M&A Deal Summary

City National Bank Acquires Virginia Savings Bancorp

On May 31, 2012, City National Bank acquired financial services company Virginia Savings Bancorp for 13M USD

Acquisition Highlights
  • This is City National Bank’s 10th transaction in the Financial Services sector.
  • This is City National Bank’s 8th largest (disclosed) transaction.
  • This is City National Bank’s 10th transaction in the United States.
  • This is City National Bank’s 1st transaction in Virginia.

M&A Deal Summary
Date 2012-05-31
Target Virginia Savings Bancorp
Sector Financial Services
Buyer(s) City National Bank
Deal Type Add-on Acquisition
Deal Value 13M USD
Advisor(s) BB&T Capital Markets (Financial)
LeClairRyan (Legal)

Target

Virginia Savings Bancorp

Front Royal, Virginia, United States
Virginia Savings Bancorp is provides financial services in US.

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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 10 of 14
Sector (Financial Services) 10 of 14
Type (Add-on Acquisition) 10 of 13
State (Virginia) 1 of 2
Country (United States) 10 of 14
Year (2012) 1 of 2
Size (of disclosed) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Home Bancorp

Lafayette, Louisiana, United States

Home Bancorp is a banking service provider that offers deposit products, including interest-bearing and noninterest-bearing checking, money market, savings, NOW, and certificates of deposit accounts. Home Bancorp was founded in 1908 and is based in Lafayette, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-02 Community Financial

Staunton, Virginia, United States

Community Financial Corp., is a financial service company.

Buy $25M
Mergr

Product

Company

Legal