 13
State (Kentucky) 3 of 4
Country (United States) 13 of 14
Year (2018) 2 of 2
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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-10 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.

Buy $62M
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